Bishops in the United Methodist Church have voted themselves a pay cut after “recognizing the financial challenges facing the church.”
The UMC’s 50 active U.S. bishops voted to give up their planned pay raises for next year and instead reduce their salaries to the 2008 level, dropping their annual pay from $125,650 to $121,000, according to United Methodist News Service.
The annual Family Fest at Bethany Christian Schools in Goshen, Indiana, is usually a joyous event as families auction off handmade quilts, furniture and other goods in the annual school fund-raiser. But this year, double-digit unemployment rates overshadowed the event with a sense of anxiety. The event failed to match last year’s proceeds.
Paul Krugman is one economist who can analyze the complexities of an economic crisis, propose solutions and make the discussion intelligible to the general public. In ten chapters Krugman diagnoses the current economic disaster from a historical perspective, suggests solutions, and along the way teaches readers a great deal about how the economy works.