Republican Recession: 159,000 Jobs Lost Last Month
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The government is out with more bad economic news this morning: The job market began to deteriorate even before the financial crisis reached a more serious stage two weeks ago.
Employers cut 159,000 jobs in September, more than twice as many as in August or July, the Labor Department reported. It was the biggest monthly decline since 2003, when the economy was still losing jobs in the wake of the 2001 recession.
Forecasters had been expecting a loss of about 100,000 jobs in September.
Sen. Obama:
Today, Americans woke up to the sad news that 159,000 jobs were lost last month alone, making September the ninth straight month of job loss. With three-quarters of a million jobs lost this year, and millions of families struggling to pay the bills and stay in their homes, this country can’t afford Senator McCain’s plan to give America four more years of the same policies that have devastated our middle-class and our economy for the last eight. Instead of Senator McCain’s plan to give tax breaks to CEOs and companies that ship jobs overseas, I will rebuild the middle-class and create millions of new jobs by investing in infrastructure and renewable energy that will reduce our dependence on oil from the Middle East. I also call on Congress to pass an immediate rescue plan for our middle-class that will provide tax relief, save one million jobs, and save our local communities from harmful budget cuts and painful tax increases.
27 Responses to “Republican Recession: 159,000 Jobs Lost Last Month”
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© 2000-2011 Oliver Willis
You say Repubilcan Recession, the dumbascenti says “Bush Boom!”
This is off-topic.
Oliver, a word please.
Both the stories you bring to this site and your short introduction to them show an excellent eye for what we should be thinking about and talking about. I just wanted to thank you.
As is obvious – I really enjoy your site. Keep up the good work.
Roger Davis
aka Mylegacy
And what is most startling to me is that there are those who will against all reason argue that Republican economics are what the country needs, all the time, no exceptions.
It’s dogma, Parthenon.
It’s like the Holy Trinity or “we sprinkle, they dunk” baptism. Like Marxism, or any other ism, this freemarketisalwaysbest bullshit.
These people will never change their minds until they themselves lose their jobs, healthcare, or homes. True believers. Or as I call them, rubes.
There are only two kinds of Republicans: multimillionaires and suckers.
Raising taxes isn’t going to get any of those jobs back. While additional tax breaks/cuts may not be the answer right now, raising anyone’s taxes certainly isn’t the answer.
Yes, because if Paris Hilton takes a tax hit the economy is DOOOOOMED.
“Raising anyone’s taxes CERTAINLY isn’t the answer.” (Emphasis mine)
The only certainty on this issue is in the minds of dogmatic laissez-faire zombies. Just because you keep saying the free market is always right doesn’t mean it is.
I’m not for higher taxes, as a rule. Just sick of hearing how this piss-on-’em-trickle-down economics is gonna work if we just have “faith in the market.” Bullshit.
How come the only kind of Darwinism Republicans like is Social Darwinism?
I remember when Hedley said the EXACT SAME THING in 1993. I forgot, how’d that work out anyway?
I for one am tired of getting pissed on.
Republicans don’t remember the 90s, when their 401k’s increased by 300% and they got a raise every year. Those memories are blocked by blind unreasoning Reaganworship and Clintonhatred.
Multimillionaires and suckers. The only two kinds.
Duros Hussein 62 – just above says:
“I for one am tired of getting pissed on.”
Hear Hear! However it is not so simple.
The past 25 years of the Reagan mantra of “Deregulate – Trickle Down” has come to it’s end game. American workers were told to get out of your Unions or we will ship your jobs abroad. America workers got rid of their Unions in doing so they destroyed the only vehicle workers had to the middle class. Once the Unions were gone American jobs were sent abroad – a Chinese at .50 cents a day is better for “business” that an American at $15.00 and hour. Health Care is an UNFAIR burden on business and Americans – thus while in EVERY other COUNTRY in the WESTERN WORLD no person ever has to fear losing all they have because of a catastrophic health challenge – in America over 43 million are uninsured and millions and millions more underinsured. The next step was that the only place left for Americans to retain any wealth was in the value of their houses – that has also now been destroyed. And now they are destroying the financial system – why not – they’ve stripped the country of everything of value. The American concept of “American Exceptionalism” has led America to go it alone – to engage in immoral if not illegal wars and destroy America’s reputation EVERYWHERE in the world. We have no freinds left – anywhere!
It gets worse – the 25 years of Republican destruction of the economy has scored one LAST MAJOR VICTORY – a poll yesterday showed American’s OVERWHELMINGLY view GOVERNMENT as the PROBLEM. The Republican VICTORY is now COMPLETE! EVERY WORKER in EVERY OTHER country in the WESTERN WORLD knows Government is the ONLY TOOL they can use to protect themselves. Unlike in America they have VOTED TO PROTECT THEIR INTERESTS. Even when right wing governments come in – they come in briefly and do not have time to destroy the INFRASTRUCTURE of programs that are there to protect NORMAL WORKING PEOPLE and SMALL BUSINESSMEN.
The ONLY chance for an Anerican return to REAL GLORY is that the next 8 years of President Obama can introduce enough progress that workers finally understand WHERE their BEST INTEREST lie. Am I hopefull? I have to be – the alternative is to move to Canada – and I hear it’s cold up there.
CNN is carrying an ABC News report:
“A 90-year-old Akron, Ohio, woman who shot herself as sheriff’s deputies tried to evict her from her foreclosed home became a symbol of the nation’s home mortgage crisis Friday. Addie Polk is being treated at Akron General Medical Center after shooting herself at least twice in the upper body Wednesday afternoon, her city councilman said.”
