Troubles aren't over, but AP map shows slower pace of decline i...

Full story: Newsday

The recession's grip loosened slightly this spring as seasonal hiring picked up and helped offset rising bankruptcies and foreclosures, according to the Associated Press' monthly analysis of the economic pain in more than 3,100 U.S. counties.
Comments
1 - 5 of 5 Comments Last updated Jul 7, 2009
Curious George Socialist

Bridgeport, CT

#1 Jun 8, 2009
Good news unemployement is 9.4% and risising but not rising as fast.
Only Wall street and the bailout crooks reaping the rewards of there dishonest deeds supportet by our liberal Pres and Congress using hard working middleclass taxpayers money(Trillions) will pay for it.The surfs loose again.
Rember in November,and vote these kings out.
George Bush War Criminal

White Plains, NY

#2 Jun 8, 2009
it will take years to get over the misguided policies of the Republican Bush era.

Thank a republican today for the 10% unemployment.
Curious George Socialist

Bridgeport, CT

#3 Jun 8, 2009
George Bush War Criminal wrote:
it will take years to get over the misguided policies of the Republican Bush era.
Thank a republican today for the 10% unemployment.
Time will tell who's right,just be honest enough to admit your wrong when the time comes,and if I'am wrong I will admit it.
Fiddle Sticks

AOL

#5 Jul 7, 2009
This so-called 'recession' in the US will NOT end!
This is no ordinary cyclical 'recession', what we're experiencing is the results of a burst bubble {housing} that was driven by pure and simple stupidity. Non-underwritten mortgages that were bundled into derivatives and for which creditr default swaps were issued against was doomed to implode.
You don't build {aka:'grow'} an economy on smoke and mirrors. Sure, you can build countless condos in a desert {Vegas}, give mortgages to the skillless poverty-striken with no income documentation, etc, etc, but - eventually, the piper will need to be paid. America doesn't make anything {apart from debt} any more. Only 17% of our GDP is from manufacturing. We delude ourselves that we can be a service-driven economy, yet, we've the highest illiteracy rate of the traditional industrialized world and a huge under-class of under-educated and unemployable people - our perpetual 'entitlement' recipient class. We've an outrageous infant mortality rate created by poverty, ignorance and drug abuse. Our infrastrcuture is antiquated - at best, deadly - at worst. While other countries are building state of the art high speed rail that moves at speeds of up to 240mph, we're sitting in gridlock on our 1940's highways.
Meanwhile, we're still importing the vast majority of our energy needs from our 'friends' at OPEC and running up debt like there's no tomorrow. Underfund obligations for Social Security and Medicare beg the question of what to do about America's aging demographics. Countless millions of illegals sucking at the public/taxpayer-fed trough and the bailed-out industries are leaving for greener pastures: China and India.
If there is such a thing as a 'recovery' from this G*d-awful mess it'll be a jobless recovery. Our tax-code still encourages out-sourcing. Our trade policies still encourage importing. How many years has it been since we had a trade surplus?
Face facts, the REAL unemployment rate in America is already well over 20%. The 'official' figures don't count those who've run out of their unemployment benefits, those who are self-employed, those who are part-time and/or under-employed, those who've never come up onto the radar {recent college graduates, high-school drop-outs and/or the purely unemployables of the entitlement classes. Add all of these folks together and add them to the 'official' numbers and we're well past a 20% REAL unemployment rate ALREADY! Now, factor out the children, the disabled, the aged and America's looking like a profound disaster area. With over a third of America being unemployed and easily half of the 2/3rds that remain ill equiped to contribute, the ever shrinking/endangered species of the vanishing middle-class American taxpayer is... screwed! We simply can NOT have 1/3 supporting 2/3rds, let alone ever epxect to either pay down our deficits, meet our future unfunded obligations and/or even to pay the juice on our national debt.
Defaults and bankruptcies - on a scale{s} not seen since 1933 are in our future; there's no question of this. Now all we need is a dustbowl to make it official. We're not in any lightweight 'recession', we're on the brink of a full blow DEPRESSION!
Pfluger the Union Monkey

Boston, MA

#6 Jul 7, 2009
Nonsense. The next wave of foreclosures is now on its way. The so-called Alt-A and the Helocs are now starting to default.

Obama's mortgage modification plan has been a dismal failure.

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