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ghoster
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Was the word "Unexpected" used in that article?
As democracy is perfected, the office of president represents, more and more closely, the inner soul of the people. On some great and glorious day the plain folks of the land will reach their heart's desire at last and the White House will be adorned by a downright moron."
- H.L. Mencken |
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FatalWishes
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Banks shuttered in Fla., Ill., Md., Utah
| Quote From Source: | Regulators shut down banks in 4 states, making 26 US bank failures this year
Regulators on Friday shuttered banks in Florida, Illinois, Maryland and Utah, boosting to 26 the number of bank failures in the U.S. so far this year following the 140 brought down in 2009 by mounting loan defaults and the recession.
The Federal Deposit Insurance Corp. took over Sun American Bank, based in Boca Raton, Fla., with $535.7 million in assets and $443.5 million in deposits. Also seized were Bank of Illinois of Normal, Ill., with $211.7 million in assets and $198.5 million in deposits; Waterfield Bank in Germantown, Md., with $155.6 million in assets and $156.4 million in deposits; and Centennial Bank in Ogden, Utah, with $215.2 million in assets and $205.1 million in deposits.
First-Citizens Bank & Trust Co., based in Raleigh, N.C., agreed to assume the assets and deposits of Sun American Bank and to share losses with the FDIC on $433 million of the failed bank's loans and other assets. It was First-Citizens' fourth acquisition of assets of a failed bank since last July; the others were First Regional Bank of Los Angeles, Venture Bank of Lacey, Wash., and Temecula Valley Bank of Temecula, Calif.
| | Click source url to view entire story. |
Source Yahoo Finance
Source URL:
http://finance.yahoo.com/new...l-Md-apf-2958911227.html?x=0
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DanG
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DanG has attached this image:
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DanG
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State Tax Revenues Plummet By $87 Billion, Biggest Year Over Year Decline In History
| Quote From Source: | The Center on Budget and Policy Priorities has released a report "State Tax Changes in Response to the Recession" in which the center notes that "national recession has had such a devastating effect on state finances that states took in $87 billion less in tax revenue from October 2008 through September 2009 than they collected in the previous 12 months. This 11 percent decline, the steepest on record, resulted from the impact on tax collections of lost jobs, reduced wages, and lowered economic activity."
| | Click source url to view entire story. |
http://www.zerohedge.com/art...line-history-record-state-ta |
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DanG
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Illinois Budget Crisis 2010: Big Cuts Coming For Schools, Police, Child Care
Illinois to layoff 17,000 Teachers!
http://www.huffingtonpost.co...dget-crisis-20_n_490973.html
repeat after me
there IS a recovery
there IS a recovery
th ... hey you're not repeating it
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FatalWishes
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Gov. Pat Quinn budget proposal: Borrow $4.7 billion
| Quote From Source: | Gov. Pat Quinn on Tuesday unveiled a caustic budget plan that would borrow billions of dollars to stay afloat and push even more debt down the road, hoping to persuade leery lawmakers to instead raise taxes in an election year.
Quinn aides warned the plan would cost some 13,000 teachers and staff their jobs, cut off poor seniors from help in paying for costly prescriptions and shut down some health care programs for the indigent. But even after about $2 billion in cuts, the state would still be $11 billion in the hole.
The administration's warnings served as the precursor for the Democratic governor's Wednesday budget address before a joint session of lawmakers who want to wrap up their business in two months so they can focus on their re-election.
| | Click source url to view entire story. |
Source Chicago Tribune
Source URL:
http://www.chicagotribune.co...310-20100309,0,4279309.story
OH'boy Ill. is truly in deep. I see a snowball at the peak of a mountain starting to roll down hill.
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DanG
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once again let me point out - these are the official numbers
| Quote From Source: | Lee County's unemployment rate hits 14.1 percent; state rate ties record
Lee County's unemployment rate climbed to 14.1 percent in January, up sharply from a revised rate of 13.4 percent in December, according to data released today from Florida's Agency for Workforce Innovation.
Collier County's rate jumped to 12.7 percent, up from 12 percent in December and 8.8 percent in January 2009. Charlotte County's rate was 13.8 percent in January, up from 12.8 percent in December and 10.7 percent a year ago.
Statewide, Florida matched its highest-ever unemployment rate in January at 11.9 percent with 1.1 million Floridians out of work.
| | Click source url to view entire story. |
http://www.news-press.com/ar...USINESS/100310007/1002/rss01 |
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FatalWishes
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Unemployment rises in 30 states in January
| Quote From Source: | Unemployment rose in 30 states in January, the Labor Department said Wednesday, evidence that jobs remain scarce in most regions of the country.
The data is somewhat better than December, when 43 states reported higher unemployment rates, but worse than November, when rates fell in most states.
Still, five states reported record-high joblessness in January: California, at 12.5 percent; South Carolina, 12.6 percent; Florida, 11.9 percent; North Carolina, 11.1 percent; and Georgia, 10.4 percent.
Michigan's unemployment rate is still the nation's highest, at 14.3 percent, followed by Nevada, with 13 percent and Rhode Island at 12.7 percent. South Carolina and California round out the top five.
There were some signs of job creation. Thirty-one states added jobs in January, up from only 11 in the previous month. But the job gains weren't enough, in many cases, to lower the unemployment rate.
| | Click source url to view entire story. |
Source Yahoo Finance
Source URL:
http://finance.yahoo.com/new...;pos=2&asset=&ccode=
I heard on the radio the other day that Detroit used to be the biggest city and now it's number 11 in size.
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FatalWishes
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Budget deficit sets record in February
| Quote From Source: | The government ran up the largest monthly deficit in history in February, keeping the flood of red ink on track to top last year's record for the full year.
The Treasury Department said Wednesday that the February deficit totaled $220.9 billion, 14 percent higher than the previous record set in February of last year.
The deficit through the first five months of this budget year totals $651.6 billion, 10.5 percent higher than a year ago.
The Obama administration is projecting that the deficit for the 2010 budget year will hit an all-time high of $1.56 trillion, surpassing last year's $1.4 trillion total. The administration is forecasting that the deficit will remain above $1 trillion in 2011, giving the country thrree straight years of $1 trillion-plus deficits.
| | Click source url to view entire story. |
Source Google
Source URL:
http://www.google.com/hosted...w1ofv-BiXk2MoSXknwQD9EBVD6G0
This is all assuming the government keeps spending the same amount. I don't see it. I see them spending more and more.
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posted on 3/3/2010 at 07:56
