Austin Texas News - U.S. News - KEYE 42

A litany of bad economic news has snuffed out Wall Street's five-day rally, sending stocks falling sharply as investors realized anew how troubled the U.S. economy really is.

Federal health officials estimate that the struggling economy is likely to speed up by one to three years the exhaustion of the Medicare trust fund covering hospital and nursing home care.

President-elect Obama describes her as a woman with "extraordinary intelligence and toughness" who will "command respect" in capitals around the world.

Federal Reserve Chairman Ben Bernanke says further interest-rate cuts are "certainly feasible," but he warns there are limits to how much such action would revive an economy likely to stay weak well into next year.

The declaration is made by the National Bureau of Economic Research. The private NBER says its group of academic economists decided that the U.S. recession began last December.

Saying he's "a strong believer in strong personalities and strong opinions," Obama has announced a national security team featuring his chief Democratic rival, as well as the current defense secretary.

A Houston hospital says former first lady Barbara Bush is in good condition and recovering from ulcer surgery as expected.

President Bush says his presidential initiative has already met its goal of treating two million people with the deadly AIDS disease in sub-Saharan Africa.

What Black Friday is to traditional brick and mortar stores, Cyber Monday is to online retailers.

An Associated Press review of regulatory documents finds that the Bush administration backed off proposed crackdowns on no-money-down, interest-only mortgages years before the economy collapsed.