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6 Bumps

Everything is down....... except the unemployment number

Of course you aren't surprised. Unemployment number up to 9.2%. What I want to know is what do you think the government will do? Should do?
Squawk Box is "stunned". Obama is going to speak on the economy this morning, I bet he is having to re do his speech now. LOL

Answer Question
 
itsmesteph11

Asked by itsmesteph11 at 8:38 AM on Jul. 8, 2011 in Politics & Current Events

Level 39 (113,405 Credits)
Answers (22)
  • His shovel ready was not shovel ready!

    so today he will shovel more sh%t ??

    The unions are also a big problem!! they support Obama so he will be Union friendly.
    gammie

    Answer by gammie at 9:06 AM on Jul. 8, 2011

  • Cheer up OP...crime is up is up in a lot of places too.
    UpSheRises

    Answer by UpSheRises at 9:12 AM on Jul. 8, 2011

  • I'm sure crime is up somewhere upshe but in general crime is down in the US and has been trending down for year now.
    itsmesteph11

    Comment by itsmesteph11 (original poster) at 9:18 AM on Jul. 8, 2011

  • I'm just hoping we can hold on until 2012!
    scout_mom

    Answer by scout_mom at 9:19 AM on Jul. 8, 2011

  • IDK. We were told that Obama was going to fix Bush's mess. I don't see improvements, but that's just me. I don't really think that government intervention is the right thing to do (after all, it always ends up costing us more in the end). Whatever happens, the results will be his baby (good or bad). I don't know how you can persuade companies to bring their businesses (i.e. jobs) back to the states. Even with less regulation (which isn't likely), they still pay out less in another country than they would here.

    QuinnMae

    Answer by QuinnMae at 9:43 AM on Jul. 8, 2011

  • Obama will tell people what he thinks they want to hear and do nothing.
    pookiekins34

    Answer by pookiekins34 at 10:19 AM on Jul. 8, 2011

  • Quinn, the fair tax fixes that. Businesses don't pay taxes on (real) business expenditures (inventory etc)if it comes from inside the US
    If you want to sell TVs from China you will pay taxes. Businesses don't want to pay those taxes and people don't want to pay the higher price of items because a business got them from overseas and added it into the price. This will bring businesses back and it will encourage new businesses because they know they will have the business.
    itsmesteph11

    Comment by itsmesteph11 (original poster) at 10:19 AM on Jul. 8, 2011

  • I would love to see the fair tax, but I just don't see it happening anytime soon. And especially with this administration.  Considering that this administration created legislation that requires the hiring of thousands of new IRS employees I can't see him agreeing to any type of legislation that would reduce the number of government jobs.  I don't know that there is a two thirds majority to go around him. 

    QuinnMae

    Answer by QuinnMae at 10:26 AM on Jul. 8, 2011

  • In my state unemployment is at 3% but now we have more crime too since everbody and their dog is moving here
    prettynpink343

    Answer by prettynpink343 at 10:55 AM on Jul. 8, 2011

  • http://moneywatch.bnet.com/economic-news/blog/maximum-utility/the-bush-tax-cuts-and-economic-growth/1024/


    THIS is a part of the debacle caused by the previous administration and what the President has been trying to fix since January 2009 and it will take another 5-10 years to get us back on track again.  WHen the economy (and the stock market) tanked in mid-2008, the effects were long lasting and devastating and can't be fixed in only a few years. Deal with it. The country is suffering from a need for Instant gratification"...in other words, they want everything done NOW. It won't happen.

    minnesotanice

    Answer by minnesotanice at 11:16 AM on Jul. 8, 2011

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