News release: “Last year began with the economy in a trough; many major U.S. corporations were either bailed out or taken over by the federal government, and the housing market was in the midst of one of the most brutal slumps in American history. Although recovery is now well under way, improvement has been slow and halting, with unemployment inching up toward 10% and housing starts still lagging. Consumer spending finally edged up over the course of 2009, but many people remained too concerned about their jobs and mortgages to open their wallets enough to jump-start the sort of roaring economic comeback that Americans seemingly have come to expect as a natural part of the business cycle.”
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