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Tuesday, October 7, 2008
Private sector economy loses jobs; government gains (what is wrong with this picture?)
Ok-get this-YOUR government payroll rose by 9,000 jobs in the month of September. (your tax dollars at work). The American economy lost 159,000 jobs in September, the worst in five years (according to NY Times article). What is wrong with this picture?
Lehman Brothers paid off executives with millions of dollars as it pleaded for federal bailout. This information comes as Congress began investigating what went so wrong on Wall Street to prompt a $700 billion government bailout?!
An ex-scientist, former Goldman Sachs executive is leading the bailout program at Treasury. Before drafting the legislation, he worked with Rockets!
Can someone explain all this to me?
October 7th, 2008 at 2:21 pm
In putting government jobs against private sector employment, you operate with a simplistic zero-sum formula, but the dynamics of the interaction are much more complex, and certainly are worth your attention. We all want private sector jobs to grow, but the meltdown of the housing market and crisis in finance make government regulation and intervention necesary. Those who invidiously and superficially oppose private to public are living in an ideological dreamland
October 7th, 2008 at 2:34 pm
We are starting the whole process all over again. The bailout will be used to extend mortgages, reduce interest rates and principal payments. This will only be a bandaid/delay approach to a future point in time where we have again the same problem but of greater portion. The only savior in this process that can possible save “the bailout” is escalation of values over a future coarse in time.
October 7th, 2008 at 6:38 pm
All the negative data scares a lot of people but If you look you will still find all kinds of jobs posted on employment sites for those looking.
http://www.linkedin.com (networking)
http://www.indeed.com (aggregated listings)
http://www.realmatch.com (matches you to jobs)
good luck to those searching for jobs.
October 7th, 2008 at 11:05 pm
I am against the bail out. Why? It has not worked before and it is silly to keep trying the same procedure and hoping for a different result. The answer is the same. A quick fix is given for a short period of time and then back to square one. I think we should let the private sector correct their mistakes and solve this mess.
October 8th, 2008 at 1:40 pm
$700Billion Bailout is certainly a bandaid to a bleeding nations’ economic well fare. When the senate and house of representatives passed the bill last Friday the following happened. All the senators and legislators patted one another on the shoulder and quoted ‘we came together to perform open heart surgery’ - we’ll that is an overstatement. Basically our small business is barely able to float and as a small business owner I just accepted a huge paycut to return to work on Monday. The monies will barely cover our escalating costs to live and work in NJ. We pay the highest of everything to government. So…I ask you when does it stop? When do we as americans say enough is enough? WHY are we paying so much monies to government and weakening our ability to work and live in the US? Pretty soon you’ll have no one in the private sector working because they are driving all of us out of business. If anyone knows of a government job - please let me know that seems to be the only place you can make a buck and have no accountability.
October 29th, 2008 at 12:29 pm
I’ll never understand why Bush didn’t reduce the size of non-security government. The only major departments that had increases in their budget during the Clinton years was the Post Office and the Justice Dept. The cost of government per capita was the lowest since JFK. Now it’s the highest since WWII and we are losing two wars!