Stuart Varney on FoxNews just said that a second recession is looming, due to recent trend of numbers.
Stimulus money is not being used in the private sector, thus not causing job creation. Private business are still apprehensive of potential future regulations that would strangle them, so they are holding off adding new jobs.
Rate goes from 9.7% up to 9.9%.
[Team Obama will make sure the numbers are juggled so as not to rise to 10% or above.]
If they were to drop the current ‘temporary’ census workers now that would in effect add another 0.4%.
In my city, the little money that has gone into road repair is now being negated by the unionized construction workers going on strike last night. They say they aren't looking for raises, but want their health care paid for.
I live in bizzaro world. Unemployment in construction is over 20% and these goons are going on strike. Seeing as it's govt contracts they will probably get everything they want. In the meantime my business revenues are down, costs are up and I'm not using the contractors I normally use.
He's sort of assuming we never left the first recession.
I heard Stuart yesterday subbing for Cavuto and he was arguing with this guy about the recovery isn’t really happening and the guy (who had an opposite viewpoint) was arguing for another stimulus. Stuart said that the other stimulus package didn’t work, why does he think another one would. And the other guy said what we need is a smarter Stimulus package and Varney asked, well does that mean that the other stimulus packages were dumber?
” [Team Obama will make sure the numbers are juggled so as not to rise to 10% or above.]”
And the MSM will not point out that the stimulus was needed to prevent 8%
21% variance..... In most businesses an ultimate reality check that things did not work.
In Washington a chance to change the focus............