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Related Debt News for our Dayton CA visitors

AP - A staggering 2.6 million jobs disappeared in 2008, the most since World War II, and the pain is only getting worse with 11 million Americans out of work and searching. Unemployment hit a 16-year high of 7.2 percent in December and could be headed for 10 percent or even higher by year's end.

AFP - President-elect Barack Obama said Friday that staggering new job loss figures showed the need for Congress to urgently pass his plan to revive the "dire" and "deteriorating" US economy.

AP - Facing unwelcome resistance from fellow Democrats, President-elect Barack Obama is encouraging critics of his $800 billion economic recovery plan to "just show me" their own ideas. With more than 11 million Americans out of work, Obama pressed Congress for urgent action Friday and said the U.S. is undergoing "a devastating economic crisis that will become more difficult to contain with time."

Reuters - The unemployment rate surged to the highest in nearly 16 years last month as a deepening year-long recession forced companies to axe more than half a million jobs, government data showed on Friday.

Reuters - President-elect Barack Obama, said on Friday that the latest grim unemployment report added urgency to the need to pass his $800 billion stimulus proposal, even as his efforts ran into difficulties in the U.S. Congress.

AFP - Former US Treasury chief Robert Rubin will step down from his special advisory role to banking giant Citigroup, the struggling bank said Friday.

AFP - Once he becomes president of the United States, Barack Obama should reform US export and visa controls for foreign students and scientists to benefit the economy and national security, a report recommended Thursday.

AFP - Oil prices fell close to 40 dollars on Friday after a highly volatile trading week as new US data showed rising unemployment and deepening recession in the world's biggest oil consuming nation.

AFP - US unemployment surged to a 16-year high of 7.2 percent as a deepening recession pushed employers to shed a massive 524,000 jobs in December, capping a yearly loss of 2.6 million, data showed Friday.

AFP - A US congressional panel Friday sharply criticized the Treasury for its handling of a 700 billion financial bailout fund, as lawmakers moved to demand more transparency and accountability.

Reuters - Boeing Co became the latest U.S. industrial giant to cut jobs on Friday, shedding 4,500 workers from its commercial plane operations, or about 7 percent of the unit total, as it looks to trim costs in the face of a global recession.

AFP - The euro fell sharply against the dollar despite weak US unemployment figures, which analysts said were in line with forecasts.

Reuters - Americans, already anxious about losing their jobs, faced Friday's news of deepening unemployment with grim resignation and vowed to cut their spending further, update their resumes and brace for survival in what many expect will be a long, painful recession.

AFP - US aerospace giant Boeing said Friday it would cut about 4,500 jobs beginning next month amid a weakening global economy.