◼ It will be the latest sobering economic milestone that few were hoping to see: The U.S. national debt – any day now – will soar above the $15 trillion mark. - ABC News
As of this writing, the total debt is $14.97 trillion, so moving beyond the symbolic $15 trillion is a foregone conclusion. When the unwelcome milestone is reached, it will come at a volatile time both in this country and abroad....
The approaching $15 trillion debt milestone is not even the only piece of bad economic news for the country. The jobs report for October – released this morning – showed that U.S. employers added an estimated 80,000 jobs to their payrolls last month, worse than economists expected. The unemployment rate decreased to 9.0 percent, down from 9.1 percent a month earlier, small consolation for a nation still struggling to recover from a severe recession.
◼ Jobs Report: 'Things Are So Bad That This Looks Good' - CNBC
"We've been at 9 percent since 2009. This is a major problem," said Greenhaus. "Nine percent unemployment rate is damaging to the economy and (Fed chairman Ben Bernanke) couldn't have been clearer in the press conference (this week). He was specific. That you have to attack the unemployment rate while it's still attackable."
