Posted on 03/08/2009 7:21:40 AM PDT by tobyhill
The nation's rapid job losses could be piling up too quickly for the government to keep up, the Washington Post reported.
With the unemployment rate jumping to 8.1 percent last month, the government is facing increasing pressure to take action.
But analysts warn that actions taken so far to stabilize the economy haven't been enough.
The stimulus package was designed to "save or create" 3.5 million jobs, but the nation has already passed that with 4.4 million jobs having been lost.
"It's premature to say we need another stimulus, but the economy is performing much worse than when [the law] was signed, and the odds are increasing that we'll need a bigger policy response," Mark Zandi of Moody's Economy.com told the Post. "What we've learned is policy has been a step behind this whole downturn. It's important to get a step ahead."
(Excerpt) Read more at foxnews.com ...
Yeah, struggling to find government positions for all of them. Even the Feds can’t hire quite that fast!
unemployment rate jumping to 8.1 percent last month,make 10.0% they didn’t count the ones that gave up only new listings.
Hey, Obama; here’s a thought! Why not let the people keep their money, eliminate the suicidal “stimulus” plan and the idiocy of the “bailouts,” and let the f***ing market correct itself, which is what capitalism is all about! Oh, but I forgot: You are not a capitalist; you are a marxist.
Everything they’ve done so far has not only failed to help, it prolonged the agony. All they had to do was say we are willing to spend a trillion plus dollars to correct the situation and we plan to do it by giving a tax holiday until the amount not collected is a trillion plus.
They would be back to expanding tax revenues much more quickly that way than the socialistic plans they’ve tried thus far.
Yeah, you have to show an original birth certificate with a raised seal to get federal work, the muslim in chief excepted.
I remember the great old song in the 50’s “Wake the Town and Tell the People.” That's what is needed right now, and until it becomes common knowledge, even among the ObamaBots, that the ‘change’ was not and is not the answer.
If you cull out govey jobs, that by and large have remained uneffective, the private market jobless rate is near 20%.
Not that it matters as Obambi is going to tax the fifty million people that make over a gabillion dollars a year.
Something like that.
Trust ‘The One’.
/sarc
You'd think that would give Obama et al. a slight clue.
“The whole aim of politics,” wrote H.L. Mencken in 1920, “is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary.”
” “The whole aim of politics,” wrote H.L. Mencken in 1920, “is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary.” “
“The forgotten lesson of ‘The Boy Who Cried Wolf’,” wrote Uncle Ike in 2008, “is that there really *was* a wolf.”
Look at U6, now at 16%:
Aggregated totals:
http://data.bls.gov/PDQ/servlet/SurveyOutputServlet
Data selection:
http://www.bls.gov/webapps/legacy/cpsatab12.htm
When you start your administration trying to scare the hell out of everyone, are you surprised no on wants to spend money and no company wants to be caught overextended?
Obie got just what you would expect from his panic mode.
Keep in mind that for every government job created it takes 4 to 8 NEW private sector jobs to pay the taxes to meet the government payroll.
The only correct thing to do in this case is to REDUCE public sector employment.
The “response” has destroyed everyone’s faith that the government will do the right thing, driven markets even lower, dried up investment as people flee to safety and led to more job cuts. On top of that, the government intends to slap massive cap-and-trade taxes on us, hit us with massive marginal tax increases, destroy health care, and once again “reform” education.
Lather, rinse, repeat.
They've only hung on to one "text" book, and its cover is red.
Man, thank God for Obama! Without him there would 7.9 million jobs lost. (3.5 + 4.4 = 7.9)
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