“In the 1990-91 recession, men lost 1.037 million jobs. They have lost 4.5 million to date in this one. ‘This time around it is amazingly different in terms of the magnitude,’ Sum said.”
Let me be the first to say, “0bama’s Fault!”
Truly, that’s SOME number to wrap your brain around! We’re remaining relatively untouched here in southern Wisconsin, but the ripples are starting to be felt due to the Auto Industry problems; local dealerships are closing, and that effects everyone down the food/retail chain. We’ve lost a dairy, which is tragic, and the main problem is that business isn’t moving here IN THE FIRST PLACE because of our tax-happy Democrat-run Governorship, House and Assembly.
So far, the fact that we have a LOT of government, a big state-run university and lots of hospitals has helped greatly; they’re pretty recession-proof.
But, I have no doubt that it’s coming. We’ve been doing pretty well so far, and only have one family member laid off right now; but he’s a liberal, tree-hugging, barely employable bum to begin with, LOL!
We were told a couple of weeks ago that some folks on State Department of Education pensions (not teachers, but ancillary educational workers) had their pensions cut. They are flaming libs and were *shocked* at the *investments* of their plan. They were in the *core* (conservative) program. They were warned back in February and had 2% cut in March. This was an additional cut effective, IIRC, as of June. It wasn’t a huge amount, but the writing is one the wall. Unfortunately, this affects many of my husband’s clients, but we haven’t had any effect from it, yet. He does have a regular client who lost 40% due to being invested in the *variable* pension plan option, but she returned after about a month.
I am unsure if this also affects teachers.