Oct. 6 The news today that there’s been 150,000 more jobs created in the last two months may cover up some ugly facts. The number of long term unemployed (over six months) is over 6 million and it went up 208,000.
Also, since 2008 there’s been 538,000 government jobs lost according to the Washington Post. This is nuts. It’s the exact opposite of what should be happening. During the Great Depression the government put an extra 11 million on government payrolls. It helped bring the rate of people without work from a ghastly 25% down to a terrible 16% (which went lower as factories started hiring for World War II).
And there may be more losses on the way. The postal service wants to layoff 120,000 workers this year claiming it’s on the verge of bankruptcy. The postal unions say this is bogus, that a 2006 law is making the service put unnecessary billions into pensions that won’t come due for 75 years.
Of course the Supercommittee of the Deficit is supposed to layout $1.5 trillion (1,500,000,000,000) in cuts or tax increases (and since the Cult of No Taxes rules Congress, we’re probably talking $1.5 trillion in cuts) That’s sure to mean more government layoffs.
If everyone had a job there’d be a river of tax money coming into the government and our monster debt would be tamed. Instead we have Herbert Hoover thinking winning out, tear down the government, lower taxes on companies so they can…….buy back their stock.
Occupy Wall Street needs to demand “Ten Million Green Jobs Now”