The U.S. economy is suffering under crippling deficits, massive debt, and record unemployment. The country needs fresh ideas, novel solutions, and unorthodox measures to stimulate job growth, pay down debt, and balance its budget. Independents will be watching for policy proposals and candidates, who think outside the box, can make the tough decisions, and challenge the status quo when it comes to leading the economy out of a recession. This section will cover breaking news and developments related to the economic health of the country, states and individual citizens.
I was thrilled to learn some years ago that my trusted financial planner had not put any of my precious savings into a Bernie Madoff-managed fund. As a retiree without a pension, I live largely on my personal savings plus what I earn as a writer and my part-time work in the ski industry. But, I also depend on my monthly social security check. If I had lost my savings to the Ma
Renewable energy projects, plus research and development, were supposed to be major powerhouses in creating a new economy. Many hoped this could propel states like California and Nevada out of recession. Surely, if massive wind and solar farms were built, this would create hundreds of thousands of new jobs, or so they thought.
California agriculture showed increased farm revenue in 2010 but also paid more in expenses, two government reports show. Last year, California garnered a record $37.5 billion in receipts from its 81,700 farms and ranches, a
In more troubling economic news, a recent report released by the Sacramento-based California Budget Project stated that the percentage of working-age Californians with jobs has reached a new record low, and that employment levels may not fully recover until the second half of this decade.
In 1976, when Jerry Brown was California governor the first time, Chicago columnist Mike Royko famously dubbed him “Governor Moonbeam.” The moniker stuck, even if Royko later apologized for it. But perhaps he had a point after all.
Vallejo is the poster child for what’s ailing California cities. It filed for bankruptcy in 2008, a victim of the real estate crash, losing a major employer in the process, and facing pension costs it cannot possibly meet.
For most of the last decade, California was first or second in new business creation. In 2009, it ranked first. In 2010, new business creation imploded. Actually, that’s an understatement. California was almost dead last in 2010 with only Michigan behind them.
