- Feed Me
- Sign Up
- How To Get Your Book Signed
- Pub of Fame
- Trail Mix Neighborhoods
- Favorite Love Songs
- Trail Mix Boss
- Trail Mix Diva
- Winter Solstice
- Anniversary Video
As politicians dithered for months and brought forth trillions more in debt, the nation’s so-called recovery weakened.
A telling sign emerged in today’s announcement that consumers, who fuel 70 percent of our economic activity, cut their spending last month for the first time in nearly two years, according to the Commerce Department.
Incomes grew by the smallest amount in nine months. Overall economic growth hovers around a measly 1 percent. Experts blame the shaky job market for declining consumer confidence.
This was the news that drove Wall Street this morning, not the debt deal’s passage. When the new consumer spending numbers came out the Dow plunged more than 100 points.
The massive distraction of a phony debt ceiling fight is over, and the reality of a lousy economy is still here. If new unemployment numbers coming out Friday are as weak as other factors, more economists will join those who are trimming their forecasts.
Jobs, a word that went missing in Washington these past months, will now make a comeback in talking points. But having locked themselves into an obsession with deficits it’s tough to see how President Obama and congressional leaders can do much more than talk about getting Americans back to work.
Our Sputtering Economy, By the Numbers
* Since January 2008, 8.7 million jobs have been lost while 1.8 were recovered;
* The unemployment rate has been around 9 percent for 28 months,
* 44.4% of unemployed Americans are long-term unemployed,
* There are 4.98 workers for every job opening available,
* Percentage of Americans’ total personal income that comes from federal funds: almost 20%,
* 3.8 million Americans are relying on federal unemployment benefits, with benefits lasting up to 99 weeks and federal aid funding up to 73 of those weeks,
* Length of time people will be able to receive unemployment benefits if they lose their job after July 1, 2011: 20-26 weeks,
* Amount of stimulus money left to be spent: $122.8 billion of the original $787 billion.
Now on The Trailwhatever happened to the notion that "west" meant everything west of the missis...Lois Lerner was appointed to her first post at the IRS by George W Bush I tho...That wimp Issa wouldn't make a pimple on Joe McCarthy's ass....In post-War Cleveland I think we prided ourselves as being part of the Industria...Just say no to Monsanto...I think Dennis Rodman should tell Lil' Kim to get on the ban Monsanto bandwagon...but not HERE, by god......and we still have Chuck Toad!...Monsanto Has Been Removed And Banned By: Austria, Bulgaria, Germany, Greece, Hun...Hungary is burning Monsanto cornfields....Midwest.....because SOMEBODY'S gotta live there..........This is so cool www.cropmobster.com helping end food waste and keeping farm...People from Ohia think they live in the mid-west...XR, LOL. WV might be midwestern - but I can't recall the last time I had dinner...Although President Barack Obama supports the measure, the White House has also i...Immigration Reform Amendment For Gay Couples Withdrawn Elise Foley The gang ...
What’s On the Spit? (Recent Posts)
Our Sorry Past (Archive)
Your Starving Author
Our Spam Department