Unemployment doubling
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Unemployment doubling
by Aaron Thu Jan 29, 2009 10:36 am
But I thought democrats were going to save us all...
Jobless rate may double by 2010
A new analysis warns that more than 77,000 West Virginians could be out of work by the end of the year.
By The Associated Press
CHARLESTON, W.Va. - A new analysis warns that more than 77,000 West Virginians could be out of work by the end of the year.
The Mountain State's unemployment rate will soar to between 8.7 percent and 9.5 percent by the final three months of 2009, according Moody's Economy.com. The high end of the range would be twice the level seen during that same time last year. West Virginia has not suffered such high unemployment since the early 1990s.
The state saw its jobless rate rise from 4.6 percent to 4.9 percent last month, as adjusted for seasonal hiring trends. Its civilian work force averaged 809,775 in 2008, suggesting the rates projected by Moody's Economy.com could equal between 70,900 and 77,250 West Virginians seeking unemployment benefits by the fourth quarter. The ranks of such residents reached 39,000 last month.
The forecast released this week predicts possible double-digit unemployment for 10 states, including neighboring Ohio and Kentucky. But Maryland, Pennsylvania and Virginia all fare better than West Virginia in the analysis. It also sees the national rate nearing 9 percent, or nearly 5 million people, by the end of 2010. The U.S. rate hit 7.2 percent in December.
The chief economist for the credit rating agency offshoot says job losses will be even worse without the massive stimulus measure now before Congress.
source
Aaron- Number of posts : 9841
Age : 58
Location : Putnam County for now
Registration date : 2007-12-28
Re: Unemployment doubling
by sodbuster Thu Jan 29, 2009 10:54 am
"The chief economist for the credit rating agency offshoot says job losses will be even worse without the massive stimulus measure now before Congress."
You are right, Bush sure left a mess.
Now we will have to dig ourselves out.
And so far it appears every republican in Congress will fight progress every step of the way.
You are right, Bush sure left a mess.
Now we will have to dig ourselves out.
And so far it appears every republican in Congress will fight progress every step of the way.
sodbuster- Number of posts : 1890
Location : wv
Registration date : 2008-09-05
Re: Unemployment doubling
by Aaron Thu Jan 29, 2009 10:58 am
Seems to me that if I recall correctly, AND I DO, that the unemployment rate and the economy were both chugging right along at the end of 2006 and then Democrats took over congress in January 2007 and it's been all down hill since.
As for the stimulus, it's not going to create jobs and everyone who doesn't have their head buried in the sand knows that.
As for the stimulus, it's not going to create jobs and everyone who doesn't have their head buried in the sand knows that.
Aaron- Number of posts : 9841
Age : 58
Location : Putnam County for now
Registration date : 2007-12-28
Re: Unemployment doubling
by ohio county Thu Jan 29, 2009 11:17 am
And so far it appears every republican in Congress will fight progress every step of the way.
I sure hope so.
ohio county- Moderator
- Number of posts : 3207
Location : Wheeling
Registration date : 2007-12-28
Re: Unemployment doubling
by sodbuster Thu Jan 29, 2009 11:41 am
I realize the republicans are heavily invested in seeing Obama fail.
But it's still a sad thing.
But it's still a sad thing.
sodbuster- Number of posts : 1890
Location : wv
Registration date : 2008-09-05
Re: Unemployment doubling
by ohio county Thu Jan 29, 2009 11:50 am
I don't care if Obama fails or not. I don't want to see the country fail. Loading it up with debt will hasten our failure. I guess you believe when Carter Zerbe tells you but not when I do.
ohio county- Moderator
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Location : Wheeling
Registration date : 2007-12-28
Re: Unemployment doubling
by sodbuster Thu Jan 29, 2009 12:04 pm
Well it just seems to me that thetightfisted republicans dont mind when reagan runs up record debt but they start hyperventilating when Obama wants to inject an economic stimulus to help us pull out of a republican recession/potential depression.
sodbuster- Number of posts : 1890
Location : wv
Registration date : 2008-09-05
Re: Unemployment doubling
by Aaron Thu Jan 29, 2009 12:28 pm
Reagan's debt was basically caused primarily by two actions.
First, he increased military spending because the state of the military, after 50 years of democratic rule, 10 years in Vietnam and 4 years of Carter, was in horrendous
When I joined the Army in 84, we were still operating World War 2 equipment and paying our service men and women poverty wages.
