Mike Pouraryan
The Economic Tsunami Chronicles (2009 1st Edition)
:
The suffering continues...with no end in Sight....
Gaza continues to burn. Yet, other challenges continue to overwhelm us. Just today, over 200 members of the Orange County California Social Services Agency have received their layoff notices. This is to try and bridge a 30 Million Dollar Budget gap. One of them is an Army Reservist serving in Iraq right now. In the Los Angeles Unified School District, letters having gone out to 3,000 non-permanent teachers telling them that they may not have a job next year. It is not pretty at all right now. At the State level, The State of California continues to grabble with a 18 Billion Dollar Budget Deficit. On the Business Front, Alcoa has announced a 13% Job Cut and massive reductions in its capital spending.
These developments are quite worrisome. I saw the "celebrations" as the New Congress began its work on Tuesday. Although I was not in Washington, it was as if I was in the visitors gallery watching the proceedings. The House Majority Leader has said that the stimulus package is going to be delayed. While the politicans meet and greet, ordinary people are losing their jobs and are losing hope. That's the problem as I see it. The President-Elect seems to understand it based on what I have seen so far:
These developments are quite worrisome. I saw the "celebrations" as the New Congress began its work on Tuesday. Although I was not in Washington, it was as if I was in the visitors gallery watching the proceedings. The House Majority Leader has said that the stimulus package is going to be delayed. While the politicans meet and greet, ordinary people are losing their jobs and are losing hope. That's the problem as I see it. The President-Elect seems to understand it based on what I have seen so far:
