VIDEO: Progressives and Obama: From Wall Street to the war, this isn’t what Progressive Democrats voted for, Norman Solomon, July 10, 2010 by The Real News Network
2nd Great Republican Depression: U.S. Experiencing Worst Episode of Prolonged Unemployment Since Great Depression. Adjusting for demographic factors, current labor market downturn steeper than ’82-’83 recession. Published on Friday, July 2, 2010 by Center for Economic and Policy Research (CEPR)
Washington, D.C. – As the nation contends with a long and sustained labor market recession, a new study from the Center for Economic and Policy Research demonstrates that the current unemployment rate is higher than the conventional measure shows.
“An unemployment rate that has hovered above 9 percent for several months is striking, but the jobs picture is even worse than it looks,” said report author and CEPR Economist David Rosnick.
The study, “The Adult Recession: Age-Adjusted Unemployment at Post-War Highs,” adjusts the current unemployment rate to account for demographic differences and finds that the unemployment rate has not fallen below 10.8 percent in the last 12 months. During the worst episode of the recession of the 1980s — the second half of 1982 and the first half of 1983 — unemployment passed 10 percent for 7 months.
The analysis notes that the population is older today than it was in the 1980s, which has the effect of lowering today’s unemployment rate relative to the past. Since they change jobs more frequently and are more likely to move in and out of the labor market, Young people have a higher unemployment rate than older workers. Adjusting for this older workforce shows that the United States is experiencing the weakest labor market since the Great Depression.
The severity of the current unemployment situation suggests that policy makers should consider measures that would slow or reverse this trend. Additional stimulus such as work sharing or the extension of unemployment benefits by Congress would go far in addressing the plight of the millions of unemployed Americans suffering as a result of this downturn.
FULL ANALYSIS can be found here.
The political instrument of moneyed elites, and a retrograde societal force, the GOP today is more negative than ever. Its agenda, if fully implemented, would prove catastrophic. Here’s what an unfettered Republican Party would do “for” America:
1) Greatly reduce or entirely eliminate taxes on the rich, forcing working families to make up revenue shortfalls.
2) Bust labor unions, and prevent collective bargaining for wages and benefits.
3) Stubbornly deny the climate change while pumping more pollutants into the environment from dirty industries and practices.
4) Remove regulations on investment banks and credit card companies eroding consumer protections.
5) Continue to criticize and under fund public education, advocating private schooling instead, to dumb workers down.
6) Outlaw abortion, under a moral guise, impelling thousands of functioning females to perish because of sexist denials of their basic rights.
7) Continue to recite a Pledge of Allegiance whose last six words are “with liberty and justice for all,” while harrassing homosexual citizens.
8) Speak often and loftily of freedom, but engage in neo-McCarthyite witch hunts, Red-baiting name calling, and a host of Patriot Act sins against the U. S. Constitution in the name of “national security.”
9) Bully the world with US aggressions on foreign soil, kill countless thousands of innocents, waste billions of badly-needed dollars, and make us hated around the planet.
10) Generally drive down the income levels of America’s working-class majority, as a cost-saving corporate measure, dooming society to economic ruin!
11) Lie about affordable health care for all, creating a national security threat by fooling some Americans into thinking that public health care is a godless socialist attack on basic American freedoms.
12) Unleash de facto ethnic cleansing against 12 million immigrant men, women, and children, blaming them for hardships experienced due to capitalist excess.
13) Shamefully try to lend credence to their avarice and social irresponsibility by revising the Bible to obscure passages that place human need before abject greed as one conservative group is really trying to do!
14) Support intensely bigoted hatred that has crazed extremists dreaming of literally tearing Barack Obama to pieces and gassing all liberals.
15) Place the livelihoods and lives of over 300 million Americans in the hands of incompetent ideological “purists” such as Sarah Palin.
While there are certainly Democrats who’ve yet to show spine in furtherance of vital change, let’s be absolutely clear about the unmitigated disaster that would follow if Republicans, in their present ultra-rightist incarnation, ruled our country exactly as they wickedly wished. READ MORE: http://www.alternet.org/story/143917/15_awful_things_republicans_would_do_if_they_had_the_chance
Leave ‘Em Laughing. Open ltr to CNN:
FOX regularly pushes distorted stories, and uses them to whip up racial fear. It is unacceptable for CNN, which positions itself as a credible source of news and analysis, to uncritically echo FOX’s dishonest race-baiting.
What the hell’s the matter with you? Do you want this country to disintegrate? Report the whole truth and nothing but the truth, or quit pretending to be journalists. Call yourselves racist corporatist shills instead.
Sincerely, with rapidly diminishing respect, j
READ MORE: FOX NEWS, HOLY LAND, SUPERMAN
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