Obama Top Economic Adviser:Unemployment Still Painfully High
By Ashley Jones on June 1, 2010, 6:00 am Posted in Finance NewsIn spite of many saying that the economic stimulus does little to help the little guy, Chief Economic adviser to the President is saying that to suddenly stop, or wind down too fast, the stimulus packages that are currently in effect could have long lasting detrimental effects. She went on to state that she believes that relief for state and local governments and extensions for the long-term unemployment benefits should be continued also.
Unemployment Will Remain Higher The Longer Recovery Takes
Jobs for the 15.3 million unemployed aren’t, and can’t possibly come fast enough. This creates a high competition job market, and those that are employed or underemployed are watching their weekly paycheck get smaller. Even with the creation of over 290,000 jobs in April, a lot more openings are going to have to be posted with a rate of 9.9% to make a serious dent in the 15 million unemployed.
Fiscal Stimulus Programs Will Be Ending Next Year
At the Organization For Economic Cooperation And Development annual meeting Mrs. Romer said “It would be wrong to tighten fiscal policy immediately, as that would nip the economic recovery in the bud,” adding that “The American economy is clearly improving, but unemployment is still painfully high.” She claims that added stimulus plans are needed to further add to the fuel of growth. In her statement she claimed that there is a high risk of cyclical unemployment that could easily become a permanent fixture to the present unemployment rate. “Nothing would be more damaging than a protracted recession that brought about permanent high unemployment.”
Economically Speaking
In the most normal, healthy situation, economists say that at least 3% growth is required to keep up with the expanding population. When the recent recession is factored in at least 5% growth rate is needed to recover the unemployment rate 1% over the period of a year. To further clarify: In the 1980 recession the growth rate remained between 7%-9% for 18 months and it reduced the unemployment rate from 10.8% to 7.2%. The stimulus packages in effect now are hardly touching this level of growth.
Related posts:
- Unemployment Extension: We Need Jobs–Not Tax Hikes
- Economic Recovery And Unemployment: The Recovery Act Did Work
- Why The Unemployment Extension Is Needed For Economic Recovery
- Unemployment May Not Loosen It’s Hold Until 2012 According To Bernanke
- Tier V & COBRA Extension: Obama Helps Unemployed–Worst Is Over
I have just finished my tier 4 extention. Unemployment helped me alot looking for work. Its money not only used to pay bills and support our families, but funds needed just to drive from one job interview to another, or to apply for jobs. At this point i am thinking of cutting back on driving out to companies who are hiring, that want you to apply in person 20 miles from home, with no guarantees for a simple interview. To me this is a waste of time gas and tolls with no unemployment checks coming in. Employers rather hire someone who is activly working than someone who is unemployed. This is another reason why unemployment is still at a high rate. Whats next welfare?.. Dont think so.. Tier five needs to be passed asap. We need to keep americans spending, something i wont be doing anymore including millions who will be losing their unemployment benefits. Lets keep watching the stock market sore, and before you know it will crash.. This is common sense knowledge, and the only thing congress can do is argue over a tier five that we need to move on in this country.. The U.S. is all about money. As soon as you leave your door step we are reaching in our pockets for money.. PASS THE TIER 5.
Well where is the real news media coverage telling the real truth about no real jobs and the millions of unemployed workers with no jobs and no real hope of finding a job and losing there unemployment benefits…. tell the real truth they wont and cant because their all controlled. But IM sorry to say there’s a real smoke screen now which I hope gets stopped very soon and its real oil. But what about the real American people without jobs and losing everything without unemployment benefits to help put the food on the table and roof over our heads please help the American people without jobs like myself lets get the ball rolling lets stop money power and greed stand with me and fight to the end because I see a uprising like never before coming and it will be unstoppable like the domino effect one by one they will fall. I would say 99. Something percent all want to work. But look at the people with all there great jobs in government living fat even in every little town feel lucky now don’t let the animals into the streets to make fight and beg for dignity I see the real wolfs beware big packs. TELL THE REAL STORY AND THE REAL TRUTH!!! 584
• well just ask you this big question? Where did the MONEY GO and who got the big bonuses we don’t even know about not to count the ones that we do.780 billion and then 870 billion give or take a few billion
.I think they named it wrong it’s not bailout it was handout and that’s not what the American people are asking for is handout may be a hand up. And that’s what exactly what they deserve is what was paid in, in ones name under their SSN, for some as much as 30 to 40 years or more, and never collected a dime, and you can ask yourself the same question? Again where did the money go?
