U.S. Economy Unexpectedly Sheds 17,000 Jobs

more like depression...didn't see that one coming huh...vote ron paul

another bush failure

BUSH DESTROYED USA ECONOMY
Greenspan Faults Bush Over Spending
Sep 15, 2007 / http://tinyurl.com/2ah9mn
Former Federal Reserve Chairman Alan Greenspan, in his upcoming book, bashes President Bush for not responsibly handling the nation's spending and racking up big budget deficits.
A self-described "libertarian Republican," Greenspan takes his own party to task for forsaking conservative principles that favor small government.
"My biggest frustration remained the president's unwillingness to wield his veto against out-of-control spending," Greenspan wrote.
Bush took office in 2001, the last time the government produced a budget surplus. Every year after that, the government under Bush has been in the red. In 2004, the deficit swelled to a record $413 billion.
http://www.usatoday.com/news/washington/2007-...
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Tax breaks for billionaires
Loophole for hedge fund managers costs billions in tax revenue
July 24, 2007 http://tinyurl.com/2xd8rk
This policy memo focuses on the privileged tax treatment given to hedge fund managers that results in a conservative estimate of over $6 billion in forgone tax revenue.
Private investment companies, organized as hedge funds or private equity firms, have recently grown into major economic forces in the U.S. economy. They mobilize capital, and often leverage it with borrowed funds, in order to accumulate a tremendous amount of assets under their management. These investments include leveraged buyouts; market-neutral investment strategies in publicly traded stocks and bonds, energy, and other commodities; various arbitrage strategies; as well as many lesser known and some entirely unreported transactions.

Hedge funds are big players in the large corporate take-over activity that reached $3.6 trillion in 2006¸ and they are also responsible for a significant share of trading volume on the major stock exchanges and in some over-the-counter derivatives markets.
Conclusion
Congress has the opportunity to correct a bad economic policy and free up resources to fund better priorities. This analysis points to the need to update the nation’s tax laws dealing with private pools of capital. The current law is generating inefficiencies and great inequality by granting tax breaks to individuals who do not need and do not deserve such favors. The nation has greater and more deserving priorities. If the amount of tax revenue lost to private equity firm managers is equivalent to that lost with hedge funds, then the combined amount would be $12.6 billion. This forgone revenue stream could, for example, fully fund the five-year,$35 billion expansion of SCHIP, the public health insurance program for low-income children. http://www.epi.org/content.cfm/pm120

The Best Energy Bill Corporations Could Buy: Summary of Industry Giveaways in the 2005 Energy Bill
http://tinyurl.com/n7ofd
On August 8, 2005, President Bush signed into the law the energy bill; on July 28,the U.S. House of Representatives voted 275 to 156 to approve the energy bill; and on July 29, the U.S. Senate voted 74 to 26 to approve the energy bill.
Since 2001, energy corporations have showered federal politicians with $115 million in campaign contributions—with three-quarters of that amount going to Republicans. This cash helped secure energy companies and their lobbyists exclusive, private access to lawmakers, starting with Vice-President Dick Cheney’s Energy Task Force, whose report provided the foundation of the energy bill passed by Congress and signed by President Bush on August 8.
http://www.citizen.org/cmep/energy_enviro_nuc...
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President Eisenhower once noted that a few Texas oil millionaires wanted to abolish social security
http://tinyurl.com/bp7h8 Nov. 8, 1954
http://www.snopes.com/politics/quotes/ike.asp

Under The Influence
60 Minutes' Steve Kroft Reports On Drug Lobbyists' Role in Passing Bill That Keeps Drug Prices High
http://tinyurl.com/ytolh8
http://www.cbsnews.com/stories/2007/03/29/60m...

Spending on Lobbying Thrives
Drug and health products industries invest $182 million to influence legislation
http://tinyurl.com/394mnn
http://www.publicintegrity.org/rx/report.aspx...
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Testimony of Ralph Nader
Before the Committee on the Budget U.S. House of Representatives
June 30, 1999
CORPORATE WELFARE
http://tinyurl.com/rdsoq
http://www.nader.org/releases/63099.html

Lou Dobbs: Congress stiffs working Americans
http://tinyurl.com/muc89
http://www.cnn.com/2006/US/06/20/dobbs.june21...

