WASHINGTON - May 25, 2010 - Paychecks from private business shrank to their smallest share of personal income in U.S. history during the first quarter of this year, a USA TODAY analysis of government data finds.

At the same time, government-provided benefits - from Social Security, unemployment insurance, food stamps and other programs - rose to a record high during the first three months of 2010.

Those records reflect a long-term trend accelerated by the Depression and the federal stimulus program to counteract the downturn. The result is a major shift in the source of personal income from private wages to government programs.

BRUSSELS, Belgium - May 24, 2010 - Europe's economy will stagnate unless governments make major reforms to boost growth - just as they rein in spending to curb soaring debt levels, the European Union's economy chief warned Tuesday.

Low growth prospects and rocketing debt in many of the EU's 27 nations have alarmed financial markets in recent months, causing stocks to slide and the euro to fall sharply in value to a four-year low against the U.S. dollar.

NEW YORK - May 24, 2010 - The housing slump isn't over. Tax credits and historically low mortgage rates have failed to lift home prices so far this year. Prices fell 0.5% in March from February, according to the Standard & Poor's/Case-Shiller 20-city index released Tuesday.

The co-creator of the Case-Shiller index, who predicted in 2005 that the housing bubble would burst, is raising concerns that the worst may still be ahead. That fear is shared by other economists who point to weak job growth, tight credit and many more foreclosures ahead.

BUCHAREST, Romania - May 20, 2010 - In one of the largest mass protests since the fall of communism, around 50,000 Romanians took to the streets of Bucharest on Wednesday.
 
They are furious at drastic cuts to state wages and pensions proposed by the government to reduce the country’s ballooning budget deficit.
 
“I am a pensioner after 40 years of working and they want to cut 15%of our pensions. How will we live from now on?” asked one angry woman.
 
Protesters say they should not have to pay for the government’s corruption. But the government says its hands are tied.

NEW YORK - May 20, 2010 - The stock market tumbled again Thursday after another drop in the euro and disappointing U.S. employment news darkened investors' already bleak view of the world economy. Interest rates fell sharply in the Treasury market as investors once again sought the safety of U.S. government debt.

LONDON, England - May 20, 2010 - Shocked European ministers are preparing for emergency talks to shore up the euro after markets fell in reaction to panic measures in Germany.

WASHINGTON - May 19, 2010 - The mortgage crisis is dragging on the economic recovery as more homeowners fall behind on their payments.