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Dislocated in America

Sat, 21 Nov 2009 00:00:00 -0800

St. Louis Post-Dispatch - Nov. 21 (Editorial) - What may be occurring is a seismic shift in the American economy, one that could leave as many as one in four Americans permanently unemployed or so drastically underemployed that he or she can’t make ends meet. That’s the situation today. The greatest economic crisis since the Great Depression has resulted in the greatest social dislocation since the Great Depression.

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How Stimulating

Sat, 21 Nov 2009 00:00:00 -0800

Washington Monthly - By Steve Benen - Nov. 21 (Comment) - Republican critics of the economic recovery efforts, when they're not taking credit for the money that's benefiting their state/district, take it as a given that the stimulus "failed." For the right, it's a foregone conclusion, hardly worth discussing anymore. The New York Times reminds us today that "dispassionate analysts" agree that a fair look at the stimulus package shows that it may be "messy" but it's also "working."

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Economic Crisis Is Getting Bloody

Fri, 20 Nov 2009 00:00:00 -0800

AlterNet - By Nick Turse - Nov. 20 (Opinion) - Despite ever rosier economic predictions and a surging stock market, the body count from the economic crisis is destined only to grow in the weeks and months ahead. In 2007, Jason Rodriguez was fired from his position at an Orlando, Florida engineering firm and ended up taking a job as a "sandwich artist" at a Subway restaurant. His salary was cut nearly in half and his debts mounted until, last May, he filed for bankruptcy, listing his assets at just over $4,600 and his liabilities at nearly $90,000. Although he lived only 30 minutes away, according to his former mother-in-law, America Holloway, Rodriguez barely saw his son. When the boy asked why his father didn't visit, Holloway said Rodriguez told him: "'Because I don't have any money. I don't have a job. I don't have anything to eat. When things get better, I'll come see you.'"

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An American Catastrophe

Fri, 20 Nov 2009 00:00:00 -0800

New York Times - By Bob Herbert - Nov. 20 (Opinion) - Detroit and its environs are suffering the agonies of the economic damned because of policies, crafted at the highest national and corporate levels, that resulted in the implosion of crucially important components of America’s manufacturing base. Those decisions have had a profound effect on the fortunes not just of Detroit, or even Michigan, but the entire U.S. economy.

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Tax credits eyed for solar energy firms amid Obama’s push for ‘green jobs’

Thu, 19 Nov 2009 00:00:00 -0800

The Hill - By Ben Geman - Nov. 19 (News Report) - Solar energy companies are lobbying for new tax credits for domestic manufacturers that would come on top of subsidies included in the $787 billion stimulus package enacted earlier this year. Solar energy companies are lobbying for new tax credits for domestic manufacturers that would come on top of subsidies included in the $787 billion stimulus package enacted earlier this year.

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The Ugly Truth about Jobs

Wed, 18 Nov 2009 00:00:00 -0800

Consortium News - By Robert Parry - Nov. 18 (Opinion) - companies have found that they can shed workers and rely on technological advances and overseas factories to operate with a lot fewer U.S. employees.

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In Senate, coal fuels climate deals

Tue, 17 Nov 2009 00:00:00 -0800

The Politico - By Lisa Lerer - Nov. 17 (News Report) - Forget the debate over green jobs, wind farms and solar power. In the Senate, all deals on climate change run through coal country. Black gold has maintained a tight hold over the climate bill — despite a damaging lobbying scandal this summer, growing public health concerns and a destructive toxic coal ash spill that smothered 300 acres in eastern Tennessee last December.

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Environmental groups debate new tack in climate-change fight

Mon, 16 Nov 2009 00:00:00 -0800

Washington Post - By David A. Fahrenthold - Nov. 16 (News Report) - A curious debate has broken out among American environmental groups, as the Senate balkily starts to focus on the threat of climate change. Is this really the time to talk about the threat of climate change?

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Nine states pose fiscal threat to US recovery

Wed, 11 Nov 2009 00:00:00 -0800

Financial Times - By Nicole Bullock - Nov. 11 (News Report) - Some of the same financial troubles that have pushed California toward economic disaster are wreaking havoc in nine other states and posing a threat to the nascent recovery, according to research released

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America and the Terrible, Horrible, No Good, Very Bad Jobs Numbers

Sat, 07 Nov 2009 00:00:00 -0800

Atlantic Monthly - By Megan McArdle - Nov. 07 (Opinion) - So headline unemployment now stands at 10.2%, higher than forecast. Another 10 million or so workers are working "part time for economic reasons", meaning they want to work more hours, but can't get them. And 2.4 million are "marginally attached to the labor force"--they have looked for work in the past 12 months, and say they want a job, but have stopped looking too hard because there doesn't seem to be anything out there.

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Evergreen shifts work to China

Sat, 07 Nov 2009 00:00:00 -0800

Boston Globe - By Erin Ailworth - Nov. 07 (News Report) - Little more than a year after cutting the ribbon at a new factory in Devens built with more than $58 million in state aid, Evergreen Solar said yesterday that it will shift its assembly of solar panels from there to China.

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Soaring U.S. Unemployment Threatens Path to Economic Recovery

Sat, 07 Nov 2009 00:00:00 -0800

Bloomberg - By Timothy R. Homan - Nov. 07 (News Report) - The unemployment rate in the U.S. jumped to 10.2 percent in October, the highest level since 1983, threatening the emerging economic recovery and giving President Barack Obama and Democrats a bigger hurdle to overcome before next year’s Congressional elections.

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Obama Faces His Anzio

Fri, 06 Nov 2009 00:00:00 -0800

New York Times - By Paul Krugman - Nov. 06 (Opinion) - President Obama chose a cautious approach rather than bold action on the economy, and the decision may haunt Democrats for years to come.

