"They have used every source of funding they know to stay alive. They have maxed out their credit cards, they've depleted their 401(k) (retirement plans) and borrowed from family and friends," said Cloutier, an industry consultant.
50% of workers are in small business. If even 10% fail you are looking at another 5 million unemployed. If GM and C go down, it will likey take 10% with it, on top of the current works which would be unemployed and the the pension mess on the other side.
Very grim times ahead.
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