Austerity USA - today's jobs report dismal

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Public sector layoffs demanded by the Republicans have borne fruit.






Thanks to the already reduced revenues available to fund public employment, federal, state, and local government employment is down, and the GOP rejoices.






Because government cannot spend, market uncertainty and layoffs in industries that rely on public contracts are rife.








The golden goose - the American consumer - is dying.






Private employment is stalled as well, as the rich and Wall Street speculators pocket bailout funds and record profits and invest them in cheap labor markets abroad now that the golden goose is dying.






In order to preserve tax cuts for rich people, loopholes, bailouts for Wall Street, and corporate subsidies, the GOP has held America hostage ever since America had the temerity to elect the first Black president.






Refusing to cut spending until after Bush's tax cuts, failed wars and stimulus were put on the nation's credit card, the GOP was suddenly recalled to a sense of fiscal responsibility on January 21, 2009.






Now, they want to cut spending on all programs that don't benefit the wealthy and powerful business interests.






Now, they want to blame Obama for their housing bubble collapse, their reckless spending, and their refusal to put country above the twisted ideology of the Right is economic treason.
 
57,000 private sector jobs added 39,000 public lost

It's not nearly as bad as the headlines show, gov is still bloated
 
The Dude said:
57,000 private sector jobs added 39,000 public lost

It's not nearly as bad as the headlines show, gov is still bloated
Click to expand...


But it is as bad as the headlines show. 18,000 net jobs is bad. 9.2% unemployment is really really bad. You may be happy that there are fewer government employees, and that's fine, but you should realize that at a time of low economic growth following a deep recession, cutting jobs of any kind will hinder GDP growth and contribute to high unemployment.
 
and you should realize that if the number were too high there would be runaway inflation.

Gov is still way too fat and bloated.
 
The Dude said:
and you should realize that if the number were too high there would be runaway inflation.

Gov is still way too fat and bloated.
Click to expand...


If what number were too high? The monthly jobs number? Get the fuck out of here with that bullshit. It would take several exceedingly high monthly job increases, enough to make a significant dent in the unemployment rate, before inflation, let alone "runaway inflation," would be of any concern to any rational person. And the FED has plenty of arrows in its quiver to combat inflation if it actually became a concern. Why don't we worry about the real problems that actually exist right now today, say 9.2% unemployment?

And I understand that you think that government is too bloated, and, like I said, that's fine. But what you end up with when government sheds jobs (-500,000 since 2009) in this type of economic environment is high unemployment and low GDP growth and everything attendant thereto. Just so you're ware of the consequences of your preferred policies.
 
The daughter of a friend of mine, she's just an ordinary girl of about 20, started a little business with her friend before they went to study in UK for a year. She bought a handbag from Korea. Paid for it and had it delivered. Like ladies all over th world she decided she didnt really like it so she advertised it on the net. On the first day she had about ten enquiries so she bought some more. They arrived and she and her friend delivered them within a couple of days. Then some beach shoes, some teen costume jewellery, some of these stupid things kids wear round their necks.
When it came time to leave for England she had enough pocket money so her parents didn't have to help her.

Not a big deal really. The point of the story is simple. If you want to make money and no one will employ you - do it yourself.

She came to see me last week on her return from the UK and we went to lunch. In the two weeks she had been home she had made enough to buy me lunch. I should not have allowed her to, but she clearly felt quite proud of herself.

All you have to do is think a bit.
 
It's not a good time to be lazy, of a non skilled gov astonaut (taking up time and space).
The American economy is the best in the world by far and will stay that way for the foreseeable future.
One month's numbers don't get me in a tizzy.

were the numbers good? No I didn't say shuch
what I said turbo-libs is the number is not as bad as the headline
57,000 private jobs is well below average and will get better
39,000 gov jobs lost is a blessing we need hundreds of thousand more like this.
 
