economic decline

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'Recovery' Looking Like 10-Year Recession

Uncertainty is the 'new normal' in America

(Newser) - For many Americans, "recovery" feels a lot like recession—and it may take a decade for that to change, finds the New York Times . At the current rate of job creation, for instance, it would take nine years to recapture jobs lost thus far. Home prices, meanwhile, are down... More »

Battered Detroit Plans to Raze 25% of City

Mayor sees shrinking city as way to close massive deficit

(Newser) - Battered Detroit wouldn’t have to struggle to pay for services in the vast areas of the city that are essentially abandoned if they didn’t exist—so it’s going to bulldoze them. Mayor Dave Bing did the calculus on a $300 million budget deficit and the 33,500... More »

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