Tennessee’s Republican Legislators Seek To Cut Unemployment Benefits Time

Tennessee’s Republican State Legislators Have Lost Their Minds

Republican-written legislation being considered in the Tennessee General Assembly would kick to the curb over 65,000 unemployed Tennesseans who have lost their jobs due to the COVID pandemic.

Republicans are seeking to cut in half the time frame for collecting unemployment benefits.

Richie Townsend, 39, an East Nashville resident and former bartender at Rolf and Daughters in Germantown, has struggled to find work after losing his restaurant job when the COVID-19 pandemic struck in March 2020.

In the time since, he’s held various unstable, low-paying jobs from which he, and others, have been fired over three times, due to no fault of his own. During those times, he has applied for, and has been granted access to his State Unemployment Compensation, a type of insurance paid for by employers, and backed by the state government, which all 50 states have.

Fortunately, he has benefits remaining, but only because of the extensions granted by Congress.

He’s recently started a new job in Franklin, but even as the state told him it is expediting his request for benefits, he’s reached out to his state House member but hasn’t gotten any payments on his latest extension.

“It sounds like an over-exaggeration by our local government to try to react to the fact that unemployment was extended for a year and a half in total,” he said.

Though he hates to admit it, Townsend says he’s

BLS On Unemployment Figures: We Know We Were Wrong – We Were Just Kidding… Just Kidding!

If the workers who
were recorded
as
employed
but
absent from work
due to
“other reasons”
(over and above the number absent for other reasons in a typical May)
had been classified
as
unemployed on temporary layoff,
the overall unemployment rate
would have been
about
3 percentage points higher than reported
(on a not seasonally adjusted basis).
However,
according to usual practice,
the data from the household survey
are
accepted as recorded.
To maintain data integrity,
no ad hoc actions are taken
to reclassify survey responses.

Below is the full image of their addendum on the report “THE EMPLOYMENT SITUATION — MAY 2020,” which may be found on the BLS website as linked here.

The pertinent part is the final paragraph, which is pasted above, and appears in red.There you have it.

The United States Bureau of Labor Statistics has OFFICIALLY STATED that the Present Unemployment Rate is THREE POINTS HIGHER than officially stated.

They noted also that in the three preceding months of March, April, and May 2020, that responses to the monthly survey were down -9.5%, -12.6%, and -15.1% correspondingly to the month, from last year for the preceding 12 months, and averaged.

Th agency noted also that “BLS and our partners at the Census Bureau take the misclassification error very seriously, and we’re taking additional steps to address the problem.”

Part of the problem, as they note, is with classification.

In a lengthy explainer, the agency wrote that, “In May, 8.4 million workers were classified as employed with a job but not at work during the survey reference week (not seasonally adjusted). Although lower than the 11.5 million not at work in April, this measure remains about twice the typical level at this time of the year. This likely reflects the impact of the coronavirus pandemic.”

Their explanation of “with a job but not at work” is apparently integrated into the idea of going to a central, or common location to work (such as at an office building, or factory site), and of that they wrote in part that, “BLS tabulates data on

Trump’s Made America GREAT Again!!!

Editor’s annotation appears in the conclusion.

GREAT job, Mister President!

Way to go, Republicans!

We’re Number 1!

Trump has made America GREAT AGAIN!

Now, let’s Keep America Great Again!

COVID-19 Morning Update May 12

We can’t let the Democrats get in the way of Republican success!

Over 1,347,936 Confirmed Cases of COVID-19, and increasing daily!

In fact, MORE than ANY OTHER NATION in the world!

And the best part?

COVID-19 Nightly Update May 11

More deaths than any other nation, as well!

In fact, now, with 80,684 confirmed COVID-19 deaths, soon America is on track, and will soon have MORE than the TOTAL Deaths of the United Kingdom (32,141), Italy (30,739), and Spain (26,744) COMBINED – 89,624!

And face it… a few folks will have to die to KEEP AMERICA GREAT!

COVID-19 Morning Update May 11

But their sacrifices will NOT be forgotten!

They’re PATRIOTS and HEROES on the FRONT LINES of the ECONOMY!

They’re Warriors for Wall Street!

We can’t let the Made in Wuhan Chinese Virus stop us!

We’re NUMBER 1!

Dow Jones Industrial Average 12-31-1970 to 5-12-2020

And the precious Stock Market is STILL HIGH!

