The Beginning Of The End
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Less Money, More Problems

How in the world is the U.S. economy going to recover if the American people have less money to spend?  Millions of American families are heading into 2011 knowing that either they won't be seeing an increase in income or that their incomes will be smaller next year.  Long-term unemployment benefits are being cut off for millions of Americans, federal workers are having their wages frozen, Social Security recipients are not going to get a cost of living increase for 2011, taxes are going up for the vast majority of U.S. families and employers are forcing pay cuts on their workers across the United States.  Meanwhile, the cost of food just keeps going up, the cost of gas just keeps going up and the cost of health care just keeps going up.  So what are millions of American families that are already stretched to the limit going to do when they have less money in 2011?

Millions of unemployed American workers are heading for a very bleak 2011.  Unless Congress acts, and there is no indication that is going to happen, approximately 2 million Americans will stop receiving unemployment checks over the next couple months.

The government is really between a rock and a hard place on this one.  After all, who is so heartless that they actually want to cut off the little financial support that millions of deeply struggling American families are depending on?  Not extending the long-term unemployment benefits is going to mean more Americans are going to lose their homes, more Americans are going to go bankrupt and more Americans will end up in tent cities.

But as CNN recently reported, extending the long-term unemployment benefits through next year would cost the federal government $56.4 billion that we simply do not have.  The U.S. government is absolutely drowning in red ink and cannot afford to just chuck another 56 billion dollars more debt on to the pile.

At this point even Barack Obama is taking some small steps to get federal spending under control.  He has just announced a plan to freeze the pay of federal government workers for the next two years.

So how are federal government workers handling the news that they will not be seeing any raises for the next coupe of years?

Not well.  In fact, many of them are absolutely furious.

But can you blame them?

How would you feel if your wages were just frozen for two years and yet the price of everything just continues to keep going up?

Meanwhile, the Social Security Administration announced last month that there will be no cost of living adjustments for Social Security benefits once again next year.

According to the government, the cost of living is not going up.

So now our seniors will just have to stretch those meager checks even more.

As if all that wasn't bad enough, now a whole slew of tax increases is coming.  The U.S. Congress is busy debating which (if any) of the Bush tax cuts that they are going to allow to expire, but the truth is that the Bush tax cuts are only a small part of the story.  There are so many tax increases scheduled to go into effect in 2011 that it is hard to keep track of them all.  In fact, there are many (myself included) that are calling 2011 "the year of the tax increase".

But it is not just the federal government that is raising taxes.  In the past two years, 36 of the 50 U.S. states have jacked up taxes or fees.

In addition, many local governments are so strapped for cash that they are going to absolutely ridiculous lengths to raise cash.  For example, from now on if you are caught jaywalking in Los Angeles you will be slapped with a $191 fine.

This kind of thing is happening all over America.  Police departments are being turned into revenue raising operations.  Police are so busy writing tickets that they barely have any time to investigate actual crimes anymore.

Unfortunately, all of this latest news comes at a time when incomes are already down from coast to coast.  Median household income in the U.S. declined from $51,726 in 2008 to $50,221 in 2009.  Some areas are declining faster than others, but the truth is that almost all areas of the United States have been seeing incomes go down.  In fact, of the 52 largest metro areas in the United States, only the city of San Antonio did not see a decline in median household income during 2009.

Times are getting really tough.  Employers all over America are forcing their employees to take pay cuts.  Even some of the most prominent unions are agreeing to unprecedented concessions.  For example, just check out what The New York Times says is going on over at General Motors....

In its most recent union contract, General Motors is paying new employees $14 an hour, half the rate it pays its long-term workers.

Unfortunately, American families are going to have to try to do more with less during a time when prices are going to be going up.  Most economists agree that all of the quantitative easing that the Federal Reserve is doing is going to cause inflation to start increasing significantly at some point.  In fact, some of the top Federal Reserve officials have publicly stated that they want to purposely raise the rate of inflation as a way to stimulate the economy.

One of the great things about Americans is our relentless sense of optimism, but it is time for a major reality check.  Our economic system is in an advanced state of decay.  Our nation is a sea of red ink from coast to coast, we continue to consume tens of billions more than we produce every single month and we are rapidly being transformed into a post-industrial wasteland.

The economy is not going to be "getting better" in the long-term.  Unless fundamental changes are made to our economic system, we are going to continue to speed toward a horrific economic collapse.

