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Tag Archives: jobs

US economic growth is all an illusion

Are we tumbling into the abyss? No and thank God. I remember this time in 2008 all too well. That fall is seared into my memory. I will never forget it. From Northern Rock in the UK to Madoff’s arrest to Santelli’s call to arms, I remember it all, in detail. We are not in that place today.

But Lord knows we aren’t healthy. Jobs are being created – kind of – but they are to a large degree part time jobs. Many older people have simply “retired” early and embraced a life on Social Security. An army of younger people have been camped out in their parent’s basements for years, bills from Fannie Mae piling up in the corner. Few people – actual people – are buying houses, especially entry level homes.

For folks who rely on a wage, and that is the vast majority of Americans, things are still pretty tough and it feels like things might stay that way. And that’s if we are lucky.

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Washington Post: The middle class is poorer today than it was in 1989

It’s not that this information is new. We’ve written about this situation multiple times before and so have other sites. But that the very establishment Washington Post is letting this little ray of truth shine out to its generally liberal readers is what is important here.

Pretty hard to ague that Obama has been anything close to a successful president when these sorts of stats stare one in the face.

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The young can’t fund the old. Our entitlement state no longer works. This is perhaps the West’s greatest challenge.

When I was in college one of the first op-eds I ever wrote was on Social Security in the college newspaper. I argued that with the the baby boom generation getting ready to retire (this was the late 1990s) we college students (of a smaller generation) faced a real problem. There were going to be an awful lot of retirees out there counting on Social Security with fewer people actively contributing to the general economy. (And to Social Security.)

The argument I made was of course not solely my own. Many people had made the argument before me and many people have since. I said that we needed to radically reform Social Security and phase it out over a few years.

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Labor Board Orders CNN to Rehire 100 Fired Employees

I’ll bet that’ll be a fun return.

On the surface this ruling sounds like a win for “workers,” but sadly it’s not. If the government can keep businesses from firing people, indeed in this case force CNN to REHIRE fired workers, businesses will simply choose not to hire new people.

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