Archive for where are the jobs?

What I will not write about today

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Sometimes I get so frustrated and/or disheartened and/or annoyed by some of the news stories of the day that I can’t bring myself to write about them. Here are a few recent reports that made my blood pressure hit the roof. I am avoiding delving into them at length out of concern for my physical and mental health.

  • 15 States Have Loosened Gun Restrictions– Because providing gun manufacturers with more cash, coveting phallic symbols, pretending you can outgun murderers under stress, and endangering more lives is a priority. USA! USA!

See what I mean? So who’s up for a couple of Margs or a trough of wine?

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Wall Street Soars with Wealth as Wages Stagnate, Jobs Remain in a Slump

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dow jones march 5 2013As of 12:30 PT

Update:

The Dow Jones industrial average rose more than 100 points today, allowing the world’s most-watched stock index to close at a record high.

It marks the highest daily close since October 2007, just before the financial crisis punished the stock market.

For the latest information go to www.latimes.com.

chart corporate profits highCorporate profits

graph workers wages as a percentage of the economy near record lows via Think ProgressWorkers’ wages as a percentage of the economy, which are hovering near record lows.

Your Daily Dose of BuzzFlash at Truthout, via my pal Mark Karlin:

The March 4 NYT headline lays it out bluntly: “Recovery in U.S. Is Lifting Profits, but Not Adding Jobs.” …Even those who are employed are finding that their wages are not growing relative to the explosion in corporate profits.

The grim figures in terms of the working class speak for themselves in the NYT story:

As a percentage of national income, corporate profits stood at 14.2 percent in the third quarter of 2012, the largest share at any time since 1950, while the portion of income that went to employees was 61.7 percent, near its lowest point since 1966. [...]

Corporate earnings have risen at an annualized rate of 20.1 percent since the end of 2008, he said, but disposable income inched ahead by 1.4 percent annually over the same period, after adjusting for inflation.

As BuzzFlash at Truthout noted in “A Tale of Two Economies” last autumn:

However, what is more important than the unemployment rate is the overall degradation of work and wage stagnation and decline under the current corporate and business climate that devalues labor.  [...]

This is the primary story of economic distress in the United States at this time: the devaluation of those who are paid by the hour….

After all, we have two economies – and one of them you barely hear about as billionaires whine about the threat of higher taxes on their wealth.  The second economy, the economy of the privileged, is booming.  The other day the stock market reached near record highs. [...]

The rich are making out like bandits in the booming Wall Street economy that is based on profits squeezed out of firing workers, lowering net wages (adjusted for inflation), and outsourcing jobs to exploited labor overseas. [...]

[T]he March 2013 NYT article begins with these observations:

[...] With millions still out of work, companies face little pressure to raise salaries, while productivity gains allow them to increase sales without adding workers….

The result has been a golden age for corporate profits, especially among multinational giants that are also benefiting from faster growth in emerging economies like China and India. [...]

As the stock market soars, those who labor for a living are left further and further behind.

Please read the entire post here.

chart ed schultz income disparity middle class

Under Gov. Scott Walker, WI private-sector job creation “slowed markedly,” and his income tax cut helps rich more

scott walker no jobs

Wisconsin Governor Scott Walker made a major campaign promise that his state on his watch would add 250,000 private-sector jobs by the end of his term.

How’d that work out for you, Scotty?

JSOnline:

Job creation in Wisconsin slowed markedly between July and September, according to the most recent available government data deemed credible by economists. [...]

Friday’s report also contained the weakest reading since the 12 months of September 2009 to September 2010 – a period that overlapped with the last recession. [...]

The last time that Wisconsin appeared in a national ranking of the Quarterly Census, it was for the 12 months through June 2012. Then, Wisconsin ranked 42 out of the 50 states in private-sector job creation, a decline from a rank of 37 in the previous period, from March 2011 to March 2012.

That makes Wisconsin a laggard in job creation even by the glacial standards of the national recovery, which has moved far too slowly to absorb the millions of unemployed left over from the 2007-’09 recession.

See how well union busting and austerity work?

but wait there's more

According to the Wisconsin State Journal and an analysis by the Institute on Taxation and Economic Policy done for the Wisconsin Budget Project, Walker’s full of crap. But then we already knew that.

