Road to Depression

Extending unemployment benefits creates joblessness!

NEW YORK - August 2, 2009 - Extending unemployment benefits will encourage people not to look for work, says Michelle Malkin.

The writer and columnist told a roundtable panel on ABC’s This Week that “there are a lot of these smart economists who say that if you keep extending these temporary unemployment benefits, you’re just going to extend jobless

Road to Depression

Depression worst than prior estimates!

NEW YORK - August 1, 2009 - The first 12 months of the U.S. Depression saw the economy shrink more than twice as much as previously estimated, reflecting even bigger declines in consumer spending and housing, revised figures showed.

Road to Depression

Weak treasury auctions raise worries about U.S. debt burden!

NEW YORK - July 30, 2009 - The U.S. Treasury sold $39 billion in five-year debt Wednesday in an auction that drew poor demand, raising worries over the cost of financing the government's burgeoning budget deficit.

Road to Depression

U.S. Postal Service struggling for survival!

WASHINGTON - July 30, 2009 - Lawmakers on Thursday will consider various proposals to restructure the U.S. Postal Service, just days after government auditors warned that it must quickly address its financial viability.

Road to Depression

Jobless claims rise more than expected!

WASHINGTON - July 30, 2009 - The number of U.S. workers filing new claims for jobless benefits rose slightly more than expected last week, but a gauge of underlying labor trends fell for a fifth straight week, government data showed on Thursday.

Road to Depression

Verizon to cut 8,000 employee jobs!

NEW YORK - July 27, 2009 - Phone company Verizon says it will cut 8,000 jobs from among employees and contractors before the end of the year to keep costs in line as the Depression saps demand from businesses for telecommunications services.

Road to Depression

Actual unemployment rate hits a 68-year high!

NEW YORK - July 26, 2009 - Although you have to dig into the statistics to know it, unemployment in the United States is now worse than at any time since the end of the Great Depression.