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Thread: Unemployment Rate Rises to 9.2 Percent in June as Hiring Stalls

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    Re: Unemployment Rate Rises to 9.2 Percent in June as Hiring Stalls

    Quote Originally Posted by SouthernDemocrat View Post
    Virtually all of the net job losses in the last several months have been public sector jobs at the state and local levels as state and local governments have reduced payrolls in order to balance their budgets.
    I thought Obama's Stimulus saved all those jobs............

    The private sector has been hiring, albeit at an anemic pace.
    Which is what matters.......the Public sector is 100% dependent upon the Private Sector.......the health of the Host Organism has to become priority.
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    Re: Unemployment Rate Rises to 9.2 Percent in June as Hiring Stalls

    Quote Originally Posted by Objective Voice View Post
    I don't buy that mindset one bit. I don't believe you have to sacrafic what's good about this country just to rein in spending. I believe we can do both. To that, the President is correct. We do need to face facts that we are going to have to raise taxes AND/OR eliminate some of the most expensive tax subsidies/tax loopholes in order to pay down the deficit while also doing certain things to bring about job growth and creation. I'm just as concerned about our national debt as the next guy, but I don't think we can cut spending only in order to get it under control.

    We are a consumer nation. Just about everything we do is done with credit. Yes, that does need to turn around; we need to become a nation of manufactorers again. To that, I think the President has it right. We do need to invest in new technologies, new industries that can create the jobs that stay here in the U.S. But we'll never get there if one side of the political divide is so resistent to raise revenue and insists that the only way to get from Point A to Point B and beyond is essentially to wait until our financial house is perfectly in order before we do anything else.

    I understand that in most American households when one finds himself in debt that that's what should be done - create a realistic budget, live within it, plan for expenditures. I get that and it IS the responsible thing to do. However, we're also told that if you need to generate additional income (revenue) go out and get a 2nd job! For the U.S. Treasury, that "2nd job" is eliminating tax subsidies and a slight tax increase in those areas and/or on those individuals who can afford to pay alittle bit more. It's the only way to have the best of both worlds where our deficit and debt problems are concerned. The alternative is prolonged unemployment which seems to be what the GOP wants.

    Well I can agree with much of what you are saying .. (and will get into trouble with other conservatives for it) I can agree to a modest tax increase.... I was all for letting the Bush tax cuts just expire as they were meant to do ..

    However .. they didn't .. and the problem I have with allowing them to raise taxes is just based on back track records … I said this before .. when you can look back over the last 30 years .. and the best you can find.... is for the Clinton years .. where we “ONLY” increased our debt 1.5 trillion …. now take into consideration … defense spending was cut to bare bones … we had the largest tax hike in history … the dot com era was huge .. and made more millionaires faster then at any time in history, all this .. and we still went 1.5 trillion dollars in debt ..

    I'll be all for modest tax increases when someone in government can seriously show me that they can cut spending and verify it Bush spending policies was terrible, in 2006 (last year of total republican control) our budget was 2.7 trillion with a 400 billion deficit, in 2011 the budget is 3.83 trillion with a deficit of 1.5 trillion. Now he stands up there and says he is going to cut spending by 400 billion a year for 10 years … well whoopie doo .. spending has increased by 1.1 trillion a year since 2006.

    Wake up .. . basically he's saying .. hello .. we want to increase spending over the next 10 years by 700 billion dollars a year.. or a nice tidy 7 trillion dollars over 10 years…and this would be with a spending freeze, and no addition spending on any program over the next 10 years. ...anyone think that is really going to happen ??? What happens in 2014 when the full benefits of our health care bill kicks into gear ?? No increase in spending ??

    When real cuts are made .. and verified as actual cuts and not just transferring money from one program to the other, then come back and ask for tax increases across the board …

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    Re: Unemployment Rate Rises to 9.2 Percent in June as Hiring Stalls

    Quote Originally Posted by PeteEU View Post
    Yes but that is what happens when you have a two party system where one party only knows how to say NO! and refuses to acknowledge their major role in creating the economic crisis in the first place. At least Obama stopped the bleeding of jobs of 500+k a month that Bush left him with... he has been gaining jobs for a long time now and this is despite the obstructionist GOP...

