 |  September 05, 2011 |
JOBS
This Labor Day, as unemployment sits stubbornly at 9.1 percent, President Obama is putting the finishing touches on a major “job creation” speech to be delivered in front of Congress on Thursday. What will he lay out in his new agenda? From the details that have emerged, there are signs that Obama will follow the advice of the last Democrat in his office, Bill Clinton, who outlined 14 ways to get America back to work in a Newsweek cover story in June. The Daily Beast’s John Avlon on why that’s a good thing for the country. Plus, see Clinton’s ideas, from cash incentives for startups to painting rooftops white. Broke
The U.S. Postal Service is so low on cash that it may have to shut down entirely this winter—unless Congress gives it a cash injection. The USPS will not be able to make a $5.5 billion payment due this month as it struggles to erase its deficit, which will hit $9.2 billion this year. “Our situation is extremely serious,” the postmaster general, Patrick R. Donahoe, tells The New York Times. “If Congress doesn’t act, we will default.” U.S. law forbids the USPS to take many of the steps it could to better its finances, like raising rates or selling things other than mail services. Donahoe is pushing major changes to help save money, including eliminating Saturday delivery, closing 3,700 post offices, and laying off 120,000 workers.
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