Warren Buffet Turns Sour on Muni Bonds.  Thanks to Massive Underfunded Pensions, Dwindling Revenues and Inability to Raise Taxes – State and Local Agencies Are in for a Rough Ride.  Over $14 Billion of Muni Bond Defaults in 2008 and 2009.  This may be just the tip of the iceberg.

http://www.moneynews.com/StreetTalk/warren-Buffett-Municipal-Debt/2010/06/03/id/360924?s=al&promo_code=A01D-1

U.S. Unemployment Continues to Challenge Recovery.  Census Workers Cannot Cure the Problem (WSJ).

http://online.wsj.com/article/SB10001424052748704764404575286263535019280.html?mod=djemalertNEWS

Long-Term U.S. Problems Continue (The Economist) -

http://finance.yahoo.com/tech-ticker/%22longer-term-issues-for-america-are-really-really-serious%22-bishop-says-498808.html?tickers=%5Edji,%5Egspc,tlt,tbt,euo,man&sec=topStories&pos=9&asset=&ccode=