The storm clouds are gathering on the horizon and time is running out.  It is imperative that we all make the most out of every single day because night is coming soon.

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  • http://brunolem.wordpress.com Brunolem

    Americans don’t need money, they need a shrink! They are consumption addicts!

    It is mind-boggling to see that retail sales are today at almost the same level that they were BEFORE the crisis!

    At that time, Americans were buying things they didn’t need, mostly imported from China, with money they didn’t have. Today, they simply can’t help doing the same thing (see Black Friday…).

    Americans can probably live a very decent life by reducing their consumption, and their weight also, by 10 to 15%. This will help them balance both their household budget and their trade deficit.

    Instead, they compensate their lack of income by defaulting on their mortgages and use the money thus “saved” to buy more things they don’t need!

    Americans represent 5% of the world population and consume more than 30% of its resources! That says it all…

    Click on my name to visit my blog.

  • http://google Ross Jesswein

    Until now I always felt that class warfare was a bad idea.Right now I would do anything in my power to stick it to those making over $250,000 a year.

  • mondobeyondo

    Guess you didn’t get the memo… Black Friday sales are up significantly, and retailers are expecting a better Christmas than last year.

    Unemployment (as reported by the MSM – the real rate is much higher) has been stuck at 9.6 percent, but you know, that’s OK! Things are getting better! Pay no attention to the men behind the curtain…

    And QE2 will eventually give more money to everyone, because they’re adding more money to the money supply!

    Which makes as much sense as 33 x 3 = 333.

    We’ve already hit the iceberg. There’s still time to escape with your life, but not much time. But it’s all okay. Just keep living in Brian Williamsville and Katie Couric Land.

  • flubadub

    Your article could also be titled “Less Money, More Problems and More Money, More Problems”.

    Inflation is coming and for the first time I can remember the government is welcoming it rather than trying to combat it. More printed fiat dollars equal less value per dollar. If I had a company valued at 1 million dollars and went public with it I could sell 1 million shares at $1 each. If my company needed revenue and I decided to issue another hundred thousand shares at $1 each, the company would have 1.1 million shares outsanding each now valued somewhere near ninety cents. The federal reserve, by way of quantitative easing, is issuing more money thereby diluting the value of the existing dollars and ensuring that more dollars will be needed tomorrow to puchase what fewer will buy today. If our currency was backed by the gold standard this would not be the case. This is also why the prices of gold, silver and just about every other commodity whether it be mineral, grain, cotton, coffee or whatever you like have been soaring over the past few months. Inflation for sure but of the sort purposely ignored by those who calculate the Consumer Price Index.

    In 1979 the brothers Nelson and Bunker Hunt attemped to control, and for a while succeeded in controlling, the silver market. The price of silver shot to over $50 / ounce. Lately silver is again on the rise with some commenting that in 2010 the fed is analagous to the Hunt brothers of 1979-80. The difference now is that real demand due to inflation fears combined with actual silver shortages are driving prices higher. Here is a link to the U.S. mint website.
    http://www.usmint.gov/
    If you go there to shop for silver coins you will find that the coins they used to have to advertise to sell are no longer even available because the mint is no longer able to keep up with demand. Their inability to procure enough silver is the reason. So people are investing in profitable silver mining companies or exchange traded funds, ETFs, that supposedly hold physical silver in their vaults. The logic behind investing in a silver mining company is that if the company was profitable last quarter when silver was selling for $17 / ounce they will probably make a fortune with silver in the 26-27 dollar / ounce range and the miner’s stock price will skyrocket. But that is totally irrelevant to someone who is wondering where his family’s next meal will come from.

    Meanwhile, God is great, beer is good and people are crazy!

  • http://nakedonastrangeplanet.com nakedplanet2

    The government has no money to bail out its citizens because it already gave away all our tax dollars to bail out the airlines, banks & automakers. It’s absolutely ridiculous and I just don’t know why we continue to stand for it. That said, just how are unemployed Americans supposed to survive? Check out this excellent article on how to get by on practically nothing. It has some really good ideas.

  • Gary2

    Ok I will say it again-TAX THE RICH and CORPORATIONS and SPREAD the WEALTH. As you can see by all of the recent articles on this site that Michael the moderator is making my point for me (thanks Mike) We are a banana republic where a small portion of the population and most of the wealth and income and the vast majority worry about how they will pay next months rent/mortgage.

