The employment figures for April were released today, reporting that the economy barely broke even, creating just 115.000 new jobs… or so the story goes. When broken down between private and public sector job creation, once again, the NET number of new jobs created is dragged down by cuts in the PUBLIC sector (aka: ”government jobs”.) Private companies added 130,000 workers in April, while government spending cuts shrank public sector employment by 15,000. As you can see from the graphic to the left, while the Public Sector has created over 4 million jobs under President Obama, the PUBLIC sector (Federal, State & Local) has CUT over 600,000 jobs. That’s 600,000 fewer paychecks being pumped back into the economy. The worst three years on record for Public Sector layoffs. It seems unlikely to me that the Obama Administration would knowingly slit its own throat like this month after month, so I am presently investigating a theory that I hope to report on very soon. I suspect I will find that Conservative/”Red” states with “austerity-crazy” Republican governors are behind the bulk of the public-sector layoffs, hurting our economic recovery (and by no coincidence, the Obama Administration.)
Two weeks ago, I reported “Just the Facts” on the economic success/failure of the past five presidents. I mentioned that Ronald Reagan was only able to finally reverse the economic slide from a peak unemployment rate of 10.8% by the end of his second year in office through massive public-sector hiring. I still need to provide links confirming this assertion. It’s a loose end and I hate loose ends. But from my own memory, I know this to be true, and believe we are presently seeing that effect in reverse, with the GOP’s insane adherence to this “austerity ideology” that is killing our economy.
Also, starting in March, we saw gas prices leap as talk of military action against Iran was pushed to a near fever pitch by Right-Wing Warhawks eager to start another war now that our military involvement in Iraq is essentially over. The sudden steep rise in gas prices slammed the breaks on an otherwise recovering economy. Oil prices have finally sunk back below $100/barrel due in part to the recent lull in saber-rattling against Iran, coupled with fears of economic contraction from Friday’s jobs report. Lower prices at the pump will (pun intended) “pump” billions back into the economy, and we should start to see improved job growth once again come June.
A few Blog notes: The Commenting system should be fixed now, so ANYONE should be able to post comments to this blog, not just Registered Members. I’m sure this drove plenty of people nuts, as it nearly drove me nuts for over a year hunting down the problem. This should (hopefully) encourage more people to join in the discussions on each topic.
Also of note, I updated many of the side links and encourage you to check them out. Following Arrianna Huffington’s insane criticism of President Obama (yes, irony, the story link is on HuffPo) for using the capture of bin Laden in a campaign video, I have replaced the Blogroll link to the Huffington Post with “Stonekettle Station”… another popular “hobby-blog” and favorite of mine similar to M.R.S. that also exists to point out the hypocrisy and general insanity of the Right.
Check back on Monday for our regular weekly update. – Mugsy
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