Unemployment 8.1 pct, highest since '83

What part of "it's going to get worse before it gets better" do we not understand?

While Rush and the republicans claim doom and gloom, it seems they were happy in their ignorance under Bush as this timebomb was ticking.

Didn't the White House just over a week ago project that we were going to peak at 8.1% unemployment this year? Have we peaked? Not too sure about their economic skills/accuracy.
http://www.arbitraryvote.com

If you restore all the classifications of jobless Americans who past administrations since Reagan have removed from the index, the chronically unemployed, those unemployed for over a year, left handed people with only right-handed scissors (OK, just kidding on this one, but you get the point), etc, the actual unemployment rate is barely under 11%. Who would have thought we could be brought so low in just two presidential terms...

Hey, here is an idea. Why don't we fix this? I realize Obama publisist Silva said this was a year in the making but c'mon, isn't it about time to quit blaming Bush and turn it around.

Building a bridge in 2 years ain't gonna do it.

How about this:

Stabilize banks and the market:

Re-establish the so-called uptick rule.

Enforce the rule against "naked" short selling.

Eliminate mark-to-market restrictions.

Review the entire regulatory quagmire that is banking in order to eliminate all of the conflicting regulation. This time around, include bankers.

Bring down FDIC insurance rates in order to make them proportionate to the new coverage rules.

Reverse the unemployment trend and stabilize private businesses:

Allow depreciation of capital equipment over 12 months instead of 60. Include company owned cars and aircraft.

Allow leasehold improvements to be depreciated over 5 years instead of 15.

Allow principle as well as interest on new commercial buildings to be written off.

Establish tort reform with an emphasis on medical malpractice.

Establish tax credits for jobs created this year.

Reduce minimum wage to $5.00/hour.

Allow employers to replace striking workers permanently.

Provide government loan insurance to cover receivables from distressed corporations.

This is not easy, it's not supposed to be. We have a cancer, we need to cut it out or risk losing all.

Well written. Honest factual information, though it may not be what we want to hear is necessary.

Government boosted employment while the private sector -- which provides the taxes for the government -- was in free fall. What's wrong with this picture? President Doom had better start focusing on the private economy instead of boosting his socialist state.

Heck of a job Obama!....your first 40 days have been a disaster ! You are the worst president ever! And now you want to stuff national health care down our throats? Good luck with that! Even your own party is starting to rebel against your move to socialism! Stop the neo marxist movement in America!!

NOBAMA! NO SOCIALISM!!!

There's only so much that optimism in Obama's ability can do. Results will be necessary for a true economic turnaround.

http://www.political-buzz.com/

Does unemployment have to hit 25% before our elected leaders wake up and get us out of free trade, I have a hard time believing that protectionism will hurt us more.

Stop the neo marxist movement in America!!

NOBAMA! NO SOCIALISM!!!

Posted by: Joe | March 6, 2009 10:02 AM

You forgot to put in your last name.....McCarthy!

For the above Poster who claimed the WH projected the unemployment would peak at 8.1% is nonsense. The President told the American People more than a couple times that things would get worst before they get better. OK, what part of that statement do you not understand?

Greg, it is nice to know you have found work at the NAM after the rif at the RNC.

Us clear thinking people knew that a failed community activist named Barack "Hussein" Obama would be in way over his head as president, and WOW..we were right!
650,000 job loses, the stock market at a twelve year low and all the white house wants to talk about is Rush Limbaugh.

Paulo

I love reading all these right wing morons blame this on Obama. He's been President for just over 40 days! The GOP spent the first 6 years of Bushies Presidency blaming everything bad on Clinton and the last two blaming everything on Democrats in Congress. How in the name of God are Republicans capable of calling themselves the "Party of personal responsibility?" They spend so much time blaming others for their misdeads they should call themselves the party of "Who, me?"

Very few people have any confidence in Obama and the Democrats. Therefore, they are not holding on to people.

Does anyone really think Obama is working to help the economy? The "stimulus" is a joke.

Raising taxes now is going to kill us too.

And worrying about non-existent human-caused Global Warming is irresponsible now.

These Liberals are a disaster.

Just like communism, laissez-faire capitalism has collapsed. The hysterical Obama bashing is just the last gasps of those who cannot accept that their ideology has been discredited. The Republicans created this mess, as usual the Democrats must clean it up.

*sigh*

Rev. William Hayash said,

>>

Lying is a sin, Rev. You are considered unemployed if you are searching for a job. How "chronic" or long-term your situation is is irrelevant. And this wasn't changed by any recent administrations. I'd suggest you check http:///www.bls.goc/cps.

There are also 6 measures of unemployment, three of which track "discouraged workers," "marginally attached workers," and "part time for economic reasons" workers.

The excuses are plentiful but none the less as shallow as the Obama promises made to get to the White House.

