August 7th, 2010

Inspired by Job losses fueling recovery concerns: Analysts fear economic stall (Washington Post 8/07/10) and Rachel’s report last night (watch it below).

The good news is that private companies added 71 thousand jobs in July.

The bad news is that 202 thousand government jobs said goodbye.

The combination resulted in a loss of 131 thousand,

Leading to doubts about when the Great Bush Recession will end.

But I must admit this latest turn of events isn’t all Bush’s fault—

A big part of the loss is the Party of No’s endless assault.

This year, about a quarter million public sector jobs have been lost,

And the recession is expected another quarter million to cost.

That’s a half million jobs, mostly at the state and local level,

A loss that any economist would bedevil.

The Party of No is joyful when it any government spending stops,

But those half million jobs were firefighters, road crews, teachers, and cops.

They’re people are performing crucial functions,

Yet the Party of No writes them off without any compunctions.

When a recession hits, revenues drop,

And state and local governments are forced, much of their spending to stop.

That’s where the Feds stepped in with the stimulus bill

To help state and local governments avoid that poison pill.

But why then, you ask, did all those layoffs take place?

Is this another failed Obama policy disgrace?

The state and local layoffs happened because the funding was blocked

By the same Republicans that by these job losses now pretend to be shocked.

Where governments are bloated, forced layoffs can have a positive effect

(Something Republicans believe is always true, I suspect).

But many of those jobs are basic services and will get filled again in a few years,

So any long term benefit of cutting them now disappears.

All that’s then left is the short term pain,

The pro-cyclical impact nullifying any economic gain.

State and local workers that previously paid taxes and spent

Are now forced to collect unemployment.

The public sector job loss has a multiplier effect:

A half million jobs lost means many others feel the effect.

The businesses that supplied those ex-workers with services and goods

Now find themselves in the economic woods.

They layoff their employees as business dries up.

Local revenues drop further, and unemployment goes up

Rising unemployment costs put more pressure on the public purse.

The vicious cycle continues, and things get worse and worse.

And it’s all because the Party of No

To win elections to any length will go.

They actively hope that the economy stays bad

So people are suffering and at the government mad.

But $3.4 trillion more in deficits they embrace,

To renew tax cuts for the wealthiest people (their base).

***

Here’s Rachel’s 8/06/10 report.

Visit msnbc.com for breaking news, world news, and news about the economy

No, George Bush isn’t president anymore, but the GOP is still pursuing the same policies that bled the country dry in order to benefit their supporters. Have you forgotten what it was like? Then watch this clip from Fahrenheit 911 for a reminder.

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Comments

3 Responses to “It’s the Economy, Stupid (or: D for Drive, R for Reverse)”

1. Flyer0731 Says:
   August 9th, 2010 at 2:33 pm

   This is a good example of the “confidence game”, and I am afraid it will work this Fall. I believe few people are aware of the Republican blocking of unemployment extension and aid to states and cities so they do not have to lay off teachers, cops and firefighters. How can democrats get that word out ? It is perhaps one of the greatest challenges of this Fall. And how can democrats get their own base out in any force ? That,too, is an enormous challenge, as there appears little excitement among the democratic base. Do they realize what a divided congress will mean ? Do they realize it is the end of accomplishments for years to come ? Do they understand the endless investigations and drummed up accusations that will result when Republicans control House comittees?
   I hope the realization leads to action.

2. Newsericks Says:
   August 10th, 2010 at 10:21 am

   Very true, unfortunately. But hopefully the economy will improve a little, people will wise up to Republican tactics, and Dems will be able to mobilize their supporters to get out and vote. Howard Dean was on MSNBC a few nights ago saying that there’s a chance (not that he’s predicting this) that GOP gains in the House can be held to five or fewers seats, and that it’s not likely that they’ll take over the Senate. Let’s hope he’s right.

3. Newsericks » Blog Archive » Reich Wing Propaganda Says:
   August 17th, 2010 at 5:39 pm

   [...] insurance and state aid were much higher, in [...]

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