TheNorthwestern.com explains:

Gov. Scott Walker’s proposed income tax cut would give more money back to the rich than it would the poor, despite his billing it as a boon to the middle class, a new analysis shows.

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Andrew Reschovsky, a UW-Madison professor of public affairs and applied economics:

“There is no evidence that the tax cut will do much to encourage growth and job creation.”

Mark Schug, a UW-Milwaukee professor emeritus who now consults in the area of economic education:

[S]uch a cut is not likely to be an economic boost. “I do tend to think that the income tax reduction is not sufficient.”

Of course, even after all these stats and expert opinions, Walker’s fellow Republicans will undoubtedly continue to march in lockstep, livelihoods of the 47%/99% be damned:

[T]he Republican-controlled Legislature will now take the next four months making changes before voting on it likely sometime in June.

They’re nothing if not predictable. Be proud, Koch brothers.

VIDEO: “We have never cut government jobs when we were trying to save the economy. Until this time.”

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Rachel Maddow poignantly addresses who exactly the people are who Republicans insist on firing, on laying off, on eliminating sources of steady work, on denying employment, income, and therefore health care and education opportunities. Those people for whom many on the right show such obvious disdain are public sector workers who have (or had) jobs as real as any private sector workers have (or had).

Yet the GOP has reveled in slashing “government workers” as if they are something less than, as if their jobs aren’t really jobs at all, as if there is something inherently inferior about what they do to get by.

And by get by I mean feel secure, and by feel secure I mean also offer the rest of us a degree of security by way of the services they provide to this country.

But busting unions and privatizing America is the goal of those on the right. Their priority? Profits over people. Power. Livelihoods and economic “certainty” be damned. Oh, and of course, denying President Obama any victories ever at the risk of assuring him a legacy of *gasp!* success (too late).

An appreciation by Rachel Maddow:

We have never cut government jobs when we were trying to save the economy. Until this time.”

“Good luck, officer, see you around!”

We lionize and celebrate the people who teach us our multiplication tables and fix our streets and keep us safe at night and rescue us from fires. We lionize and celebrate them justly as we should, and then in record numbers, we can them, [!] hurting them and hurting us as a country. Not every public sector worker’s gonna win the Medal of Valor like those eighteen heroes did at the White House today.

“But there is reason to appreciate them, both in the heroic individual specific, and in the aggregate, for what they do for us every day.

public sector job losschart graph public sector jobs bush chart graph public sector job loss Obamachart public sector job loss presidents

VIDEO: “We’ve been told not to be in Congress. Speaker Boehner controls the agenda… and he sent us home.”

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Your tax dollars at work:

Ed Schultz and his guests Reps. Jerry Nadler, Sheila Jackson Lee, and John Garamendi helped to clarify, again, how Republicans are trying to cut, cut, cut their way into another recession, are willing to take us straight to the bottom with sequestration, are threatening to destroy (privatize) “the Big Three”: Medicare, Medicaid, and Social Security, and head-scratchingly voted to recess for several days instead of doing what they were elected to do: find ways to create jobs and provide for the health and welfare of their fellow Americans.

Garamendi:

“They’re headed towards another manufactured disaster.”

If the GOP has its way, up to a million jobs could be eliminated. We’ve already cut the deficit in half in record time, which as Nadler (among others) points out, happened a little too quickly for comfort. When things move this fast, there is a real danger of more, not fewer, job losses.

Ed:

“Where’s the sense of urgency here? What are you doing on vacation?”

Garamendi:

Well, we’ve been told not to be… in Congress. Speaker Boehner controls the agenda, controls the calendar for the House of Representatives, and he sent us home. The Democrats… voted not to go home, but to stay and work next week.”

 sequester schmequesterhouse of rep calendar Feb 2013

“We have a totally dysfunctional Congress”: Special Comment by my 72-year-old friend

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My impassioned 72-year-old  friend (who is now 75, but who’s counting?), who goes by the Twitter name @42bkdodgr, would like to share his feelings about Congressional Republican buffoons and their penchant for obstructionism. I am more than happy to oblige.