Even with the present minor downturn and slight course correction, it’s HIGHER THAN IT’S EVER BEEN!

Trump has MADE AMERICA GREAT AGAIN!

And we MUST KEEP ON MAKING AMERICA GREAT AGAIN!

WHO CARES ABOUT UNEMPLOYMENT!?!

Just more FAKE NEWS by Never Trumpers!

FOUR MORE YEARS!

“We are gonna win, win, win. We’re going to win with military, we’re going to win at the borders, we’re going to win with trade, we’re going to win at everything. And some of you are friends and you’re going to call, and you’re going to say, ‘Mr. President, please, we can’t take it anymore, we can’t win anymore like this, Mr. President, you’re driving us crazy, you’re winning too much, please Mr. President, not so much, and I’m going to say I’m sorry, we’re going to keep winning because we are going to make America great again. I will not let you down.”
— Republican Presidential candidate Donald Trump Friday, May 20, 2016, 145th annual NRA convention, Louisville, KY

“We’re going to win. We’re going to win so much. We’re going to win at trade, we’re going to win at the border. We’re going to win so much, you’re going to be so sick and tired of winning, you’re going to come to me and go ‘Please, please, we can’t win anymore.’ You’ve heard this one. You’ll say ‘Please, Mr. President, we beg you sir, we don’t want to win anymore. It’s too much. It’s not fair to everybody else.’” Trump said. “And I’m going to say ‘I’m sorry, but we’re going to keep winning, winning, winning, We’re going to make America great again.”
–– Republican Presidential candidate Donald Trump, Thursday, May 26, 2016, Rimrock Auto Arena at MetraPark, Billings, Montana

“We’re gonna’ win with trade, we’re gonna’ win with health, we’re gonna’ win at so many levels! We’re gonna’ WIN! WIN! WIN! You’re gonna’ get so tired of winning, you’re gonna’ say, ‘Mr. President, PLEASE! We don’t wanna’ win anymore! It’s too much!’ And I’m gonna’ say, ‘I’m sorry! We’re gonna’ keep winning! Because we’re gonna’ make America great again!’”
— Republican Presidential nominee Donald Trump days before the November 2016 General Election

---

“THE EMPLOYMENT SITUATION — APRIL 2020

“Total nonfarm payroll employment fell by 20.5 million in April, and the unemployment rate rose to 14.7 percent, the U.S. Bureau of Labor Statistics reported today. The changes in these measures reflect

Report: U.S. to LOSE $4 TRILLION GDP, 2.5 MILLION Jobs in 5 Years

“Over time, these impacts will also affect businesses’ ability to provide well-paying jobs, further reducing incomes. If this investment gap is not addressed throughout the nation’s infrastructure sectors by 2025, the economy is expected to lose almost $4 trillion in GDP, resulting in a loss of 2.5 million jobs in 2025.

“Moreover, workers who are employed will earn lower wages, and in the long term, many higher paying jobs in technology and other leading sectors will be replaced by jobs that fulfill needs brought on by the inefficiencies of deteriorating infrastructure.”

There you have it!

Why focus upon repairing, rebuilding, replacing, and expanding America’s deteriorated economic infrastructure?

Because not only will YOU lose money and unemployment will increase, but American Gross Domestic Product will seriously decline, and that means reduced profitability for businesses of all types and all sizes – from Mom & Pop small and minority-owned businesses, to corporate giants, as well.

That finding is from the American Society of Civil Engineers (ASCE), and their report “Failure to Act: Closing the Infrastructure Investment Gap for America’s Economic Future,” which was published in May 2016, as the final update from four previous reports in the Failure to Act series published in 2011 and 2012. In those reports, the ASCE examined 10 infrastructure sectors critical to American economic prosperity.

Those reports were followed by a fifth, comprehensive final report entitled “Failure to Act: The Impact of Infrastructure Investment on America’s Economic Future,” which focused upon the total economic loss which would occur because of America’s failure to act in more than one sector.

The purpose of the report was to provide a total overall analysis of the economic implications of continuing to fail to invest in multiple infrastructure categories.

Even the Central Intelligence Agency sees America’s problems for what they are. It’s as plain as the nose on one’s face. And it’s NOT a partisan, Republican versus Democrat type of issue. It’s a matter of NATIONAL SECURITY.

Even America’s spy agency, the Central Intelligence Agency (CIA), sees the problem clearly, and has recognized not only it, but the increasing inequities of income distribution, as well.

