Threat from mounting public job losses tested Obama’s economic strategy

Washington Post ^ | April 29, 2012 | By Zachary A. Goldfarb

[Oldeconomybuyer]

As the economic recovery has struggled to pick up speed, one of the biggest stumbling blocks has been job losses in state and local governments, which have been on the rise for much of President Obama’s term.

Today, as Obama seeks another term, the heavy job losses at the state and local level remain a significant economic concern.

Since the beginning of his term, state and local governments have shed 611,000 employees — including 196,000 educators — according to government statistics. Unlike the recovery in private-sector employment that Obama and his reelection campaign often cite — with businesses adding 4 million jobs since hiring hit its low point in 2010 — the jobs crisis at the state and local level has continued throughout his term.

The state and local job losses are significant for several reasons, economists say. For one, these losses have a broad social impact. Laying off teachers means larger class sizes and fewer after-school programs, for example.

What’s more, federal aid can go directly to state and local governments to prevent job losses, a relatively effective way to sustain economic growth. (Tax cuts, by contrast, can lead indirectly to job growth if they increase the amount of money consumers spend.)

[TribalPrincess2U]

Of course Snopes would say that.
I’ll take my own eyes and ears over Snopes any day.

Rest assured Medicare WILL go up, just as my benefits have gone down.

[Ken H]

Of course Snopes would say that. I’ll take my own eyes and ears over Snopes any day

Is Snopes wrong when it says that premiums are not going to $247/mo in 2014?

Rest assured Medicare WILL go up, just as my benefits have gone down.

That's not the same thing as buying into an email rumor that says premiums will more than double in 2 years.

[TribalPrincess2U]

Yeah? Put this on your calendar and we’ll see in 2 years.