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"It's up to us to confront the bitter reality that the government is bankrupt," he said in a televised address.
The number of laid-off workers will depend on how many accept voluntary buyouts and how many agree to cut their hours, he said.
"But I am frank," he said. "The quantity could be significant and I fear they could exceed 30,000 workers."
Though he did not lay out a timetable, Fortuno prefaced his prediction by calling for "immediate action" to emerge from a crisis that has left the government unable to pay its bills.
We have a state called California that is about to lay off 20,000 state employees for the very same reason. They are out of money, withholding state tax refunds that belong to the taxpayers to try and keep up and it's government cannot make any headway because of the in-fighting. Another state, Kansas, may be soon to follow.
Originally posted by czacza1
reply to post by David9176
trust me it is not only US. if the US is in a big s***, the rest of the world is also there. maybe except the countries like North Korea where they won't feel the difference.
I read today in some main stream source that they belive that in next 40 years the total number of people (including kids and rentiers) out of work will reach 98%. looks that we are going to have a lot of time for drinking.
but at least we will get closer to nature again.
"always look on the bright side of life...".
There is no economic downturn that could cause that rate of unemployment.