JOBS, JOBS, JOBS, uhh, Medicare, Medicare, Medicare, uhh
Who tracked this stinky mess into the living room?
The GOPCon "dog whistle marching band and hoopla circus" couldn't get enough of their "Jobs, Jobs, Jobs" ad campaign as they lurched toward the 2010 election. Even the exalted leader, Boehner, felt obliged to squeeze this rancid little lie out from behind his tears.
Of course, it turns out that the GOPCons had less interest in jobs than a teen age drunk in a new Buick. They had already received their marching orders from the "masters of the universe" on Wall Street. Spending cuts, at any cost, would be the symphony of the day on all those greedy frightened faces still reeling from the embarrassment of the W's emergency bankster bailout.
However, the best laid plans often come to naught. In this case, the "best laid plans" began to slump before the shiny new, tea bag name tags were even on the House offices. Three, terribly unfortunate developments arose to cloud this otherwise promising horizon for the professional looters and their GOPCon servants.
First, the tea bags turned out to be far less manageable -- or, for that matter, literate -- than the oligarchs at first estimated. Second, "young lion," Paul Ryan "stepped in it." Big time. After Ryan "stepped in it," terrified clutches of GOPCons desperately tried to "step out of it," only to discover that they were, instead, clumsily "stepping into it" even more than before.
In no time, "it" had been tracked into the Senate where GOPCon Senators immediately proceeded to "step in it."
However, the Third Issue may have turned out to be the mortal blow.
Following the looting festival which culminated in the 2008 economic collapse, the horrified GOPCons correctly realized that the onslaught of massive unemployment would become the electoral "enforcer" way before the next election. They immediately abandoned the 2008 election in favor of an early start to amassing a full load of incendiary "talking points" for the 2010.
This was the origin of the hilarious GOPCons "JOBS, JOBS, JOBS" line which we heard through the tears of the Boner. However, a second, darkly depressing realization soon visited the otherwise gleeful GOPCons. They weren't going to be able to do anything about unemployment. Worse, they were now stranded, "hoisted on their own petard," tormented by the now horrendously unbelievable "JOBS, JOBS, JOBS" thing while continuing to suffer from the self-realization that they could not actually govern -- even in the best of times.
Please take a minute or two to read through the following article from Crooks and Liars. All the links have been left enabled for MeanMesa visitors wishing to "read more."
May 27, 2011 11:00 AM
By Jon Perr
The Jobs Gap: The Deficit That Matters Most
While all eyes remain fixed on the Republican debt ceiling hostage drama in Washington, the deficit that really matters has all but disappeared from the American political debate. Even as Vice President Biden confidently predicted his bipartisan group of budget negotiators would slash $1 trillion in spending, forecasters are once again downgrading their estimates for second quarter economic growth. All of which means that with 9% unemployment and record-low labor force participation, the jobs deficit should be job number one for both political parties.
With first-time jobless claims edging back up and first quarter growth lowered to 1.8%, Macroeconomic Advisors dropping their Q2 GDP growth forecast from 3.2% to 2.8%. That prompted Paul Krugman was quick to join Brad Delong in sounding the alarm. It's "time to panic," Delong warned, adding that real second quarter GDP growth "looks slow enough to put no upward pressure at all on the employment-to-population ratio." Krugman, who ominously cautioned last year about "Third Depression" in the form of prolonged economic weakness, lamented that:
As Brad says, these estimates now suggest that we have now gone through a year and a half of "recovery" that has failed to make any progress toward closing the gap between what the economy should be producing and what it's actually producing.
That output gap, the Washington Post showed using a helpful interactive graphic last fall, explains "why it doesn't feel like a recovery." While U.S. GDP has now surpassed its pre-Bush recession level, the $900 billion divide between the amount the United States can produce and what it is actually producing "explains why we feel so miserable more than a year into what is technically classified as an economic recovery." Worse still, as the Post charted at the time, at current rates of population and productivity growth, the economy would have to expand at an average of 3% a year to reduce unemployment to 5% by 2020.
Right now, that's just not happening. While the recession officially ended in 2009, the current recovery is proceeding at a much more sluggish rate than usual. The result, as the thoroughly depressing chart which follows from the St. Louis Fed shows, is persistent joblessness hovering around 9%. Just as frightening, employment as percentage of U.S. population has nose-dived. (As the New York Times noted earlier this month, "men currently have their lowest labor force participation rate since the Labor Department began keeping track since 1948."
While all eyes remain fixed on the Republican debt ceiling hostage drama in Washington, the deficit that really matters has all but disappeared from the American political debate. Even as Vice President Biden confidently predicted his bipartisan group of budget negotiators would slash $1 trillion in spending, forecasters are once again downgrading their estimates for second quarter economic growth. All of which means that with 9% unemployment and record-low labor force participation, the jobs deficit should be job number one for both political parties.
With first-time jobless claims edging back up and first quarter growth lowered to 1.8%, Macroeconomic Advisors dropping their Q2 GDP growth forecast from 3.2% to 2.8%. That prompted Paul Krugman was quick to join Brad Delong in sounding the alarm. It's "time to panic," Delong warned, adding that real second quarter GDP growth "looks slow enough to put no upward pressure at all on the employment-to-population ratio." Krugman, who ominously cautioned last year about "Third Depression" in the form of prolonged economic weakness, lamented that:
As Brad says, these estimates now suggest that we have now gone through a year and a half of "recovery" that has failed to make any progress toward closing the gap between what the economy should be producing and what it's actually producing.
That output gap, the Washington Post showed using a helpful interactive graphic last fall, explains "why it doesn't feel like a recovery." While U.S. GDP has now surpassed its pre-Bush recession level, the $900 billion divide between the amount the United States can produce and what it is actually producing "explains why we feel so miserable more than a year into what is technically classified as an economic recovery." Worse still, as the Post charted at the time, at current rates of population and productivity growth, the economy would have to expand at an average of 3% a year to reduce unemployment to 5% by 2020.
Right now, that's just not happening. While the recession officially ended in 2009, the current recovery is proceeding at a much more sluggish rate than usual. The result, as the thoroughly depressing chart which follows from the St. Louis Fed shows, is persistent joblessness hovering around 9%. Just as frightening, employment as percentage of U.S. population has nose-dived. (As the New York Times noted earlier this month, "men currently have their lowest labor force participation rate since the Labor Department began keeping track since 1948."