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It depends on how much you make.
Bloomberg just published the top income estimates for 2013. It is 1928 all over again….
“the top 300 seeing their collective net worth rise by US$ 524 billion to US $3.7 trillion as 2013 ended,”
Were we to raise taxes on just that increased amount by only 1%…. we’d could cut our deficit by $5 billion dollars. Five billion dollars on the other hand, would pay for 16.7 million weeks of $300 Federal unemployment payments. 1,260,400 are currently waiting on Congress to pass an extension.
Twelve weeks of all their benefits could be covered by a 1% increase of taxes just on 300 people…. How badly will this hurt them? Well, it would be as if you were selling lemonade on the corner for $1 a glass, and some kid only had 99 cents. Sure, you’ll sell it… Point is that $5 billion dollars equals only one penny to these guys…
So why not take 2 pennies? Really? No one pays $1 anymore. Everyone pays 99 cents and discount stores start at 98 cents…
Two pennies would fund unemployment for 24 weeks… Will you take 97 cents for a glass of lemonade? Gee, 36 weeks, Done. Covered… How about 96 cents for an ice cool cup of sweetened Lemonade? Let see, it’s cost is only 16 cents per cup, so.. why not? Done! 48 out of a year’s 52 weeks, covered. Accomplished! Just like that…
And with no bump to deficit either…
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You are smart enough to figure what to do next.
What do these three have in common?
They are the main themes of the News Journal, most progressive blogs and radio talk shows, and Pope Francis….
Since the News Journal came out with their report on jobs in the economy, there has been a shill of shrill callings for education to become the white knight to raise children up from poverty… Pick up a News Journal (paper version preferable)… Op-ed piece: James Butkiewicz; Robert Frost, Letter to The Editor, Phillip Socorso, Letter to The Editor, Bruce W. Lee, Letter to the Editor, Editorial Board writes “Get Ready for Lifetime of Learning.”
Hell, I was even guilty of it myself….”The path out of poverty is a good education and that’s the very thing we are not giving them: a good education.
But there is this idea boiling up pretty much only here in Delaware,with piece, after piece, after piece, that we need good education to grow jobs in Delaware….
Our direction is misplaced.
Good education can’t hurt, but with only a casual glance around the world, one can see the nonsense in connecting good jobs with good education…. Examples? Japan. Japan has the best education around, but has been in a slump for 20 years… Well educated populace does not equal booming economy and full employment. China, although Shanghai has private schools rated rather well, most of the jobs are in the outlaying regions. Places where people work for cheap. Education out there is not as high as we often hear about in Shanghai. Finland is rated as the best for education. It is the model. And yet the Finnish economy is facing industrial restructuring, rising domestic costs and an aging population. If one takes average wages, as a sign of prosperity… the US is on top, followed by Ireland, Luxembourg, Switzerland, and Austrailia.… none of which are touted for their prowess in education.
Not globally astute? Let’s look at domestic, shall we… Top job growth in 2012…?
North Dakota (+ 29)
D.C. (+25)
South Dakota (+21)
Alaska (+19)
Arkansas (+17)
All home to America’s most brilliant minds…. “Can someone please pass the jelly?” All states educated and populated with rocket scientists, all… “Honey, you stay and wash the clothes; I’m going out and shoot me a deer.”
And the worst….
States with the Worst Job Growth
Nevada (-6)
New Jersey (-2)
California (0)
Oregon (+2)
Connecticut (+2)
New Jersey ranks at number 6 according to the NAEP, the nation’s report card. Connecticut was number 20. What about the two top educated states? Massachusetts? Employment peaked in 2001…. Minnesota? It’s lost 24,000 jobs across the past 6 months…
Time to pop that balloon once and for all… Other factors relate to full employment, not education. Luck is a big part of it. Who 5 years ago would know that the upper Midwest would produce more energy than the Middle East? Jobs depend solely on economics; there is no relation to how smart one’s educational system is, and more jobs… Period…. In fact, if one looks at the economic maps showing employment and unemployment, the most prosperous states right now, are all drilling… If you can’t drill, you are suffering….
Why are jobs not being created elsewhere? Actually there is a reason. A very good reason, and it is not, NOT, the quality of one’s education….
