Friday, August 28, 2009

Daily Briefing, 8/28/2009

Good morning everyone! Here is today's Daily Briefing.

In Lehigh County, at a Chamber event yesterday, County Executive Don Cunningham unveiled his budget that will have no tax increase. The budget will tap tax relief funds previously set up by the County. In Allentown, the school district will cut $3.8 million from its budget, including tapping $1 million from its reserve fund, in anticipation of losing funding from the state. In business news, Mack Trucks found saw truck deliveries fall 25% compared to July of last year with its year-to-date sales down 38%.

In national news, a new poll has President Obama's approval rating below 50% - at 48% - for the first time. However, the poll also notes that 24% of Americans believe the economy is getting better (up from 4% in February) and only 36% think its getting worse (down from 69%). Two reports are expected today that economists expect to confirm that the economy is improving - increases are expected in personal income and consumer spending levels.

We have two Chamber events today: a ribbon cutting at Infini-tee and our annual End of Summer Picnic - and this is a big one!

That's it! We hope to see you at our Summer Picnic, and either way, have a great weekend!

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