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Posted on 01/12/2014 9:00:44 AM PST by Olog-hai
A cutoff of benefits for the long-term unemployed has left more than 1.3 million Americans with a stressful decision:
What now?
Without their unemployment checks, many will abandon what had been a futile search and will no longer look for a job—an exodus that could dwarf the 347,000 Americans who stopped seeking work in December. Beneficiaries have been required to look for work to receive unemployment checks.
Some who lost their benefits say they’ll begin an early and unplanned retirement. Others will pile on debt to pay for school and an eventual second career. Many will likely lean on family, friends, and other government programs to get by. …
(Excerpt) Read more at hosted.ap.org ...
And what’s going to happen in 3 months, and 3 months after that.....
That doesn't surprise me at all, LVR, since our government doesn't really know what financial obligations have to be serviced either.
You see, we have an official national debt of $17T, but unfunded liabilities, such as government-service employee pensions, Medicaid debt, Social Security and other social services now total an estimated $93T. So 17 + 93 = $110T (estimated). I've also seen estimates twice that large.
But to answer your question, as financial instruments come up for renewal, the new interest rate applies, in almost all instances.
Only future borrowing. The Treasury has also tried to issue more longer term debt so the average maturity is over 5 years now.
A lot of these people were not seriously looking for a job, they were going through the motions just to qualify for benefits. Doesn’t mean that there are jobs out there for them.
No, “transitional living funds”.
I just outlined the first steps towards doing that. None of the liberals in DC want to budge on that issue.
We could lower the corporate tax rate which is the highest rate in the world. We could stop in the insane money printing which suppresses the willingness to risk money on new job creation. That would be more than enough, but I would also slash regulations and scrap the current tax code.
Looking on the bright side, China is now quite a good market for upscale goods. I have been selling quite a few collectibles there (bit of a hobby of mine). These days they (mainly through HongKong) are my main customers. I think they are ready to be a decent market for quality consumer goods, like Japan.
That's pretty much what I thought too, but I'm sure the crooks would have something of an exception carved out.
17 trillion at 4% would about destroy us....of course maybe that's the plan.
On unfunded liabilities though I've read anywhere from 100 - 220 trillion, no one really seems to know.
Thanks for your reply.
Thanks!
I am not speaking to liberals.
It was already correctly identified in this thread, that democrats have a vested interest in not fully employing Americans.
America running high unemployment, causes needy people. Democrats thrive on needy people.
Who I am speaking to are conservatives. Sure there was a huge amount of money to be made in sending American jobs to China, but China is not America.
China is a strategic competitor to America.
The largest nation on earth, in population.
We need to stop building China into an ever-stronger competitor.
China has five times the population of America.
Conservatives need to say enough, and start to dis-invest from China. Bring your money back home.
For over an entire generation Americans have built up the rest of the world.
It is time to start to bring all of that money back home.
Democrats are not helping America.
The job is left for Republicans.
So Republicans. STAND UP.
Build up America.
I see the sob sisters are out in force at AP.
-— A lot of these people were not seriously looking for a job, they were going through the motions just to qualify for benefits -—
I got laid off from a major company in 2009. Occasionally I look up my former colleagues on Linked In. Most are “consulting.” Few have found full-time jobs.
Almost five years later.
Imagine that.
I’ve bounced around doing contract work.
It’s a real party out here.
Yeah, with “more handouts” as the solution rather than abandoning the socialist race to the bottom.
Buyers can be fooled into thinking a home is worth $500,000 if artificially low interest rates make it easier to afford monthly mortgage payments. That isn't going to last forever.
It's not going to happen and the unions and our government have seen to that. There is no way that companies like Apple or Google are going to build their smartphones and tablets here in the United States where they have to deal with pinky-ringed union thugs and a government that will be hell-bent on legislating and litigating them out of business under a blizzard of regulations and lawsuits.
Those factories you speak of are gone forever. They are never coming back, at least until robotics advance enough where humans are no longer required to work in them.
The blue-collar factories jobs are officially extinct and they only exist in Bruce Springsteen songs and in PBS documentaries. No more Laverne & Shirley stamping caps on beer bottles in Milwaukee. No more, no more.
These days, you get a white collar job or a job in the service industry. You don't necessary need to work in Walmart or at a McDonalds but you can still get a plumbing or electrician license and make a decent living in the trades if blue-collar work really appeals to you.
Forget about the factories though. They are NEVER coming back.
Never.
-— China is a strategic competitor to America. -—
The economy is not a zero sum game. We can all be prosperous.
Just because we’re economically suicidal doesn’t mean that we should try to drag other economies down.
Yes, its bad.
Full time non-contract career positions are very scarce across many industries.
However, there are indeed good paying jobs going begging.
Qualified electric linemen are very hard to find.
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