Jobs

[Dugout DickStone]

Serious question, for the amount of the stimulus why NOT just hire a ton of unemployed people for $15/HR?  Seems we could hire everyone who is unemployed, right?

That's what a stimulus bill actually is. Republicans wouldn't pass it without more than 1/3 of it being tax cuts.

Indirectly.  I'm talking about taking that $700 billion (or whatever) and opening an office in each city which interviews and hires people who are unemployed.  Puts them to work doing what every city needs done according to their qualifications.

How many people are currently unemployed?  I would expect this would make a huge dent.

right.  except he isn't emperor so it would have to pass through both houses.

And it could have cleared the House fairly easily. Zombie Kennedy was still alive when the stimulus passed so Senate Democrats had a super majority and still caved to Republicans like the pussies they are.

The idea of a stimulus is to build crap, mainly infrastructure that lasts like the WPA park in my home town that still uses all the original buildings, including the swimming pool, football stadium, recreational lake etc. Yep, that sure was a huge waste of money since all those things are still being used 80 years later.

Let's get a better beach at Tuttle. 

Seriously though, what is our current unemployed number and how long could 700 billion pay them for working?

PS.  I know we need raw materials and stuff.  I guess my issue kind of comes down to: what is the cost of each job created vs. just give that person that much $$ to do some BS work.

[EllToPay]

[bonercat]

 :powerespect:

[Sugar Dick]

WASHINGTON (Reuters) – House Republican leader John Boehner on Tuesday called for the resignation of President Barack Obama's embattled economic team, including Treasury Secretary Timothy Geithner and White House economic adviser Larry Summers.

"It's time to put grown-ups in charge. It's time for people willing to accept responsibility," Boehner declared in remarks prepared for delivery in a speech in Cleveland.

Boehner made his call for a "fresh start" on the economy 10 weeks before the November 2 congressional elections that have been dominated by the sour U.S. economy and near double-digit jobless rate. Republicans are expected to make inroads on the big majorities held by Obama's Democrats in the House of Representatives and the Senate.

"President Obama should ask for -- and accept -- the resignations of the remaining members of his economic team, starting with Secretary Geithner and Larry Summers, the head of the National Economic Council," Boehner said.

Obama was certain to dismiss Boehner's call to replace his fiscal team.

Obama and his economic advisers have been criticized for failing to reduce the jobless rate of 9.5 percent, which they have sought to blame on his predecessor, Republican President George W. Bush.

If Republicans take control of the House, Boehner is in position to be elected as speaker, a post that would make him the chamber's presiding officer and in charge of setting its agenda.

More bad U.S. economic data last week heightened concerns about a return to recession. Claims for new unemployment claims rose to a nine-month high and manufacturing activity in the U.S. mid-Atlantic region unexpectedly contracted.

Boehner has been a leading critic of Obama's agenda, including his overhaul of the U.S. healthcare system, tightening of regulation on the financial industry and what Republicans' denounce as his failed economic stimulus plan. He has no power to compel replacement of Obama's team.

[Jeffy]

http://globaleconomicanalysis.blogspot.com/2010/08/3rd-quarter-gdp-likely-negative.html

Our suspicions have been confirmed — the recession never ended. Macroeconomic Advisers produces a monthly U.S. real GDP series and it shows that the peak was in April, as we expected, with both May and June down 0.4% in the worst back-to-back performance since the economy was crying Uncle! back in the depths of despair in September-October 2008.

The quarterly data show that Q2 stands at a +1.1% annual rate (so look for a steep downward revision for last quarter) and the “build in” for Q3 is -1.5% at an annual rate. Depending on the data flow through the July-September period, it looks like we could see a -0.5% to -1% annualized pace for the current quarter. Most economists have cut their forecasts but are still in a +2.5% to +3.5% range. What is truly amazing is that despite all the fiscal, monetary, and bailout stimulus, the level of real economy activity, as per the M.A. monthly data, is still 2.5% below the prior peak. To put this fact into context, the entire peak to trough contraction in the 2001 recession was 1.3%! That is incredible.

[michigancat]

WASHINGTON (Reuters) – House Republican leader John Boehner on Tuesday called for the resignation of President Barack Obama's embattled economic team, including Treasury Secretary Timothy Geithner and White House economic adviser Larry Summers.

"It's time to put grown-ups in charge. It's time for people willing to accept responsibility," Boehner declared in remarks prepared for delivery in a speech in Cleveland.

Boehner made his call for a "fresh start" on the economy 10 weeks before the November 2 congressional elections that have been dominated by the sour U.S. economy and near double-digit jobless rate. Republicans are expected to make inroads on the big majorities held by Obama's Democrats in the House of Representatives and the Senate.

