Posted on 11/07/2008 7:54:17 AM PST by Col. Bob
The collapse on Wall Street is now decimating Main Street, Ocean Parkway, Mountain View Drive and I-80. Since January the economy has shed 760,000 jobs. In September alone, monthly mass layoff claims for unemployment insurance jumped by 34 percent. General Electric, General Motors, Chrysler, Yahoo! and Xerox have all announced major layoffs, along with the humbled financial titans Goldman Sachs and Bank of America. Fully one-quarter of all businesses in the United States are planning to cut payroll over the next year. State governments are facing a tax revenue shortfall of roughly $100 billion in the next fiscal year, 15 percent of their overall budgets. Because states have rules requiring balanced budgets, they are staring at major budget cuts and layoffs. The fact that the economy's overall gross domestic product (GDP) shrank between July and September--the first such decline since the September 2001 terrorist attacks--only confirms the realities on the ground facing workers, households, businesses and the public sector.
(Excerpt) Read more at thenation.com ...
Well, if you are Arnold Schwarzeneger, the answer is to massively increase taxes. That should really help the economy. <end of sarcasm, please resume your normal Free Republic day.
Fire Pelosi, Reid and BHO.
Just start calling him BO Plenty.
Apparently the answer is massive government spending coupled with a “green” agenda and increases in food stamp subsidies and unemployment benefits.
I am glad to see that bit about food stamps and unemployment benefits. I suspect a lot of us are going to be needing these over the next 4 years.
Thats a easy question.. DON'T elect a democrat as President...
Ugh.. WHat?... Oh! yeah... NEVERMIND.. Next....
So-called “Green energy” is a chimera as a solution to our economic problems. There’s a reason it is not economic without massive gov’t subsidies. This should clue everyone in as to how much it can help the economy on its own.
The collective writing and editorial team of The Nation wouldn’t know a solution to an economic problem if it slapped them in the face. And I chose the word “collective” carefully.
In the context of an article like this, the pursuit of a “green” agenda is usually presented as a stimulus for an industry with a lot of growth potential. However, it’s important to keep in mind that the real purpose of a “green” agenda is to force a reduction in our standard of living — in a way that makes it seem like we’re actually doing it for a good reason.
Obama will fix it...........
It’s looking more and more like our transit union (Allegheny County, PA) is going to strike December 1st. They just don’t want to give up the sweetness that is a government payday. But they vote Democrat and that’s all that really matters.
Thanks, news we could've used last week.
Implementation of the FairTax would end thhe recession rapidly. I read both books. They have the answers to why business can’t do business and how to reverse that trend. Taxing “big oil” or ‘corporations that move overseas’ won’t do it. The opposite will.
Welcome to "governing", President Zero, you'll be doing it without my help or cooperation. Bring the whole thing down to punish the stupid.
The old black culture was family, traditional values, sticking together through adversity, spirituals and politeness-- like the kids of my co-workers who happens to be black.
The new culture is handouts, thuggery, racism and a copycat of the worst that redneck culture has to offer. How appropriate to use B.O. Plenty for a mascot!
There will come a time (and soon) when these take-it-for-granted parasites will come to a hard realization that we no longer have spare change to be forcibly taken.
Go ahead and confiscate our retirement and 401k’s and watch how fast “hope and change” takes root.
Support conservative leaning businesses
Seems to me that the left’s idea of ending the recession is to turn it into a depression, and then remedy it with green jobs as this century’s version of the WPA.
Heh heh, Just remember I said it first and should get copyrights and such!!
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