Our job’s situation is being hit on two sides with a double whammy…. The first is technology. Machines cost the same as people, and we have the technology to now replace people.. Face it! If you ran a business and the costs were the same, who would you prefer? A machine, of course… “Hello, I’m your machine, and I am so sick, I have to call out today… Yeah, I was up all night and had diarrhea and was throwing up and stuff… Must have been something I ate…. I should be fine tomorrow though… ” said no machine, ever.
And the other, is our intentional cutting away all public sector jobs… Mostly thanks to Republican philosophy…. “We gotta cut the government.”
NO…… We ……. DON’T……
In fact it defies rationality that as our economy was tubing, we were shedding jobs. And now that it is rebounding, we are shedding jobs… Does that makes sense to you? In fact… in an ideal world, where thoughts and ideas could be debated in the open, without being ignored or amplified by the main stream media to achieve their preferred result…. we would have figured this out long ago….
Machines replace people and cause profits of those who are doing the replacing to soar… However, because machines are not moral entities, they don’t know right from wrong. Therefore it will still take people who do have moral judgment to discern the moral qualities behind a certain business…. That was essentially a polite way of saying: we need more inspectors now… We always had people checking up on people. We need people to check up on machines….
As one example. If the London Whale had to be first cleared to make his huge transaction, would it have been made? That type of monitoring across all industries, is sort of what we are talking about…. We need public sector employees to do things like monitor rivers, air, crabs, venereal diseases, and hookers. If no one is monitoring them, what happens? Exactly.
These people need hired, trained, and jobs. But where should the money come from? Silly question… those who have it, of course…..
It is now time for the kavipsian family pizza analogy…. You have a family who is hungry. You put in a Red Baron Pizza, cook it at 425 for 15 minutes, and cut it for 4 people…. Everyone gets enough, but not too much…. That is normal… That describes the baby boomer’s parent’s economic lifestyle… But, it gradually evolved to where the baker person, got to cut his piece first, and the others split what was left… He now takes half, and the others split the other half, getting one sixth, whereas before it was one fourth…. The baker person, gets a whole half… so the pizza is consumed like this: by one half, one sixth, one sixth, and one more sixth… Three people are a little hungry, and the fourth, has too much so he wraps up roughly the left-over quarter he couldn’t eat and puts it into the freezer of the refrigerator, and scrawls his name across the plastic….
Over time, (he never eats them), that freezer fills up, because there is always a new pizza being ordered… always. Everyone else is hungry, and the baker keeps taking his half….
So… finally a change comes… And the other three decide, niceties aside, they have to eat MORE… They change the rules so that pizza being kept in the freezer, gets offered to them… The baker still gets his half off each new… but he gives a slice of frozen pizza to each of those others, and they can microwave it and add that to their one sixth….
All live happily every after… The baker is glad to still be alive, and he keeps his share of pizza… the others are glad they have one sixth and one fourth a pizza with each meal. And the refrigerator slowly empties its inventory…. but it takes a while because the baker is still putting in his quarter of pizza he can’t eat, back into the freezer….
Translated to the economy… It is not socialism. The baker had ownership of what was originally the other three’s shares. He is just essentially paying them back the loan.
If only some of that money that once was used to make jobs, was returned to making jobs again, all would be good… The rich would still get richer (though at a slower pace), and everyone else would get richer …too. Amazingly all levels of income brackets would simultaneously get richer… Wasn’t that once the American dream?
The answer to the capitalists when the backlash come, and it will come, is this: we gave you the opportunity to get wealthy by investing in us, and you turned us down cold… Since you didn’t do it, for our nation’s survival, we have to do it in spite of you… For actually, they very well could have trimmed profits and put much of that money back into their own companies in order to make sure, for instance, that they did not overlook a mistake costing them dearly in the future…. They chose not to and now, well, here we are.
So what we collectively need to say to the capitalists, is that since you have the advantage of the machines who replaced us, we will have to charge you for our public sector jobs now… That is fair. After all, what you made equals exactly what we gave up….
For if something happened, an EMP for instance and none, not one of those machines would work… Suddenly they’d be desperate for workers to make things again… Their loss of profits would be …”oh well, it has to be done this way.” and not…. “what? your taking my, my, my money, and giving it to, to, to, T-H-O-S-E … people???”
Since their loss of money would not affect them in that particular scenario ( they call it a cost of business), we should not worry about how loud they boast it will affect them now… Because you see, in our simplistic illustration, there are three who’ve been quiet this whole time, who desperately need this change to go forward now… They should have yelled, but for some reason, didn’t. Now one loudly complains; three are immensely grateful; two points ahead, it’s a win.