Last night Biden said that he and Obama want to give Judges the power to re-negotiate not only interest rates but the actual amount of the mortgage. Palin said McCain and she support that. However, today the McCain campaign is restating that McCain DOES NOT support that. I wonder what Addie Polk thinks. I know what I think.
How does raising taxes create jobs? Is a small business owner making $250,000 or more going to hire more people when you raise his taxes or is he going to let people go or simply hire fewer people than he otherwise would in order to equalize his own income?
The Paris Hilton example is, of course, a bullshit argument because other than her dogs, her boyfriend and some assistants, who does she employ? She doesn’t create jobs unless you count the papparazzi who follow her every move.
If you want to give tax cuts to the middle class, go right ahead. Might actually be a good idea. But balancing the cuts by increasing taxes on others, isn’t going to reduce unemployment. Tax cuts aren’t that helpful when you lose your job or can’t find one.
Well, Hedley, in 1993, Bill Clinton signed The Deficit Reduction Act with the help of exactly zero (0) Republican Senators. It was a mild progressive tax increase. And what happened? The dollar rebounded, as money flowed into a rebounding economy. Oh, and jobs were created. Conversely, under the Cheney Administration (motto: “Where, as Reagan proved, deficits don’t matter!”) has produced the most anemic job growth in modern history in the wake of wildly stupid regressive tax cuts tilted to the ultra-wealthy (what Bush has called his “base”–what an asshole). The Cheney Administrations has produced fewer jobs in 8 years than Jimmy Carter’s did in 4.
the job losses didn’t start until 2007. Hmmm, I wonder what changed in DC right about that time…
Hedley: How does raising taxes create jobs? Is a small business owner making $250,000 or more going to hire more people when you raise his taxes or is he going to let people go or simply hire fewer people than he otherwise would in order to equalize his own income?
How many small business owners make over $250k? And if those that do hire fewer or even let some go, might that not be more than offset by the under-250 folks who would hire more?
4,498,845 of 5,697,759 companies (79%) have receipts of less than $1 million. And unless the owner is taking a large part of that, these are owned by folks making less than $250k per year. Would 79% (at least, I could fairly include many companies that have higher receipts) be able to offset losses among the other 21? I’d think that quite possible.
She doesn’t create jobs unless you count the papparazzi who follow her every move.
Exactly, so why does she deserve a tax cut and I don’t?
My folks owned a $1 million a year company and never took home that much. They ended up closing down (after 26 years in business)after they started cashing out their life insurance policies to make payroll. That was 3 years ago.
It’s dogma, Parthenon.
True enough, Bruce, but it’s dogma about something that can be disproven. Key difference.
You’ll never catch me saying that the democrats always have the right economic answer. It seems to me that the truest healthy economy is regulated but not overly so, and structured such that the ratio of richest-to-poorest members hovers right around that of Northern and Western Europe and Japan. I will never get these guys that claim an unregulated completely free market is the way to go.
the job losses didn’t start until 2007. Hmmm, I wonder what changed in DC right about that time…
The real estate market crashed?
the job losses didn’t start until 2007. Hmmm, I wonder what changed in DC right about that time…
What, did the DemocRATS raise taxes? No? Well, OK then.
Fewer jobs created in 8 years than Jimmy Carter in 4. Nice effort SaveFarris et al. Heckava job.
“the job losses didn’t start until 2007. Hmmm, I wonder what changed in DC right about that time…”
farris, you just admitted that 9/11 was bush’s fault. Glad you finally saw the light.
In the current situation (like in 1992),
higher taxes would reduce the deficit.
Improving the deficit will strengthen the dollar.
A stranger dollar means lower gas prices.
Lower gas prices means more disposable income
More disposable income stimulates the economy
And leads to more jobs
FIRST TIME EVER!!!!!
Intrade has: OBAMA 70.4 McCain 29.3
First time Obama has been over 70 and first time McCain has been under 30! A dub a dub a doo!
The tzx revenue from Paris hilton alone could power city services for NYC. Despite all the bad data I still strong demand for all types of jobs posted on specific employment sites -
http://www.linkedin.com (networking)
http://www.indeed.com (aggregated listings)
http://www.realmatch.com (matches you to jobs)
I see 100K, 150K and 200K jobs
It’s all Jeremiah Wright’s fault.
How come the corporate media doesn’t play 15 second loops of Todd Palin’s Alaska-secession leader ad nauseum?
why do you people waste time arguing with each other? if the Republicans think theyre not to blame for the mess then let everyone vote for them.You cant argue reason to someone who has no reason.Never fight fire with water..that is your biggest mistake. the best thing to do is to force everyone to vote Republican, forever.Let people sit in their own waste, throw your hands up and surrender by voting republican.the only way to show the morons that theyre wrong is not to appose them..but to let them do exactly what they want.they want more of Bush? Let them have more Bush!Let them spend all of everyones money on wars, let them bankrupt the economy.Amen.Some people will never learn unless you give them free range to screw themselves and everyone over…and even then..they will never learn. Go Republicans go!Republican this year, Republican next year, then the next, the next, the next , the next..the point of life you see is to live to vote for the same party over and over. Why bother using the brain that god gave you? Deregulate everything, have no laws, give everyone guns and bombs, bring back segragation, vigilante justice, corruption, have no taxes, go to wars, abolish abortion, force everyone to become christian,ban the net, impose the draft..bottom line man, give Republicans what they want.Why bother with reason.You cant reason with dogs can you?