Illinois is warned on taxes, the U.S. on its debt load. Duh.
A decade ago, Mr. Slaughter, who consults for several big companies and trade associations, drew attention with his observation that "for every one job that U.S. multinationals created abroad...they created nearly two U.S. jobs in their [U.S.-based] parents." That was true in the 1990s, he says. It is no longer.
The Commerce Department's summary of its latest annual survey shows that in 2009, a recession year in which multinationals' sales and capital spending fell, the companies cut 1.2 million, or 5.3%, of their workers in the U.S. and 100,000, or 1.5%, of those abroad.
Meanwhile, our President Barack Obama, fresh from meeting with blood libel Al Sharpton and trashing responsible GOP budget proposals, ignores the S&P warning and touts...what. Immigration. One of Americans' last priorities in this jobless, sluggish recovery.