News last week the unemployment rate nationwide is up over 10 percent for the first time since the Reagan administration. And of course, the Dow is back up over 10,000, because these days, when Wall Street gets rich, real Americans get screwed. Perhaps a different post for a different day.
As weve been told so many, unemployment is a lagging indicator, meaning job numbers will bounce back more slowly than other economic numbers. So even though President Obamas policies have GDP on the rebound, officially ending the recession, its going to take some time for national unemployment increases to subside.
Here in Wisconsin however, unemployment has been dropping consistently since hitting 9.2 percent back in June.
What else happened in June, one might ask ” well the Democratic-led state legislature and Governor Doyle passed the state budget. Of course, WMC and its lapdog Republicans like Robin Vos and Mark Gottlieb cried day after day during the budget deliberations that the Democrats budget would be a job-killer, because Dems had the audacity to close corporate tax loopholes, make sure workers on public-private projects are paid fairly and raise the minimum wage. Now almost six months later, unemployment here in the state continues to fall, thanks in no small part to the way the Dems in the state legislature and the Governors office handled the worst budget in state history.
And no thanks at all to the Republicans, who instead of offering real leadership or any alternative plan, offered simply No after No after No and empty talking points.