Posted on 12/06/2010 12:18:59 AM PST by JohnHuang2
Congressional leaders of both parties suggested Sunday that they could reach a deal to extend all Bush-era tax rates as early as this week and that it would include an agreement by Republicans to also extend unemployment benefits for millions of jobless Americans.
"I think that most folks believe that the recipe would include at least an extension of unemployment benefits for those who are unemployed and an extension of all of the tax rates for all Americans for some period of time," said Senate Minority Whip Jon Kyl, Arizona Republican. "I think an agreement could be reached in the relatively near future."
(Excerpt) Read more at washingtontimes.com ...
When the Labor Department said Friday that a measly 39,000 jobs were added last month, experts responded by expressing shock that their inept predictions were wrong again. Obama responded by fleeing the country.
Obama traveled all the way to Afghanistan to have a phone conversation with Hamid Karzai. Not to worry, the trip succeeded in its mission -- moving the stellar jobs report off the front page. (In fairness, the White House denies any such motive, since it's only the fourth time Obama was coincidentally abroad on the same day a crappy jobs report pops up. Trust us!)
Having been wrong in all their predictions, economists insist the dismal jobs report validates what the Fed's been doing with "Quantitative Easing," since it hasn't work.
Liberals claim the uptick in unemployment to a seven-month high is actually a good sign because it means more people are now actively looking for work and not finding any.
The jobless rate has topped 9 percent for 19 consecutive months -- another good sign! Nearly all those 19 months of 9 percent-plus unemployment were during the recovery, marked by a burst of even higher unemployment.
According to the Labor Department report, 15.1 million people were jobless in November, while the underemployment rate stood at 17 percent of the work force. Around 6.3 million people have been out of work for six months or longer in November.
In response to the dismal economy, the House passed a bill to lower the volume of TV commercials.
The jobs report also showed the average workweek stuck at 34.3 hours in November, and down for non-supervisory workers to 33.5, but -- in a hopeful sign -- average hourly earnings soared by a massive 1 cent. (This will really help consumer spending.)
In even better news, the report's household survey showed 173,000 job cuts in November, on top of 330,000 job losses in October.
In response, Harry Reid is pushing legislation allowing poker games over the Internet.
During the month of November, 5,000 construction jobs were lost, 13,000 factory jobs disappeared, 28,100 retail jobs got slashed, 1,500 motor vehicle and parts jobs were cut and 9,000 jobs in financial services were snuffed out.
Coming to the rescue, the House passed a child nutrition bill, limiting school bake sales.
The jobs report also showed the employment-to-population ratio dropping from September's 58.5 percent to 58.3 percent in October and to 58.2 percent in November. A year ago, it was 58.5 percent. During the horrors of the Bush years, the ratio reached 63.7 percent.
In response, the Obama administration is looking for ways to disable cell phones in cars.
In a separate report, orders to U.S. factories 'unexpectedly' plunged in October by the biggest amount in five months, with demand for appliances, furniture, machinery, computers and transportation equipment sinking. The Commerce Department said orders overall fell by 0.9 percent.
The Senate responded by holding more hearings on 'Don't Ask, Don't Tell.'
Eager to keep furnishing as much evidence as possible that they're insane, libbies still cling to the notion that the economy lies in shambles because the Bush tax cuts haven't been repealed yet and that the jobless rate is 9.8 percent because Obama lacks a communications strategy and that business is 'unexpectedly' crappy because the failed 'stimulus' didn't waste enough money and that the key to job growth is to pay people to stay unemployed and that good tax policy is to dole out tax 'rebates' to people who don't pay taxes.
But, rejoice! The list of jobless people will shrink big-time as soon as the names Obama and Biden are added to it.
Anyway, that's...
My Two Cents...
"JohnHuang2"
Well done. You have a future as a columnist.
Economics...the subject with a 400 set of questiuoins in "Trivia Quiz"....
....and a thousand answers.
According to the Labor Department report, 15.1 million people were jobless in November, while the underemployment rate stood at 17 percent of the work force. Around 6.3 million people have been out of work for six months or longer in November.
Thank you liberals, for NAFTA - Tell me is NAFTA still good for the country??????????
NAFTA was only between Canada, the U.S., and Mexico...hardly where our jobs have gone (China, anyone?!)...and NAFTA isn’t even remotely part of this thread about taxes.
*A.D.D. There are good meds to cure it. Please stay focused on the topic at hand, even if that requires medication.
How do we replace the government ppl responsible for the stats with these the shadow stats ppl? If ppl aspire to be central planners, they need good stats to given guidance at the very least, not stats that lie to yourself
You said two years worth in a few paragraphs. Well done.
here’s an idea, reduce the workers in the federal government by 50% and give everyone an unemployment check. Better that, than giving them FULL WAGES
They are not in total meltdown...they are getting the unemployment extension...to like 125 weeks now?! At a cost of at least $65 billion. They should just transition the unemployed to the welfare rolls, because that is what it is now...and it would help lower the unemployment rate!
Later
Well done and fun to read.
Well done.
As usual...nice job.
Merry Christmas and Happy New Year John.
They went to Mexico first. But that was just a way station.
...and NAFTA isn’t even remotely part of this thread about taxes.
Seems to me that it's about unemployment. So NAFTA is germane.
Nope.
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