    Notice how you never hear about taxing the rich in the main stream media? How about taxing all capital gains as regular income? How about removing the cap on the income SSI is levied on? If the cap was removed and all the rich people’s wealth and income were fully taxed for SSI we could DOUBLE the benefits to all recipients tomorrow. This would be a huge stimulus to the economy.

    People it really is this simple-tax the rich and spread the wealth. How can you not see the obvious? Imagine the stimulus effect on the economy if we double everyone’s SSI monthly check? All we need to do it remove the income cap for SSI. It would benefit so many and the rich would still be rich after paying the additional SSI. I admit they may not be rich when I am done taxing them but we will all be better off.

  • http://WWW.OSIXS.ORG Morpheus

    WAKE THE HELL UP AMERICA! —  “Join the Revolution”

    Read “Common Sense 3.1” at ( http://www.revolution2.osixs.org )

    It is insane how people read about this stuff everyday and fail to do anything.

    “DO SOMETHING”

    We don’t have to live like this anymore. “Spread the News”

  • Johnson

    I’m in my late 50′s and have been out of work for 3 years now. I am living on my IRA, which should last another year or so. I was on the 99 week extended UI plan but that ended for me last March. The economy DID suck and I kept believing that something would magically change in the future.

    In retrospect, I wish that unemployment had not been extended so much because frankly, I had enough savings combined with the unemployment payments to become lazy and not try as hard as I might have for a new job or attempt training in something new.

    I grew to enjoy avoiding the pressure/politics of the typical work environment, sleeping late, going to the gym, reading books and surfing the net while only occasionally (up until 8 months ago) focusing on the job search or considering a career change.

    IMO, it would have been better for me if unemployment had not been extended past 52 weeks total (state + Fed government combined). This would have forced me to get out of the house and become more proactive sooner.

    You still have a somewhat reasonable chance of getting a job after being out of work one year. But after three years, opportunities really evaporate, particularly if you are an older person. You almost become radioactive and no one wants to even interview you with such an extended time out of work.

    Now it looks like it is getting too late for salvation. If nothing changes, I may have to walk in front of that train next year.

  • http://www.prophecience.com Steve

    The politicians inside the Metro DC beltway will not wake up to the “crisis” we are in until the masses protest around the White House and Capitol Building. Millions of people would send a message to them. Just like the Vietnam era, it took protests for the politicians realize they have a problem. If every unemployed person showed up in DC they would listen. With the protests in Europe the politicians are feeling the heat.

  • http://www.prophecience.com Steve

    A 25% cut in all Federal Government worker salaries.
    At a time when workers’ pay and benefits have stagnated, federal employees’ average compensation has grown to more than DOUBLE what private sector workers earn, a USA TODAY analysis finds. Federal workers have been awarded bigger average pay and benefit increases than private employees for nine years in a row. The compensation gap between federal and private workers has doubled in the past decade. Federal civil servants earned average pay and benefits of $123,049 in 2009 while private workers made $61,051 in total compensation, according to the Bureau of Economic Analysis.
    Cut Government Spending and help the unemployed, and wealth producing business grow.

  • http://www.prophecience.com Steve

    Stop the outsourcing of jobs from America to other countries that do not pay taxes into the U.S. and stop the tax breaks that are given to these companies for the purpose of outsourcing.
    Close corporate tax loopholes that encourage the offshoring of jobs.

  • http://www.planorperish.com/ Gutter Economist

    Lesson #2
    Governments CANNOT End a Debt
    Crisis by Piling on Still MORE Debt

    Lesson #3
    Before a Government Debt Crisis Can Be
    Ended, It Must FIRST Get a Lot WORSE!

    http://www.planorperish.com/?p=3279

  • Oldphart

    Obama froze federal worker wages after historic wage increases. I have little sympathy.

    My salary has been frozen since 2007 when we saw this $hit$torm coming, as have my employees. Our hourly staff have been on 35 hour weeks since January 2008, we have reduced our 2006 workforce from 550 to 220.

    We have mothballed over 175 trucks, we have cut expenses for permits, licenses, fees and mainternance as a result. We have eliminated positions and functions. And we have closed plants as well as intermittently idled plant locations.

    Until I see similar steps taken at the federal and state government level, public employees can kiss my puckered patootie.

    It has been devastating for my employees and I encourage them to moonlight as best they can. And there isn’t much more I can do to help. Revenues in 2006 were $65 million, now we’re scraping to hit $22 million.