Blaming Bush is getting pretty juvenile and the Republicans have been the Minority in Congress for the last three years. What was called republican fear mongering by the Obamabots during the long 18 month campaign, is now the Standard Issued White House gloom and doom scenario. A well played out tactic that at least got Obama's first "Biggest Ever Federal Deficit" passed through Congress without scrutiny or the "transparent" process we were all promised.

If no one has confidence in Obama, why are his approval ratings so high? Conservatives and liberals, blaming each other won't do a thing. I guess everyone has too much time on their hands because they are not working. It's amazing the hate that's being spewed. Let's get it together and come together to pull this country out of the gutter (and no, I am not a hippie :)
http://realityrounds.com/
RR

Blaming Bush is getting pretty juvenile
Posted by: springfield | March 6, 2009 12:13 PM

From the party that used Clinton and Carter, for crying out loud, for all their problems, this has got to be the biggest joke going. 40 days out of office...it's Bush who? The keen insight of the narrowminded woke up in January and found there was a problem. Par for the course.

Yes. it is bad.
No. I don't know anymore 2 income families.
Yes. I'm worried about my job.
No. I'm not buying luxury items.
Yes. I'm optomistic.
No. It won't really recover for a few years.
Yes. I'm in the same boat as everyone else.
Yes. I've learned to make and eat soup.

WELCOME TO THE OBAMA ECONOMY!

Barack Hussein Obama = Jimmy Carter 2.0!

Really. The. Worst. President. Ever.

(and it's only been a month!)

In view of this, if looking for a job is now your full-time job, there are resources to help you. http://www.startnowcareerguide.com

My highly refined sense of fairness does not go into Blame Game Mode too easily. I do, however, keep looking for a small sign that the new president has some Real Recession Ammo that will be brought to bear, at some point. That, he will make some fundamentally sound Recession-Tested decisions, at some point.

Greg @ 9:31 a.m., lots of great items on your list, but we appear to be, by design, bar-b-que, just waiting to be marinated in that special sauce. My advice, of little or no value, ~ Give ye up all hope. Have a nice day and find some way to just enjoy the moment.

I know that there is a split on healthcare coverage within the country, but this huge unemployment number is going to force the issue to be dealt with. Cobra benefits only last so long, and if any of these unemployed become uninsured and something happens, they will most likely have to file bankruptcy. How many personal bankruptcy cases will it take until the outcry for reform is loud enough?

It's not your shoes today.....but for 2.5 million people, it's quickly become reality.

For the above Poster who claimed the WH projected the unemployment would peak at 8.1% is nonsense. The President told the American People more than a couple times that things would get worst before they get better. OK, what part of that statement do you not understand?

To the Right wing tards bashing Obama,
Please note how the stock market reacted to Reagan's Inauguration. Fools.

I believe that sometimes the most brilliant minds go looking for complicated solutions, when much simpler ones could suffice. Why can't mortgages be assumed? It's kind of like swapping out a car lease to avoid the monetary penalties. With a mortgage, people who are facing foreclosures due to loss of a job, etc., should be able to allow new buyers to assume their mortgage, without having to belly up huge down payments. That way the folks who have to let the house go, won't damage, or further damage their credit; and the new owners can get into a home comfortably. With lowered interest rates, etc. this should pump a lot of new money into the economy, which would create more jobs, etc. Tell me, why aren't mortgage companies doing this?

You're on the mark, Django; we don't want solutions we want scapegoats. I like my goats curried.

If no one has confidence in Obama, why are his approval ratings so high?
Posted by: Reality Rounds | March 6, 2009 12:14 PM

Barack Obama learned long ago that he can say one thing and do the opposite. He knows that he has to sound like he cares about healthcare, unemployment, the economy, and his faithful followers will believe him. To those who believe that nationalized healthcare will benefit this country by keeping 2.5million or so people out of bankruptcy, think again. The $640billion that has been "set aside" for healthcare as a down payment is just the tip of the iceberg that will smash into the USS Economy's port bows before it bankrupts the entire nation, not just those unfortunate 2.5 million.

Hola Flo. No, Flo, I have been favorably convinced that there really are some on Team Opposition that do want solutions. BUT are they the right solutions? If even some watered-down version of Greg's proposals could be thrown in the souffle', I would start to see a sliver of white light. Might even sing, but No puedo bailar.

We probably didn't realize it at the time, but a bit of Newt made Bill Clinton the acclaimed succes story that he is today, well, sort-of. Regards. Viernes, guitarras, calor, delightful torture, y...

This is the leftover Republican effect. Like withdrawal effects, recovery takes time.

Under the evil Bush plan the "rich guy" that saw his income go from $250,000 to $500,000 saw his tax bill go from $80,000 to $170,000. Now under the fair system of Obama the "rich guy" sees his income drop to $250,000 and his taxes cut to $90,000. And he gets another tax cut - he no longer has to pay any capital gains tax because his business is worth less, his real estate and his investments are worth less. The "rich guy" now doesn't have to worry about paying taxes on interest and dividends either. I guess Obama now thinks it's okay to give the rich tax cuts.

I forgot ..."who's going to pay for all the new spending?"