High unemployment looming for next decade

Discussion in 'Politics' started by oreo, Dec 27, 2009.

  1. oreo
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    oreo Gold Member Supporting Member

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    WASHINGTON - Call it the Terrible Teens.

    The decade ahead could be a brutal one for America's unemployed — and for people with jobs hoping for pay raises.

    At best, it could take until the middle of the decade for the nation to generate enough jobs to drive down the unemployment rate to a normal 5 or 6 percent and keep it there. At worst, that won't happen until much later — perhaps not until the next decade.

    The deepest and most enduring recession since the 1930s has battered America's work force.

    The unemployed number 15.4 million. The jobless rate is 10 percent. More than 7 million jobs have vanished. People out of work at least six months number a record 5.9 million. And household income, adjusted for inflation, has shrunk in the past decade.

    Most economists say it could take at least until 2015 for the unemployment rate to drop down to a historically more normal 5.5 percent. And with the job market likely to stay weak, some also foresee another decade of wage stagnation.

    Even though the economy will likely keep growing, the pace is expected to be plodding. That will make employers reluctant to hire. Further contributing to high unemployment is the likelihood of more people competing for jobs, baby boomers delaying retirement and interest rates edging higher.

    A decade of high unemployment is looming - Outlook 2010- msnbc.com

    It's apparent that the 787 billion dollar stimulus bill has done nothing to create new jobs in this country. Now we're on stimulus bill jr.--which only means in the working persons terms that their unemployment checks have been extended again.

    In my area--we are currently at 7.5% unemployment--(lower than the national average) & we have tent cities growing up around our creeks & streams. Each day there is another 1 or two tents that are families with small children. It's very cold out. I have never seen this before in my over 55 years. And I have survived many recessions.

    This again shows that massive government spending does not equate to private sector job growth.

    "When government is big enough to give you everything you want, it's also big enough to take everything you have." Thomas Jefferson
     
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  2. Xenophon
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    Xenophon Gone and forgotten

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    Are you saying all is not well in barryland?
     
  3. MajikMyst
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    MajikMyst Honorary Non-member

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    You know.. Projections are assholes.. Everyone has one and they stink.. I can't tell you how many times projections haved been wrong and not by small margins..

    But that is ok.. You be a dumbshit and declare the stimulus a failure cause you want to beat on Obama some more.. Let's not forget that Bush did nothing for unemployment.. He gave billions to the banks who then promptly gave out bonuses.. Way to go Bush!! Let's not forget that it was Bush that caused this issue in the first place.. We most definately didn't have an economy problem when he took office.. Despite a terrorist attack and 2 wars, he still pushed for his tax cuts to the ricth..

    Speaking of wars?? How come Bush never put the Iraq war on the national budget?? Talk about deficit spending.. An entire war on deficit spending.. Not to mention a perscription drug plan.. Also on deficit spending..

    How bout you discuss all that?? How bout you take responsibility for that?? Before you demand anything from Obama.. You need to check your own record..
     
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    Last edited: Dec 28, 2009
  4. Lumpy 1
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    Lumpy 1 Diamond Member Supporting Member

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    One thing about predictions over the past 5 years, things have turned out worse than predicted.
     
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  5. MajikMyst
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    MajikMyst Honorary Non-member

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    That is true.. But that was with Bush in the white house.. If I am not mistaken.. Wasn't it Sept. or Oct. that less people lost their jobs than progected and the unemployment when down by .3 points or something.. My month and figure might be off.. But it was recent.. In either case it was unprogected good news..

    Edit.. Ok.. It was August..

    http://www.usnews.com/blogs/erbe/2009/12/04/unemployment-drop-is-good-news-for-obama-democrats.html
     
    Last edited: Dec 28, 2009
  6. Lumpy 1
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    Lumpy 1 Diamond Member Supporting Member

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    From your article

    The economic stimulus package created or saved between 600,000 and 1.6 million jobs, the Congressional Budget Office announced Monday.

    I believe this has pretty well been been debunked.

    I find this blame game tiresome.
    You blame Bush, I blame Democratic Party control of Congress for the past 3 years, you blame Bush and Republicans, I blame Obama and Democrats...etc.. Yawn

    Either way we're screwed...
     
  7. Douger
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    Douger BANNED

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    These people still don't get it.
    THE MOVIE IS OVER
    You now live in a third world hellhole that will only get worse and worse.
    Face reality !
    There can never be an "economic recovery" The only thing you produce is brainwashed , uneducated ,idiots. Look at the kids ! Tell them to start a lawnmower or change the oil in your car.Get your daughter to hem your pants or cut up a whole chicken.
    You live in an Idiocracy !
    You are a "consumer" nation.What little you do produce gets shipped off to the rest of the world by big corporations.DRILLDRILLDRILL. China needs it !

    Read this..or get a foreigner to read it to you..... so you'll understand it better.This is just one tiny aspect of your economy even though the numbers are big.
    It links to a page. Download the .pdf. It's fairly large.
    Fish Story — Food & Water Watch
     
    Last edited: Dec 28, 2009
  8. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    High unemployment means that George Bush will be blamed for at least the next ten years

    It sucks being a republican
     
  9. Claudette
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    Claudette Gold Member

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    I think it will suck being a Democrat also. Misery loves company.
     
  10. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    If employment does not recover all we have to do is go to the charts and see where our employment collapsed. Hint: it did not collapse under Clinton

    Bush took a strong economy and left us with the worst Recession in 70 years. If the Dems can't fix the disaster the GOP created...what makes you think people will want the Republicans back......especially if they are presenting the same failed policies
     

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