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Front Page: Unemployment Hits 16-Year High

  • Unemployment hit 7.2 percent last month, marking a 16-year high. December’s job losses brought the total for 2008 to 2.6 million, and the deteriorating economy suggests more in the months ahead. — Wall Street Journal
  • Lawmakers in Washington often pass nonbinding resolutions supporting Israel during Middle East crises, but there are very few to speak for Palestine in US Congress. — Reuters
  • President-elect Barack Obama's economic recovery plan ran into crossfire even from the Democrats yesterday, suggesting that spending programs and tax cuts will require much more time and negotiation. — New York Times
  • Russia, Ukraine, and the European Union struck a deal on monitoring gas flows yesterday. European Union monitors are scheduled to help mediate a natural-gas pricing dispute that has affected shipments to at least 20 countries today. — Bloomberg
  • The Illinois House is set today to vote on impeaching Gov. Rod Blagojevich, who is accused of attempting to sell Barack Obama's Senate seat. — ABC News


Join The Conversation
dikke-kus dikke-kus 8 years
I spent my stimulus check on a bankruptcy lawyer and a pair of Micheal Kors high heels. I'll have difficulties being hired at some places because they'll check my credit report. In which case the credit card companies will never be payed back one red dime when I am turned down for jobs. Guess I'll have to go to the jobs who will focus on my award winning portfolio instead and wear my heels to the interview.
Anyone read "Confessions of an Economic Hitman?" Our government is doing the same to US citizens, and basically the country as a whole now.
stephley stephley 8 years
That would have required paying attention, and then doing something if they saw signs of a problem, so it wasn't gonna happen.
Shadowdamage Shadowdamage 8 years
I will defer from commenting on what I think of Rush Limbaugh. Quoting from above: "Org, they complained that too many of the last checks went on practical things and not economy-stimulating purchases," Yeah, damn those people for spending money on what they needed to get by, and not wasteful crap like Infomercial makeup and exercise machines. That's what keeps an economy strong! Needless, wasteful spending on crap we didn't really need to begin with. (Yes, I am getting cynical. I think I grew up in a country that knew 2 good ways to "stimulate" the economy - wars, (which don't work so well now do they) and getting people to spend money and remain in debt their ENTIRE lives so they can feel like "whole" Americans before they die penniless and feel like they succeeded in ..well, whatever you call that. Keeping up with the Joneses (who were inevitably in debt up to their arse too). The fact so many spent it on necessities should have been a warning to them that the situation was heading downhill.
StolzeMama StolzeMama 8 years
I see, Jill. I still feel that way though. Distorted or not. Since I know that most of the dems in office are for bigger government(maybe job security in tough times??) so it isn't a stretch. And I would not put that past Repub law makers either. I simply don't trust politicians.
Jillness Jillness 8 years
Hain, a similar extreme theory can be said of the Republicans. They intentionally mess everything up so that no one believes the government can do anything right. When the people have lost their faith in government, then business will take over and be able to whatever they please. Both theories might sound as if they are rooted in fact, but ultimately they are just distortions.
StolzeMama StolzeMama 8 years
Regardless of that and you hijacking the thread with your hatred of anything that is conservative, back to my original comment about what congress is doing....
StolzeMama StolzeMama 8 years
Limbaugh insists he is a commentator, as does Sean hannity. They both say they are a radio personality and giving their opinions regarding topics. Maybe you trust what others say about them, obviously you haven't listened to their programming.
stephley stephley 8 years
Who quotes Jon Stewart when discussing economic theory? Jon Stewart insists he's fake news, Limbaugh insists he isn't.
StolzeMama StolzeMama 8 years
quoted as real news sources by people on sugar sites (I was not meaning MSM)
StolzeMama StolzeMama 8 years
And what about people quoting Jon Stewart, whos degree is in psychology.. a far throw from anything journalism related. And Colbert, who has a theatre degree. Their opinions mean no more than the average joe... but yet they are quoted as real news sources as well....