Government employment declined for an eighth straight month as municipalities and state governments continued to wield the ax to balance their budgets.




http://www.reuters.com/article/2011/07/08/us-usa-economy-idUSTRE7662I420110708






And how many private sector jobs will be gone as businesses that used to provide goods and services to those unemployed government workers are forced to lay off workers or close?


Conservatards pretend that the only spending cuts that hurt the surrounding economy are cuts in defense spending.
 
The Dude said:
It's not a good time to be lazy, of a non skilled gov astonaut (taking up time and space).
The American economy is the best in the world by far and will stay that way for the foreseeable future.
One month's numbers don't get me in a tizzy.

were the numbers good? No I didn't say shuch
what I said turbo-libs is the number is not as bad as the headline
57,000 private jobs is well below average and will get better
39,000 gov jobs lost is a blessing we need hundreds of thousand more like this.
Click to expand...


You've got to be kidding me. The number is as bad as the headline. Even the private sector job number was shitty. You may think it's a good thing for governments to shed jobs but it will continue to be a drain on the economy. Here's the share of adults with jobs since the recession began:

08economix-jobs-blog480.jpg


That's shitty no matter how you slice it and there is no reason to believe it will significantly improve at any point in the near future.
 
The Dude said:
I know it's a good think for gov workers to lose jobs.
Click to expand...

I understood you the first time you said it. Just don't pretend that 57,000 private sector jobs is not bad news or that the loss of government will jobs will not have an adverse impact on the recovery.
 
Space program layoffs as last shuttle scheduled; economy tanking; Republicans rejoice!




Just off Apollo Road here in Titusville, there was a for sale sign in front of a three-bedroom house. Asking price: $32,000. The house was in foreclosure.




"I have a feeling this town will become a ghost town," said Brian Tagtow, who lives in Titusville. "Businesses are already shutting down. There's nobody hiring anymore."




http://abcnews.go.com/Technology/sp...le-atlantis-worsens-economy/story?id=14024251




Nearly all the cuts will affect private sector workers; the 2,100 direct NASA employees currently are not targeted for layoffs. Overall, the Space Center workforce earns an average annual wage of $75,000, compared with $47,000 "outside of the gate." Nationally, the loss of space jobs in Florida, California, Louisiana, Texas, Utah, and other states could approach that...






http://abcnews.go.com/Technology/sp...le-atlantis-worsens-economy/story?id=14024251
 
I don't think any federal gov't jobs were lost.

I'm surprised there wasn't more public (state) jobs lost.
 
Obama just said "The American people need us to do everything we can to strengthen this economy".



The GOP's response?




Boehner the Moaner: "Today's report is more evidence that the misguided 'stimulus' spending binge, excessive regulations, and an overwhelming national debt continue to hold back private-sector job creation in our country."




So the GOP's plan is -




1. Oppose Obama so he won't get any credit for cleaning up the mess Bush left.


2. Lay off more government workers.


3. Cut social programs.


4. Lessen regulation of the businesses that drove the housing bubble collapse.


5. Give the rich more tax cuts.


6. Open more tax loopholes for corporate profits.






Republicans have blocked all of Obamas efforts to revive the economy they tanked, including approving the funding that is needed to pay bills run up by their failed wars, Wall Street bailouts, and real-estate bust.
 
What astronauts?


The last shuttle just launched.


Any space exploration we do from now on will be hitchhiking with the Russians.


39,000 public sector jobs cut as a result of lower revenue for governments, and the GOP says "not enough"?


Are any private sector jobs at risk when mass layoffs of government workers occur? The Conservatards say "no".


Rightards pretend that the only way the economy is hurt by government cutbacks is when those cutbacks happen at the Pentagon.
 
we have hundreds of thousand of gov jobs still to ax this and next year.
And we will still be full of gov astronauts (taking up time and space).
 
Glad to see your post. Keep up the good work.

Who will the unemployed vote for in 2012?


The party of 'No'?


The party that guts safety-net and social programs because they blew the budget surplus on tax cuts, wars and Wall Street bailouts?


The party that cries about being poor after they went for tax cuts for the rich, unbridled military spending and corporate welfare?
 
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