“Long-term problems for the US include stagnation of wages for lower-income families, inadequate investment in deteriorating infrastructure…

“…the rise of low-wage producers such as China, has put additional downward pressure on wages and upward pressure on the return to capital. Since 1975, practically all the gains in household income have gone to the top 20% of households. Since 1996, dividends and capital gains have grown faster than wages or any other category of after-tax income.”

Now that we’ve identified the problem, let’s consider a workable solution.

Nothing is free in this nation, nor anywhere else, for that matter. And EVERY government runs on taxes, and has done so at least since the time of the Roman empire. And face it… if the Romans built aqueducts and roads that have lasted for at least 2000 years, we can too – and should.

Simply put, income tax rates WILL

Which Are The Best & Worst States For Registered Nurses?

Like most segments of the economy, the nursing industry is in a state of significant transition under the weight of major socioeconomic dynamics — from the aging U.S. population to the student-loan crisis to concerns about the future of key entitlement programs. But such concerns are not unique among recent graduates, regardless of industry.

More specific to nursing professionals are the various day-to-day demands placed on them, such as mandatory overtime, overstaffing, unionization and allegations of systemic disrespect. Despite those challenges, however, aspiring nurses have much to look forward to upon certification. Nursing occupations are some of the most lucrative careers with the lowest unemployment rates in the U.S. In fact, the industry is expected to grow at more than double the rate of the average occupation through 2024.

With such bright projections, WalletHub’s analysts took stock of the nursing industry to help registered nurses, particularly the newly minted of the bunch, lay down roots in areas that are conducive to both personal and professional success. We did so by comparing the 50 states and the District of Columbia across 18 key metrics that collectively speak to the nursing-job opportunities in each market. Below, you can check out our findings, expert commentary on the state of the nursing industry as well as the methodology we used to conduct this report.

Alabama May 2015 Unemployment Higher Than Reported

Alabama May 2015 Unemployment Rates by County with Totals

According to the Alabama Department of Labor, the Seasonally Adjusted preliminary state Unemployment Rate for May 2015 was 6.1%. The Not Seasonally Adjusted rate was 6.2%.

However, as I have written previously (October 2014, Analysis: Alabama Unemployment Higher Than Stated), the rate is subject to flaw precisely because it is

Alabama Democrats Vote to Save Jobs: ABC Privatization Bill Dies in Senate Committee

A bill by State Senator Arthur Orr (R-Decatur) to privatize the Alcoholic Beverage Control Board has died in the Senate Finance and Taxation General Fund Committee by a 7-6 vote along party lines, with one Republican voting ‘NO.’ The vote received applause from attendees.

A substitution bill presented by Orr would’ve changed the suspension penalty for Selling to Minors from one year to one week, and increased taxes, was also adopted along party line vote.
Orr said earlier that, “Part of our job is to downsize government,” and demanded a committee vote be taken on his bill today.

Alcoholic Beverage Control Board Administrator Mac Gipson testified that employees are paid from mark-ups from sales in the state’s 176 ABC stores. He also noted that by comparison, there are 587 private package stores in the state.

In Alabama, liquor is marked up at

Analysis: Alabama Unemployment Higher Than Stated

Alabama Governor Bentley claims he, and his policies – whatever they are (he has none… just look for your self) – have been responsible for declining Alabama Unemployment. Fact is, he’s blowing smoke.

Alabama Governor Bentley claims he, and his policies – whatever they are (he has none… just look for your self) – have been responsible for declining Alabama Unemployment. Fact is, he’s blowing smoke.

Alabama’s Republican Governor Robert Bentley, MD has crowed about “success” in lowering Alabama unemployment during the past 4 years of his term.

However, to be certain, a random statistical examination of the state’s Unemployment rate shows that it is very likely, AT LEAST two points higher than reported.  Here’s how.

Unemployment is calculated as a simple average. Take the number of people working, added into the number of people NOT working, AND who WANT to work, divided by the people who are available to work, gives the unemployment rate.

Here’s how the Bureau of  Labor Statistics defines the parameters of the equation:

What are the basic concepts of employment and unemployment?

The basic concepts involved in identifying the employed and unemployed are quite simple:
• People with jobs are employed.
• People who are jobless, looking for a job, and available for work are unemployed.
• The labor force is made up of the employed and the unemployed.
• People who are neither employed nor unemployed are not in the labor force.

