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Detroit is broke. Dead broke. The Motor City has been hit hard by the economic downturn, and filed for Chapter 9 bankruptcy protection Thursday (July 18).
Today’s release of the U.S. Labor Department’s statistic for the month of February marked good news for stock holders as 236,000 new jobs were added to the U.S. economy. As it stands, the unemployment rate fell to 7.7 percent, its lowest figures in over four years.
As President Obama prepares for his State of the Union address, House Speaker John Boehner is throwing criticism his way. With the fiscal crisis still hovering over the commander in chief’s second term, Boehner believes that the president is too chicken to actually to cut spending.
Now that the celebration is over, President Obama is ready to begin his second term, and his cup runneth over with items to tackle. The commander is set to get to work on fiscal deadlines, including the debt limit, which is expected to be raised following a House vote, tomorrow.
The number of Americans unemployed and seeking assistance dropped to a five-year low, the Labor Department announced Thursday (Dec. 27). The four-week average was at 356,750, as weekly applications fell to 12,000 for the week ending on Dec. 22. However, the figures were adjusted due to the holiday season, as many state unemployment offices were […]