5/31/2011
By Doug Cunningham
Higher gas and food prices and wages that just aren’t keeping up with those rising costs are hurting working family budgets. The U.S. Labor Department says there was a recent uptick in the number of people claiming jobless benefits. But workers don’t need the Labor Department to tell them what’s painfully obvious – the economy isn’t growing nearly fast enough to replace the jobs lost in the recession while creating new ones in the numbers needed. Consumer spending is taking a hit in the face of the high gas prices and there’s no government stimulation of economic demand in the offing. Working families, already reeling by the high joblessness and high prices, have also seen home prices drop again to new post-housing bubble lows.
By Doug Cunningham
Higher gas and food prices and wages that just aren’t keeping up with those rising costs are hurting working family budgets.
The U.S. Labor Department says there was a recent uptick in the number of people claiming jobless benefits. But workers don’t need the Labor Department to tell them what’s painfully obvious – the economy isn’t growing nearly fast enough to replace the jobs lost in the recession while creating new ones in the numbers needed.
Consumer spending is taking a hit in the face of the high gas prices and there’s no government stimulation of economic demand in the offing.
Working families, already reeling by the high joblessness and high prices, have also seen home prices drop again to new post-housing bubble lows.
Why did this happen? America switched horses mid-stream when the GOP controlled 112th congress was seated. The Republicans want to the economic stimulus to fail and to place the burden of the recovery onto middle class America.
It looks like the GOP is succeeding! Debt limits and Medicare Reform won't fix the US economy.
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