ABCNews focuses on economic gloom and doom. The national unemployment rate rose again and it now stands at 7.3%, the highest in more than six years. But 160,000 new jobs were added to the economy, with retailing and service industries having large gains. The US Secretary of Labor Lynn Martin tries to spin this as a positive.
Report on what has happened in Norwood Ohio since the GM assembly plant which employed 4,300 people closed four years ago. The report turns out to be all about the loss of taxes. The city had to cut services and schools had to cut staff. The closing did little damage to the local economy, but the plant closing affected the public sector because of the loss of industrial-related property tax revenue.
21 авг 2024
