Monday, February 20, 2012

Unemployment is the key issue we presently face

On Presidents Day, many in the private sector are working. This is because this is one of the holidays that private companies don't offer, but rest assurred, your local, state & federal employees are enjoying a long weekend.

For others, it is just another day of looking for work. This is the defining issue of the upcoming election. Gay marriage,immigration and other issues are important, but until Americans can get back to work and at a good wage, there is no more pressing issue for deciding our next election.

CBO: U.S. enduring the longest period of high unemployment since the Great Depression
February 16, 2012

After three years with unemployment topping 8 percent, the U.S. has seen the longest period of high unemployment since the Great Depression, the Congressional Budget Office noted in a report issued today.

And, despite some recent good news on the economic front, the CBO is still predicting that unemployment will remain above 8 percent until 2014. The report also notes that, including those who haven't sought work in the past four weeks and those who are working part-time but seeking full-time employment, the unemployment rate would be 15 percent.

The CBO made its comments in a report examining the long-term effects of joblessness, and possible policy options to boost employment, including unemployment insurance reforms and job training programs. The report came at the request of Democratic Michigan Rep. Sander Levin, but Republicans quickly jumped on the chance to bash President Obama's stimulus program, which is also reaching its three-year anniversary today.

"The stimulus is a stark reminder of how the president got the policies he wanted, and how those policies have failed the American people and are making things worse," said Texas Republican Rep. Jeb Hensarling

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