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Faces of a jobless recovery

Fri, 06 Nov 2009 17:00:00 -0800

Washington Post - Nov. 06 - For Lisa Hall, this is what 10.2 percent unemployment looks like: spending all day at shopping malls going from one store to another in search of a $10-an-hour job, but being constantly told that no one is hiring. For M&M Appliance in Northwest

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Unemployment in U.S. Jumps to 10.2%, Payrolls Fall

Fri, 06 Nov 2009 00:00:00 -0800

Bloomberg - By Timothy R. Homan - Nov. 06 (News Report) - The unemployment rate in the U.S. soared to a 26-year high of 10.2 percent in October and employers cut more jobs than forecast, underscoring why Federal Reserve policy makers say interest rates will remain near zero.

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On the Job

Thu, 05 Nov 2009 00:00:00 -0800

New Republic - By Anthony Wright - Nov. 05 (Opinion) - It’s strange that on-the-job coverage gets relatively little attention in the debate, even though more than half of Americans have health coverage through their employers. That's more than the Americans in programs like Medicaid and Medicare (around a third of the population) and much more than the Americans who buy coverage as individuals (less than a tenth of the population).

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Illinois data on stimulus-related jobs saved, created don't add up

Wed, 04 Nov 2009 00:00:00 -0800

Chicago Tribune - By Bob Secter, Erika Slife - Nov. 04 (News Report) - More than $4.7 million in federal stimulus aid so far has been funneled to schools in North Chicago, and state and federal officials say that money has saved the jobs of 473 teachers. Problem is, the district employs only 290 teachers. "That other number, I don't know where that came from," said Lauri Hakanen, superintendent of North Chicago Community Unit Schools District 187. The Obama administration last week released the first round of data designed to underpin the worthiness of its economic stimulus plan, which so far has directed $1.25 billion to Illinois schools. That money has helped save or create 14,330 school jobs in the state, the administration claimed.

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White House Tally Appears to Overstate Stimulus Jobs

Wed, 04 Nov 2009 00:00:00 -0800

Wall Street Journal - By Louise Radnofsky, Maurice Tamman - Nov. 04 (News Report) - The number of jobs the Obama administration credits to federal stimulus money could be overstated by at least 20,000 of the 640,000 claimed, a Wall Street Journal analysis found. Recipients of the government grants and contracts appear to have made mistakes when estimating the number of jobs that have been saved or created, according to the Journal's review. Some recipients said they were confused by forms that asked how they spent the money.

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Stimulus Watch: Salary raise counted as saved job

Wed, 04 Nov 2009 00:00:00 -0800

Associated Press - By Brett J. Blackledge, Matt Apuzzo - Nov. 04 (News Report) - The government's latest count of stimulus jobs significantly overstates the effects of the $787 billion program under a popular federal preschool program, raising fresh questions about the process the Obama administration is using to tout the success of its economic recovery plan.

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Do stimulus jobs last?

Wed, 04 Nov 2009 00:00:00 -0800

CNN - By Dave Goldman - Nov. 04 (News Report) - Stimulus may have created or saved 640,000 jobs so far, but many of those positions were never intended to last. The American Recovery and Reinvestment Act was designed to put millions of people to work, mainly for "shovel-ready" projects. By their very nature, most of those projects last only until the work is completed or the funding runs out.

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Our Free Market Makes Economic Collapse Inevitable

Mon, 02 Nov 2009 00:00:00 -0800

Bill Moyers Journal - By Bill Moyers, James Galbraith - Nov. 02 (Interview) - The headlines are trumpeting recovery — some are even proclaiming an end to the recession in the United States (unofficially, that is). The US economy grew in the third quarter for the first time in a year. But there are some caveats — although jobless claims dipped slightly, many analysts still warn of a "jobless recovery." for a number of years to come. And then there's the small print — will this recovery be permanent or is it a function of the stimulus masking bigger problems? The Wall Street Journal warned: "The recovery thus far has been heavily supported by federal money, casting a question mark over the economy's underlying strength as government support dwindles." That unease is echoed by JOURNAL guest James K. Galbraith

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Cut Wall Street Out! How States Can Finance Their Own Economic Recovery

Sat, 31 Oct 2009 00:00:00 -0700

TruthOut - By Ellen Brown - Oct. 31 (Investigative Report) - The BND's populist organizers originally conceived of the bank as a credit union-like institution that would free farmers from predatory lenders, but conservative interests later took control and suppressed these commercial lending functions.

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Interview with James Galbraith

Fri, 30 Oct 2009 00:00:00 -0700

TruthOut - By BillMoyers - Oct. 30 (Interview) - We need to find another path for economic expansion. We need to set a strategic direction. Our problem now, our big social and environmental problem, is energy. It's climate change. It's the greenhouse gas emission issue. If we built a set of institutions that could deal with that problem effectively, you could employ a large part of the labor force for a generation, dealing with that. And you'd then make that profitable for private enterprise to get into in a serious way.

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Economy grows by 3.5 percent, signals recession may have ended

Thu, 29 Oct 2009 00:00:00 -0700

Washington Post - By Neil Irwin - Oct. 29 (News Report) - The U.S. economy roared to life in late summer, as gross domestic product rose at a 3.5 percent annual rate in the July through September period. It was the best quarter for growth in two years though analysts warned that it was fueled largely by government recovery programs.

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Senators Slog While Unemployed Suffer

Mon, 26 Oct 2009 00:00:00 -0700

Washington Independent - By Mary Kane - Oct. 26 (News Report) - A protracted and very partisan Senate skirmish has left hundreds of thousands of jobless Americans without unemployment benefits — an impasse that Democrats leaders are hoping to break this week. They have their work cut out.

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