I guess when someone steels something they don’t want you to know who they are and for sure don’t ever plan on given it back even if they get caught. Ask yourself where are these crooks are they so hard to find because there right under our noses and I’m talking the handout bailout. And we ask this question? Does The Government Owe Unemployed Workers? ”
I would say about 99. Something percent, all want to work and to find a job. But they just aren’t there and lost their job at no fault of their own. I bet that if any body would like to give up there job and change places with one of the unemployed workers. You won’t see anybody.
The people with jobs beware you to could become one with out one. It’s easy to think and say things about people, but maybe if you go yourself, you will have a better insight to reality.
For all of you with good secure jobs with big mouths, I would invite you to come join us and see how you will feel or just live in one of the millions of unemployed people’s shoes. Because nothing is for sure accept you know the inevitable. So I would be warned to you not to curse yourself, and go spend your money, and help out the economy, and just feel lucky, you will think genius.
Ask yourself were did the money go bailouts, banks rip-offs; maid off is a small pimple on a frogs ass on a big log in a big lake, the smoke screen has cleared, we can all see now the buyoffs, payoffs the top regulators, CEO’S, de regulators, speculators, Greedy at the top present created this great problem, find them tract them hunt them down make them give back the money and we wont be worried about another little extension But you have to start at the top. BUT WHAT ABOUT THE AMERICIAN PEOPLE WITHOUT JOBS, GIVE US JOBS AND WE WILL WORK LIKE NEVER BEFORE! We shouldn’t be worried about getting help and who is really in control, ask yourself were did money go, and where is it really going. We all know it’s not hard to figure out, it’s the wealthiest,
Greediest few, and to bad this saying still is true, the man or men with gold make the rules, or maybe that was OIL! “But the power is still with the people” we want our money back the FEW stole it from us, it didn’t just disappear it’s somewhere in the world, and they’re ha ha laughing all the way to banks!
Watch out for the weasels that have turned into moles.
I have one big question what is the FAIR TRADE ACT, and who is it really fair for, but most of really know and the ones that don’t know need to. IT IS FOR THE WEALTHEST FEW, and boy where they really happy, and it is great for them, but I think they got the name wrong, It should be called the UNFAIR TRADE ACT and that is exactly what it is for the MANY Americans with no jobs. There’s your manufacturing jobs its really quite simple but ahhhh, let me think what should we do to get them back well how about nothing, but we’ve already done that. How about let’s try something new and what could that be!
What about that great tax reform of 1986 which gave the biggest tax breaks? To the wealthiest few, and then started taxing unemployment benefits who are mostly the many, at the bottom of tax earners. Which is still in effect today, the first 2400 dollars off the top for 2009 what a joke? How about that tax break back for when you’re down even that would help WE THE PEOPLE
Now with construction and housing failed, America’s real backbone we want our money back the FEW stole it from us, it didn’t just disappear its somewhere in the world and they’re ha ha laughing all the way to banks
Or maybe let me think how about GOLD let’s acquire as much as we can, have you ever wondered why they want your unwanted gold, just ponder that idea for one moment.
Well everybody knows that it’s what we think is worth the most in value as were concerned, as we know it, but what real good is it really, bling, bling. I guess you could stamp in god we trust on the bars and then what eat it. Follow the gold maybe with a big metal detector from space. It’s never left the planet yet, and has been causing problems ever since it was found thousands of years ago, and don’t forget GREED to the equation.
