byDuncan L. DieterlyNews Bulletin
Dateline: November 23, 2013
made the blockbuster announcement today. As he declared it waswith great reluctance that he was forced to cancel all national holidays for December, thereactions have been angry and volatile. Additionally he warned that they may also be canceledthrough the 1
quarter of 2014. This news compounded by the newly instituted requirement thatbecame effective in August that all government employees work six days a week and nine hoursa day with pay for only a forty- hour week coupled with a temporary ban on all vacation days in2013 (Congress members and their staffs are exempted from these rules of course), the UnitedStates is experiencing the largest employee upheaval in the past three hundred and fifty years of its existence.Although the President apologized for yet another drastic act to curtail the spiralingdownward recession rate this year. That he pointed out began when the Republicans allowed usto go careening over the fiscal cliff in January. He indicated that he will continue do his best toput the brakes on the recession with a newly proposed doubling of the income tax rate for higher-income citizens (defined as anyone with an individual or joint income of over $500,000) toinsure that all folks are on all on an even playing field. He also specified that the unintendedincrease in the national deficit to 30 trillion was only a temporary blip that will work itself outsoon when we end the Israeli Palestine War next year. While in Congress the democrats arepushing forward another 100 billion stimulus bill to increase jobs.The shock waves have rippled across the economy. Some of the major results are aplunge in the already shaky stock marked of over 40% to an all-time low this year of 6,800.Heavily hit are manufacturing, airline and food product stocks, including the beverage industries.