Simply put, the formula is:

Unemployment Rate =	Unemployed
	Employed + Unemployed

 

However, if you’ve had a college course in Statistics – and most folks in Alabama have not (it’s part of maintaining the policy of “largely poor, uneducated, and easy to command”) – then you’d understand that a random sample of the set would show essentially the same results.

And face it… most folks in Alabama DO NOT HAVE A COLLEGE EDUCATION. In fact, according to the Alabama Department of Education, Alabama’s High School Drop Out rate is 28%. Page 2, Frame 2 of the linked document shows the 2010-2011 TOTAL Graduation Rate as 72%.

Face it… ALABAMA IS

Teaching Jobs Lost Under Alabama Governor Bentley

Yet more bad news from Governor Bentley’s incompetent, do-nothing administration.

Chalk up more jobs lost.

This is a DIRECT RESULT of the closure of the International Paper manufacturing facility in Courtland.

And the best worst part is, he’s playing with our children’s lives.

Be certain to thank him at the ballot box this November.

And the bad, sad news is undeniable: Alabamians are “largely poor, uneducated, and easy to command.”

When will Alabamians learn?

Wait… if the residents are “largely poor” they’re certain to be “uneducated, and [therefore] easy to command.”

Remember the cheer” We like it, we love it… we want some more of it!

Or if not, how about the line in the Charles Dickens classic Oliver Twist?

“Please, sir… I want some more“.

Alabama obviously likes it, and hasn’t gotten a bellyful yet.

Again… apply the circular logic of:

“largely poor, uneducated, and easy to command.”

—

(Board Of Education) BOE cuts local funded teacher units

Posted: Thursday, May 8, 2014 6:00 am

By Calvin Cooley Staff Writer

The Lawrence County Board of Education continued to take steps to solidify the county’s financial footing Monday night, eliminating five certified positions in an effort to cut the number of locally funded teacher units.

Superintendent Heath Grimes said more cuts could be on the horizon.

“We have to start focusing on building our financial reserves and this is one step in doing that,” he said. “We’ve been working closely with the state Board of Education to get a plan in place to build a one-month operating reserve and this is one of the suggest measures.”

Lawrence County’s one-month operating cost is roughly $3.2 million. Grimes said the board has $1.5 million in reserve.

“It’s important to understand that, yes, we are

Perspective – By the Numbers: How has Job Loss under Governor Bentley & the GOP affected Alabama?

It’s easy to talk about “the jobs situation” in Alabama. It’s especially easier to talk about it when it doesn’t affect you… directly. It’s like armchair quarterbacking.

There’s probably much truth to the statement that Alabama’s legislators aren’t directly affected by job loss in the state. They have jobs. As musician Steve Miller sang in his song “Take the Money and Run,” they make their “living off other people’s taxes.” That goes for Republicans AND Democrats. Such an observation, of course, is not to demean those who do “make their living off other people’s taxes,” because our military, public safety and others vital to our local, state and national well-being are among them. It is however, an acknowledgment of, and call to responsibility – not merely accountability – because accountability is the only remnant once responsibility has departed. And that is how the “Blame Game” is played.

In the previous entry entitled “Analysis – Examining the Record: Is Alabama Governor Bentley a “Jobs Creator” or a Drag on the State Economy?,” we looked at facts & figures about job loss & job creation during Governor Bentley’s administration.

In this entry, we examine some details on the extent of the damage done to families & individuals under his administration.

And so, let’s again refer to some previously-mentioned facts & figures, and introduce some new ones so that we can better understand the nature, scope and and extent of the situation, and corresponding problems

Male Nurses Earn More Than Female Nurses

This issue raises some very interesting questions. First, because men are a minority in Nursing, is it justifiable for them to earn more than those, who as a group, dominate the profession?

Or, is parity genuinely or truly parity?

Should men and women earn the same amount of money if they do the exact same kind of work?

Or, are there accountable differences in the pay which justify the difference, however slight – and is very slight.

—

Male Nurses Make More Money

• February 25, 2013, 1:17 PM

ByBen Casselman

Men now comprise 10% of all Nurses in the United States, up from 3% several years ago. / Getty Images

Hospital patients are more likely than ever to see a male nurse at their bedside — and odds are he earns more than the female nurse down the hall. Men made up close to 10% of all registered nurses in 2011, according to a new Census report released today. That may not sound like much, but it’s up from less than 3% in 1970 and less than 8% in 2000.