    But then again there must have been a lot of high fives in the GOP when those numbers came out...

    Oh, Good Lord, when does this ever become the Obama economy? You do realize that Bush had a net job gain in his 8 years in office and Obama has been in office 2 1/2 years and there are more unemployed today than when he took office and total unemployment is over 24 million(U-6). Now you can try and defend the Obama record and blame it on Bush but you are part of a declining minority that is doing that. This is the Obama record that will be on the ballot in 2012.

    Obama record, 15.1 million officially unemployed TODAY 2 1/2 years later, 16.2% total unemployment or over 20 million TODAY, 4 trillion added to the debt as of the end of fiscal year 2011, and a rising misery index.

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    Re: Unemployment Rate Rises to 9.2 Percent in June as Hiring Stalls

    Quote Originally Posted by The Barbarian View Post
    Well I can agree with much of what you are saying .. (and will get into trouble with other conservatives for it) I can agree to a modest tax increase.... I was all for letting the Bush tax cuts just expire as they were meant to do ..

    However .. they didn't .. and the problem I have with allowing them to raise taxes is just based on back track records … I said this before .. when you can look back over the last 30 years .. and the best you can find.... is for the Clinton years .. where we “ONLY” increased our debt 1.5 trillion …. now take into consideration … defense spending was cut to bare bones … we had the largest tax hike in history … the dot com era was huge .. and made more millionaires faster then at any time in history, all this .. and we still went 1.5 trillion dollars in debt ..

    I'll be all for modest tax increases when someone in government can seriously show me that they can cut spending and verify it Bush spending policies was terrible, in 2006 (last year of total republican control) our budget was 2.7 trillion with a 400 billion deficit, in 2011 the budget is 3.83 trillion with a deficit of 1.5 trillion. Now he stands up there and says he is going to cut spending by 400 billion a year for 10 years … well whoopie doo .. spending has increased by 1.1 trillion a year since 2006.

    Wake up .. . basically he's saying .. hello .. we want to increase spending over the next 10 years by 700 billion dollars a year.. or a nice tidy 7 trillion dollars over 10 years…and this would be with a spending freeze, and no addition spending on any program over the next 10 years. ...anyone think that is really going to happen ??? What happens in 2014 when the full benefits of our health care bill kicks into gear ?? No increase in spending ??

    When real cuts are made .. and verified as actual cuts and not just transferring money from one program to the other, then come back and ask for tax increases across the board …
    Here is the tax revenue increase that I would support

    Put 24 million unemployed Americans back to work in the private sector paying taxes. Collect some tax revenue from the 56 million income earning Americans that are paying zero in Federal Income Taxes. That is 80 million new taxpayers vs. the 1.4 million that the liberals want to tax more(the rich)

    U-6 Unemployment=153 million civilian labor force X 16.2%
    Income earners not paying any Federal Income Taxes=47% X 140 million jobs currently in this country

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    Re: Unemployment Rate Rises to 9.2 Percent in June as Hiring Stalls

    Quote Originally Posted by SouthernDemocrat View Post
    Anymore, its as if both the hard core conservative Republicans / Tea Partiers and the hardcore liberal Dems are just all living in some alternate universe or something. Both sides totally divorced from reality.

    First off, the fact is, this is not the Bush Recession or the Obama Recession, it is the Bush / Obama recession. To hear the Republicans talk, the economy was doing just fine until January, 2009 when Obama took office.

    This is a graph of private sector job losses, the bars in Red represent job losses during the Bush Administration, the bars in Blue represent job losses during the Obama Administration:

    I seem to recall that graphic from somewhere...?
    “I think if Thomas Jefferson were looking down, the author of the Bill of Rights, on what’s being proposed here, he’d agree with it. He would agree that the First Amendment cannot be absolute.” - Chuck Schumer (D). Yet, Madison and Mason wrote the Bill of Rights, according to Sheila Jackson Lee, 400 years ago. Yup, it's a fact.


