Monday, October 15, 2012

Things are better, if not that much

To listen to the Republicans you'd think unemployment was on a upward spiral, and had been ever since Obama succeeded Bill Clinton in the White House. The fact is that the better part of a million people found work of some kind in September. True, they weren't good union jobs, or high tech jobs like the ones Bain is currently sending to China just as fast as they can, but these were real jobs.

The Republicans say the 60,000 people surveyed for the unemployment number were lying. They probably say that about all the retailers that reported significantly higher sales in August and September. No matter that this will be born out by Sales Tax receipts.

Historically it has always taken about ten years to recover from a financial collapse. A robust stimulus program can shorten that to a couple of years, but we didn't have one of those. We had a milk-toast stimulus that went heavily to tax cuts and had no 'buy American' provision because the Republicans demanded those things. They pretend that there weren't any tax cuts at all, but rather claim bald faced that Obama raised taxes dramatically, and they complain that companies that got stimulus money off-shored work.

The good news is that enough Americans aren't buying 'it' to allow the Republicans back into power. If the Dems can get the turnout, all will be well. God help us it they don't.

2 comments:

Anonymous said...

U-6, the real unemployment, underemployment, part time worker that wants full time work, given up looking worker ... 14.7% all other numbers are B.S.

prairie2 said...

I'm sorry but you can't keep clinging to the old U6 numbers, they are subject to updating. Things are getting better whether you like it or not.