[speedy]

The New York Times responds to the spate of good economic news that is their nightmare. Of course, it would have been impossible to find unemployed people during the Clinton presidency, I am quite sure. Wonder how Howell Raines is getting by in unemployment -- think he can afford an occasional outing to Wendy's? I also wonder how people who were making $250K a year only had 40K set aside, and how they could wind up in a situation where their combined income is now 20K. This one doesn't pass the smell test. I didn't check the byline -- was this a Jayson Blair entry? I hate the New York Times.

[rb22982]

I also wonder how people who were making $250K a year only had 40K set aside, and how they could wind up in a situation where their combined income is now 20K

No kidding. Shoot most grocery stores don't start full time people at less than 7.50 an hour, which full time for a year for 2 people would be 30k a year.

[cyborg]

Living above your means can put a dent in the savings plan.

[Desert88]

Maybe the individuals featured in the stories are not real people, but composites instead. Using composites is standard procedure at the Times, isn't it?

[q_an_a]

the source of this is not only the times but the doom and gloom crowd of the free republic. 922 BILLON in construction starts this month and everyone is crying because there are no jobs left in America. Who is getting the building work? Who will be doing maintenance on all the new homes?

Who will take care of the retired boomer's? Boomers who are changing careers and foreign workers who don't think service is such a bad job.

Factories have been adding people and shoppers spent 12 billion dollars the first week of the Christmas season. Life is coming to an end. / sarcasm off

[ninenot]

FWIW, the under-employment/compensation squeezes started during the Clinton years. You may remember "bracket creep," which was a compensation problem: newly-degreed engineers or BusAd grads were brought into firms and the managers of said newbies were paid only marginally more than the newbies. THAT was due to the 'shortage' of college grads...but it was the first symptom of a larger problem: overhead money was getting tight.

After about 10-12 years, the 'bracket creep' problem de-materialized, partly because middle management positions were cut, and partly because more college grads emerged. But as the 'college grad' problem went away, the underlying cause of 'bracket creep--decreasing margins/overhead costs--continued.

Now overhead cost is cut by moving operations overseas. No taxes, no enviro-regs, no OSHA, no FedLaborLaws, no EEO, and no labor costs.

This is NOT just a "labor-cost" issue, and anybody who thinks it is is blind. It's a cost-of-doing-business issue, and it's comprehensive.

[ETERNAL WARMING]

Good news? It's still a JOBLESS RECOVERY.

[Paul Ross]

An interesting question which didn't get asked would be what this couple's politics were. Most likely smug liberals who religiously voted RAT and sent big fat campaign contributions to Kennedy...who could care LESS about American jobs. He gets all his biggest contributions from the CEOs who are out-sourcing. What a filthy pig. Same with McCain, and all the RINOs of course.