    It’s going to get worse as the Fed pumps even more billions into the economy when it starts buying the wave of commercial real estate loan defaults, then the now building wave of ARM resets that will be continuing past 2014.

    And we witness the mobs of black Friday rushing to buy the newest, brainless entertainment and toys…like the mongol horde crashing the gates.

    Imagine what those same people will be like when they crash through the gates at your local grocery store. Driven to grab all the food they can even as it’s brought to the shelves.

    All of this has been brought about by the collusion of the federal government, Congress in particular, the Federal Reserve and the Oligarch that controls them both.

  • http://www.cursusrobwessels.nl/ Rob Wessels

    When everybody stops spending, we’re ******

  • Save the Republic

    What a bunch of garbage. The government can’t continue unemployment because it has turned into a tumor that has its tenticles entwined in every area it was never supposed to be in. All of this government growth is causing a tremendous waste of tax dollars. There is no reason this country couldn’t have balanced its budget each year, just like most people do with their personal budgets. The problem is every time congress tries to pass a new law, the sponsor of the bill has to agree to additional spending for each member that holds the bill hostage by not voting for it until that member gets what they want. Imagine never being able to pass legislation unless you agree to give 20, 30, or 50 other legislators additional funds just to get them to vote for it. These are the suckers (literally) that Americans keep voting for. If all of this was stopped, and all the past abuses cut out, paying unemployment would be no problem, and they might actually come close to balancing the budget (although that’s extremely difficult with all the interest that’s being paid). Also, don’t cry for those federal employees. They are still way better off than the majority of working Americans, many of whom have had significant pay cuts over the past few years, and have no job security. They better just shut up.

  • William

    The USA will spend about $130 BILLION in the unnecessary war in Afghanistan in 2011. Yet, we are told that we can not spend $56 billion for the unemployed. If you do not believe that the war mongering US military industry controls America, you are either asleep or stupid. Obummer has thrown away his presidency by expanindg and extending the unnecessary war in Afghanistan, which will yield no “victory” for America.

  • Buy American

    I have to agree with Brunolem. Most poor people in America live lives that the middle-upper classes in most countries in the world dream of having. Many illegal immigrants in our country were lawyers, doctors, engineers, managers, etc. in their own countries. They live in America washing dishes and cleaning houses because by living frugally on minimum wages, they can actually accumulate wealth one dollar at a time. I have known illegals who have gone back to their country after 4-5 years in the US who have started businesses, bought large farms, etc. on the money they accumulated in the US. They accumulated this money by not living above their means, by evaluating every penny they earned, by not considering recreation and entertainment a basic human right.
    Americans need to re-learn how to budget and live within their means like our grandparents did. We need to learn to make our appliances and furniture last for 15-20 years instead of placing it at the curb whenever the battery goes dead or the wood gets scratched. We need to learn to say “no” to the latest high tech gadgets that we don’t need. And we need to learn to say “no” to our teenagers and require them to deliver newspapers or babysit to earn money for their toys and events.
    It is possible, I raised to kids as a single parent living well below the poverty level (avg. $14k/yr) and we had a decent house next to a lake, a decent car (always used), we ate well (not name brands), wore good clothes (clearance and used) and most people considered us middle class. However we only had 1 TV, 1 computer, 1 cell phone (for emergencies), no cable/satellite TV, and we rented movies and played lots of games for entertainment. We did all this without government assistance. It is possible!

  • http://moneyedpoliticians.net Jack E Lohman

    We must continue fighting this battle — eliminating political corruption — because it’s the only one that will make a difference. And the closer we get the more the politicians oppose it.

    Sometimes I think at 73 I should just hang it up. But then I see the politicians and their billionaire buddies ripping off my kids and grandkids and become even more intent on putting these jokers in prison.

    Though it is also distressing to see so many Americans fighting tiny battles they’ll never win, as long as the corporations own our politicians. Like the time it took us 3 years to get smoking out of daycare centers because Philip Morris owned our governor and state legislature. With public funding of campaigns it would have seen passage in 3 days.

    The rich guys at our nation’s top didn’t get richer because they grew the country or its GDP. They got richer by manipulating and looting and crashing the economy, and sharing their wealth with the politicians that helped make it all happen. They got rich by creating and pocketing the losses of mainstream America’s 401(k)’s, retirement accounts and housing values. That’s called a “transfer of wealth.”