Bottom line. IT IS OUR INEQUALITY THAT IS COSTING US JOBS, MAKING US UNEMPLOYED. It is something we could readily fix… today! Well, maybe not exactly today… but when Congress returns in January.
Raise taxes, by however method you wish, just raise them solely on those who have stolen and fattened their refrigerators with our victuals. We can raise them a lot, if we want a 5 Hour energy economic boost, or, it can be done gradually with Mountain Dew if we wish not to shock the system too much….
With that new money, use roughly half to continue paying down the debt, and roughly the other half to start creating jobs. At which point we hit somewhere near 5% unemployment…. we lift our foot off the accelerator and coast down the highway to a more prosperous America…..
Back to education. Real good education is something we all want, but higher standards imposed on an unwilling young public won’t magically grow jobs. Attacking the inequality that even Pope Francis says is the most important problem mankind now faces, will.
Tax, save half, spend half, and let’s get this party rolling….
I for one, wouldn’t mind partying like its … 1999…..
Now, to answer why….
“‘Five years after excessive debt propelled a housing-market collapse into a financial crisis and recession, similar bets are being placed across the U.S”.
“Total corporate-bond debt has grown to nearly $6 trillion, up 59% since 2007, the year before the financial crisis. … Leverage by companies rated investment grade has risen 20% since 2010 … about 6% higher than in 2008…
In 2008, mutual funds held, on average, 17% of the bonds and 3% of the loans made to junk-grade companies, according to Bank of America. Today, they own about 26% of the bonds and 19% of the loans.
“Assets in mutual funds and exchange-traded funds that invest in junk bonds have grown to $285 billion in July from $92 billion at the end of 2008,”
“‘Many companies are repeating some of the mistakes of the past,’ by taking on too much debt,…”
“Overall corporate health was ‘no better than it was in 2007 and by some measures worse.”
(All quotes culled from Wall Street Journal)
For those that don’t do this all the time, here is how it works….
You buy $100 million dollars of stock X on margin… You pay 50% of the cost or $50 million, owing the remainder $50 million to your broker. The stock value rises to $150 million and you sell it…. You get the $150 million minus the $50 million owed back to your broker… You pocket an extra $50 million on the $50 million you invested… Your $50 million returned a 100% on your investment, congratulations….
If done in cash, you should have paid $100 million, and gained $50 million when sold at $150 million… Wait … is that the same exact total?… Yes, you are right, but your investment only gained 50%… not 100%
This is why borrowing for stocks is up… Worse than it was in 2007-2008?…. Yes. Correct. Despite the Dodd-Frank bill, it is worse now, than in 2007-2008…..
So then what happens if the price of stocks fall….. ???
You bought $100 million of stocks putting $50 million down and borrowing $50 million from your broker… Rule number one: you broker does not lose: you do….
Stocks fall 2%…. Your value is dropped to $98 million. You now owe the broker $2 million on top of the $50 you put down. Stocks fall again, 2%…. You value drops to $96 million. You know owe your broker an additional $2 million you put down… Getting scared? Sell at $96 million and by the time it goes through, you only get $95 million. Since you owed your broker $50 million and only get $45 million, you immediately cut him a check for $5 million dollars…. You originally put up $50 million so your investment cost you…. 10%….
If you paid cash and put the full $100 million up front, your loss to your company would have only been 5%….
So let us imagine this on the volume of the New York Stock Exchange… Where last Friday on the NYSE, $30 billion traded hands (positively for most, fortunately) … Assuming it was a bad day, and everyone was leveraged, on the minimal 5% drop outlined above, America would have to pay an minimal $1.5 billion to their brokers… In other words… Americans who leveraged, would be $1.5 billion poorer just from the NYSE one day drop alone….
At the 16,000 mark, a 5% drop means the DJIA would rest at 15,200…. or where it was back in the middle of this past October…. just 23 trading days ago….. Because of leveraging, that 5% drop means corporate America takes a 10% clip….
I don’t know if you’ve ever taken a loss of 10%, but if you haven’t… let me tell you… one does cut back on spending….
And that, is what makes this chart so scary……….
(Click image to enlarge)
Makes one understand now exactly why the market-rise continues despite the reality of our current economic situation, doesn’t it? Now…..remember what happened when Bernacke said… “Well, eventually this easing will someday have to end.”?
So….. what to do?
