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Unemployment claims up.. AGAIN

Posted: Jul 21, 2011

http://www.burlingtonfreepress.com/article/20110721/BUSINESS04/110721020/Unemployment-claims-up-again?odyssey=nav%7Chead

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Bad times. I used to know no one who was unemployed, but - currently have 3 friends/family...sad.nm

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nm

Republicans holding debt limit hostage=companies not hiring - NM-Rocket Scientist

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Oh please... lol.. The truth is..Obama stimulus was - TOTAL BUST, just more DEBT and no jobs!!.nm

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nm

Let's stop pretending this is a one sided coin, shall we? - Afer all, we're all adults here

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The stimulus money was intended to go in one door and out the other, not vanish into thin air once it reached the CEOs inbox. Record profits, mind-boggling bonuses, rebounding stock market, stateside shutdowns and lay offs, outsourcing like there is no tomorrow and unabated overseas investment behind lucrative fair/free trade agreements...any of this ring a bell? Please nix the coy routine AS IF none of us have stood up and taken notice.

GM bailout money came with strings attached. They bit the bullet, played ball and got with the program by streamlining their plants, revamping their product line and focused on future fuel economy while union (yes, I said union) workers initially took nearly a 50% pay cut. GM posted a $4.7 billion profit in 2010 (as opposed to the $80 billion they lost in the 5 years before the bailout), has paid back around 50% of the $50 billion bailout money within the first year and is nipping at the heels of the number 1 automaker in the world, despite recessionary low auto sales volumes. In the meantime, new pay structures are being negotiated that will tie into job performance and company profitability.

This may be bad news for those who get off on rooting for failure, but for the rest of us, it's pretty impressive, considering where they have been and how far they have come. Oh please, yourself.

http://www.newsobserver.com/2011/02/25/1012533/gm-rebounds-with-big-profit.html

Businesses are waiting to hire, afraid of Obamas tax - increases, just admit it. nm

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nm

Bah-loney. Like most educated folks they understand gravity of default - and its dire consequences.nm

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nm

Well, go educate yourself to understand that in order - to cut debt, we MUST cut spending!!!

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Common sense is lost on so many, including our incompetent president.

Think outside of your box--Increase revenue - nm

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Never said otherwise. - Let's start with military, then discretionary

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spending which adds up to $1,349,000,000,000, comparable to $1,494,000,000,000 in Medicare, Medicaid and SS. Entitlements should be subjected to means standards and perhaps raising Medicare eligibility age by one year only, AFTER HCR is fully operational, keeping in mind that those seniors with no insurance and ongoing medical conditions would end up in county and state healthcare systems, thus shifting cost burdens from federal to state and county tax payers. Any future borrowing against SS should be prohibited. I do NOT think they should raise the eligiblity age groups brackets unless the tax code is revised and Bush tax cuts expire. It is funded until 2035

Delaying expiration of Bush tax cuts until 2013 deprives the economic recovery in the short term and debt service in the long term of approximately $1,800,000,000,000. This does not make sense to me, considering that nothing that they do is going to make much difference in the absence of an effective and aggressive comprehensive jobs program. Revenues from tax cut expiration would go a long, long way toward that end.

Stealing from the rich does not create jobs. It only - makes them hire less employees.

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Common sense is lacking in the USA nowadays. Cutting the military is nonsense. The country, under the permission and leadership of King Obama, is becoming Robin Hood. So sad.

Yeah. Let's go back to the 1/2 million monthly jobs hemorrhage - after 7 years of Ws corporate taxstravaganza.

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You mean that kind of common sense? Thank God its lacking nowdays. Cutting the military is WAY overdue. So is kinder, gentler.

While we are at it, why don't we just give the USA to - China.. oh yeah!.. GET REAL !.nm

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nm

The debt ceiling is Republican Econ Armageddon - Why hire? NM

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Forgot 1.45 million jobs saved June 2009 to Nov 2010 plus - 115,000 new jobs created

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June 2009 to June 2011.

Yes, it's a blog with (count 'em) 6 links to source documents

http://blogs.wsj.com/deals/2010/11/17/gm-ipo-auto-bailout-saved-more-than-1-million-jobs-study-says/

http://www.globalautomakers.org/media/industry-news/2011/06/a-reality-check-on-the-auto-bailout

I live in Ohio, unemployment shot up again today. More - businesses continue to close. Its sad.

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You can spin the numbers all you want. The job situation is worse, not better! Wake up!

Ummm, I hear you have a gov problem in Ohio, which - actually added 10,600 jobs in June...

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9,000 jobs were lost. Guess where the majority of those jobs were? The ODJFS says 7,300 jobs were lost from state government agencies. Three guesses where Kasich's deepest cuts were back in March. Cuts to counties, municipalities and townships for the first year were $167.1 million with an additional $5 million cut for Columbus. At the end of the second budget year, cuts to govt will reach a full 50%! Contrary to popular GOP beliefs, spending cuts can deal fairly deadly blows to jobs and those who (used to) hold them.

