Senate Small Business Chairwoman Mary Landrieu (D-La.) on Tuesday sharply criticized President Obama's reaction to the oil spill in the Gulf of Mexico by halting nearly all drilling activity in the area.

Bankruptcy filings rose 20 percent in the 12-month period ending in June, according to the Administrative Office of the U.S. Courts.

Republicans reminded Vice President Biden of the prediction he made that the stimulus would fix the economy in 18 months.

The U.S. Chamber of Commerce on Tuesday sent a letter to Congress urging them to repeal the requirement that companies file to the IRS a 1099 form for purchases above $600.

President Obama in his Saturday address warned that Republicans were eager to privatize Social Security, but research by FactCheck.org finds his claim not to be entirely true.

Treasury Secretary Tim Geithner on Tuesday said Fannie Mae and Freddie Mac are in for a major overhaul to ensure the roles they played in the recent collapse of the housing market will not be repeated.

House and Urban Development Secretary Shaun Donovan adds that government footprint in housing needs to be smaller.

Bank repossessions of homes hit a record high during the second quarter, with over 260,000 properties returning to lenders, according to Foreclosure-Support.com, which analyzes home foreclosures.

The figure is up 5 percent from the previous quarter and up 38 percent from the second quarter last year.

Bank repossessions occur after a home has been in foreclosure for quite some time.

National Foreign Trade Council President Bill Reinsch on Monday warned that Mexico imposing additional tariffs on the United States will only add to the job woes facing this country.