Quietly exit… slowly get off the ice so no one notices…. Just be totally off before all the cracking starts…. and the scrambling begins.
Forcing ID’s on people to vote is simply wrong. Every normal American thinks so. Turning away voters who have no ID but are registered, only has one purpose. To misrepresent the vote.
One man in Texas was denied the chance to vote (updated: almost denied)… He was 90 years old and didn’t, and couldn’t while living in a nursing home, get the proper paperwork to get an ID under the new Texas law that was immediately passed after the Supreme Court decision on Affirmative Action.
Problem was this 90 year old man’s driver’s license had expired.. He doesn’t drive anymore except up and down the nursing hall hallways. His second photo ID was a Texas University faculty card, but that is not a legal form of identification in Texas… He doesn’t need a current faculty card to teach his elders in the nursing home.
The crises was solved with his $65 dollar payment to the Texas Department of Vital Statistics and the $35 dollar next day air shipped FED EX package and he now, with a certified copy of his birth, will be able to vote today….
But it caused him to ponder…. worried that others of his age may find the obstacles and inconvenience encountered so off-putting that they just don’t vote.
“Sorry, kids, you’ll have to only eat at school this week. Mommy had to spend $100 to get her right to vote…”
There has never since the Jim Crow laws been a more blatant attempt to rig American elections….
Even if one knows the person, even if that person is obviously the person they purport to be… if there is not current valid ID for that person, they are discouraged from voting….
And everyone knew this man… He was the former Speaker of the US House of Representatives… , Jim Wright…. He had the position John Boehner has now… They wouldn’t let him vote…
In war, when a village is harboring terrorists who can come out at will and shoot at you… you burn down the village. Any Republican I’m afraid, by their allowing the Tea Party to live under their roof, is tainted. America can not grow beyond its current stagnation until every Republican is ousted out of being able to make any of the decisions so necessary to the daily functioning of our lives…..
The tycoon wishes to remain anonymous because he is one of the most solid Republican monetary supporters.
But when asked how he reads this chart, here is his compelling answers….
“Aside from the obvious, that we have had 39 months of continuous private sector job growth, something not seen since the Clinton Era, I suppose the biggest question remains as to “why” the glitches. Why are there parts that drop down in the recovery and seem to go backwards?
Here, let’s just go through the time-line. Let’s start at the bottom of the inverted pyramid… The general climb out of the hole was due to TARP money which jump-started construction projects and the big infusions to banks which kept the economy from falling off the cliff into the pit of no return. It culminated with a big push of Census hiring in March of 2010. Most attention was on Obamacare at that time and with everyone’s lack of attention from the president, congress, and corporate, things languished for several months. Also one must remember that the Republicans looked like they would make big gains in 2010 and turn all Obama’s directives around. That would be very bad if it were so, and no one sank any money into investment until the election determined things.
Those who figured Obama would win, (Northeast and California) invested heavily in October only to be mistaken and with the Tea Party rattling their sabers upon their win, no one invested anything at all. We all thought the economy would crash and burn again. Up until the election we fully expected the Bush Tax Cuts to be eradicated, so our goals had been to move our funds over into areas where they would not be taxed, primarily investment into our own companies. As the tax laws became extended, many of us were not in the right zone at the right time to take advantage of the two year grace period that tends to better reward those investing in liquid assets as opposed to longer term job creating ones.
By 2011, in February we realized the Tea Party was nothing but a boil, a cyst, a sham, and things would hold current at a status quo. February, March, and April we made plans to go forward and grow. Then in May, the first debt crises occurred and shocked, we all pulled back. The Tea Party did not vote on its unceremonious raise and emergency measures were begun to be implemented by the Federal Treasury. In June, we rode our previous success fully betting that no one, not even the Tea Party would be foolish enough to destroy America’s credit rating for their own political gain. By July, we knew we were horribly wrong. We pulled back on every investment option we possibly could.
The Grand Design ($4 Trillion Budget Arrangement) never did come about. If it had we would have thrown everything into getting on the ground floor of the next boom. But by August 2011 we were confident enough to begin putting some of our extra money now trickling in over to self-investment and it continued straight through January 2012.