It’s no mystery what is drawing men into nursing. Male-dominated professions such as construction and manufacturing hemorrhaged jobs during the recession and have been slow to rebound during the recovery. The health-care sector, meanwhile, actually added jobs during the recession and has continued to grow since. All told, health-care employment is up by

Federal Reserve’s “Beige Book” shows improving economy

The Federal Reserve regularly publishes a summary of economic activity in the 12 Federal Reserve Districts in the United States.

It is important to note that “This document summarizes comments received from businesses and other contacts outside the Federal Reserve and is not a commentary on the views of Federal Reserve officials.”

Much, if not most of the news was promising.

Summary highlights from this Beige Book 2013-01-16 are that:

• “Reports from the twelve Federal Reserve Districts indicated that economic activity has expanded since the previous Beige Book report, with all twelve Districts characterizing the pace of growth as either modest or moderate.”

• “All twelve districts reported some growth in

The Oracle at Delphi: Mitt Romney’s direct tie to increased unemployment in North Alabama

The average reader may not be aware that there was once a huge Delphi plant in Limestone county, Alabama, which facility was located directly across from Calhoun Community College.

Mitt Romney owned a significant interest in a firm that profited by laying off workers, dumping their pensions, moving to China, and then profiting rapaciously from the TARP bailout. That large plant – one among many, with the largest one being in Alabama – was the Delphi Steering Gear facility in Tanner, near Decatur, in Limestone County.

It was one of North Alabama‘s LARGEST employers – with emphasis on “was.”

The men & women who made careers there, whose labors enabled their children to attend college, provided their families’ clothing, groceries, housing & healthcare, and provided for their own retirement, and which was a union shop, was shuttered several years ago.

Most of what news I recall about it centered around how corporate traders, not unions, were wanting even more & more profit when they were already profitable. Time and time again, the workers took cuts in benefits & pay to keep their jobs for as long as they could… all to no avail.

Like a gazelle savaged on the plains of the Kalahari Desert in Africa, that once prosperous plant has been laid to waste, and there are only industrial skeletal remains. Even the human buzzards, scavenging metal for recycling from the industrial carcass, have left. For many years now, the hollow exterior hulk, instead of employees, materials & labor, has been drawing cobwebs, dust & rust. And soon, like all things left unattended, it too will crumble.

There are no taxes paid to Limestone county, or to nearby Decatur, Athens or Huntsville, or to Alabama for roads, schools, police & fire protection. But there is an even greater issue, one which is exceedingly more weighty and sorrowful. As a result of it all, there is no hope, there are no jobs, and there is no future.

Here’s the even more disturbing part: Mitt Romney had his hand in that pie.

And yet the saddest and most perplexing part is, that most Alabamians will vote for the GOP nominee/candidate.

Following the economic investigative report are historical local news reports that show the progression about the issue (which validate the economic investigative report by Greg Palast), from the:
• Decatur Daily,
• Huntsville Times,
• Associated Press,
• Athens-Limestone News Courier,
• Saginaw News (via MLive.com), and
• Wall Street Journal,
dating 2005, 2007, 2008, 2009 & 2010.

For the benefit of the reader, Greg Palast is an economist and financial investigator turned journalist whose series on vulture funds appeared on BBC Television’s Newsnight. He is the author of The Best Democracy Money Can Buy (Penguin) and, most recently, Billionaires & Ballot Bandits: How to Steal an Election in 9 Easy Steps (Seven Stories). For additional information about him, his website is: http://www.gregpalast.com.

—

Mitt Romney’s Bailout Bonanza

Greg Palast, October 17, 2012   |    This article appeared in the November 5, 2012 edition of The Nation.

This investigation was supported by the Investigative Fund at the Nation Institute and by the Puffin Foundation. Elements of it appear in Palast’s new book, Billionaires & Ballot Bandits: How to Steal an Election in 9 Easy Steps (Seven Stories). Research assistance by Zach D. Roberts, Ari Paul, Nader Atassi and Eric Wuestewald.

