Let the Recovery Summer begin...

[Sasquatch]

Administration Kicks Off "Recovery Summer" with Groundbreakings and Events Across the Country

The Administration today kicks off “Recovery Summer,” a six-week-long focus on the surge in Recovery Act infrastructure projects that will be underway across the country in the coming months – and the jobs they’ll create well into the fall and through the end of the year.  

http://www.whitehouse.gov/the-press-office/administration-kicks-recovery-summer-with-groundbreakings-and-events-across-country

Now for reality:

U.S. Employers Shed Jobs

http://online.wsj.com/article/SB10001424052748703309704575412990024153682.html?mod=WSJ_hpp_LEFTTopStories

Jobs Picture Worsens With 131,000 Losses; 9.5% Rate

In addition, the government revised payrolls for May and June to show 97,000 fewer jobs than previously reported.

http://www.cnbc.com/id/38590746

Social Security in the red this year

Social Security will pay out more this year than it gets in payroll taxes, marking the first time since the program will be in the red since it was overhauled in 1983

http://www.washingtontimes.com/news/2010/aug/5/social-security-red-first-time-ever/

Record Number of Americans Receiving Food Stamp Benefits

http://www.foxnews.com/politics/2010/08/05/record-number-americans-receiving-food-stamp-benefits/

Fannie Mae Seeks $1.5 Billion From U.S. Treasury After 12th Straight Loss

http://www.bloomberg.com/news/2010-08-05/fannie-mae-seeks-1-5-billion-from-u-s-treasury-after-12th-straight-loss.html

UPDATE 1-US Postal Service loses $3.5 bln in third quarter

"Given current trends, we will not be able to pay all 2011 obligations," said Joseph Corbett, the agency's chief financial officer.
http://www.reuters.com/article/idUSN0517225620100805

Have a good day and great weekend.

[Jeremy Roenick]

U.S. Employers Shed Jobs

We need to "shed" some Congresscritters this November.

Just wait til they bailout the "States" with their aid package to fund state government employees.  And they're kicking around the bailout of mortgage holders that are underwater.  The debt hasn't seen anything yet.

Collapse is coming.  Are you and your family ready?

[Jeremy Roenick]

Update...

Layoffs at my office today.  A handful sent packing, including the fellow in the office next to me.  Bless their souls.

Most of these were short-timers, but a few were long.  I'll be lucky to have this job in 6-9 months.