Unemployment at 26 Year High

[guido911]

Sure glad we passed that stimulus bill. Who knows how many jobs have been "saved or created".

http://www.foxnews.com/politics/2009/07/02/nations-unemployment-rate-edging-closer-double-digits/

[TheArtist]

No suprises here, things continuing along as most economists projected at the end of last year that the economy would continue to decline well into this year and possibly start to rebound later this year or beginning of 2010 with unemployment numbers being the "lagging indicator" and expected to increase for even longer. Its probably still too early for the stimulus package to have had much of an effect, or even be able to tell whether or what effect it will have on those predictions or the resutling outcome. We will have to wait a few more years, at least, in order to tease out those kinds of numbers. 

[guido911]

No suprises here, things continuing along as most economists projected at the end of last year that the economy would continue to decline well into this year and possibly start to rebound later this year or beginning of 2010 with unemployment numbers being the "lagging indicator" and expected to increase for even longer. Its probably still too early for the stimulus package to have had much of an effect, or even be able to tell whether or what effect it will have on those predictions or the resutling outcome. We will have to wait a few more years, at least, in order to tease out those kinds of numbers. 

We were assured by the President, who I can only assume listened to economists, that if stimulus passed, unemployment would not exceed 8%. Here we are at 9.5% AFTER stimulus. Nearly a TRILLION dollars pi$$ed away for pet projects is what we got. The bottom line is either Obama is an inexperienced dolt or a liar. Or both.

The only upside is the hope that most of those 9.5% are Obama supporters.   

[Conan71]

On CNBC this morning, they were giving an analysis of the jobs picture.  52,000 have shrunk from gov't payrolls.  I'm not clear if that was federal only or counts muni and state payrolls.  The only area of gain is 34,000 in education.

[waterboy]

Let's see. 26 years ago. Oh, yeah, 1983...Reaganomics in full bloom. I suppose you were too young to rail about him being an inexperienced dolt, a liar and a profligate spender. Not too late though.

There is no optimism and fairness in your posts. No break from the Obama Derangement Syndrome. Do you just want this man to fail so badly that you're willing to consider total collapse of our economy and perhaps our system, just to satisfy that hate. Is that it? That might hurt your asset base and put you back with us bottom feeders.

[guido911]

Let's see. 26 years ago. Oh, yeah, 1983...Reaganomics in full bloom. I suppose you were too young to rail about him being an inexperienced dolt, a liar and a profligate spender. Not too late though.

There is no optimism and fairness in your posts. No break from the Obama Derangement Syndrome. Do you just want this man to fail so badly that you're willing to consider total collapse of our economy and perhaps our system, just to satisfy that hate. Is that it? That might hurt your asset base and put you back with us bottom feeders.

Fairness? Screw fairness. Our country is out a TRILLION FREAKIN DOLLARS. I don't recall Reagan spending like that in his first five months in office amid assurances the country that job losses would not exceed a certain percentage. You may excuse Obama's abject idiocy or lie about stimulus, I won't.

As for ODS, if you think pointing out the numerous broken campaign promises, criticizing his adoption of several Bush policies re: terrorism after he campaigned against them, his bullcrap double standard about meddling in foreign affairs, then I am guilty as charged.

[FOTD]

Gwee doe,

Same old nonsense from you. Pathetic how you try to make your rigid ideology out to be some kind of Saviour.

[Chicken Little]

The bill was signed into law just a little over four months ago; it's not surprising, therefore, that stimulus projects are just now coming online.  Perhaps if Bush had gotten on the stick a few months sooner...

Here's a cool, related, link.  Tulsa World is apparently tagging stimulus articles and keeping them on a special page:

http://www.tulsaworld.com/news/category.aspx?l=stimulus_tracker

A ton of these articles are dated May and June.  I'm taking a wild guess here, but it seems like it might take more than 30 seconds to get this money from the federal gov't to states, then to agencies, then to employees, and finally out into the economy.

That said, I'm impressed by things that the articles listed:  IDL rehab; new cops; health clinics; child nutrition; converting our school and city buses to CNG; "Brady Village Green Sustainability Project"; pediatric brain injury research, prevention, education; defense; and development in North Tulsa.  That's not even all of it.  A lot of stuff will be happening here in Tulsa and around the country.  And a lot of these ideas seem like sound investments in our future, things that will spark new technologies and new growth.

Cry all you want, Guido; somewhere there's a whole teency violin orchestra getting tuned up for a performance in your honor.  I'm not worried that the stimulus will have an economic impact, I'm just worried if it will be enough to correct the Bush recession.  I doubt it.

[Chicken Little]

I don't recall Reagan spending like that...

You don't have to "recall", you just need to use your eyes...and brain:

[FOTD]

Wear this, Gwee.

[guido911]

Boehner is fed up with the "we inherited this" meme and smashes Steny Hoyer.

[nathanm]

Boehner is fed up with the "we inherited this" meme and smashes Steny Hoyer.

Boner sounds like the man that beats up his wife and then says "Hey grumble, look what you made me do!"

[Chicken Little]

Boehner is fed up with the "we inherited this" meme and smashes Steny Hoyer.