2012 GOP Presidential Nominee Mitt Romney (AP Photo/Evan Vucci)

Mitt Romney’s opposition to the auto bailout has haunted him on the campaign trail, especially in Rust Belt states like Ohio. There, in September, the Obama campaign launched television ads blasting Romney’s November 2008 New York Times op-ed, “Let Detroit Go Bankrupt.” But Romney has done a good job of concealing, until now, the fact that he and his wife, Ann, personally gained at least $15.3 million from the bailout—and a few of Romney’s most important Wall Street donors made more than $4 billion. Their gains, and the Romneys’, were astronomical—more than 3,000 percent on their investment.

It all starts with Delphi Automotive, a former General Motors subsidiary whose auto parts remain essential to GM’s production lines. No bailout of GM—or Chrysler, for that matter—could have been successful without saving Delphi. So, in addition to making massive loans to automakers in 2009, the federal government sent, directly or indirectly, more than $12.9 billion to Delphi—and to the hedge funds that had gained control over it.

One of the hedge funds profiting from that bailout—
$1.28 billion so far—is Elliott Management, directed by 
Paul Singer. According to TheWall Street Journal, Singer has given more to support GOP candidates—$2.3 million—than anyone else on Wall Street this election season. His personal giving is matched by that of his colleagues at Elliott; collectively, they have donated $3.4 million to help elect Republicans this season, while giving only $1,650 to Democrats. And Singer is influential with the GOP presidential candidate; he’s not only an informal adviser but, according to theJournal, his support was critical in helping push Representative Paul Ryan onto the ticket.

Singer, whom Fortune magazine calls a “passionate defender of the 1%,” has carved out a specialty investing in distressed firms and distressed nations, which he does by buying up their debt for pennies on the dollar and then demanding payment in full. This so-called “vulture investor” received $58 million on Peruvian debt that he snapped up for $11.4 million, and $90 million on Congolese debt that he bought for a mere $20 million. In the process, he’s built one of the largest private equity firms in the nation, and over decades he’s racked up an unusually high average return on investments of 14 percent.

Other GOP presidential hopefuls chased Singer’s endorsement, but Mitt chased Singer with his own checkbook, investing at least $1 million with Elliott through Ann Romney’s blind trust (it could be far more, but the Romneys have declined to disclose exactly how much). Along the way, Singer gained a reputation, according to Fortune, “for strong-arming his way to profit.” That is certainly what happened at Delphi.

* * *

Delphi, once the Delco unit of General Motors, was spun off into a separate company in 1999.

How to End This Depression

It’s been said that ‘everything should be made as simple as possible, but not simpler.’

The distinguished Dr. Krugman – who accurately foretold in 2001 that the “Bush Tax Cuts” would create significant deficit (and they did) – understands the role of government in providing opportunity for entrepreneurs and private enterprise, and the equally important role that government has in responsibility to protect public health and safety.

The long and short of it is this: Government spending on economic infrastructure (including education) is a good investment because it yields significant immediate and long-term results.

Why?

Because Materials and Manpower ALWAYS come from the private sector.

Regular readers of this blog will be familiar with the aforementioned premise, and the numerous times about which I have written in detail about the same. This entry illustrates with three excellent examples of that principle.

Naysayers and critics miss one very important factor in their analogy, which is that the Federal government has the power and authority to print money. The way that factor relates to the issue at hand is this: While the government could – in theory, and in reality – print enough money to give $10,000 to every man, woman and child in this nation the net effect of so doing would be to devalue the money, which would be resulting from inflation.

How to correct, resolve or work within the guidelines of that factor is to understand that one very important role of government is to provide OPPORTUNITY for entrepreneurs and private enterprise. By providing opportunity, government is also encouraging private enterprise and entrepreneurship. And, for the strict Constitutionalists, courts have continued to uphold and acknowledge that such power is contained within the Preamble’s clause “to promote the general welfare.”

Further, for the “anti-Big Government” naysayers, it is preposterous (contrary to reason or common sense; utterly absurd or ridiculous) to imagine that, in this era, with every technological advance, invention and discovery which has been made since 1776, and with our population (now approaching 312,000,000), that we would have fewer laws, rules and regulations than when we first began.

And, for those who say we should balance our budget, I would agree. However, I hasten to point out, that the last time that was done was under Eisenhower and LBJ. That does not excuse us from an ongoing civil discussion and debate about how to effectively manage our nation’s budget. Perhaps a formula of some type which would take into account GDP, debt (outstanding Treasury notes), trade deficit, population growth, birth rate, and other factors – with an “escape” mechanism for times of civil emergency or war, of course.