I also hear there is quite an uproar over SB5 with referendum efforts moving full steam ahead, creating a rather, shall we say, volatile business environment, to say the least. But then, you probably knew that already.

No spin needed on these facts of life for Ohioans moaning and groaning under Gov Ks fiscal interventions.

http://www.dispatch.com/live/content/local_news/stories/2011/03/15/kasich-releases-budget.html

No Gov. problem. Kasich is a great governor. He - is actually trying to balance a budget.

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Cant say that for the past governor or even our current president.

Well then, why lament rise in unemployment, shuttered businesses - under his brilliant leadership?

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Must be a real comfort to know the gov hustles for ALEC/Koch Bros murky legislation factory. So much for representating voters who actually live in Ohio. Why not eliminate the 33 senators and 99 reps, download the laws directly from their website and just have Gov K sign them directly into law? The state could save a bundle!

OMG- YOU ARE TRULY SICK - KASICH IS HORRIBLE AND EVERYONE BUT YOU KNOWS IT - LAUGHING MY HINEY OFF

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He has totally ruined Ohio's education, business, government, and everything he has touched since he has taken office. What a JOKE.

Nobody is held hostage... its call debating.. gee. - Debt ceiling is a joke anyway. We are going

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bankrupt either way. This just makes it okay on paper for us to keep borrowing. Obama needs to go.

Compared to - some of the other

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posts the last couple of days on this subject, this one is too ill informed to merit a response, other than to suggest you might try reading up on the subject before commenting on it. Start with the post entitled, "...this is not about FUTURE spending, it is about past obligations, under the What would Reagan Do? thread.

Oh please...enough with the over usage of the word - "hostage" - sm

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Nobody is holding anything "hostage". That's the word that DNC has been telling people to repeat over and over as a scare tactic. Companies are not hiring under a democratic president and congress.

Doesn't take a rocket scientist to figure that one out.

Boehner and Republicans more concerned with social engineering than jobs. - Where

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Where is the job creation they promised?

If Bush were in office, it would be all his fault. This is - Obamas baby, and its dying.nm

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nm

If W were in office, we wouldn't have this conversation. - He got his 7 debt ceiling raises.nm

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If at first you don't succeed, think, think again.

Obama has tripled the debt. He has blown it all - out of the water..with nothing productive! nm

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nm

Bald-face lie alert. W increased it by +27.8%; O by +9% = - Ws increase is triple Os increase!

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in terms of percentage of GDP. In dollars and cents, it comes out even more...W added $6.11 trillion vs Os 1.65 trillion as of 2010 end. That comes out to 3.7 times more than Obama. Wrong again, ! nm, but then, deep down you already knew that, huh?

Boy are you trying to stretch that - see message

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Before you start shouting "bald face lie" and "wrong again" and the snide little "deep down you already knew that" comment lets take a look at the real figures, shall we.

You simply cannot compare 8 years to 2 years. No way, and that doesn't even deserve a "nice try" comment. You are purposefully trying to fudge the numbers to be what you want them to be.

In Dubya's first term he increased the debt 2.14T - NOT 6.11. Since Obama has not even completed his first term no way in you know where can you compare Duby's 8 years of debt to Obama's 2 years.

So - Dubya's first 4 years it's 2.14T (or that would be 1.07T for his first 2 years) and Obama's first 2 years as of 2010 of 1.65T. So Obama did increase the debt in his first 2 years than Dubya did.

And...since we know for a fact he's increasing it even more, if you double that figure (which we know it will be even more), then you have a more accurate figure of which for Obama's first term he will have raised it 3.3T (though the economist are saying it's going to likely be 3 times that amount).

So you are the one who is wrong. You cannot compare 8 years of debt to 2 years. - But then, deep down you already knew that, huh?

Shame on you for purposely distorting the figures.

Yes I can. For starters, W inherited a surplus which he decimated - just by breathing on it.

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O on the other hand inherited Ws economy in free fall, bursting bubbles, half-a-million jobs being lost monthly, failing banks, major industries on the brink of bankruptcy, a tanking stock market, a health care crisis, a couple of wars AND a $6.11 trillion deficit. I am flabbergasted he did not do more spending to stop the hemorrhaging, turn it around and get us from a deep recession to slow but steady growth within the first year. I will say it again. Flabbergasted.

For 6 years, W had a rubber stamp Congress, which was key to his creating such a ginormous deficit in the first place. Obama deals with a 50-foot brick wall and a 10-ton monolith of sour grapes, intent on destroying him at any and all costs. Given the current state of affairs and the polluted, acidic political environment, how likely do you think his deficit will in any way keep pace with Ws? Ain't. Gonna. Happen.

I do believe he will find a way to raise the revenues necessary to bankroll an effective jobs program AND to get it passed and implemented, just like he pretty much beat the GOP at their own game with the deficit ceiling debaucle by taking a page out of Kyl's Paygo matching dollars playbook and placing his own brand on it, out-strategizing the obstructionists, and holding and folding his cards on cue. After all, the GOP DID campaign on jobs, didn't they? While they continue to pander to corps, big business and the ubers, watch Obama in the background quietly making good on his AND their campaign promises.

