The new jobless numbers are out, and they are worse than expected:
- Unemployment rate: 7.6%
- Jobs Lost In January: 598,000 (the most since 1974)
- Jobs Lost Last 12 Months: 3.5 Million
- Unemployed Workers: 11.6 million*
A note about unemployed workers – this number does not include the so-called “underemployed” number (nor does the unemployment rate). These are people who now have to work part time, and if you consider that in the number is most likely more than 20 million.
So yesterday we saw the Republicans grand standing all day. They want America to trust them on the economy, even though these numbers were generated by a Republican president. Orin Hatch was saying the way to stimulus is through corporate tax cuts. We have heard this same thing for going on three decades and every time we have tried it our economy tanks. I’m sorry but even a child knows if he touches a hot stove and gets burned, don’t touch it again. The Republicans just can not learn. That’s the kind of mentality we have standing in the way of our economy getting better – one that doesn’t even rival a child.