    They got Obama to appoint their buddies — the foxes Larry Summers and Tim Geithner — to guard the chicken coop and bail out the banks, and they paid off the politicians to look the other way. There is a concerted effort to convert Social Security and Medicare assets to Fat Cat wealth, if we let them succeed.

    I think of my friends Julie and Dan who worked like hell to buy their third house and put their two kids into school. Dan started his own company to insulate houses, then the housing market crashed. All because the politicians were paid handsomely to pass NAFTA and other export laws that seemed to be “free trade,” but only for the countries with wages one-tenth ours. People without jobs don’t buy houses.

    And now the other countries have our jobs and my friends are $300K in debt and filing for bankruptcy and their house is in foreclosure. And millions of Americans find themselves in the same trouble… all while our politicians bounce around with their hands still out promising not to raise taxes on the wealthy (if they just kick in a bit, mind you).

    And no, the rich guys don’t care because they’ve already bought or planned their island in some other country, where all they have to worry about are pirates and military coups. My heart bleeds for them.

    So to the Lefties, the Righties and those in between, is this where you want your country to go? Isn’t it now time to install rules that keep our government honest? Being 22nd best on the corruption index is nothing to brag about. Why is the US #22 instead of #1???

    It does not matter what your issue — taxes, health care, or the war — it will NEVER, EVER be resolved as long as our politicians are taking bribes. Vote them out and the new ones will gladly take the campaign dollars. Only public funding of campaigns will fix it. It’s the big fire from which little fires grow.

    Jack Lohman …
    http://moneyedpoliticians.net

  • alice

    Who is going to do something? If you stick your head up, will it get cut off? Are the people in power suffering? All of these blogs are good for venting our frustrations, but that’s it! I feel better, how about you!

  • Matt

    Gary and all you tax-the-rich people:
    Socialism stops working when the socialists run out of other people’s money. Can you comphrehend the concept of “uh-duh, we have no one to rob from anymore – now what”? It doesn’t seem so. Try thinking about what happens then and be honest with yourself – but I doubt in your enraged state you can do that. So just go pop open a beer instead.

  • Libertarian jerry

    Gary2, Your communist philosophy of Zero Sum is what is destroying this country’s economy. There is no such thing as”the Wealth.” What I have earned in the American Free Enterprise system belongs to me not to an entity called the Society. You exist and I exist,but Society is an abstraction. When I speak of the “American free enterprise system”I am not speaking of the phony baloney bankster gangster crony capitalists you refer to, but true American hands off entrepreneurship. This is what built America into an economic powerhouse. What you stand for is government thugs,Gulags and poverty.The bottom line is that wealth cannot be “spread” unless it is first created. And the economic successful are the creators of that wealth. All you want to do is penalize the successful because you are a failure.

  • The Sojourner

    I say we should IMMEDIATELY closed down every US military installation overseas unless it’s on a US territory. That would be a big help in lowering expenses. And for the federal workers who whine about not receiving cost of living adjustments…..lower your standard of living like the rest of us and be thankful that you have a source of income. The way things are headed, many federal jobs will soon be axed anyway.

  • http://the-wardhouse.blogspot.com Annette

    In Aug 2009 I had to take a 15% pay cut to keep my job. I know it will only get worse and we are cutting out extras – there has been no TV at our house for over 4 years now. If prices continue to rise, the internet will be the next to go (which means more library time for me). We do not have cell phones, do not use the dryer, and I cook on a wood cookstove to save on electricity (plus it helps to heat the house). It’s funny that we (2 teens, husb and I) do not miss all the ‘extras’. I know it’ll get worse and hopefully, with what we are doing and new skills we are learning, it will help prepare us for an even more difficult future. *sighs*

  • Maria

    Gary2

    It takes an act of Congress to get the tax code changes. Our Congress is bought and paid for by the corporations and big banks. Congress’only interest is to continue to support/allow bailouts, QE and monetizing debt…to save corporations and big banks…not taxpaying citizens. We are the ones who are to be enslaved to pay for it all. That’s why we still have a Fed and an IRS.

  • jesse

    You people cry “tax the rich” as if the government isn’t corrupt and would actually GIVE YOU THEIR MONEY. Are there any productive people here or just a bunch of THIEVING government-check freeloaders?

  • justamom

    Just wondering if our newly elected congressmen and senators would accept a salary cut or even a freeze at this point. It seems that our “public servants” should be willing to serve the public by suffering a little along with the rest of us.