Tom Delay & Bush Republicans Only Benefit The Wealthy
http://gobnf.org/v/td/tomdelaymovie_tease_sm....

Bush knows everything's swell.
17,000 people know otherwise.

Why is anyone surprised? I wasn't. I see the oil companies posted record profits. Go figure. The foxes are in the chicken coop folks. I can't believe how gullible people can be. Just because the current administration waves the "Christian" flag, it doesn't make it so. It was all a distraction to hide their real agenda. Too bad for the rest of us.

textile, machine tools, automobiles, toys, steel and other BLURE COLLAR jobs head out of the country, NO PROBLEM!! FINANCIAL SERVICES get caught in the history biggest scam, WASHINGTON TO THE RESCUE!! "pay no attention to what is behind the curtain." a quote from the WIZARD in the movie WIZARD OF OZ

17.000 is about the amount of mexicans that has been replaced in the rock quarrys in tn...after the state started cracking down on illegal labor in jan...if all illegals in tn..was replaced there would be easy around 1 million jobs..its not a job shortage in america its a illegal worker surplus

VoteVets Org wrote:

BUSH DESTROYED USA ECONOMY
Greenspan Faults Bush Over Spending
Sep 15, 2007 / http://tinyurl.com/2ah9mn
Former Federal Reserve Chairman Alan Greenspan, in his upcoming book, bashes President Bush for not responsibly handling the nation's spending and racking up big budget deficits.
A self-described "libertarian Republican," Greenspan takes his own party to task for forsaking conservative principles that favor small government.
"My biggest frustration remained the president's unwillingness to wield his veto against out-of-control spending," Greenspan wrote.
Bush took office in 2001, the last time the government produced a budget surplus. Every year after that, the government under Bush has been in the red. In 2004, the deficit swelled to a record $413 billion.
http://www.usatoday.com/news/washington/2007-...
----------
Tax breaks for billionaires
Loophole for hedge fund managers costs billions in tax revenue
July 24, 2007 http://tinyurl.com/2xd8rk
This policy memo focuses on the privileged tax treatment given to hedge fund managers that results in a conservative estimate of over $6 billion in forgone tax revenue.
Private investment companies, organized as hedge funds or private equity firms, have recently grown into major economic forces in the U.S. economy. They mobilize capital, and often leverage it with borrowed funds, in order to accumulate a tremendous amount of assets under their management. These investments include leveraged buyouts; market-neutral investment strategies in publicly traded stocks and bonds, energy, and other commodities; various arbitrage strategies; as well as many lesser known and some entirely unreported transactions.
Hedge funds are big players in the large corporate take-over activity that reached $3.6 trillion in 2006¸ and they are also responsible for a significant share of trading volume on the major stock exchanges and in some over-the-counter derivatives markets.
Conclusion
Congress has the opportunity to correct a bad economic policy and free up resources to fund better priorities. This analysis points to the need to update the nation’s tax laws dealing with private pools of capital. The current law is generating inefficiencies and great inequality by granting tax breaks to individuals who do not need and do not deserve such favors. The nation has greater and more deserving priorities. If the amount of tax revenue lost to private equity firm managers is equivalent to that lost with hedge funds, then the combined amount would be $12.6 billion. This forgone revenue stream could, for example, fully fund the five-year,$35 billion expansion of SCHIP, the public health insurance program for low-income children. http://www.epi.org/content.cfm/pm120

You are sooooo right. Thanks for the research and links.

But our cheerleader President is still optimistic!

uh Bushies, isn't it time to rationalize 17000 jobs lost? Oh, I know, it is just a play by the liberal media, I get it.

