Dem: "We're giving relief to people that I deal with in my office every day now unfortunately. But because of the longevity of this recession, these are people -- and they're not minorities and they're not defective and they're not all the things you'd like to insinuate that these programs are about -- these are average, good American people.�
Germany's Finance Ministry has slashed the budget for several climate protection projects, reports Der Spiegel.
The Ministry says the recession forced the cuts to be made.
The CBO is forecasting that the Social Security system will pay more in benefits than it collects in payroll taxes this year.
This watershed moment wasn't expected for another six years, but the recession has accelerated the timetable by putting millions of Americans out of work meaning they've stopped paying into the system.
Source:
http://theweek.com/article/index/201297/Is_Social_Security_doomed
26-year-old Andrew Benton does not expect to hold a traditional 9-to-5 job unless he starts his own business again, and he is not overly concerned on the recession's longterm effect on his career. Whatever you make of this attitude, Benton is arguably the prototype of the new and perhaps ideal worker in the post-recession economy.
Grim Outlook On the Economy Right Before the Elections
As retail sales decline, manufacturing slows and unemployment benefit claims rise, the economic situation looks more grim by the day.
Rises in the stock market that show a glimmer of hope are invariably followed by dips. The housing markets declines steadily and the recession shows signs of lingering well into next year. George Bush has called for a mid November summit to discuss the inter
The full story is here:
http://inspiredeconomist.com/2008/10/22/election-coundown-socialism-vs-capitalism/
