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Thread: US unemployment hits 25-year high

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    US unemployment hits 25-year high

    US unemployment has risen to 8.1 per cent, the highest level since 1983, according to a US government report.

    The US labour department report said on Friday that 651,000 jobs were lost from the struggling US economy in February.

    Al Jazeera's John Terrett in New York said the figures were worse than many analysts had been expecting.

    The monthly report on the labour market is seen as one of the best indicators of the state of the US economy.

    Al Jazeera

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    Re: US unemployment hits 25-year high

    Im going to call it: It will peak at 13.5% by spring 2010.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: US unemployment hits 25-year high

    Quote Originally Posted by Khayembii Communique View Post
    US unemployment has risen to 8.1 per cent, the highest level since 1983, according to a US government report.

    The US labour department report said on Friday that 651,000 jobs were lost from the struggling US economy in February.

    Al Jazeera's John Terrett in New York said the figures were worse than many analysts had been expecting.

    The monthly report on the labour market is seen as one of the best indicators of the state of the US economy.

    Al Jazeera
    Obama... how about more taxes, more spending, more nationalization?

    Tax us into prosperity... That'll stimulate the economy, not that there is any precedent for it.

    But because you are Obama and you defy gravity.

    Yes you can... tax and spend, spend and tax...

    And then blame Republicans.
    The Clintons are what happens...
    when you have NO MORAL COMPASS.

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    Re: US unemployment hits 25-year high

    Quote Originally Posted by zimmer View Post
    Obama... how about more taxes, more spending, more nationalization?

    Tax us into prosperity... That'll stimulate the economy, not that there is any precedent for it.

    But because you are Obama and you defy gravity.

    Yes you can... tax and spend, spend and tax...

    And then blame Republicans.
    Sure theres a precedent. Its called ww2.

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    Re: US unemployment hits 25-year high

    Raise Taxes, slash the military..
    Let evil swiftly befall those who have wrongly condemned us

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    Re: US unemployment hits 25-year high

    Quote Originally Posted by Red_Dave View Post
    Sure theres a precedent. Its called ww2.
    Bad example...
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: US unemployment hits 25-year high

    Obama could help the situation by encouraging those who are nearing retirement to do so early, IF they can afford it. That makes more jobs available to the younger generation.
    Removing the 10% penalty for early IRA withdrawals, or reducing the age to 55 might do the trick....even if the withdrawal is done without retiring, it might serve as an added stimulus to the economy.
    If their savings is in the stock market, not a good idea, but most in that age bracket should be in interest bearing accounts by now..
    Last edited by UtahBill; 03-06-09 at 10:47 AM.
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    Re: US unemployment hits 25-year high

    Quote Originally Posted by UtahBill View Post
    Obama could help the situation by encouraging those who are nearing retirement to do so early, IF they can afford it. That makes more jobs available to the younger generation.
    Removing the 10% penalty for early IRA withdrawals, or reducing the age to 55 might do the trick....even if the withdrawal is done without retiring, it might serve as an added stimulus to the economy.
    If their savings is in the stock market, not a good idea, but most in that age bracket should be in interest bearing accounts by now..




    "your stocks are in the toilet, you should retire early"
    Let evil swiftly befall those who have wrongly condemned us

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    Re: US unemployment hits 25-year high

    Quote Originally Posted by Khayembii Communique View Post
    US unemployment has risen to 8.1 per cent, the highest level since 1983, according to a US government report.

    The US labour department report said on Friday that 651,000 jobs were lost from the struggling US economy in February.

    Al Jazeera's John Terrett in New York said the figures were worse than many analysts had been expecting.

    The monthly report on the labour market is seen as one of the best indicators of the state of the US economy.

    Al Jazeera

    Of course the market is bad and job growth is slow. Credit is frozen due to the mortgage crisis and Middle Class Americans do not have the disposable income they once had. So we are faced with some choices. Either raise taxes on the wealthy to alleviate taxes on the Middle Class, or continue down the path that the last administration put the country on, which was itself ineffective. Do I think Obama's plan is perfect? No, but it at least is an attempt to place more capital into the hands of those who spend the most, the Middle Class.

    Some may call for tax cuts for all, and that does seem fair, but I do think it would be unwise to allow some of these major banks to fail. In the long run, the wealthy will see their money come back to them from the increased taxes as consumers once again consume and the market increases again.

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    Re: US unemployment hits 25-year high

    Quote Originally Posted by Reverend_Hellh0und View Post
    "your stocks are in the toilet, you should retire early"
    read much? I will repeat it, please read the highlighted part, slowly...
    Originally Posted by UtahBill
    Obama could help the situation by encouraging those who are nearing retirement to do so early, IF they can afford it. That makes more jobs available to the younger generation.
    Removing the 10% penalty for early IRA withdrawals, or reducing the age to 55 might do the trick....even if the withdrawal is done without retiring, it might serve as an added stimulus to the economy.
    If their savings is in the stock market, not a good idea, but most in that age bracket should be in interest bearing accounts by now..
    Oracle of Utah
    Truth rings hollow in empty heads.

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