In 2013, we gained about 230,000 jobs…but the GOP ending unemployment benefits (to those who have been unemployed 6+ months) will cost the economy 240,000 jobs and a loss of 0.4% in the first quarter of 2014.
With Washington DC’s attention focused on the antics of Ted Cruz and the tea partiers, who are threatening to shut down the government unless Obamacare is defunded, it’s easy to lose sight of the bigger picture: Aside from Obamacare, the budget battles of the past three years have been exclusively about the Republican obsession with cutting spending while we’re trying to recover from the worst recession since World War II. …
“A McDonald’s job listing for a cashier in Massachusetts demands a bachelor’s degree and two years experience. Previously, only people in managerial or corporate positions needed that kind of degree, further showing how bad the unemployment situation is for college graduates.”
President Barack Obama pauses while he speaks to reporters after meeting with congressional leaders regarding the automatic spending cuts at the White House in Washington, Friday, March 1, 2013. (AP Photo/Charles Dharapak)
Assessing the economic and political damage from the tax and spending impasse: The price to be paid and who pays it.
This article makes me think about again, how strong the correlation may be, between economic development and peace. It is harder, in my opinion, to convince people to fight when they are gainfully employed.
Mali is under siege, caught in a vortex of violence from within and without that threatens to reshape not just the country itself but what is called the global “war on terror.” The humanitarian crisis could get much worse before waning.
Two years ago, most Malians would’ve scoffed at the idea that their country was about to descend into chaos. In fact, during a visit right around that time, that’s what I heard, from Bamako to Timbuktu. The country had enjoyed stable government for years, I was told repeatedly, and the upcoming elections would result in a peaceful handover of power.
So far, the protests seem fueled by a collective sense that things in our economy are not fair or right. But the protesters have not done a good job of focusing their complaints—and thus have been skewered as malcontents who don’t know what they stand for or want.
So, what are the protesters so upset about, really?
Do they have legitimate gripes?
To answer the latter question first, yes, they have very legitimate gripes.
That 9% rate, by the way, equates to 14 million Americans—people who want to work but can’t find a job.
Source: Business Insider