As the debt ceiling negotiations drag on, companies continue to announce layoffs. The maker of the Blackberry is in response to weak sales. Cisco announced 6500 job cuts last week, and the bankruptcy of Borders is affecting 10,700 workers. Even Goldman Sachs is cutting 1000 jobs due to a weak trading environment.
As Laura”s two previous posts discuss, the explosion of debt is a critical issue that Washington must address. Our lawmakers need to look at the problems of modern day Rome to see where we are headed.