"President Obama should ask for -- and accept -- the resignations of the remaining members of his economic team, starting with Secretary Geithner and Larry Summers, the head of the National Economic Council," Boehner said.

Obama was certain to dismiss Boehner's call to replace his fiscal team.

Obama and his economic advisers have been criticized for failing to reduce the jobless rate of 9.5 percent, which they have sought to blame on his predecessor, Republican President George W. Bush.

If Republicans take control of the House, Boehner is in position to be elected as speaker, a post that would make him the chamber's presiding officer and in charge of setting its agenda.

More bad U.S. economic data last week heightened concerns about a return to recession. Claims for new unemployment claims rose to a nine-month high and manufacturing activity in the U.S. mid-Atlantic region unexpectedly contracted.

Boehner has been a leading critic of Obama's agenda, including his overhaul of the U.S. healthcare system, tightening of regulation on the financial industry and what Republicans' denounce as his failed economic stimulus plan. He has no power to compel replacement of Obama's team.

It's a shame that this nonsense will be better for him politically than putting out some real ideas.  Oh, well.

[Jeffy]

WASHINGTON (Reuters) – House Republican leader John Boehner on Tuesday called for the resignation of President Barack Obama's embattled economic team, including Treasury Secretary Timothy Geithner and White House economic adviser Larry Summers.

"It's time to put grown-ups in charge. It's time for people willing to accept responsibility," Boehner declared in remarks prepared for delivery in a speech in Cleveland.

Boehner made his call for a "fresh start" on the economy 10 weeks before the November 2 congressional elections that have been dominated by the sour U.S. economy and near double-digit jobless rate. Republicans are expected to make inroads on the big majorities held by Obama's Democrats in the House of Representatives and the Senate.

"President Obama should ask for -- and accept -- the resignations of the remaining members of his economic team, starting with Secretary Geithner and Larry Summers, the head of the National Economic Council," Boehner said.

Obama was certain to dismiss Boehner's call to replace his fiscal team.

Obama and his economic advisers have been criticized for failing to reduce the jobless rate of 9.5 percent, which they have sought to blame on his predecessor, Republican President George W. Bush.

If Republicans take control of the House, Boehner is in position to be elected as speaker, a post that would make him the chamber's presiding officer and in charge of setting its agenda.

More bad U.S. economic data last week heightened concerns about a return to recession. Claims for new unemployment claims rose to a nine-month high and manufacturing activity in the U.S. mid-Atlantic region unexpectedly contracted.

Boehner has been a leading critic of Obama's agenda, including his overhaul of the U.S. healthcare system, tightening of regulation on the financial industry and what Republicans' denounce as his failed economic stimulus plan. He has no power to compel replacement of Obama's team.

It's a shame that this nonsense will be better for him politically than putting out some real ideas.  Oh, well.

 

http://gopleader.gov/News/DocumentSingle.aspx?DocumentID=109280

http://www.youtube.com/v/Yi4x_viEfXk&hl=en&fs=1&color1=0x2b405b&color2=0x6b8ab6&border=1

[sonofdaxjones]

Ah yes, now the administration of blame and excuses and their legions of useful idiots have fallen completely into, "but, but they don't have any ideas" mode.   In other words they're completely flailing at this juncture.   In addition, to date, the current Whitehouse economic team hasn't exactly been what I would call open to any other "ideas" and neither has the idiot majority leadership in Congress shown any real proclivity to listening to alternative plans.    

[michigancat]

WASHINGTON (Reuters) – House Republican leader John Boehner on Tuesday called for the resignation of President Barack Obama's embattled economic team, including Treasury Secretary Timothy Geithner and White House economic adviser Larry Summers.

"It's time to put grown-ups in charge. It's time for people willing to accept responsibility," Boehner declared in remarks prepared for delivery in a speech in Cleveland.

Boehner made his call for a "fresh start" on the economy 10 weeks before the November 2 congressional elections that have been dominated by the sour U.S. economy and near double-digit jobless rate. Republicans are expected to make inroads on the big majorities held by Obama's Democrats in the House of Representatives and the Senate.

"President Obama should ask for -- and accept -- the resignations of the remaining members of his economic team, starting with Secretary Geithner and Larry Summers, the head of the National Economic Council," Boehner said.

Obama was certain to dismiss Boehner's call to replace his fiscal team.

Obama and his economic advisers have been criticized for failing to reduce the jobless rate of 9.5 percent, which they have sought to blame on his predecessor, Republican President George W. Bush.

If Republicans take control of the House, Boehner is in position to be elected as speaker, a post that would make him the chamber's presiding officer and in charge of setting its agenda.