  • Kevin

    The US economy ceased to function when consumer spending replaced manufacturing as the primary driver. The answer to the question regarding recovery is that in the end the US standard of living will perminately drop in direct relationship to our productivity capacity. Decades of increasing debt both public and private just masked the true economic reality. The hard truth is we fell a few decades ago. The pain is just being felt now because the anestizing effect of debt is no longer working.

  • Theo

    Gloom and doom…gloom and doom. What solution do you propose, Michael?

  • de Malfosse

    “Federal workers”? Isn’t that an oxymoron?

  • Silver Bean

    If America is so broke why have we today agreed to help bailout European banks and or countries? Insane.

  • zack

    The government should really cut off corporate welfare before cutting off unemployment welfare for the unemployed. How about eliminating agricultural subsidies and banking subsidies?

    We help Americans find jobs and prosperity in Asia. Visit http://www.pathtoasia.com/jobs/ for details.

  • Silver Bean

    Here is the link to the article that mentions the US will help bailout Europe. See the 1st and 8th paragraphs. We’ll do it as a transfer of our wealth through the IMF, International M—–F—ers. UNBELIEVEABLE!

    http://www.foxbusiness.com/markets/2010/12/01/bullish-kickoff-december/

  • Maria

    “Over-indebted countries will end up defaulting in the coming years … either openly, or behind closed doors via currency debasement. There is simply no other option.

    “The point of no return has long passed. We have reached a dead-end. Our politicians will have to decide whom to saddle with the unavoidable losses coming from debt loads too large to service any longer.”

    Claus Vogt of Money and Markets

  • Maria

    Theo,

    What is your solution?

  • Griz

    We are all on the road to WW3. Make sure you can protect and feed your family for 3 months.

  • GoneWithTheWind

    Tax the rich and the corporations and they will move their assets offshore. Isn’t that what we have seen over the last 20 years of taxing the rich and corporations. I guess you can always go to work for a poor person. I think some of you believe that the rich are just sitting around waiting to be fleeced. But in fact the rich are most likely to take actions to reduce their tax burden. If taxes go up next year you or I cannot avoid it but John Kerry can (as he already demonstrated). This is a fools game and the politicians only use class warfare to get you off their back. The politicians have created this problem not the rich and not the corporations.

  • Gary2

    I can see where gov jobs have is so good, however, it is because we in the private sector have it so bad.

    How about requiring the private sector to come up to gov pay/benefit levels instead of dragging the gov down to the level of the private sector?

    Strong unions could force low wage wal-mart crap jobs to double their wages or they can go out of business. simple as that. My guess is that they would double their wages and make less profit while still making a ton of profit.

    Spread the wealth. Make the private sector crap service jobs pay a living wage. The poor greedy CEO can only have 4 instead of 10 houses!

  • Owen

    Think no income taxes and tariffs while America stills has a market worth protecting… Made in America or we don’t want it!

  • Bruce

    Of course with tons of people telling the welfare queen Gary his plan is usless and would hurt American like a blind rat he just keep spreading in single minded message. Union Gary get real the Union help the CEO decide to move off shore to begin with.

  • Ridiculousness

    “Sorry, honey, Santa won’t be coming this year because the Fed has to bail out Europe’s banks so big banks can continue our foreclosure fraud without exposure.” Once again, large banks prove to be the only “constituency” the government has. All of this “austerity” is merely to condition you to accept things getting even worse. And if things go south? They call in NATO! God knows the U.S. military can’t handle it at this point, they’re too overextended overseas already, and let’s face it, mercenaries and “international” troops will have far less qualms about gunning down peacefully protesting American citizens. Is it an accident that the U.S. military has been actively drilling for “civil unrest?” Seems they know exactly what they’re doing, and none of it is a mistake. That’s right, they’re giving every last one of the proles a nice big middle finger and a “sorry bout ‘cher luck, man.” Can’t support unemployment? It’s this pathetic system of usury and greed that forces people to need it!

  • Ridiculousness

    And yes, tariffs would work. After all, often times the production is often offshored, but distribution CAN’T be (after all, you can’t simply buy a trucking company in Singapore and expect to operate in the U.S.). So, how about a “foreign distribution” tariff? Sure, you’ll say “This will hurt exports, as other countries follow suit,” but in case you haven’t noticed, we don’t export ANYTHING but war, bombs and guns, and I would not shed a tear to know the proud young murderers-by-proxy who sell the guns and never fight now have to pay. All the companies are overseas anyway, and Lord knows they’ll only be forced to come back via economic ability.

