All signs point to a slow down in the economic recovery...

1 post / 0 new

Which means Republicans are patting themselves on the back. Retail sales – a key component of our economy – have dropped for three straight months now. These numbers suggest what most economists have been saying since day one – that this is a demand crisis since workers don’t have enough money in their pockets to spend – is true. On top of that, a new report by the Economic Policy Institute reveals that Republican austerity measures that have killed more than a million public sector jobs are also killing the private sector.

Looking at the economic multiplier effect, every single public sector job that is lost leads to a reduction in spending in the economy, and thus pain for the private sector. As the EPI concludes, “for every dollar cut in salary and supplies of public-sector workers, another $0.24 is lost in purchasing power throughout the rest of the economy…This means that the public sector being down 1.1 million jobs has likely cost the private sector 751,000 jobs.”

Unemployment would be a full percentage point lower – if not more – had it not been for Republican attempts to sabotage our economy. So remember, when Republicans talk about the bad economy – they’re bragging!

Thom Hartmann Administrator's picture
Thom Hartmann A...
Joined:
Dec. 29, 2009 10:59 am

Latest Headlines

Who rejected United States-North Korea peace talks?

There were conflicting reports on Sunday regarding a recent proposal for United States-North Korea peace talks which was allegedly made before North Korea"s recent nuclear test

U.K. Pound Falls As Markets Get Brexit Jitters

Bloomberg said on Monday the pound had sustained its biggest fall against the dollar in 11 months

Clinton: I'll defend Israel but push for 'two-state solution

Hillary Clinton believes both Republican candidates Donald Trump and Ted Cruz "missed the mark" with their approach to the Israel-Palestinian Arab conflict

How Can the GOP Run American Government If They Hate It?

The coal country state of West Virginia is in the middle of a special legislative session to deal with a $270 million budget shortfall, and it's setting the stage for Republicans to completely gut the state's government.

It's the same playbook we've seen the right-wing carry out in Wisconsin, in Kansas, in Michigan, and in Ohio.

Powered by Pressflow, an open source content management system