What a joke! Obama is KILLING us in debt. You - cannot be serious without smirking. nm

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nm

Jobs loss free fall reversed, converted from - to +. Stock market - bottomed out Mar 2009 at

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DJA 6627. Today it closed at 12,571, 88.5% of its all time high, nearly doubled in volume over the past 2.3 years. Ummm, evidently the Wall Street bailout was, well.....a rousing success, kinda sorta like GM. Just imagine what else might have been better if there had been just a tad bit more cooperation from the GOP since then.

I'd like to know that myself, but doubt a straight answer - will ever show up. nm

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nm

In 1 week but "dipped" over last 4 weeks, as in fell, went down, - lowered, lessened

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That is what the article said. By comparison, in Jan 2009 598,000 jobs were LOST and 550,000 new jobless claims were filed.

The article states "sluggish hiring," as indicated by 400,000+ new jobless claims, has been going on for 15 weeks, whereas the previous two months, Feb and March, the numbers remained at levels indicating "healthy job growth."

So what happened between Feb and April? Ummmm, let's see here. New GOP majority took office and spent the first couple of months reading the constitution, taking care of social engineering agendas and holding symbolic votes: No Taxpayer Funding for Abortion Act, Protect Life Act, Repealing HCR Act, etc. Alas, as luck would have it, that trajectory was interrupted when they noticed the temporary continuing appropriations measures were expiring very couple of weeks. Those functioned something like depositing just enough bucks in the bank to get from one paycheck to the next.

Then in the first week of April they launched the shutdown/showdown approach and floated the annual budget that would have cut spending by $14 billion over 2010, which Democrats were able to pare back to $2 billion before a deal was struck. As we all know, the GOP has been on that roll ever since and what do we have now? Growth slowed down to a snails pace, probably a combination of scare tactics and spending cuts, not the best way to keep recovery on track, huh?

But hey, they are banking on voters blaming Obama, so what the heck? Could it be they believe slowed growth, default, double-dips, high unemployment rates and so forth are the best paths they can take toward majority rule in 2012? Guess they think we're all asleep at the wheel.

Baloney! You know, I used to defend Obama, but no more - Made a huge mistake in voting for him.

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He shows he has no idea what he is doing. We need a president who has actually run something. NONE of his policies so far so any promise. Spending, spending, and more spending, is not doing it.

Sorry, but the employment picture from Jan 2009 - until now

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says otherwise. In terms of jobs loss, free fall was stabilized within a month or two and jobs gains/loss restored to pre-recession levels within the first year. After that, growth happened; not leaps and bounds growth, but growth just the same. The numbers don't lie, and any amount of railing against Obama is not going to change that. See link. It is important to alway keep in mind the kinds of head winds Obama has had to face since the moment he took office.

It is also a fact that growth slow-down ensued precisely at the same moment the GOP turned their attentions from social engieering to focusing on the economy, threatening shutdown and floating my-way-or-the-highway spending cuts legislation. It is fairly obvious that this approach and the uncertainty that has resulted from it is exactly what has caused the loss of consumer confidence and nearly halted the hiring that was taking place in months before they started down that road.

Look, I am not that crazy about the idea of spending, but the fact is that an economy in recession will not recover without the direct infusion of cash, whether it be in the hands of consumers or business. One thing is certain. Consumers will spend when they get their hands on cash in this type of economy, exactly the kind of spending recovery needs (another really good reason NOT to tinker with entitlements at this juncture). The corps, not so much, and Obama cannot force the greedy hoarders to hire stateside when they have decided to hang on to their money, oursource our jobs and invest in overseas markets... not until tax loopholes are closed ON THEM (not on the midde class as this Gang of Six has in store) and trade agreements undergo drastic revision.

Decreasing rates on individual and corporate income makes no sense (at least at this point in time) and will make NO DIFFERENCE in what corporations decide to do with their unprecedented profits and smaller tax rates, unless and until incentives are shifted from encouraging overseas investment and brought back stateside where they belong. Long-term recovery, stabilization and growth will depend on jobs and hiring. Corporations and big business have demonstrated repeatedly that when given tax cuts year after year and bail out money, they do NOT start hiring out of the goodness of their hearts. It has become increasingly obvious that until they are forced to do otherwise, they will continue selling our country out from under us, unabated.

In the short term, new tax revenues, regrdless of whether they come from middle class, the ubers, corps or tax code revision, should be temporarily directed into JOBS programs. Once the recovery is behind us, those funds can be directed toward debt service.

http://www.businessinsider.com/monthly-job-gainslosses-march-2010-chart-2010-4

Excellent analysis - Thank you.

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Keep saying it loud and clear!

Guess you appreciate spin, or dont realize what that is.nm - Independent

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nm

Why so insulting? - No need to be so rude.

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The facts in the OP speak for themselves. You dont have any. - That also speaks for itself.nm

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nm

Spin is all the dems know since they have no - plans or solutions... pathetic.nm

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nm

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