U.S. Economy Shrinks for First Time since 2011

The U.S. economy contracted in the first quarter for the first time in three years as it buckled under the weight of a severe winter, but there are signs activity has since rebounded.

NEWS WATCH: Smaller New Government To Tackle Hungary’s Economic Crisis

The incoming prime minister of Hungary, Viktor Orbán, has introduced ministers of what observers say will be the smallest Cabinet since the country’s communist regime collapsed in 1989. His incoming center right government will have to lift the European Union member from a deep recession.

Democratic Governors seeking Federal Funds

Five Democratic governors have presented a plan to Obama’s transition team and congressional leaders to pass a $1 trillion stimulus package to help states facing severe budget shortfalls. This year 41 states as well as the District of Columbia are facing deficits totaling $42 billion this year, according to the Center on Budget and Policy Priorities in a report seen by Worthy News Monday, January 5.

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