That was when Republicans began their Primary campaign in earnest and the Democrats were silent by having no primary or no opponent to which to reply; all bets were that the Democrats were very vulnerable. In fact, it looked like it could be a clean sweep of both Houses and the Executive. This would mean all new investment was futile. The Fed would raise interest rates according to all these Republicans against soft money, costing banks billions and overall investment would slow to a crawl. This slide lasted until the juxtaposition of the two party conventions back to back, which gave us all a clear idea of who would win. I mean who would you want behind the shoulder advising the policy of the next president: Bill Clinton or Clint Eastwood? The fruits of our investments through Sept and Oct. paid off through November and December. Although we too had quite a scare after the first debate.
Then came the Sequester. It is hard to remember now that we really thought we were going off a cliff back then. Once settled, January’s hiring was alread done but February received the spike of top money shifting from taxable investments over to job producing non-taxable investments. The stock market jumped as world money became content that America had finally finished with its infatuation that the top 1% carry the economy as a whole and should be taxed less, jumped back in. Problems in China and Europe made sure we were the world’s safest investment at the time.
Currently it appears that our entire economy has matured in 2013… if anyone looks at the chart, you see that the spike in February almost perfectly cancels out the dips in January and March, and that the average across all 6 months is very consistent, almost the same number.
In fact, we have plateaued. This is where our economy is right now, growing steadily with population growth and nothing more. There is nothing any more that anyone can do to increase private sector hiring.
Nothing will change I figure until the House of Representatives gets enough democrats and government hiring can begin anew.”
“Oh” I said, “so now you are a Democratic supporter?” lol.
“NEVER!” he responded. “However I’ll admit that Republicans are absolutely worthless when it comes to growing economies.”
And there, you have “the rest of the story….”
Not likely one would say today. But, hear me out. This session the corporate financial targets that got hit, all missed their revenue. That means people did not spend as was planned, but some fat on the corporate skeleton could be cut to compensate. That fat is not there for the next report…
The economy has taken a shock from $85 billion sequestered despite only $10 billion having been applied already. The $75 billion cuts are coming.
Even though the US market is the only safe place to put ones money today, the rest of the world is as unsafe as ever. Since there is no where else to go with one’s money if he US market dives,… panic will begin very quickly….
The possibility is rather good for a 30-50% correction in the US Stock market. I would still stay out and remain in Treasuries if I were you….
So, you who have put your faith and service into the United States of America, who have sacrificed a lot for principle, and enlisted or volunteered in the armed forces, are now, about to get a 20% cut in pay?
- How will your family live?
- How will you pay your bills?
- How long until the Sheriff puts your home up for auction?
And why it this?
Because Republicans don’t want billionaires to pay one more penny per dollar earned on all income OVER a million dollars……...
There is no other reason you are taking a 20% cut in pay for serving your nation in the most patriotic fashion….
You just got bumped by millionaires…. Thanks to the Republican Party of the United States of America……
So, how do you feel now?
Courtesy of Wikipedia.
After all the bluster dies down, Historians will revisit this era and come to this conclusion.
In order not to tax the top 1% an additional $85 billion dollars, the 99% was made to suffer for it….
Cost = $85 billion.
Let us compare that to wealth, not income, to see how that $85 billion stacks up….
The current household wealth of the United States is listed between $64 and $65 trillion dollars…. We are going to draw the line at at the top 20% and bottom 80% of the population.
The top 20% owns 89.9% of the nation’s wealth. The bottom 80% owns 11.1%…. In dollars that stacks up as follows:
- Top 20% owns $58 Trillion in net worth.
- Bottom 80% has $ 7 Trillion of net worth.
Ok. now we have the dollar figures. Let us break down the population. Since we are dealing with government services we must assume that affects everyone, so we are going to use the 315 million population figure for our calculations.
- Top 20% of population equals 63 million people.
- Bottom 80% of population equals 252 million people.
So now let us see how that works out per person. For both income levels we are going to divide the total wealth by the total persons and get the total wealth per person…
- 58 Trillion divided by 63 million people gives a per person average of…$841,269 per citizen.
- 7 Trillion divided by 252 million people gives a per person average of … $27,777 dollars per citizen.
Ok so here is what historians will find. If we tax the existing revenue for the $85 billion difference it will only hit the top group of 20%… If we sequester or cut out of our national budget, it will only hit those in the bottom 80%…
To see what the average hit will cost, we will take the $85 billion and divide it among the number of people in that income range. Then later we will apply that to their wealth and see who has the greater and who has the less percentage…
- $85 Billion sequestered spread over 63 million 20%’ers comes to $1349 each.
- $85 Billion sequestered out of the 252 million 80%ers comes to a tiny…. $337 each…
So here is the fun part.