  • Swede

    Why not cut our bloated defense budget to help the unemployed?

  • Craig

    I say adopt a 12 year isolationist policy, close all foriegn bases, bring all our troops here, build new bases here, on our borders, and make more use of our own resources, we have the tech to do it safely. Increase tariffs. Disband the Fed reserve and go back on the gold standard.
    Take care of our own for a dozen years and see this country prosper. Who has the balls to do this! Sarah Palin?, lol, Obama?, LOL

  • http://www.FedUpUSA.org Steph

    Everyone needs to stop falling for the distractions. Unemployment is a couple billion dollars and even social security (not Medicare) is a few billion dollars. The big picture is that the Federal Reserve lent $9 TRILLION, almost half of which went to foreign, private banking institutions that were and still are insolvent, along with our own insolvent banking institutions! NINE TRILLION! And there is no end in sight.

    While the sheeple are distrated debating about crumbs and what effect it will (or more accurately will not) have on the defict, the bankers are looting the world and robbing everyone blind.

    Keep it up. Blame your neighbor because he’s on unemployment and blame your neighbor because he couldn’t pay his mortgage that was fraudulently inflated by the lender in the first place. The more you focus on fighting amongst each other, the more the banks control your government right under your nose.

  • GoneWithTheWind

    If you think Tariffs work then you don’t know history. If you do implement tariffs then don’t cut defense because tariffs usually precipitate a war.
    We spend over about a trillion dollars at the federal level for all forms of welfare. That is where the budget needs to be cut.
    If you do unionize Walmart then prices will go up dramatically and hurt the poor. The average Walmart shopper saves $2300 a year shopping Walmart and you want to take that away from them?

  • greaseman

    I think people know that this Christmas season is the last hurrah for a long time. They are figuring , spend the money now while they have it. The economy is going to get much worse. Nothing will change till we have a reset. We aren’t there yet.personally, I’m not upset with the guy making $250,00 a year. he’s not the problem. it’s the banksters getting bailed out to the tune of trillions of my tax dollars. These are dollars that are mathmatically impossible to pay back. Read that again–it’s impossible to pay that money back, and everyone in power knows that. That’s why it makes no difference how much money they print, cause it’s already too late. A few billion here or there isn’t going to matter anymore , and the Fed knows that.
    Our economy is a dead man walking. Stop looking at the little issues that the main stream media distracts everyone with. Concentrate on what matters–surviving the next few years with no job, no home, no benefits, and the list goes on. The cuts are comimg, and you better be getting ready now, not next week.
    Have a nice day, and thank you for shopping at your friendly neighboorhood Wal-Mart.

  • Philip M.

    Wasn’t that obvious that after running so many expensive wars–we are actually still in Afghanistan and Pakistan, besides we have “peace keeping missions” in South Korea and Iraq–we would have to pay the bill?

    It’s like going on a “Bill me later” shopping tour! ;-))

  • http://nakedonastrangeplanet.com nakedplanet2

    Once again, the American people take a hit from their own government. Trillions of dollars have gone to bail out the huge corporations that got us in this mess and now there’s nothing left for us. Check out The Great American Die-In at http://nakedonastrangeplanet.com/category/the-great-american-die-in/ and join us so are voices might be heard in a big way about all of this.

  • http://dumbolddad.blogspot.com Dedicated_Dad

    To “Help”:

    Simple: GROW A PAIR. You don’t need a wife’s permission to buy a gun — I know because I’ve done it a number of times.

    I didn’t need her permission to buy rifles, shotguns or pistols — nor plenty (think 1000+ per weapon) of ammo either.

    Come to think of it, I didn’t need her permission to stock up on food, meds, non-GM seeds… I found I was able to also scratch my manly-bits without her express permission as well!

    Much to her chagrin, it seems I am a grown-@$$ Man, and able to follow my own instincts and make my own decisions.

    No, she doesn’t like it – but she gets over it. She’ll certainly see things my way when what we all know is coming finally arrives.

    You are the miracle you’ve been waiting for!

    Now… On the off-chance you’re a female and your hubby’s the problem, simply reverse the genders and proceed as planned.

    Duh!

    DD

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