Unemployment is up to 9.6%

[MadHound]

"The unemployment rate rose in August for the first time in four months as weak hiring by private employers wasn't enough to keep pace with a large increase in the number of people looking for work.

The Labor Department says companies added a net total 67,000 new jobs last month, down from July's upwardly revised total of 107,000. Wall Street analysts expected a smaller gain, according to Thomson Reuters."

<http://news.yahoo.com/s/ap/20100903/ap_on_bi_go_ec_fi/us_economy_33>

When will the Democrats in Washington, including the Obama administration, recognize that it is all about jobs, and take action to correct the problem? Yes, there are rumors of some sort of stimulus bill, but apparently it is going to consist mostly of more tax cuts, the least effective form of economic stimulus.

What is needed, right now, is a WPA style jobs creation program. If the Dems would ram such a program through Congress the first thing when the get back from vacation, it would probably have a positive effect on the November election, and would help out the people of this country immensely.

[scheming daemons]

1. There's one tax cut that is very stimulative and helps the middle class the most:

payroll tax holiday.


Everyone of us... rich or poor... pays into payroll taxes (social security and medicare). But only the rich typically get a "payroll tax holiday" (when they hit the maximum contribution amount).


This would be a big chunk of change in the hands of the average worker... and the average worker typically spends it.



In any case... this jobs report was much better than expected, and it means we avoided a double-dip recession.

7th straight month of private sector job increases. July was upwardly revised as well.

[MadHound]

3. Yet study after study has shown that tax cuts are the least effective stimulus

Including a payroll tax holiday. Ooo, one month of no payroll taxes, and then *poof* that money is gone, spent, and the economy is still stagnant. Didn't we learn our lesson from those tax rebates that Bush sent out?

And frankly, the private sector job increase was about half of what was needed to keep up with the growth of the labor force. You need at least 125,000 jobs/month to keep pace with the growth of the labor force in this country.

You are trying to defend the indefensible again. The fact of the matter is that more people are unemployed, and as long as we keep these high rates of unemployment, our economy is not going to pull out of this morass.

[scheming daemons]

4. I agree... tax cuts are the least stimulative form of deficit spending

But not all tax cuts are equally as bad.


At least a payroll tax holidays go to the poor and middle class disproportionately (for a change).

Which is why the Republicans would fight it.

[MadHound]

5. Then since this is the least effective form of stimulus,

Let us abandon it and opt for a WPA style jobs program instead? We do, after all, have large majorities in Congress and control the White House. Yeah, yeah, I know, I know, the Dems don't have sixty votes in the Senate, but gee, wouldn't it be nice if the Dems actually fought for something for a change? Force the 'Pugs to do an actual talk all night, pee in a bottle filibuster over a jobs program. You don't think that lots of political hay could be made out of that one? And gee, if Dems are seen as actually fighting for the people, don't you think that would help out elections in November? Wow, what a concept.

[scheming daemons]

6. What you propose would be best... but it would also not pass

...not through this congress less than two months before an election.


The time for it was when we did the initial Stimulus bill. The problem is... we barely were able to get the stimulus that we DID get done through the congress.


You're arguing for what we should do.
I'm arguing for what is possible.


We're not on opposite sides, MadHound.

I'm just a realist about what can actually get done in the current environment. I know it sucks, but it's where we're at.

[MadHound]

9. No, you're a pessimist, you argue the limitations of what our government can do,

When it has been shown time and again that it can do more.

Move such a job program onto the fact track of legislation, it can be on the floor and through the House in a couple of weeks. This allows weeks for the Senate to pass it through, and again, if the 'Pugs are obstructionists, fine, fight them, force them into a real live filibuster. Hell, it might actually work better if this coincides with the fall election. Obama and the Dems can just hammer the 'Pugs for obstructing a jobs program, an action that would resonate with the people.

[scheming daemons]

11. About our current congress... you're right... I'm very pessimistic about them...

...and it will only get worse if the GOP takes over.

[MadHound]

13. Well then, all the more reason the Congress needs to put on a massive fight

One that is for the benefit of the voters. What better way to show that Democrats are fighting for the people than by actually fighting for the people?

[jefferson_dem]

14. Screaming and stomping feet is not a coherent political strategy that advances *progress*.

[bvar22]

18. JOBS!!!...Not Tax Cuts!

"Strong and successful presidents (meaning those who get what they want - whether that happens to be good for the country or not) do not accept "the best deal on the table". They take out their carpentry tools and the build the goddam piece of furniture themselves. Strong and successful presidents do not get dictated to by the political environment. They reshape the environment into one that is conducive to their political aspirations."

http://www.commondreams.org/view/2010/07/17

"If we don't fight hard enough for the things we stand for,
at some point we have to recognize that we don't really stand for them."
--- Paul Wellstone



JOBS!!!
Not Tax Cuts.

You want stimulus?
Put the MONEY directly into the hands of people that are hurting.
They WILL spend it.
The biggest problem we have today with "stimulus" is that Big Boxes suck the money OUT of local economies and give it to the Owners in one quick step. A dollar spent at WalMart does not circulate in the local economy.
Before we will see effective stimulus, we will need to see a return to local economies.
Mom & Pop MUST be given the chance to compete with Big Boxes on a level playing field.

[DrDan]

2. whew - tax cuts vs more stimulus spending

at least the wealthy can now rest easy

[jefferson_dem]

7. Not great but better than expected. Private sector added 67k, 8th straight month of growth.

By Neil Shah
The world’s financial markets clearly weren’t expecting so cheery an August U.S. jobs report.

Stock futures are surging 1% higher after the U.S. government said non-farm payrolls declined by 54,000 instead of the 110,000 figure economists were expecting. The unemployment rate edged up to 9.6%, as expected, but investors were surprised by private-sector payrolls, which jumped by 67,000, versus the 28,000 expected.

http://blogs.wsj.com/marketbeat/2010/09/03/holy-cow-maybe-the-economys-not-in-the-gutter/?mod=e2tw

[MadHound]

10. Yes, but again, overall jobs dropped

The private sector job gain fell far short of the number needed to keep up with labor force growth, approximately 125,000 jobs per month.

Despite the attempts at spin, this is bad news, bad for the administration, bad for the Dems, but most importantly bad for the people of this country.

[jefferson_dem]

12. "Despite the attempts at spin...bad...bad...bad."

Uh huh.

[midnight]

8. I happen to agree it is all about the jobs.

[w8liftinglady]

15. Texas unemployment rate is 8.5...but here's why

we have the highest rate of uninsured citizens under the age of 64 in the nation.
http://www.texmed.org/Template.aspx?id=5519

Many employers hire their staff at less than 36 hours/pay period to avoid paying benefits

Texas minimum wage is $7.25 / hr-which is adhered to by many service industries.

Texas waiters make $2.10/hr with tips...no benefits regardless of hours work.


See-there Are ways to make this thing work in your favor.

[TBF]

16. And that's just the official number -

we all know it's at least double that.

ETA - here is a story I found claiming that the real unemployment rate is 18%: http://www.theskanner.com/article/view/id/13217

[MadHound]

17. Oh yeah, I know that

Unemployment numbers have become so badly massaged over the past thirty plus years that they have gotten to the point where they are meaningless in many cases.

[glitch]

19. 67k in private sector job gains. What's the number on public sector job losses, I wonder? nt

[WI_DEM]

20. despite the rise it's actually a much more positive job report than expected.