Right.  This is the same boehner that approved $3.8 trillion in bushspend and now we're supposed to believe he's a conservative?  How gullible can you be?  And "the dog ate my homework" is a "smackdown"?  Maybe in Candyland.  Boehner should stick to what he knows about, i.e., tanning booths, Foley's creepiness, and...uhh...that's about it.

[USRufnex]

We were assured by the President, who I can only assume listened to economists, that if stimulus passed, unemployment would not exceed 8%. Here we are at 9.5% AFTER stimulus. Nearly a TRILLION dollars pi$$ed away for pet projects is what we got. The bottom line is either Obama is an inexperienced dolt or a liar. Or both.

The only upside is the hope that most of those 9.5% are Obama supporters.   

"Dolt?"  "Liar?"  All just a little bit of history repeating.....

You sound EXACTLY like the liberals sounded in the early 80s..... they were rooting for Reagan to FAIL.

In this same spirit of nutjob liberals in the 80s against the Reaganites; and nutjob conservatives these days against Obama supporters....

"I hope you lose all your money.... I hope you die penniless.... I hope you get a nasty disease and have to declare bankruptcy to pay off the medical bills....."

"Now, go die in a fire."  
http://www.urbandictionary.com/define.php?term=die+in+a+fire

The 1982 Recession
http://www.pbs.org/wgbh/amex/reagan/peopleevents/pande06.html

When, in August 1981, Reagan signed his Recovery Act into law at Rancho del Cielo, his Santa Barbara ranch, he promised to find additional cuts to balance the budget, which had a projected deficit of $80 billion -- the largest, to that date, in U.S. history. That fall, the economy took a turn for the worse. To fight inflation, running at a rate of 14 percent per year, the Federal Reserve Board had increased interest rates. Recession was the inevitable result. Blue-collar workers who had largely supported Reagan were hard hit, as many lost their jobs.

The United States was experiencing its worst recession since the Depression, with conditions frighteningly reminiscent of those 50 years earlier. By November 1982, unemployment reached, nine million, the highest rate since the Depression; 17,000 businesses failed, the second highest number since 1933; farmers lost their land; and many sick, elderly, and poor became homeless.

The country lived through the recession for a full year before Reagan finally admitted publicly that the economy was in trouble.  His budget cuts, which hurt the poor, and his tax cuts, which favored the rich, combined with the hardships of a recession, spawned the belief that Reagan was insensitive to his people's needs. (Although it was a 25% across-the-board tax cut, those people in the higher income brackets benefited the most.)

As economic hardship hit American homes, Reagan's approval rating hit rock bottom. In January 1983, it was estimated at a dismal 35 percent.

----------------------------------------------------------------------------------

December 1980: National unemployment rate:  7.2%

Ronald Reagan sworn into office:  January 1981.
Reagan's Economic Tax Recovery Act proposed:  February 1981
Reagan assassination attempt:  March 30, 1981
Reagan signed his Recovery Act into law:  August 1981
Nine months later, May 1982:  National unemployment rate:  9.4% 

November 1982:  National unemployment rate:  10.8%
--double digit unemployment ten straight months from September 1982 to June 1983

November 1984:  National unemployment rate:   7.2%

-------------------------------------------------------------------

December 2008:  National unemployment rate:  7.2%

Barack Obama sworn into office:  January 2009.
Obama's Economic Stimulus Package passed:  January 28, 2009
Six months later, July 2009:  National unemployment rate: 9.5%

November 2010:  National unemployment rate:  ?
November 2012:  National unemployment rate:  ?

---------------------------------------------------------------------------------

Although there were a few good things going on for a certain 18 yr. old soccerpunk back in 1983........

1983 NASL pregame Tulsa Roughnecks vs Team America
http://www.youtube.com/watch?v=iNGFueAJEfA&feature=PlayList&p=91A12818258ADA76&playnext=1&playnext_from=PL&index=39

Soccer Bowl 1983 Tulsa vs. Toronto
http://www.youtube.com/watch?v=QubCSWZanEQ

Soccer Bowl 1983 Tulsa vs. Toronto
http://www.youtube.com/watch?v=odRPM5e9Qjc

[guido911]

OSS in full apology mode in here. Obama assured us employment would not exceed 8% if stimulus passed, did he? Yes or No. This lie was the driving force behind this thing Trillion dollar, which has failed by any objective standard, passing. Hell, even Biden is saying they got it wrong. But noooo, Chicken Little and other TN Obama spooners are taking the "hey, look over here" or burying the head in the sand positions because their hero can't be wrong.

Boehner is right, where are the jobs that were promised?  The response? Hey, what about Reagan. Obama's administration backing off his pledge not to raise taxes on those making $250K? Hey, what about Bush. That's right, it's Bush's fault that the stimulus went through (only three rino repubs in the Senate voted for it); it's Bush's fault that the govt took over GM & Chrysler, it's Bush's fault that the Omnibus bill passed, it's Bush's fault that smokers got a nice tax increase, it's Bush's fault that cap and trade has made it through the house...

I will be 100% honest here, I am laughing my a$$ off over the unemployment rate increasing, especially those college grads or union workers that voted for Obama and are now back living with their parents working at Wendy's. Hey, "Do you want fries with that?" or "please pull forward to the first window" is probably not what they envisioned they would be saying by voting for the hip president. In the immortal words from Nelson: