The federal debt is at record levels and growing. States are "grappling with unprecedented fiscal crises," a new report says. And Europe's debt mess threatens the world economy. Some scholars think, like Plato, that democracy is the problem.
Though the central bank expects "moderate" economic growth in coming quarters, Bernanke offers a sober assessment of current conditions. But there is brighter news: Home builders say they're growing more confident about the housing sector's recovery.
"Moderate to extreme" drought conditions already exist in about 55 percent of the continental U.S. No relief is in sight. There are warnings this could be one of the 10-most expensive weather disasters in U.S. history.
The Republican presidential candidate says he wants to revive an idea first tried under the Bush administration: the personal re-employment account. Long-term unemployed people would get a lump sum to spend on job retraining and education. The idea was tried in eight states in 2004 and 2005.
Recent law school grads are facing one of the worst job markets in decades. But there's one place where law firms are hiring — rural America, where some counties are served by just one or two attorneys. Now some law schools in Iowa and Nebraska are trying to encourage their students to reconsider practicing law in small towns.
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