Being the first Friday of the month, the previous month's unemployment numbers come out, and in the case of January 2011, the U-3 (those receiving unemployment benefits) is at 9%, 4 tenths lower than the January report. While on the surface, it sounds like good news, it is not, and one must read into the specifics to see how the government is arriving at these numbers; and it may lead many to accuse the government of "cooking the books." Despite the lower U-3, the numbers leave many questions to be asked, as 36,000 new jobs does not make a recovery. The truth is that many counted under U-3 figures have "given up" looking for work, and as a result, fall under U-6, which is not widely reported, being at 17.3%.
These numbers are very dangerous to our economy and way of life. There are many who are unemployed that are frustrated and would rather work then have the government cut them a check. Among the unemployed are a large number of 20-35 year olds, who overwhelmingly voted for the President in 2008, and I hope they start realize they have been taken advantage of and ask loudly, "Where are the jobs?"
'The "Right" Solutions' has called for tax cuts, in income and capital gains, to ameliorate this situation, as that money not taken by the government could go toward paying additional employees that can be hired. Easy solution, right? Well, for the past two years it seems nobody in Washington has been listening and we hope the Republicans who were elected can force the issue and educate the American people on the benefits of cutting taxes to create jobs.
It seems the only person doing anything about this crisis is Virginia Attorney General Ken Cuccinelli, who is filing a motion to fast track the Virginia Health Care case to the US Supreme Court. The uncertainty that ObamaCare has created is a major factor to the hampering of job creation, so having the Supreme Court take the case up now and rule on it (I believe they will rule it unconstitutional) can provide closure and be a force in allowing for job creation, as thanks to a Republican House, President Obama will never again have the ability to ram through another radical law like ObamaCare.
Friday, February 4, 2011
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