For such, we need technocrats – experts in areas of operations – rather than bureaucrats. Perhaps in an advisory role. But then again, we have those.

So… why don’t we work together as we ought?

Politics.

It seems that “Everybody’s got something to hide except for me and my monkey.”

—

May 24, 2012

Paul Krugman

The depression we’re in is essentially gratuitous: we don’t need to be suffering so much pain and destroying so many lives. We could end it both more easily and more quickly than anyone imagines—anyone, that is, except those who have actually studied the economics of depressed economies and the historical evidence on how policies work in such economies.

President Obama on a tour of the Master Lockfactory in Milwaukee with the company’s senior vice-president, Bon Rice, February 2012; Susan Walsh/AP Images

The truth is that recovery would be almost ridiculously easy to achieve: all we need is to reverse the austerity policies of the past couple of years and temporarily boost spending. Never mind all the talk of how we have a long-run problem that can’t have a short-run solution—this may sound sophisticated, but it isn’t. With a boost in spending, we could be back to more or less full employment faster than anyone imagines.

But don’t we have to worry about long-run budget deficits? Keynes wrote that “the boom, not the slump, is the time for austerity.” Now, as I argue in my forthcoming book^*—and show later in the data discussed in this article—is the time for the government to spend more until the private sector is ready to carry the economy forward again. At that point, the US would be in a far better position to deal with deficits, entitlements, and the costs of financing them.

Meanwhile, the strong measures that would all go a long way toward lifting us out of this depression should include, among other policies, increased federal aid to state and local governments, which would restore the jobs of many public employees; a more aggressive approach by the Federal Reserve to quantitative easing (that is, purchasing bonds in an attempt to reduce long-term interest rates); and less timid efforts by the Obama administration to reduce homeowner debt.

But some readers will wonder, isn’t a recovery program along the lines I’ve described just out of the question as a political matter? And isn’t advocating such a program a waste of time? My answers to these two questions are: not necessarily, and definitely not. The chances of a real turn in policy, away from the austerity mania of the last few years and toward a renewed focus on job creation, are much better than conventional wisdom would have you believe. And recent experience also teaches us a crucial political lesson:

Atlanta Federal Reserve: Southeast employment up in May

Slowly, but surely, the signs that our nation’s economy is improving are emerging.

They’re not rapid, they’re not massive, but they’re there.

And like a trickle that becomes a raging river, it’s beginning to rain.

—

District employment increases modestly in May

06/18/2012

Payroll employment 6th district 1/11-5/11

The Sixth District as a whole added 9,000 jobs in May, following 9,600 new payrolls in April, and 18,900 in March, according to the U.S. Bureau of Labor Statistics (BLS). Alabama, Florida, and Georgia recorded payrolls increases while Louisiana, Mississippi, and Tennessee reported payroll decreases. Georgia was primarily responsible for the net positive District increase.

Payroll employment 6th district states 1/11-5/11

The District unemployment rate was

Congressional Budget Office: Food Assistance Rate to Grow

While not totally bright, the CBO report is not totally grim, either.

Here’s why.

The method by which unemployment figures are calculated does NOT take into account people whom have STOPPED looking for work. Many – if not most – of those people would accept work, were suitable work offered to them. They have stopped looking for work for many reasons, not the least of which is that they have become despondent from their unfruitful job search.

Now, when the unemployment rate begins to rise again, we will actually see an INCREASE in the rate.

Why?

Because many of the people whom had previously stopped looking for work, will again resume their job search. Thus, they will be counted among the unemployed, whereas previously, they were not counted among the unemployed.

How does the methodology of counting the unemployed relate to this report about rising participation in the Supplemental Nutrition Assistance Program?

In many cases, the rates of unemployment, in conjunction with the expiration of unemployment compensation benefits, correlates strongly with want and poverty.

Thus, if the CBO says the rates will grow, we can make a reasonable estimate that the strength of economic recovery will have taken hold, and be in full swing.

As an observation aside, examine the larger infographic, and look at the states with the highest rates of SNAP utilization. Most of them are in the Southeast: Alabama, Arkansas, Georgia, Kentucky, Louisiana, Mississippi, South Carolina, Tennessee, West Virginia. Those states were formerly Democratic strongholds, and have now swung strongly toward Republican politics. Three other states – Maine, Michigan, and Oregon – also have SNAP utilization rates above 18% of their population.