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    Re: Unemployment Rate Rises to 9.2 Percent in June as Hiring Stalls

    Quote Originally Posted by Ockham View Post
    I seem to recall that graphic from somewhere...?
    Wonder why no liberal can explain why BLS doesn't show that information and instead shows a net job loss with more unemployment 2 1/2 after taking office, 2 years after the end of a recession than it was when he took office? Interesting that liberals ignore actual numbers and still spin the Obama rhetoric.

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    Re: Unemployment Rate Rises to 9.2 Percent in June as Hiring Stalls

    the historically slow recovery, usa today, may 20:

    Nearly two years after the economic recovery officially began, job creation continues to stagger at the slowest post-recession rate since the Great Depression.

    The nation has 5% fewer jobs today — a loss of 7 million — than it did when the recession began in December 2007. That is by far the worst performance of job generation following any of the dozen recessions since the 1930s.

    In the past, the economy recovered lost jobs 13 months on average after a recession. If this were a typical recovery, nearly 10 million more people would be working today than when the recession officially ended in June 2009.
    Job creation limps along after recession - USATODAY.com
    Last edited by The Prof; 07-08-11 at 07:09 PM.

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    Re: Unemployment Rate Rises to 9.2 Percent in June as Hiring Stalls

    Quote Originally Posted by Ockham View Post
    I seem to recall that graphic from somewhere...?
    I saw it on washingtonmonthly.com
    "You're the only person that decides how far you'll go and what you're capable of." - Ben Saunders (Explorer and Endurance Athlete)

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    Re: Unemployment Rate Rises to 9.2 Percent in June as Hiring Stalls

    wsj's take on our historically slow recovery, this week:

    Two years ago, officials said, the worst recession since the Great Depression ended. The stumbling recovery has also proven to be the worst since the economic disaster of the 1930s.

    Across a wide range of measures—employment growth, unemployment levels, bank lending, economic output, income growth, home prices and household expectations for financial well-being—the economy's improvement since the recession's end in June 2009 has been the worst, or one of the worst, since the government started tracking these trends after World War II.
    Debt Overhang Slows U.S. Economic Recovery - WSJ.com

    reuters presents the data graphically, tuesday: The US Jobs Gap | Reuters.com

    spin, playas?

    who's the hack?
    Last edited by The Prof; 07-08-11 at 07:10 PM.

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    Re: Unemployment Rate Rises to 9.2 Percent in June as Hiring Stalls

    Quote Originally Posted by SouthernDemocrat View Post
    The reason for that is the huge amount of personal debt many Americans have. When your house is worth less than you owe on it, and you have a mountain of student loan and other debts, your not so apt to go out and buy that second flat screen or the new car. Thus, businesses are not so apt to hire more people when they are not sure they will be selling more sh*t. I mean come on, this is not rocket science. In many ways the best thing that could happen to the economy right now would be to have higher inflation as that would deflate those debts. Which by the way is why the federal reserve was so concerned about deflation. Had we entered into a deflationary spiral, those overbearing debts would have only become that much more overbearing.
    The Federal Reserve is charged with the resonsibility to both monitor, prevent, and repair that. We keep hammering on presidents and business owners and corporate jets. I don't get it either.

    - As you point out, households were in debt during the expansion, which means when the recession arrived, they had no store of savings to keep the fires burning.
    - Most financial institutions by their very nature, are always in massive debt.
    - And the cherry on top, we allowed the national debt to climb.

    So we finally get another, inevitable, routine recession in the economy, and:
    - public is in debt
    - finance always in debt
    - government in debt

    Oops! Our pockets are empty. I think you're right, what else can you do but ride it out given this? More debt I suppose...

    Are we correct in giving this responsibility primarily to the fed?

    Federal Reserve System - Wikipedia, the free encyclopedia
    Its duties today, according to official Federal Reserve documentation, are to conduct the nation's monetary policy, supervise and regulate banking institutions, maintain the stability of the financial system and provide financial services to depository institutions, the U.S. government, and foreign official institutions.[7]
    Last edited by Mach; 07-08-11 at 07:10 PM.

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