Economy and Unemployment

[Danny]

Some may have already seen this interesting interview. It is with VP Joe Biden on the state of the economy and where the unemployment rate is headed. Also mentioned are possible future plans.

http://www.youtube.com/watch?v=sdaVkZfe9jg

 

[rph9168]

Joe Biden makes Dan Quayle look like an intellectual.

 

[robert roman]

Smile'n Joe. Dan Qualye, he ain't, thank God.

However, the truth of the matter is that while the national unemployment rate may crest under the previous 1980's recession high of 10.5%, the rate in some areas of the country will grow to more than 10.5% before any recovery. Moreover, according to some of the gurus, meaningful job creation may be several years off, perhaps late 2010. In the meantime, we are in for a slow recovery, nationwide.

 

[Greg Pack]

Joe Biden: ?We Have to Go Spend Money to Keep From Going Bankrupt?

http://www.cnsnews.com/public/content/article.aspx?RsrcID=51162

(CNSNews.com) – Vice President Joe Biden told people attending an AARP town hall meeting that unless the Democrat-supported health care plan becomes law the nation will go bankrupt and that the only way to avoid that fate is for the government to spend more money.

“And folks look, AARP knows and the people with me here today know, the president knows, and I know, that the status quo is simply not acceptable,” Biden said at the event on Thursday in Alexandria, Va. “It’s totally unacceptable. And it’s completely unsustainable. Even if we wanted to keep it the way we have it now. It can’t do it financially.”

“We’re going to go bankrupt as a nation,” Biden said.

“Now, people when I say that look at me and say, ‘What are you talking about, Joe? You’re telling me we have to go spend money to keep from going bankrupt?’” Biden said. “The answer is yes, that's what I’m telling you.” (Listen to Audio)

The event, sponsored by the AARP – which supports the Obama administration’s plan – was attended by mostly AARP members who were bussed in for the meeting.......

I kinda like old Joe. He's probably an embarassment to the Obama administration, but you get the unpolished look at their point of view from him.

Can anyone say "ponzi scheme"?

 

[mac]

Mr Roman, the unemployment is already much higher than the official 9.5% Most agree that many have simply used up their unemployment benefits so are no longer counted. The rate in Lee County, FL is officially at 12.5%. In Michigan I have heard it is 20%. The freaking morons running the place now have no intention of making things nice. They are intent on making the country as dependent on government as possible. No country, repeat, no country, has EVER spent its way out of a recession or depression, FDR included. Expect it to get much worse.

 

[Sequoia]

Biden

Maybe if he stops talking we will understand more of what he means?

 

[Uncle Sam]

Mac,

Your response to Mr Roman is right on the money. The official number produced by this bunch of bureaucrats is worth just what it costs: Nothing!!

Many of us in the real world have already put our staffs on 4-day work weeks even though we hate it. I know many companies that have done the same thing. In my simple math that equates to "20% unemployment" right there. I'm sure the officials won't see it that way, but that is the real world away from Washington, D.C.

Uncle Sam

 

[mac]

Also not even counted in the official numbers are the illegals here. Put them in and the rate has to be 20%. Our local paper recently ran a sob story about an illegal who was having trouble keeping his house and business. He has lived here 13 years and speaks no english. Now his lawn mowing business is off and he may lose the house. How the he++ do you live in a place for 13 years and buy a house and not speak the language? Then cry about losing customers?

 

[MEP001]

How the heck do you even buy a house at all if you're living here illegally? Are banks and title companies lending them money without checking for a valid state ID?

 

[mac]

MEP, I don't know how they did it, but they did. Lots of them. Fannie and Freddie were writing policies like there was no tomorrow. Not only did many not speak english. many were illegal.