The Administration’s mismanagement of the economy continues to take a heavy toll.In August the economy lost 216,000 jobs, roughly equivalent to the population of Reno, NV, just in case Harry Reid is interested. Over 5 million Americans had been out of work for over 6 months. Over 9 million were working at part time jobs because that was all they could get. Another three-quarters of a million were no longer bothering looking work.
If workers who have accepted part time employment and discouraged workers were included with the unemployed, the unemployed rate would now be in Jimmy Carter country at 16.8%.
Speaking of Hope and Change, the Change came through in August with average hourly wages increasing by six cents, or $124.80 a year. Woo hoo, time to party like it was 1979.
by Streiff at RedState
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What should be done? We should encourage the immigration of prime-age individuals. Beginning in 2007, net immigration fell to half of its level over the previous five years. Increasing immigration would increase the demand for housing and raise home prices. And note that the benefit would be immediate. Home prices — and the value of subprime obligations — would rise in anticipation of a higher population base. The U.S. particularly needs highly skilled workers. These workers not only would purchase homes, but would generate higher living standards for all Americans.
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