Posts Tagged ‘economy’

Congress Gives the Jobless a Christmas Gift

December 28, 2013

Congress Gives the Jobless a Christmas Gift

“More than 1 million Americans are bracing for a harrowing, post-Christmas jolt as extended federal unemployment benefits come to a sudden halt this weekend, with potentially significant implications for the recovering U.S. economy. A tense political battle likely looms when Congress reconvenes in the new, midterm election year.”

– “1.3 Million Losing Unemployment Benefits Saturday,” Bradley Klapper, Associated Press

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Price of the Tea Party Tantrum

October 17, 2013

Price of the Tea Party Tantrum

The Tea Party Republicans in Congress shut down the United States Government for over two weeks. They did it to protest … something. In the end, it gained them … nothing. Federal employees will be paid retroactively, but government contractors and retailers serving public employees and their families had no business this month. Of course, the salaries of cranky congressmen continued uninterrupted.

The shutdown is over, at least for now, but what has this Republican hissy fit cost America? The total tab won’t be complete for another couple of months, but Standard & Poor’s puts the loss to the economy at $24 billion, $1.6 billion a day.

More:

“Gridlock Has Cost U.S. Billions, and the Meter Is Still Running,” Annie Lowery, Nathaniel Popper, and Nelson D. Schwartz, New York Times

“Was the Point Republicans Made in the Shutdown Worth the Price?’ Gerald F. Seib, Wall Street Journal

“What You Can Get For The Price Of A Shutdown,” Bryce Covert, Think Progress

“House Republicans Hold Hearing on Why Their Shutdown Shut Things Down,” Tim Murphy, Mother Jones

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Image by Mike Licht. Download a copy here. Creative Commons license; credit Mike Licht, NotionsCapital.com

Comments are welcome if they are on-topic, substantive, concise, and not boring or obscene. Comments may be edited for clarity and length.

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165,000 New Jobs In April. Maybe.

May 5, 2013

165,000 New Jobs in April. Maybe.

The Bureau of Labor Statistics announced employment figures for April 2013: 165,000 new jobs. No one knows exactly what that means, but one thing is certain: This number will certainly change. Does that indicate government ineptitude or political manipulation? No.

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A Living Wage for All Working Americans

February 15, 2013

“Tonight, let’s declare that in the wealthiest nation on Earth, no one who works full-time should have to live in poverty.” Barack Obama, State of the Union Address, February 12, 2013

“I’ve been dealing with the minimum wage issue for the last 28 years that I’ve been in elected office, and when you raise the price of employment, guess what happens? You get less of it.” House Speaker John Boehner (R, OH-8).

“Economists: A $9 minimum wage won’t hurt jobs,” Natasha Lennard, Salon

“A history of the minimum wage since 1938 [chart],” Annalyn Kurtz, CNN Money

“Obama proposes $9/hour minimum wage. OK, says business owner,” Elizabeth Fuller-Wright, Christian Science Monitor

“40% Of Americans Now Make Less Than 1968 Minimum Wage,”  Dave Johnson, Campaign for America’s Future

“Minimum Wage 101,” Mike Konczal, The American Prospect

“Minimum wage a bad idea? Ask execs who pay even more,” Charles Wilbanks and Alain Sherter, CBS News

“Minimum Wage Battle May Wound Republicans,” Steven T. Dennis, Roll Call

“Who would be affected by President Obama’s proposed minimum wage increase?” Natilie Sabadish and Doug Hall, Economic Policy Institute

“Why isn’t raising the minimum wage considered a no-brainer?” Robert Reich, Salon

“If You Notice That $9 Is More Than $7.25, Are You a Communist?” Kris Benson, Wonkette

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Healthcare Reform & Jobs

November 12, 2012

Healthcare Reform & Jobs

Will “ObamaCare” kill jobs? The new Affordable Care Act healthcare reform law is modeled after the Massachusetts healthcare law, “RomneyCare,” and the Urban Institute recently studied the situation there. So has RomneyCare killed jobs in Massachusetts?

No.

“Will the Affordable Care Act Be a Job Killer?” Lisa Dubay, John Holahan, Sharon K. Long, and Emily Lawton, Urban Institute Health Policy Center

But beware. ObamaCare will affect your job if your boss is a lunatic, right-wing, GOP ideologue:

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GOP ‘Cranks & Crazies’

September 21, 2012

GOP 'Cranks & Crazies'

The Republican Tea Party loons of the U.S. Congress have become world famous, and no wonder, since their capture of the GOP endangers the entire global economy. The most recent observation of this was by Australia’s deputy PM and finance minister, Wayne Swan:

“Let’s be blunt and acknowledge the biggest threat to the world’s biggest economy are the cranks and crazies that have taken over a part of the Republican Party. Global markets are nervously watching the positioning of hardline elements of the Republican Party for signs that they will dangerously block reasonable attempts at compromise.”

“Swan: GOP ‘Cranks and Crazies’ Threaten Growth,” Edward Johnson, Businessweek

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Ain’t Got No Home

August 24, 2012

Ain't Got No Home

The ProPublica team has researched the causes of the foreclosure crisis. You can read about it here, but there’s a video that explains it all, and you can dance to it:

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Mexican Immigration to USA: Net-Zero

April 10, 2012

“The population of undocumented immigrants in the US fell from 12 million to approximately 11 million during the height of the financial crisis (2008-09) …. And since then, Mexicans without documents aren’t migrating at rates to replace the loss, creating a net zero balance for the first time in 50 years.”

“Home again in Mexico: Illegal immigration hits net zero,” Sara Miller Llana, Christian Science Monitor (citing Douglas Massey, Mexican Migration Project, Princeton University)

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Image by Mike Licht. Download a copy here. Creative Commons license; credit Mike Licht, NotionsCapital.com

Comments are welcome if they are on-topic, substantive, concise, and not boring or obscene. Comments may be edited for clarity and length.

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What They Want for Christmas: Jobs

December 12, 2011

What They Want for Christmas: Jobs

Excerpts from “The Book of Jobs,” Joseph E. Stiglitz, Vanity Fair:

“There are 6.6 million fewer jobs in the United States than there were four years ago. Some 23 million Americans who would like to work full-time cannot get a job. Almost half of those who are unemployed have been unemployed long-term. Wages are falling—the real income of a typical American household is now below the level it was in 1997.”

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Small Business Saturday: Shop Local

November 26, 2011

Small Business Saturday: Shop Local

Yesterday, on “Black Friday,” millions of Americans spent billions of dollars with the multi-national corporations that sell imported products in U.S. shopping malls. Some resisted this retail feeding frenzy and bought nothing. Today people from both camps will buy local, shopping with neighborhood shops on Small Business Saturday.

$100 spent with local businesses returns $68 to the community vs. $43 spent at big box stores. So think outside the big box and shop local.

More:

“Gift buyers like local mom-and-pop shops’ unique choices,” Erin Kutz and Jayne O’Donnell, USA Today

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Image (“Small Business Saturday, after Edward Hopper”) by Mike Licht. Download a copy here. Creative Commons license; credit Mike Licht, NotionsCapital.com

Comments are welcome if they are on-topic, substantive, concise, and not boring or obscene. Comments may be edited for clarity and length.

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