- That $1349 is this percent of $841,269… 0.16% of one percent.
- That $337 is this percent of $27,777…. 1.2 percent…
Each person in the bottom 80% is paying roughly 8 times more of a burden to their wealth than paid by those in the top 20%……. When our economy fails and historians look back and say, didn’t anyone crunch the numbers? Well, yes? Someone did..
And if fairness is truly an America virtue, then once we know that a 8 to 1 ratio exists, it become easy to figure out how to divide the costs equally… (8x +1x = $85B) then we should have a tax hike of $75 billion and sequester or cut of $10 billion to give every America an equal percentage bite out of their wealth….
By now, everyone knows the Republicans are the ones who created the sequester. So let us look at what they did to us,here living in both the first state and second smallest state.
If sequestration were to take effect, some examples of the impacts on Delaware this year alone are:
Teachers and Schools Delaware will lose approximately $1.4 million in funding for primary and secondary education, putting around 20 teacher and aide jobs at risk. In addition about 2,000 fewer students would be served and approximately 4 fewer schools would receive funding.
Education for Children with Disabilities: In addition, Delaware will lose approximately $1.8 million in funds for about 20 teachers, aides, and staff who help children with disabilities.
Work-Study Jobs:Around 150 fewer low income students in Delaware would receive aid to help them finance the costs of college and around 50 fewer students will get work-study jobs that help them pay for college.
Head Start: Head Start and Early Head Start services would be eliminated for approximately 100 children in Delaware, reducing access to critical early education.
Protections for Clean Air and Clean Water Delaware would lose about $1.1 million in environmental funding to ensure clean water and air quality, as well as prevent pollution from pesticides and hazardous waste. In addition, Delaware would lose another $359,000 in grants for fish and wildlife protection.
Military Readiness:In Delaware, approximately 2,000 civilian Department of Defense employees would be furloughed, reducing gross pay by around $7.6 million in total. Army: Base operation funding would be cut by about $0.6 million in Delaware. Air Force: Funding for Air Force operations in Delaware would be cut by about $1 million.
Law Enforcement and Public Safety Funds for Crime Prevention and Prosecution: Delaware
will lose about $83,000 in Justice Assistance Grants that support law enforcement, prosecution and courts, crime prevention and education, corrections and community corrections, drug treatment and enforcement, and crime victim and witness initiatives.
Job Search Assistance to Help those in Delaware find Employment and Training: Delaware
will lose about $86,000 in funding for job search assistance, referral, and placement, meaning around 3,230 fewer people will get the help and skills they need to find employment.
Child Care:Up to 100 disadvantaged and vulnerable children could lose access to child care, which is also essential for working parents to hold down a job.
Vaccines for Children: In Delaware around 380 fewer children will receive vaccines for diseases such as measles, mumps, rubella, tetanus, whooping cough, influenza, and Hepatitis B due to reduced funding for vaccinations of about $26,000.
Public Health Delaware will lose approximately $86,000 in funds to help upgrade its ability to respond to public health threats including infectious diseases, natural disasters, and biological, chemical, nuclear, and radiological events. In addition, Delaware will lose about $330,000 in grants to help prevent and treat substance abuse, resulting in around 400 fewer admissions to substance abuse programs. And the Delaware Division of Public Health will lose about $70,000 resulting in
around 1,800 fewer HIV tests.
STOP Violence Against Women Program Delaware could lose up to $19,000 in funds that provide services to victims of domestic violence, resulting in up to 100 fewer victims being served.
Nutrition Assistance for Seniors: Delaware would lose approximately $201,000 in funds that provide meals for seniors.
Delaware loses 15.1 million at least in funding forever if the sequester goes through….
Not only is that money lost, but the ripple effect impounds and deepens that loss. With every loss of a government job, there is a loss of a .67 of a private sector job…. The predicted loss or 700,000 jobs in March will be accompanied by 469,000 in the private sector….
Roughly Republicans driving us over the cliff, will put another 1.2 million Americans out of work…. again…..
And if you read Republican blogs like this one, they are laughing and laughing at how bad they are going to hurt America, how they are going to teach us all a lesson because we didn’t vote for their billionaire president….. They are smirking over the hardship and suffering everyone else will be living…
The Dow Jones fell 216 points or 1.6%.
Because of no new news on any movement by the Republicans in regards to the sequester.
kavips 