http://www.washingtonpost.com/wp-dyn/content/article/2011/02/28/AR2011022802634.html
Dems spent a massive 814 billion and creates 800,000 jobs last year.
Reps cut a "massive" 61 billion and will destroy 700,000 jobs by end of next year.
:huh:
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padre31 likes this.
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Careful there Neo, take that pill and there is no going back for you..:lol:
The plain fact is this, 700k jobs sounds like a lot, the economy has been bleeding well over 200k jobs a month for most of the last 3 yrs.
Does seem like there was a small uptick of maybe 45k a while back.
We have a huge jobs deficit, as in massive all of these months of more net job losses stack up, it is sure to be in the millions of jobs that have just disappeared and will take quite some time until those are replaced, the really sunny picture is even if they are recreated by say 2015, we will be at "Neutral", there are new workers coming into the labor force during that time.
Basically a semi permanent pool of workers who have little hope of finding one.Eshlemon likes this. -
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WH and Pelosi stated in January based on December 2010 employment that showed a 1.3 million jobs gained. Which seemed reasonable middle between the extremes put out at the time. But the December employment was marked downward by the Department of Labour by half a million in February revisions, thus the 800,000. The unemployment rate for the month was not affected though as the workforce was revised downards by a half a million too.
The workforce also decreased another half a million in January and is at Jan 2007 level now. Heck, if we keep this up we are are looking at 5% unemployment next January. -
See, just adjust downwards, who is going to contradict them?
Govt inflation stats are even worse.Eshlemon likes this. -
Yes, our official labour force is the same as in January 2007. Not only is there unemployment, the amount of those no longer looking for work is huge.
Also, and I do not really know if this is a correlation, the last time we had a half a million drop Jan-Dec drop in the workforce was 2008-2009 after all the huge prices and wage increases and loan calamity in 2008. We now have this heading into a year already having the price increases. If another shoe drops, this is going to be realy rough year, hopefully not a "great recession" 2.0. -
What is tended to be looked over is the "Great Depression" did not happen overnight, it took 4 yrs to really spread throughout the economy, mostly due to State intervention into the economy, both positive intervention, and negative intervention, a contracting money supply met up with a contracting value of leveraged property.
We have a very similar situation today, there are a massive amount of homes around the US that are leveraged more heavily than they are worth, the effect of that will not hit in some catyclismic event, it is a long slow surrender to the realities of the market.
What is potentially worse, the "stimulus" packages did not spread out to Main St, they propped up Wall St, which is not a good indicator of the strength of the economy, they probably did restore value to destroyed Retirement Accts but I'd propose it would have been worth it to cash out while the market was high as sooner or later that balloon will come back down to reality.Eshlemon likes this. -
Guess main street just isn't big enough to be in the to big to fail club.
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Gained, or saved?
The CBO has said the stimulus saved/gained a total of 3.6 million jobs. -
The CBO estimate was anywhere from 1.4 to 3.6 million jobs. With vast differences in amounts and economic theoretical models and politics, I just look at what actual happened factualy with regarding the actual employment anymore.
And even if you go with the Zandians high end +$814 billion = +3.6 million jobs theory, what in Zandi-land theoretrical equations other than one policy was democrat and the other republican makes -$61 billion = -700,000 jobs next January. And even the $61 billion is overstated as only $19 billion goes into effect this year.padre31 likes this. -
Beltway math. Reality is whatever a politician declares it to be.
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Sort of, Main St is paying in the form of inflation via monetization to finance the "TBTF" businesses and in the form of National Debt to also finance "TBTF"'s, essentially Peoria is paying for all of this, they just do not know it.
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Well, that should have been obvious by the mid 90's Des, when Clinton clearly comitted perjury, but the politicians refused to do anything about it, or GWB's Iraq War information.
America is sprinting to the point where Truth no longer matters, and what is worse, no one wishes to hear, see, talk about Truth.
A good example is the nonsense in Wisconsin, these are supposedly "teachers" with at least BA's, and yet the ramifications of simple math, or even basic addition or subtraction does not matter, in fact it should be suspended because it is inconvenient to Agendas.
WI is 3.3 Billion in the red, and yet..for those who do not wish to have paycut, it is as if WI is not in the Red, it is all an illusion... -
I don’t see any parallel between this, what happened with Clinton, and what happened under Bush.
There might be a parallel between this and the 1995 budget showdown, in terms of the extent of disinformation being distributed. But even that is sort of flimsy. -
Well hell, if I was in charge, I would have just given those workers the $1,017,500 each. Then tax the hell out of those now evil nouveau riche bastards.