More bad U.S. economic data last week heightened concerns about a return to recession. Claims for new unemployment claims rose to a nine-month high and manufacturing activity in the U.S. mid-Atlantic region unexpectedly contracted.

Boehner has been a leading critic of Obama's agenda, including his overhaul of the U.S. healthcare system, tightening of regulation on the financial industry and what Republicans' denounce as his failed economic stimulus plan. He has no power to compel replacement of Obama's team.

It's a shame that this nonsense will be better for him politically than putting out some real ideas.  Oh, well.

 

http://gopleader.gov/News/DocumentSingle.aspx?DocumentID=109280

http://www.youtube.com/v/Yi4x_viEfXk&hl=en&fs=1&color1=0x2b405b&color2=0x6b8ab6&border=1

That's from January of 09. 

Or his he still proposing another home-buying credit? 

[Jeffy]

WASHINGTON (Reuters) – House Republican leader John Boehner on Tuesday called for the resignation of President Barack Obama's embattled economic team, including Treasury Secretary Timothy Geithner and White House economic adviser Larry Summers.

"It's time to put grown-ups in charge. It's time for people willing to accept responsibility," Boehner declared in remarks prepared for delivery in a speech in Cleveland.

Boehner made his call for a "fresh start" on the economy 10 weeks before the November 2 congressional elections that have been dominated by the sour U.S. economy and near double-digit jobless rate. Republicans are expected to make inroads on the big majorities held by Obama's Democrats in the House of Representatives and the Senate.

"President Obama should ask for -- and accept -- the resignations of the remaining members of his economic team, starting with Secretary Geithner and Larry Summers, the head of the National Economic Council," Boehner said.

Obama was certain to dismiss Boehner's call to replace his fiscal team.

Obama and his economic advisers have been criticized for failing to reduce the jobless rate of 9.5 percent, which they have sought to blame on his predecessor, Republican President George W. Bush.

If Republicans take control of the House, Boehner is in position to be elected as speaker, a post that would make him the chamber's presiding officer and in charge of setting its agenda.

More bad U.S. economic data last week heightened concerns about a return to recession. Claims for new unemployment claims rose to a nine-month high and manufacturing activity in the U.S. mid-Atlantic region unexpectedly contracted.

Boehner has been a leading critic of Obama's agenda, including his overhaul of the U.S. healthcare system, tightening of regulation on the financial industry and what Republicans' denounce as his failed economic stimulus plan. He has no power to compel replacement of Obama's team.

It's a shame that this nonsense will be better for him politically than putting out some real ideas.  Oh, well.

 

http://gopleader.gov/News/DocumentSingle.aspx?DocumentID=109280

http://www.youtube.com/v/Yi4x_viEfXk&hl=en&fs=1&color1=0x2b405b&color2=0x6b8ab6&border=1

That's from January of 09. 

Or his he still proposing another home-buying credit? 

That's from 3 seconds of Google.  I'm sure you can do a whole lot better in your free time as opposed to just spouting off the typical nutroot talking point of "Republicans haven't proposed anything."

[Sugar Dick]

WASHINGTON (Reuters) – House Republican leader John Boehner on Tuesday called for the resignation of President Barack Obama's embattled economic team, including Treasury Secretary Timothy Geithner and White House economic adviser Larry Summers.

"It's time to put grown-ups in charge. It's time for people willing to accept responsibility," Boehner declared in remarks prepared for delivery in a speech in Cleveland.

Boehner made his call for a "fresh start" on the economy 10 weeks before the November 2 congressional elections that have been dominated by the sour U.S. economy and near double-digit jobless rate. Republicans are expected to make inroads on the big majorities held by Obama's Democrats in the House of Representatives and the Senate.

"President Obama should ask for -- and accept -- the resignations of the remaining members of his economic team, starting with Secretary Geithner and Larry Summers, the head of the National Economic Council," Boehner said.

Obama was certain to dismiss Boehner's call to replace his fiscal team.

Obama and his economic advisers have been criticized for failing to reduce the jobless rate of 9.5 percent, which they have sought to blame on his predecessor, Republican President George W. Bush.

If Republicans take control of the House, Boehner is in position to be elected as speaker, a post that would make him the chamber's presiding officer and in charge of setting its agenda.

More bad U.S. economic data last week heightened concerns about a return to recession. Claims for new unemployment claims rose to a nine-month high and manufacturing activity in the U.S. mid-Atlantic region unexpectedly contracted.

Boehner has been a leading critic of Obama's agenda, including his overhaul of the U.S. healthcare system, tightening of regulation on the financial industry and what Republicans' denounce as his failed economic stimulus plan. He has no power to compel replacement of Obama's team.