But first, a personal note from 42bkdodgr:

Many of you may wonder why I chose to use the “72 year old friend” as the introduction to my Special Comments. I selected the moniker so readers could see that from my age and life experiences I give a different perspective to the issues of today.

Dysfunctional

In the last few years,  I have written several Special Comments hoping the Republican moderates would regain control of the  Party and move it back to the middle. But alas, my hopes haven’t come true. In fact the Republican Party has moved further to the right.

In today’s Congress there are very few moderates, if any. They have either decided to leave Congress on their own, or lost a primary race to a teabagger candidate or to a more conservative candidate. So now we have Republicans in Congress who have more allegiance to an individual than to the oath they took when sworn into office.

During the two years the Republicans controlled the house, we saw them bring bills to the floor that covered abortions, religion, marriage, guns; but zero JOBS bills.  It seems a jobs bill is the least important item on their agenda, unless it’s their own.

President Obama and Democrats in Congress, are dealing with a group of people who believe the word “compromise” is a dirty word. As one teabagger congressman said,  “Compromise is when they come over to our side”.

I was hoping that after President Obama’s decisive victory in November things would change, but I was wrong again.

The first bill entered in the House by the 113th Congress came from Michele Bachmann, for the repeal of the Affordable Care Act (Obamacare), followed shortly by a  fetal personhood  bill cosponsored by Paul Ryan.

Both individuals have to know these bills will never be passed. The personhood bill has many legal issues that have to be addressed before it even can be brought to the floor for discussion.

So it appears it’s the same old thing with this new congress, everything related to religion and Women Rights, but for a JOBS bill, as they say in Brooklyn, “fugetboutit”. I also expect obstructionism will continue in the Senate for the next two years.

In addition, Republicans in the House also seem totally insensitive to the needs of the people. It took a public outcry from members of their own party to even pass a $9 billion assistance bill passed in the opening days of the 113th Congress, to help Americans suffering from Sandy Hurricane flood damage. This amount is only a portion of a $60 billion bill approved by the Senate for Sandy Relief funds.

The reason, given by the Republican leaders  of the House for not passing the full Relief Bill during the 112th Congress was that it wasn’t fully paid for. One has to wonder where these Republicans were when they passed unfunded bills for the Bush tax cuts, two wars, and a Medicare drug bill. The effect of those bills help create the debt level that Republicans suddenly seem so concerned about.

Now the Republicans are using a new tactic on President Obama: objecting to any name they hear who may be considered for a Cabinet position, before it’s even announced. This type of tactic has never been used in the past. It’s another type of obstructionism to prevent the Obama administration from functioning.

Now we await the fight over raising the debt ceiling to pay for the costs Congress already approved, while they try to hold the country hostage over how to cut spending.

The Republicans seem intent in driving their already poor approval rating down to zero. The Republican actions  have already and will only continue to create further divisions between the parties, while also creating a further  divide in the our nation.

We have a totally dysfunctional  Congress and I begin to wonder if these divides can ever be completely healed.

We need a Congress that works together, to settle their differences, regardless of who is president, or we will continue in our dysfunctional manner for many more years to come.

Many thanks again for another thorough, relevant piece, @42bkdodgr. You often say what many of us are thinking and feeling, and we thank you for your unique perspective.

My Way Boehner: “Instead of the House moving on Senate [tax] bill, Senate ought to move on the House bill.”

Nothing like being willing to compromise, eh Boehner? Or as he insists on calling it, “finding common ground.” And by compromise I mean stonewalling.

He’s pulling a Mitch McConnell and obstructing his little orange head off regarding President Obama’s insistence on extending the middle income tax rates that will expire in January.

The Boehner seems set on gridlock as usual, at least until he meets with the president on Friday.

Per LiveWire, Boehner dodged and weaved– as cowards are wont to do when they don’t want to give a direct answer to a direct question– when pressed on the tax cut matter:

“Well, I think instead of the House moving on the Senate bill, the Senate ought to move on the House bill…  We are not going to hurt our economy and make job creation more difficult, which is exactly what that plan will do… I look forward to my conversation beginning with the president on Friday.”

America first! Jobs jobs jobs! Republicans care about the middle class!