If a parent treated a child in the manner democrats did our military, they would be buried under the jail and what Reagan did was correct years of democratic negligence and indifference towards our military.
40 years after FDR's unconstitutional new deal programs were enacted, we were still taxing the wealthy an unfair rate of nearly $.70 out of every dollar earned just to pay for those unconstitutional entitlement programs.
So Reagan cut taxes from an inconceivable high of 69% rate to more reasonable 35% (I believe) rate on the wealthy, which should have been done years before he took office.
Yes, Reagan increased our national debt but considering he was countering 50 years of democratic rule, he had to.
As will the President elected in 2040 who is task with righting the wrongs currently being imposed on Americans but the current democratic leadership.
First, he increased military spending because the state of the military, after 50 years of democratic rule, 10 years in Vietnam and 4 years of Carter, was in horrendous
When I joined the Army in 84, we were still operating World War 2 equipment and paying our service men and women poverty wages.
If a parent treated a child in the manner democrats did our military, they would be buried under the jail and what Reagan did was correct years of democratic negligence and indifference towards our military.
40 years after FDR's unconstitutional new deal programs were enacted, we were still taxing the wealthy an unfair rate of nearly $.70 out of every dollar earned just to pay for those unconstitutional entitlement programs.
So Reagan cut taxes from an inconceivable high of 69% rate to more reasonable 35% (I believe) rate on the wealthy, which should have been done years before he took office.
Yes, Reagan increased our national debt but considering he was countering 50 years of democratic rule, he had to.
As will the President elected in 2040 who is task with righting the wrongs currently being imposed on Americans but the current democratic leadership.
Aaron- Number of posts : 9841
Age : 58
Location : Putnam County for now
Registration date : 2007-12-28
Re: Unemployment doubling
by ohio county Thu Jan 29, 2009 12:43 pm
Well it just seems to me that thetightfisted republicans dont mind when reagan runs up record debt but they start hyperventilating when Obama wants to inject an economic stimulus to help us pull out of a republican recession/potential depression.
Is this what passes for discourse on MyDD? How charming! Was it wrong for Reagan to run up deficits? Why is it right for Obama to? How do you presume to get away with what you're accusing me of? Hypocrite much?
Last edited by ohio county on Thu Jan 29, 2009 1:22 pm; edited 1 time in total
ohio county- Moderator
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Registration date : 2007-12-28
Re: Unemployment doubling
by sodbuster Thu Jan 29, 2009 1:07 pm
http://wvgazette.com/News/200901270569
You are comparing apples and oranges.
Reagan's deficits were to give massive tax cuts to the wealthy and purchase un-needed military hardware, etc.
Obama's is designed to rescue an economy in shambles and rebuild our infrastructure and find new ways to generate energy, etc.
Much of which will benefit wv.
You are comparing apples and oranges.
Reagan's deficits were to give massive tax cuts to the wealthy and purchase un-needed military hardware, etc.
Obama's is designed to rescue an economy in shambles and rebuild our infrastructure and find new ways to generate energy, etc.
Much of which will benefit wv.
sodbuster- Number of posts : 1890
Location : wv
Registration date : 2008-09-05
Re: Unemployment doubling
by ohio county Thu Jan 29, 2009 1:19 pm
You are comparing apples and oranges. Per the Congressional Budget Office, only 8% of the stimulus will be spent in 2009. By the time this vote-buying scheme gets to anybody the recession will be over. Some stimulus.
From CBO, here is the time path of estimated outlays on government purchases under the proposed stimulus bill:
2009: 29.0
2010: 115.8
2011: 105.5
2012: 53.6
2013: 26.5
2014: 13.0
2015: 6.9
2016: 3.0
2017: 1.6
2018: 0.9
2019:0.4
Total: $356.0 billion
So only 8 percent of this spending occurs in budget year 2009, and only 41 percent occurs in first two years. Note that spending on transfer payments and tax relief occurs much faster than this.
http://gregmankiw.blogspot.com/2009/01/cbo-on-fiscal-policy-lags.html
Learned and wise though the Charleston Gazette might be, I think the opinions of Dr. Mankiw and the CBO might be more germaine to our discussion.
