What happened to the Republicans plan to create jobs if elected to office? Apparently, that’s the plan, only after they “send a message” to Wall Street that tax cuts and deregulation are on the way.
The new crop of Republican governors and legislatures has promised to do just the opposite of job creation, in broad daylight, without a news media mention. Slash jobs, jobs, jobs, the government kind.
Daily Reporter: In a healthy economic recovery, states and localities start hiring … Then there’s the 2011 recovery … State and local governments … short of cash cut 30,000 jobs in May, the seventh consecutive month they’ve shed workers. Rather than add to U.S. economic growth, they’re subtracting from it.
This will not get any coverage. Instead, Republicans will blame Obama for everything.
And ordinary Americans are feeling it — from reduced services to fewer teachers, police officers and firefighters.
In the two years after the 1990-91 recession ended, for example, they’d added 430,000 jobs. At the same point after the 2001 recession ended, they had added 249,000. This time is different. More than 467,000 state and local government jobs have vanished since the recession officially ended in June 2009, including 188,000 in schools. Mark Vitner, senior economist at Wells Fargo Securities, expects state and local governments to slash 20,000 to 30,000 jobs a month through the middle of 2012 … when states cut spending to balance their budgets, as required annually, a ripple effect multiplies the damage: Companies that do business with states and localities suffer. These companies, in turn, scale back their own hiring.
Opponents of Government won’t change their minds no matter what the reality, but this analysis from corporate America should not be dimissed:
Moody’s Analytics estimates that each job in state and local government supports an additional 1.3 jobs elsewhere in the economy.
States such as Wisconsin, New Jersey and Ohio have first-term governors who “are trying to make their names by cutting spending,” Joel Naroff of Naroff Economic Advisors said. “It wasn’t the ‘in thing’ before to become a governor and immediately slash and burn. Now, you’ve got economic and political realities that are different from any time before.”
Highest unemployment since Dems took the house in 2007 and continued unemploymnet under obama's watch with more unemployment to come.
ReplyDeleteVote GOP!
Of course, you know who created the mass unemployment, right?
ReplyDeleteYou forgot. But Obama is supposed to pull your "free market" fat out of the fire. Doh!
Oh and who's adding to the unemployment rolls by downsizing needed public employees?