Good News, Bad News
The following is more bad news for Americans but it will ultimately be good news for those who have protected themselves with gold.

Cities threaten to cut 500,000 jobs
NEW YORK (CNNMoney.com) -- Cash-strapped cities and counties have been cutting jobs to cope with massive budget shortfalls -- and that tally could edge up to nearly 500,000 if Congress doesn't step up to help.

Local governments are looking to eliminate 8.6% of their total full-time equivalent positions by 2012, according to a new survey released Tuesday by the National League of Cities, the National Association of Counties and United States Conference of Mayors. continue