I have another great idea how about creating some real jobs in our own country, instead of selling and giving away our jobs to foreign lands abroad for the few rich to get richer and selling out our own people, of this great land.
If all of the special interest groups, lobbyists, greedy people in this world didn’t get bills and laws passed for themselves to proliferate our government we wouldn’t have all these problems like we have today. Maybe we all don’t know that since the beginning of time, as we know it. Money, power and greed have brought down the most powerful and strongest of nations of this world. Like the squirrels how money nuts do you need to hide, so let’s find the stolen nuts and share with the rest of animals in the forest. I think its time for we the people to awaken and take back this great country that are forefathers founded so many moons ago.
One little simple gesture, one wink of an eye, one stroke of a pen, one slight nod that’s all it will take to help out the millions of Americans. That’s all it would take from the wealthiest 3% that control our government. And I know nobody usually works for the poor. Let’s get the ball rolling again without the big balloons we all learn from our mistakes. Nobody should be above the law
I have no problem with humanity and helping out the rest of the world. I do have a problem with deceit and lies to what’s really going on, the American people are mushrooms kept in the dark with only one media that control our senses and the biggest heists in recorded times has just happened!
There are enough drops in the big bucket to go around, nobody wants to talk about all of eastern Europeans that just came to this country in the last few years and get everything for free, money, houses, food, no taxes for 5 years, $150.000 dollar vouchers from department of agriculture for homes that if long as they don’t default or sell their home for 10 years the money is free. Here’s one of the best ones here’s a real good one $ 45.000 dollars free for some, right when they enter the country this all true, and take your jobs. The jobs that aren’t there! I dare you if you can, to do your investigative research, it shouldn’t be real hard to find out. I think you should start with the loop holes refugee status or the churches, that should get you started. And the list is so long to really list, but some of you are worried about the Mexicans and they where already here and I guarantee they don’t get anything. You would be amassed what the Russians and many other groups, get from their far away land when they set foot in America. They don’t want to talk about this tax burden on the taxpayers I know we are the “quote” “the melting pot”, but lets get real why should one group or groups get things that others do not get isn’t this land supposed to be the land of equal opportunity without discrimination, we all know our past witch wasn’t good, shouldn’t we have learned from our mistakes. Let’s TELL THE REAL TRUTH I dare 20/20, 60 minutes CNN or any other news group to follow the real story, it will never happen. Let’s put the real truth on the table, tell the real story, it won’t happen because you are all controlled just like all of us and you will think genius, but what about,
“WE THE PEOPLE”
The people with jobs beware you to could become one with out one. It’s easy to think and say things about people, but maybe if you go yourself, you will have a better insight to reality.
Look at the controlled media saying more jobs have been created and unemployment is at 9, 7 who are they really trying to fool well we all know it’s the American public. When we know when we count every body that doesn’t have a job it would be about 17.5 it all sounds good but its not reality. And their all looking for a job if it true shows us exactly where these jobs are even if it were true it wouldn’t go far with the15 to 18 million or more people without jobs. Just more media hype does even the media believe the propaganda. Their so post to report but who pays there paychecks, and who are they owned by its kind of like the good old boys once you are one you look and see nothing and look the other way because you don’t want to jeopardize your livelihood. As long as you’re doing well, just another way of trying to hide the big mistakes made on Wall Street and the banks with the government the buyoffs, payoffs the top regulators CEO’S de regulators, speculators and they don’t want to accept or admit the real truth. Don’t even mention the bailouts!
This will all be at to burn the bridge before you can cross it so to speak, before the big Unemployed Workers uprising in this great country because they foresee it coming, and they have time and money to try to stop it, but they won’t be able to deny it when where all on the streets in major protest and in there front yards and backyards with tents. I think nobody wants a handout but maybe a hand up. I still see a lot of pot holes out their lets all fix them. propaganda for the next election in November. I wonder if they think that those 18 million will make a difference in the election if the let them starve and out in streets not to happy to be understated. But my prediction is they will push for Wall Street hand outs and put the American people with no jobs on the back burner