Mike Dunton is a fellow member of our Rotary club, and is a Senior Vice President for Finance at Mt. Mckinley Bank.  He is presenting to us today about what is happening in the world economy, and America's economy in particular.

Mike Dunton not only has a Master's in Business Administration, he is a Certified Public Accountant.  Both his education and experience in the financial realm is extensive, particularly in regards to the practices and operating methods of banks.

He provided handouts to us that detailed such topics as current unemployment, long-term unemployment, the housing market, Social Security, among others.  He detailed the current financial situation on a macro-level, but also statewide here in Alaska.  Mike provided a particularly interesting perspective as to how our country's woes are creating unique challenges for banks such as his.  Not only current challenges, but also future challenges that become more likely the longer that people are out of work and having difficulty paying their bills.

Alaska is particularly sensitive to the spending habits of the U.S. government, as we have so many federal workers living and working in Alaska.  Military bases, research facilities, transportation facilities, and a host of other federal programs that require a great deal of federal spending are located here.  Alaskans in particular should pay attention to what is happening economically in this country, and this is one of those topics that Mike has taught us a great deal about.