Video: New School Protesters Beaten, Arrested (Again)
B&H Photo Video Sued For Gender Bias
Person Fatally Struck By G Train At 7th Avenue Subway Station
16-Year-Old Confesses To Shooting That Caught Girl In Crossfire
Sexual Harassment On Subways An "Underreported Crime"
From the White House
After the U.S. Department of Labor announced that October's unemployment rate was 10.2%, one thing that was left unsaid was the number of people who have been unemployed so long they've given up looking for work, not to mention the people who are working part-time but would rather be in full-time jobs. According to the NY Times, "In all, more than one out of every six workers — 17.5 percent — were unemployed or underemployed in October. The previous recorded high was 17.1 percent, in December 1982."
After the DOL's unemployment numbers announcement, Christina Romer, the chair of the President's Council of Economic Advisers, posted this chart some and thoughts to the White House's blog, writing, "Today's employment report contained both signs of hope for recovery and painful evidence of continued labor market weakness," noting that the "steady trend of moderating job loss that began last spring" was continuing and there is a "typical lag between GDP growth and unemployment decline." In other words, the stimulus hasn't been factored in yet!
However, she added, "Having the unemployment rate reach double-digits is a stark reminder of how much work remains to be done before American families see the job gains and reduced unemployment that they need and deserve." NY Times op-ed columnist Charles Blow agrees—and thinks President Obama needs to act quickly on this issue and wants him to stop blaming President Bush to leaving him this mess.
add to stumble upon
add to reddit
tweet this
post to facebook
Frontline had another great show on the whole recession unemployment meltdown greed year.
"close to home"
if you're over 50 good luck finding a job in like forever, I would say 40 is just as bad.
Just don't ever ever sell your guns.
you know how to get people to work? how about a whole new Public Works program. Because the riches on wall street ain't giving out their well paying "pay us well or we'll leave" jobs.
That was one heck of an economic "stimulus" Obama...maybe if you throw a few more billion at ACORN things will turn around. While you're at it, print a few more trillion dollars we don't have and devalue the dollar some more. Obama's economic policy is truly multicultural however. It's a cross between Weimar Germany, Cuba and Zimbabwe.
Ladies and gentlemen, as history has abundantly taught us, socialism and government 'central planning' does not work.
I think that is too extreme (comparing it to Weimar and Zimbawe).
I used to believe that, but the more I look into these matter the more it's looking like the US turning into Japan of the early 90's (post-bubble) and/or during and after the collapse of the Soviet Union.
Sadly on par for IOM.
I'm shocked that he didn't do an outright Hitler comparison.
Back on topic: After years of building up this disaster, there simply won't be a quick fix no mater who is the POTUS.
It doesn't matter who is president and never has. Third World, here we come.
I think it will be a keen to the Second World or Post Soviet Union Collapse.
What exactly is Obama supposed to do about it? Wave his magic wand and make all the problems go away? Blow, shockingly, doesn't have any good suggestions, just complaints. I would really love it if all editorialists, when whining, were required to also supply a possible solution to the problem about which they are whining. Not that I think Obama is doing some sort of spectacular job, but I never expected miracles. Even if they do try to do something, it won't happen overnight. It will take months at least, probably more like years.
We're running on three cylinders: health care, high tech, and government. Every other sector has either been battered or is in a slow decline. Because of 30 years of overspending, de-industrialization, credit bubbles and negative wage growth we suddenly find ourselves with 300 million people in an economy sized for 250 million. So maybe we can learn something from China which has 1.3 billion people in an economy fit for 400 million?
"We're running on three cylinders: health care, high tech, and government. "
Barring a miracle, Health care is about to slide down the govt / union rat hole. That means more and more govt paychecks will be going to people who will need to keep voting back in the same scum who are taxing us and signing the govt worker's paychecks.
I just can't wait to see all the 20 something and gen x ogabe voters who go over the minimum earnings requirements and then face fines or jail for not buying their own MANDATORY GOVT healthcare.
Solve the economic crises? STOP PRINTING MONEY AGAINST USELESS CREDIT, AND LOWER TAXES ON THE MIDDLE CLASS AND SMALL BUSINESS OWNERS SO THE FORMER CAN SPEND AND THE LATTER CAN INVEST AND HIRE.
Spot on, NannyState.
Heard an interesting stat from a talk given by Reagan's education secretary...After being #1 for probably over a century, the US has sunk to around #22 in the number of 25 year old college graduates. For comparison, #21 is Bulgaria and #23 is Costa Rica. Historically, these numbers correlate to national income about 25 years down the road...meaning in 25 years, US income could be around the same as poor countries in eastern Europe and central America.
Fascinating, I can't believe it has come to this.
Interesting. I'd like to see Bill Bennett's citation for this figure. I searched a bit after seeing your note and only found something that further obfuscates the assertion:
"The U.S. is already second only to Norway in the percentage of adults age 25 to 64 with a four-year degree, and trails by just 1 percentage point."
Source: http://www.factcheck.org/2009/03/education-spin/
Wow, not sure what planet my brain was on when I typed that and how I decided the guy was Reagan's education secretary.
Austan Goolsbee, said it...he's Obama's chief economist. Anyway, here's the video.
it isn't coincidence that while our economy is floudering, India and China have roaring economies. The wealth class has engineered our government to allow them to move their wealth overseas. its because of globalization and outsourcing that we're screwed.
What point do we have to reach before we start talking population control?
It's already started with ObamLousi care:
500 billion cut from medicare will hit the boomers soon retiring, and free abortion on demand will be paid from the premiums.
actually the countries with growing the fastest growing economies have the biggest populations - we need more people - more people to work - to tax and to pay for all the old people who arent working anymore.
population control is good for the enviorment, but BAD for the economy.
I'm afraid you are right about that, jutpskdiax.