From CBO, here is the time path of estimated outlays on government purchases under the proposed stimulus bill:
2009: 29.0
2010: 115.8
2011: 105.5
2012: 53.6
2013: 26.5
2014: 13.0
2015: 6.9
2016: 3.0
2017: 1.6
2018: 0.9
2019:0.4
Total: $356.0 billion
So only 8 percent of this spending occurs in budget year 2009, and only 41 percent occurs in first two years. Note that spending on transfer payments and tax relief occurs much faster than this.
http://gregmankiw.blogspot.com/2009/01/cbo-on-fiscal-policy-lags.html
Learned and wise though the Charleston Gazette might be, I think the opinions of Dr. Mankiw and the CBO might be more germaine to our discussion.
ohio county- Moderator
- Number of posts : 3207
Location : Wheeling
Registration date : 2007-12-28
Re: Unemployment doubling
by Aaron Thu Jan 29, 2009 2:13 pm
sodbuster wrote:http://wvgazette.com/News/200901270569
You are comparing apples and oranges.
Reagan's deficits were to give massive tax cuts to the wealthy and purchase un-needed military hardware, etc.
Obama's is designed to rescue an economy in shambles and rebuild our infrastructure and find new ways to generate energy, etc.
Much of which will benefit wv.
Do you actually belive all the stuff you post?
Aaron- Number of posts : 9841
Age : 58
Location : Putnam County for now
Registration date : 2007-12-28
Re: Unemployment doubling
by sodbuster Thu Jan 29, 2009 2:22 pm
Aaron just like most others, my posts are an amalgamation of fact and opinion.
sodbuster- Number of posts : 1890
Location : wv
Registration date : 2008-09-05
Re: Unemployment doubling
by Aaron Thu Jan 29, 2009 2:33 pm
If you could find a way to bag your post, especially those resembling the one above, you could make millions in the fertilizer business.
I was in the military in 84 driving 1930’s and 40’s models deuce and a half’s and 5/10 ton trucks with steel slabs for seats and canvas tops and no heaters and jeeps that barely ran.
We used manila folders for engine gaskets and cannibalized one vehicle to keep two running and that was in the transportation industry alone.
Artillery, Infantry, Air Cavalry and every other combat and support unit had many of the same problems and were often times much worse off then we were.
If a soldier was married, he automatically qualified for HUD housing and food stamps and many with children received medical cards.
People complain because our soldiers aren’t issued enough body armor and vehicles are lacking on under belly armor.
The simple truth is our military is decades advanced compared to what it was when Ronald Reagan raised his right hand.
Un-needed military hardware my ass. Ronald Reagan might have done a ton of things wrong but his rescuing our military from 50 years of democratic destruction wasn’t one of them and if you think otherwise, YOU ARE WRONG!!!!!!!!!!
Our national defense was the biggest reason for the Constitution of the United States and before Reagan, it wasn't being upheld to the highest standard.
I was in the military in 84 driving 1930’s and 40’s models deuce and a half’s and 5/10 ton trucks with steel slabs for seats and canvas tops and no heaters and jeeps that barely ran.
We used manila folders for engine gaskets and cannibalized one vehicle to keep two running and that was in the transportation industry alone.
Artillery, Infantry, Air Cavalry and every other combat and support unit had many of the same problems and were often times much worse off then we were.
If a soldier was married, he automatically qualified for HUD housing and food stamps and many with children received medical cards.
People complain because our soldiers aren’t issued enough body armor and vehicles are lacking on under belly armor.
The simple truth is our military is decades advanced compared to what it was when Ronald Reagan raised his right hand.
Un-needed military hardware my ass. Ronald Reagan might have done a ton of things wrong but his rescuing our military from 50 years of democratic destruction wasn’t one of them and if you think otherwise, YOU ARE WRONG!!!!!!!!!!
Our national defense was the biggest reason for the Constitution of the United States and before Reagan, it wasn't being upheld to the highest standard.
Aaron- Number of posts : 9841
Age : 58
Location : Putnam County for now
Registration date : 2007-12-28
Re: Unemployment doubling
by SamCogar Fri Jan 30, 2009 11:02 am
Well now, when the dust settles from Obama's "$3 TRILLION+ Train Wreck" it will require a Republican majority to "clean up" the trash.
SamCogar- Number of posts : 6238
Location : Burnsville, WV
Registration date : 2007-12-28
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