It's a shame that this nonsense will be better for him politically than putting out some real ideas.  Oh, well.

 



I expect at least one accusation of racism or bigotry to go along with these canned responses   

[Sugar Dick]

WASHINGTON (Reuters) – House Republican leader John Boehner on Tuesday called for the resignation of President Barack Obama's embattled economic team, including Treasury Secretary Timothy Geithner and White House economic adviser Larry Summers.

"It's time to put grown-ups in charge. It's time for people willing to accept responsibility," Boehner declared in remarks prepared for delivery in a speech in Cleveland.

Boehner made his call for a "fresh start" on the economy 10 weeks before the November 2 congressional elections that have been dominated by the sour U.S. economy and near double-digit jobless rate. Republicans are expected to make inroads on the big majorities held by Obama's Democrats in the House of Representatives and the Senate.

"President Obama should ask for -- and accept -- the resignations of the remaining members of his economic team, starting with Secretary Geithner and Larry Summers, the head of the National Economic Council," Boehner said.

Obama was certain to dismiss Boehner's call to replace his fiscal team.

Obama and his economic advisers have been criticized for failing to reduce the jobless rate of 9.5 percent, which they have sought to blame on his predecessor, Republican President George W. Bush.

If Republicans take control of the House, Boehner is in position to be elected as speaker, a post that would make him the chamber's presiding officer and in charge of setting its agenda.

More bad U.S. economic data last week heightened concerns about a return to recession. Claims for new unemployment claims rose to a nine-month high and manufacturing activity in the U.S. mid-Atlantic region unexpectedly contracted.

Boehner has been a leading critic of Obama's agenda, including his overhaul of the U.S. healthcare system, tightening of regulation on the financial industry and what Republicans' denounce as his failed economic stimulus plan. He has no power to compel replacement of Obama's team.

It's a shame that this nonsense will be better for him politically than putting out some real ideas.  Oh, well.

My michicat impersonation:

"It seems like getting rid of the current economic team is a real idea to help the economy "

[michigancat]

That's from 3 seconds of Google.  I'm sure you can do a whole lot better in your free time as opposed to just spouting off the typical nutroot talking point of "Republicans haven't proposed anything."

You're completely missing my point.  Did you read my original post?

[Sugar Dick]

intrade.com

People buying elephant in the house

http://data.intrade.com/graphing/jsp/closingPricesForm.jsp?tradeURL=https://www.intrade.com&contractId=639646

[Sugar Dick]

More rosey news

The ADP Employment Change Report showed private sector payrolls declined by 10,000 jobs in August, compared to the forecast of economists surveyed by Bloomberg, which called for a 15,000 increase, and July's 42,000 job increase was downwardly revised to a 37,000 gain. The release does not include government hiring and firing and comes ahead of Friday's broader nonfarm payrolls report, where economists expect a decrease of 100,000 in August, after falling 131,000 in July. Excluding government hiring, August private sector payrolls are expected to increase 42,000, after expanding by a disappointing 71,000 in July.

Obama = Epic Fail

[Sugar Dick]

Here's what passes for "good news" these days:

   
Nonfarm payrolls fell by 54,000 jobs in August, a smaller drop than the consensus estimate of economists surveyed by Bloomberg, which forecasted a 105,000 decline. Additionally, excluding government hiring, private sector payrolls increased by 67,000, versus the forecast of a gain of 40,000, after expanding by an upwardly revised 107,000-from an initially reported 71,000 gain-in July. The unemployment rate rose to 9.6% from 9.5% the previous month, matching expectations. Average hourly earnings increased by 0.3% month-over-month (m/m) versus the Street's forecast of a 0.1% increase, and average weekly hours remained at 34.2, as expected. Government payrolls fell by 121,000 as Census employment dropped by 114,000 temporary workers. Treasuries are lower after losing ground following the report.

I guess when you're forced to adjust your expectations to account for a disastrous president and his disastrous economic team you can find always find a "silver lining".

[sonofdaxjones]

Excellent article in all places "Time" . . . talking about how this administration has AD-D and even people who voted for them are sick of it.   Essentially completely unable to focus on the primary ills of the country and only interested in advancing their own unpopular agenda.   Now they have the internal battle and wanting to stay the course.   They even bring up, of all things . . . gasp . . . Reagan, and how unpopular he was during his first 2 years, but he "stayed the course".   The difference being that Reagan was considered far more business friendly than this administration.   

It does appear that they are maybe finely getting it . . . and are considering some significant tax cuts for business.   It's the economy stupid.