What would happen politically if Republicans were allowed to eliminate the SNAP program?

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Food Stamp Rolls to Grow Through 2014, CBO Says

• April 19, 2012, 1:58 PM ET

The Congressional Budget Office said Thursday that 45 million people in 2011 received Supplemental Nutrition Assistance Program benefits, a 70% increase from 2007. It  said the number of people receiving the benefits, commonly known as food stamps, would continue growing until 2014.

Click for larger CBO infographic.

SNAP infographic - Click for much LARGER image.

Spending for the program, not including administrative costs, rose to

Rising Job Numbers: Will they Buoy the President’s re-election Chances?

Recently, the Obama administration has justifiably trumpeted news from the Department of Labor Statistics that hiring hiring by the private sector has increased significantly, and added 227,000 jobs in February while the national unemployment rate remained at 8.3 percent.

With 233,000 jobs added by private businesses, this marks the 24th consecutive month of private sector job growth. http://www.bls.gov/news.release/empsit.nr0.htm

This is good news for everyone, especially individuals, private households, the economy at large, small businesses, including

On the Importance of Human Dignity (wherein I attempt an explanation of why we’re in this mess)

It’s 2011 – very nearly 2012 – and the world seems in an uproar.

The Greek/Euro banking/debt crisis looms. The American banking/debt crisis looms larger yet.

Unemployment is at an all-time high in the United States and abroad. The Arab Spring uprising has deposed dictators in Egypt, Libya and the Middle East. Terror and anti-terror wars in Pakistan, Afghanistan & Iraq have gone on for very nearly a decade.

And the stateside Occupy Wall Street movement has become an international phenomenon with sit-ins/camp-outs/protests/demonstrations in Canada, and other nations, while general labor strikes in London have been, or will be ongoing amidst riotous demonstrations and worldwide unrest which have the potential to destroy any nation’s status quo.

Climatological changes never before witnessed have the scientific community hotly debating whether such changes are cyclical, or whether they’re induced. All the while, the polar ice caps continue a highly-documented and steady erosion by melting directly underneath an ever-increasing hole in the ozone layer – which layer protects the Earth from harmful solar radiation.

Earthquakes and tsunamis in Japan and Southeast Asia – brought about by deep sub-oceanic earthquakes – have destroyed nations’ shore lines and cities in the Far East and elsewhere. Meanwhile, the intensity and frequency of hurricanes, tornadoes, floods and droughts have wreaked havoc at home in the U.S. and abroad.

And fracking – the geological practice of rupturing the Earth very deeply to force out petroleum – is rapidly becoming a commonplace practice in oil exploration efforts in the United States – which practice will doubtlessly spread worldwide.

The increasing democratization of the world enabled by the Internet and social networking tools – among them the almost ubiquitous smartphone – have brought

How to fix this ROTTEN economy

Here are a few “quick” points, and anecdotal observations, followed by solutions.

According to published reports, unemployment has ranged, on national average, between 9-12%. However, some suggest that the real unemployment rate may be much higher, in some cases, up to twice – or more – of the reported figure. Adding strength to that argument is the fact that 1.) the government reports

Unemployed? Mortgage Trouble? Facing Foreclosure? Live in Alabama?

Help is HERE!

If you are an unemployed Alabamian, down on your luck – and in this economy, who’s NOT?!? – and are facing the possible disaster of losing your family’s home… becoming homeless, THERE IS HELP AVAILABLE, right now!

Click on this link for additional details, and to apply for help: “Hardest Hit Alabama.”

FYI, that is a SECURE website. That is, the https protocol is used. (The reader should be aware that there are other links within this entry, most of which are informational. The “Hardest Hit Alabama” link, however, is directly to that site: https://www.hardesthitalabama.com/index-static.html.

Here’s a brief primer from the site on the foreclosure prevention program.

Feel like an economic victim? Here’s how to TAKE CONTROL!

Seal of the Great State of Alabama - Sweet Home Alabama

You’re laid off, the victim of downsizing, or your company went belly up… and you can’t find work.

What to do next?

Bob Riley loses Hyundai to Georgia

Governor Bob Riley (R), whom crowed about Hyundai Motor Manufacturing’s construction of a new plant in Montgomery, must be eating crow now.

Apparently, Hyundai will be moving OUT of Montgomery to West Point, GA.

Though federal law requires advance notification of layoffs, Hyundai officials