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Economic Nightmare In Obamerica - How's That Hopey-Changey Thing Working Out For You? - Left-Winger Paul Krugman in the Left-Wing New York Times: our economy remains deeply depressed.
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Ramon F. CabanaBoy
Feb 8, 2012, 8:42:22 AM2/8/12
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Economic Nightmare In Obamerica
How's That Hopey-Changey Thing Working Out For You?
Left-Winger Paul Krugman in the Left-Wing New York Times: our economy
remains deeply depressed. As the Economic Policy Institute points out,
we started 2012 with fewer workers employed than in January 2001 —
zero growth after 11 years, even as the population, and therefore the
number of jobs we needed, grew steadily. The institute estimates that
even at January’s pace of job creation it would take us until 2019 to
return to full employment.
And we should never forget that the persistence of high unemployment
inflicts enormous, continuing damage on our economy and our society,
even if the unemployment rate is gradually declining. Bear in mind, in
particular, the fact that long-term unemployment — the percentage of
workers who have been out of work for six months or more — remains at
levels not seen since the Great Depression. And each month that this
goes on means more Americans permanently alienated from the work
force, more families exhausting their savings, and, not least, more of
our fellow citizens losing hope.
http://www.nytimes.com/2012/02/06/opinion/krugman-things-are-not-ok.html?_r=3&hp=&pagewanted=print
----
Bad News For America Is Bad News For Obozo
How's That Hopey-Changey Thing Working Out For You?
Left-Winger Paul Krugman in the Left-Wing New York Times: our economy
remains deeply depressed. As the Economic Policy Institute points out,
we started 2012 with fewer workers employed than in January 2001 —
zero growth after 11 years, even as the population, and therefore the
number of jobs we needed, grew steadily. The institute estimates that
even at January’s pace of job creation it would take us until 2019 to
return to full employment.
And we should never forget that the persistence of high unemployment
inflicts enormous, continuing damage on our economy and our society,
even if the unemployment rate is gradually declining. Bear in mind, in
particular, the fact that long-term unemployment — the percentage of
workers who have been out of work for six months or more — remains at
levels not seen since the Great Depression. And each month that this
goes on means more Americans permanently alienated from the work
force, more families exhausting their savings, and, not least, more of
our fellow citizens losing hope.
http://www.nytimes.com/2012/02/06/opinion/krugman-things-are-not-ok.html?_r=3&hp=&pagewanted=print
----
Bad News For America Is Bad News For Obozo
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