StolzeMama StolzeMama 8 years
Well I agree with his thought on it and didn't feel it was right to act like it was my own. No need to be rude Steph. And actually the rules of the sugar networks say that you should source anything that isn't you own. Next time I will leave out that Rush may have said it first. And I will say, well others on here don't like to hear his name, so I leave it out. I think that the quoting Huffington post is as useless as belching, but I don't say it. As I look more at the content of the post, rather than where it came from.
stephley stephley 8 years
Rush Limbaugh is pointless and makes stuff up - he needs to keep his audience whipped up in fear and loathing: he's a radio guy and has no actual expertise, training or education in anything else. Quoting him is as worthwhile as belching.
StolzeMama StolzeMama 8 years
I spent my stimulus on snowboard equipment and a snowboarding trip.
StolzeMama StolzeMama 8 years
The idea of giving of tax cuts to businesses for hiring new employees would be fine, except it isn't going to work. What kind of a business would hire someone at $60,000 per year, just to get a $3000 tax break? I feel that is just a line they are giving. IMO. But i don't trust politicians. Normally I think Rush Limbaugh is a crack pot, but he had a good point of view on this topic. he said something to the extent of they are just trying to make people believe they were trying to let the free market economy work things out, and giving them a push. And then when no business take them up on that opportunity (which no business in their right mind would) congress will say "see, government is the only answer" just as Obama said in his speech. ""Only government can break the vicious cycles that are crippling our economy -- where a lack of spending leads to lost jobs which leads to even less spending," Not true Obama, I'm not buying the government is the answer to our problems argument. Only thing government should do is cut taxes, so people have more of their money to spend. And stop catering to special interests, on both sides of the aisle.
stephley stephley 8 years
Org, they complained that too many of the last checks went on practical things and not economy-stimulating purchases, so no food, just stuff you wouldn't buy unless you won the lottery.
CaterpillarGirl CaterpillarGirl 8 years
organicsugr organicsugr 8 years
If people were paying over a thousand dollars in taxes, they could just let them keep their own money, as opposed to swirling it around in the treasury and then handing it back. But yeah, I think they should give Apple store gift cards. As well as Whole Foods. I mean, have you seen the price of arugula? I need my aromatic salad greens.
stephley stephley 8 years
Maybe the government could give our favorite stores money and have them send us gift cards - with that kind of incentive, I'd blow a pile in the Apple store.
stephley stephley 8 years
"It's just an excuse to give money to people who aren't paying taxes." Huh?
organicsugr organicsugr 8 years
The idea of a stimulus check is asinine. It's just an excuse to give money to people who aren't paying taxes. Instead of giving people a $1000 tax break, the government spends time and money printing, processing, and mailing checks to people instead of just letting them keep their own money. And then people are supposed to be stupid enough to go spend it like it's free money? Come on.
Jillness Jillness 8 years
"Even if there is a second stimulus check, it will need to be spent to do any good. I have heard a lot of people say they are going to save it this time, and that won't to the economy any good." When times are rough, I have a hard time believing that people will just sit on the money. They will most likely spend it on necessities. And while paying the grocery bill might not be exotic, it still helps the grocery store employ people, and helps the economy.
Jillness Jillness 8 years
There is a tax cut, not stimulus check from what I hear. I think a lot of dems have issues with giving tax cuts to businesses who hire new employees. I think that at some point, people need to realize that we do need to compromise. I dont think that any one ideology works in it's extreme form. I know that many dems shudder at helping businesses, but jobs are what build a strong economy. You need businesses to create those jobs. I think this would be especially helpful for small businesses. From what I hear, it sounds like Obama is doing a multi-pronged approach. Tax cuts for individuals and businesses that create new jobs, investing money into the infrastructure in Fed buildings, schools, energy grid and renewable energy (which will create more jobs). Especially with his creation of the new post, I think that he will be drastically cutting spending on programs that have not shown to be successful.
amybdk amybdk 8 years
I didn't think Obama's plans included a second stimulus check to individuals? I could be wrong... I believe that the plans include a $1000 tax rebate instead of issuing stimulus checks.
Jude-C Jude-C 8 years
"Yeah, now Congress wants to stop and think - they've already sent out a flood of money to people who caused our problems, now before they do anything about the layoffs, the bankruptcies and the foreclosures, they want to think things through. Our lives and our childrens' health and education can wait..." My thoughts exactly.
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