A major issue that seems to be overlooked by any news
network....and you won't hear politicians talk about it....and there certainly will be no addressing the issue by the administration loyalists.....
Record levels of unemployment mean record levels of taxes NOT COLLECTED.....at the state and federal level. Hence a jobless recovery is NOT a recovery except by some arbitrary economic definition. Big deal...the arbitrary definition says things are better. The real life issue....unemployment is STILL increasing.
It was reported by one of the network news reporters that there have been NO NEW JOBS created since 1/1/2009 in the private sector. The ONLY new jobs created have been in government (big surprise eh?). The hokey, political, propaganda, feel good nomenclature of "jobs saved" is a nebulous joke.
Most forecasts are for employment to not rebound until some time in 2010. And oh by the way there will be a new norm for what average normal unemployment is to be ( a higher percent than in the past).
Get ready for the next wave of stimulus give aways. With the 2010 election season just around the corner the politicians (depending which one) will be promoting the improvements.....watch for the smoke.
How about another real indicator? Where are the assets to back up all the deficit spending? What is the dollar tied to these days (nothing is the answer...just print what ya need).
Another one? Zero or negative inflation....that's why we don't get a SS increase in 2010. Is anybody out there paying less for anything this year vs 2008. None that I know of. Hmmmmnnn I wonder how that number is calculated.
While we are talking about smoke....where do you think the $500 billion in Medicare cuts are going to come from? Affecting?
Nothing new here at all. Just not talked about. But wait.............
btk
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