Got my pink slip today , how ironic !

leo from shanghai wrote:

textile, machine tools, automobiles, toys, steel and other BLURE COLLAR jobs head out of the country, NO PROBLEM!! FINANCIAL SERVICES get caught in the history biggest scam, WASHINGTON TO THE RESCUE!! "pay no attention to what is behind the curtain." a quote from the WIZARD in the movie WIZARD OF OZ

Classic !

Bushbot NOT wrote:

Got my pink slip today , how ironic !

OH, how sad. You have my condolences. Good luck.

THE CONSERVATIVE NANNY STATE
How the Wealthy Use the Government to Stay Rich and Get Richer
By Dean Baker / http://tinyurl.com/e7gyr
This book is written in frustration and hope. People in the United States who consider themselves progressive must be frustrated over the extent to which conservative political ideologies have managed to dominate public debate about economic policy in the last quarter century. Even when progressives have won important political battles, such as the defeat of efforts to privatize Social Security, they have done so largely without a coherent ideology; rather, this success rested on the public’s recognition that it stood to lose its retirement security with this “reform.” It also helped that the public was suspicious of the motives of the proponents of Social Security privatization. However, success in the goal-line defense of the country’s most important social program is not the same thing as a forward looking agenda.

The key flaw in the stance that most progressives have taken on economic issues is that they have accepted a framing whereby conservatives are assumed to support market outcomes, while progressives want to rely on the government. This framing leads progressives to futilely lash out against markets, rather than examining the factors that lead to undesirable market outcomes. The market is just a tool, and in fact a very useful one. It makes no more sense to lash out against markets than to lash out against the wheel.

The reality is that conservatives have been quite actively using the power of the government to shape market outcomes in ways that redistribute income upward. However, conservatives have been clever enough to not own up to their role in this process, pretending all along that everything is just the natural working of the market. And, progressives have been foolish enough to go along with this view.

The frustration with this futile debate, where conservatives like markets and progressives like government, is the driving force behind this book, along with the hope that new thinking is possible. We shall see. http://www.conservativenannystate.org/cns.htm...

I am sure there will be more job cuts before the King leaves office

Bush Fuzzy Math Cartoon Video
http://www.thebots.net/

“Fox News Makes You Stupid”
http://www.ringoffireradio.com/video/WS%20May...

VoteVets Org wrote:

THE CONSERVATIVE NANNY STATE
How the Wealthy Use the Government to Stay Rich and Get Richer
By Dean Baker / http://tinyurl.com/e7gyr
This book is written in frustration and hope. People in the United States who consider themselves progressive must be frustrated over the extent to which conservative political ideologies have managed to dominate public debate about economic policy in the last quarter century. Even when progressives have won important political battles, such as the defeat of efforts to privatize Social Security, they have done so largely without a coherent ideology; rather, this success rested on the public’s recognition that it stood to lose its retirement security with this “reform.” It also helped that the public was suspicious of the motives of the proponents of Social Security privatization. However, success in the goal-line defense of the country’s most important social program is not the same thing as a forward looking agenda.
The key flaw in the stance that most progressives have taken on economic issues is that they have accepted a framing whereby conservatives are assumed to support market outcomes, while progressives want to rely on the government. This framing leads progressives to futilely lash out against markets, rather than examining the factors that lead to undesirable market outcomes. The market is just a tool, and in fact a very useful one. It makes no more sense to lash out against markets than to lash out against the wheel.
The reality is that conservatives have been quite actively using the power of the government to shape market outcomes in ways that redistribute income upward. However, conservatives have been clever enough to not own up to their role in this process, pretending all along that everything is just the natural working of the market. And, progressives have been foolish enough to go along with this view.
The frustration with this futile debate, where conservatives like markets and progressives like government, is the driving force behind this book, along with the hope that new thinking is possible. We shall see. http://www.conservativenannystate.org/cns.htm...

Another interesting post from you. My "to read" favorites folder is filling up thanks to you.

Markets are supposed to serve us -- to supply people with needed goods and services. We do NOT exist to serve the markets, its the other way around. "Conservatives" seem to have lost sight of this.