15 US States are almost bankrupt - rizona, Florida, Illinois, Michigan, Nevada, New Jersey, Oregon, Rhode Island and Wisconsin, Colorado, Georgia, Kentucky, NewYork, Hawaii
Sonja Sonders
Nov. 12, 2009

At the same time, higher joblessness and underemployment mean more people need government-sponsored health care and social safety-net programs, further taxing state services.

Fifteen States are about to declare bankruptcy.

Drastic financial remedies are no longer limited to California, where a historic budget crisis earlier this year grew so bad that state agencies issued IOUs to pay bills.

The other fourteen states are in deep trouble.

Gov. Arnold Schwarzenegger estimates California will run a deficit of $12.4 billion to $14.4 billion when he releases his next spending plan in January. The governor warned that the toughest cuts are ahead. "I think that we are not out of the woods yet," Schwarzenegger said this week.

15 US States are almost bankrupt - rizona, Florida, Illinois, Michigan, Nevada, New Jersey, Oregon, Rhode Island and Wisconsin, Colorado, Georgia, Kentucky, NewYork, Hawaii
Sonja Sonders
At the same time, higher joblessness and underemployment mean more people need government-sponsored health care and social safety-net programs, further taxing state services.
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Orders for Japanese machinery rose more than twice the pace economists estimated in September, 10.5 percent from a month earlier
Ken Roberts
The yen rose sharply on the news. Gold is also moving up sensing hyperinflation. The data issignaling that a recovery in the world’s second-largest economy may be sustained.
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Sprint Nextel Corp is taking actions to eliminate 2,000 to 2,500 jobs in the current quarter
Tania Harding
It will take a charge of $60 million to $80 million in the current quarter for severance payments and other costs related to the cutbacks
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More than 15 million Americans are out of work and 3.5 million lost their jobs this year
Fred Day
They do not call it a depression, it is far worse than a depression because another 150 million Americans are deeply underemployed.
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US depression a reality as 101-year-old commercial lender, filed for bankruptcy
Peter Oberois
US economic depression is real. There is no way the Federal Reserve and the bail out mecahnisms can continue to provide endless fiscal bailout money to these institutions.
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Unemployment claims, fall in payrolls will point to accelerating deterioration in job market while hyperinflation in borrowed stimulus driven commodities
Sam Adelton
The picture is clear. It is a failure of fiscal policies that was an entension of failed Bush policies. The job market went no where, while oil went to $80 a barrel, gold, $1050 an ounce.
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U.S. Stocks sharply down over declining consumer spending
Sam Adelton
Spending by U.S. consumers fell in September for the first time in five months. It is the firsdt sign of the trillion dollar stimulus effect getting exhausted.
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