Bad Job Numbers and the Secret Second Stimulus

Jobs-Skyline

Robert Reich: Bottom line: Obama will be going into an election year with a higher total level of unemployment than before the Great Recession. He will have to argue that, were it not for his policies, things would be even worse. Counter-factuals like this do not sit well on bumper stickers.

Once Again on the President, the Congress, and the Jobless

Jobless

As we note, the heightened attention to the crisis, and hopefully proposals for Congressional action, the alarming jobless figures will be repeated over and over. The employment situation is dire and from all indications it is going to get worse.

Seeing Red: The Budget Deficit – Past, Present and Future

Budget-balloon

The dangers of a foreign retreat from Treasury securities are slight in the short-term but increase over time as the public debt continues to grow. Americans would do well to realize that things which cannot go on forever tend not to.

Why the Dow is Hitting 10,000 Even When Consumers Can’t Buy And Business Cries “Socialism”

Greed

The Dow is up despite the biggest consumer retreat from the market since the Great Depression because of the very thing so many executives are complaining about, which is government’s expansion.

The New Employment Numbers: Things are Worsening More Slowly

unemployed

So let’s be grateful that the economy is getting worse more slowly than it was. But don’t be lured into thinking we’re ever going back to where we were. Most of the jobs that have been lost are never coming back.

The Great Debt Scare: Why Has It Returned?

broken economy

It’s the kind of thing I expect to hear from deficit hawks and chicken littles — from the self-described “fiscally responsible” right, from the scolds Ross Perot and Pete Peterson, from my former cabinet colleague Bob Rubin. But yesterday I was shown slides developed by the putatively liberal Center for American Progress intended to make [...]

Where Government Spending Should be Trimmed — And Why It’s Necessary to Fast-Track Universal Health Care

play-aig

It’s no accident that as Congress returns this week from its two-week recess and begins debate on the $3.5 trillion budget plans for the fiscal year starting in October — which may or may not include a provision that fast-tracks Obama’s health care proposal by allowing it to pass the Senate with a mere majority [...]

Ensure Stimulus Funds Reach the CSU System

college student

The faculty in the California State University are deeply concerned about the rapid decline in the ability of our nation’s largest four-year university system to deliver higher education to all eligible students. Our public university system is staggering from deep cuts to state funding already made this year, last year, and earlier this decade. Now [...]

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