Free Republic

WASHINGTON (AP) -- The U.S. economy went into reverse in the first three months of this year as a severe winter and a widening trade deficit took a harsher toll than initially estimated. The Commerce Department says the overall economy as measured by the gross domestic product contracted at an annual rate of 0.7 percent in the January-March period. The revised figure, even weaker than the government's initial estimate of a 0.2 percent growth rate, reflects a bigger trade gap and slower consumer spending. It marked the first decline since a 2.1 percent contraction in the first three months of...

Tony Rezko's former development partner is broke. ### Dan Mahru -- a lawyer who became an ice peddler and real estate developer -- has filed for bankruptcy, declaring that he and his business partners, including Rezko, owe as much as $95 million to creditors. Mahru estimates his personal debts could be as high as $50 million. Mahru and Rezko split a few years ago. But they're still fighting dozens of lawsuits filed over housing developments they built. "I couldn't handle all the multitude of lawsuits involving Mr. Rezko,'' Mahru says. Mahru lists $48,970.61 in assets in the bankruptcy case he...

Does racial bias fuel Obama foes? How to tell? Is it because he's black? The question of whether race fuels opposition to President Barack Obama has become one of the most divisive topics of the election. It is sowing anger and frustration among conservatives who are labeled racist simply for opposing Obama's policies and liberals who see no other explanation for such deep dislike of the president. It is an accusation almost impossible to prove, yet it remains inseparable from the African-American experience. The idea, which seemed to die in 2008 when Obama became the first black president, is now...