Thursday, May 14, 2009

Real Unemployment Rate at 15.8%; the curiousness of bipartisanship

According to a press release from Americans for Democratic Action, the BLS has reported that the real unemployment rate has reached 15.8%.

As ThinkProgress notes, layoffs of civil servants and public sector workers continue at an alarming rate, largely because Congressional measures to stimulate the economy were watered down due to pressure from Congressional Republicans and conservative Democrats.

I think it's time we drop the "bipartisan" jazz and just do what it takes to make things better. If we pursue a policy that improves the economy, it's not like Average Joe is going to be sitting and home and is going to jump up an scream, "Man, I really like having a job, but not if it means we can't be bipartisan! I'd gladly join the unemployment line as long as that bill would get a few GOP Senators onboard!"


jp3k said...

everyone must have a job at any cost!!!1 what do you mean no money?! print that shit!"watered down" stimulus. we've printed off over $1,000,000,000,000. that's over a million millions. does that mean anything to you?

Zaid at UGA said...

The US T-Bill is still the safest investment in the world, so really, it's not that big of a deal. Most credible economists are more worried about deflation right now, and if there's inflation in the future, it won't be something some rate hikes can't take care of. Returning to more progressive taxation would be preferable to all this borrowing, however. People having jobs is paramount -- we want people producing for revenue, right?

jp3k said...

-->Financing through T-Bills = printing postponement.
-->Rate hikes to slow inflation = printing postponement.
Sooner or later, lenders demand repayment. Printing cannot be postponed forever.

-->Printing = taxation.
Taxation at its worst. Couldn’t agree with you more that “progressive taxation” is preferable to borrowing. God, please let them just put it out in the open. Put it in front of the taxpayers plain and clear. What a wonderful world it would be. Though, I doubt that is what you want. It would be quite a blow to statism.

-->Job creation = job destruction.
You cannot create jobs. You can only redistribute employment. But “redistribution” is music to your ears, isn’t it.