Tuesday, January 27, 2009
Pbama's Jobless Numbers Just
The Tip Of The Ice Berg
The recession is killing jobs at an alarming pace, with tens of thousands of new layoffs announced Monday by some of the biggest names in American business — Pfizer , Caterpillar and Home Depot.
We're just seeing the tip of the iceberg — the big firms," said Rebecca Braeu, economist at John Hancock Financial Services. "There's certainly other firms beneath them that will lay off workers as quickly or even quicker."
Looking ahead, economists predicted a net loss of at least 2 million jobs — possibly more — this year even if President Barack Obama's $825 billion package of increased government spending and tax cuts is enacted.
You know, an economic jumpstart aimed at massive and expansive public works was tried before by Adolf Hitler. Pbama has the same idea: a massive, expansive, expensive public works program.
Pbama was TIME magazines 2008 Person of The Year. Well, in 1938, TIME picked Hitler for "Man of The Year."
I don't remember who exactly it was who said this - I was tooling around the conservative talk radio dial Monday morning - but a local talk radio host compared Pbama's economic policies to, "moving rocks from one pile to the other." And back again. Exactly!
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