The real unemployment rate is remarkably stable and it hovers around 41 percent. Demographically, about 80,000,000 Americans are minors and about 40,000,000 are age 65 or older. That leaves approximately 190,000,000 Americans who are adults of working age. About half of those do not have a fulltime job.
In a landmark step with global implications, the Federal Reserve — despite national security concerns — approved the first communist Chinese takeover of a U.S. bank: New York's Bank of East Asia.
Agriculture Secretary Tom Vilsack says spending cuts proposed by House Republicans are creating an obstacle for passage of a new farm bill.
Solar Trust of America, an energy firm based in Oakland, California, declared bankruptcy on April 2, fewer than 10 months after breaking ground on a project near Blythe, California, that was to be the world’s largest solar power energy project built on public lands. In its bankruptcy filing, the company claims to have assets of up to $10 million. Those assets, however, are dubious, consisting primarily of the Blythe project and another project in Riverside County, California, neither of which has gotten off the ground. Meanwhile, its liabilities may run as high as $100 million.