Although it's better than the White House administration predicted, new estimates indicate that the budget deficit will reach a record $1.47 trillion this year. For every dollar it spends, the US government is borrowing 41 cents.
It looks like a jobless recovery for the nation. Currently the unemployment rate averages 9.5 percent and new estimates show it will hover around 9 percent next year.
The Office of Management and Budget forecasts a still-high unemployment rate of 8.1 percent going into 2012 - that's when Obama would seek re-election.
AP: Obama "has done little to confront this domestic enemy," said Rep. Mike Pence, R-Ind. "Washington desperately needs real leadership. We cannot continue to postpone the hard choices and sacrifices that are necessary to stop this fiscal train wreck."
Washington Post: at a time of heightened public anxiety about government borrowing, the forecast of three consecutive years awash in such high levels of red ink is certain to provide fresh ammunition to Republicans campaigning to regain control of Congress in the fall midterm elections.
Business Week: A CNN-Opinion Research Corp. poll released today showed 42 percent of those surveyed approved of Obama’s handling of the economy while 57 percent disapproved. It was the lowest approval rating since he took office. The survey conducted July 16-21 among 1,018 adults had an error margin of plus or minus 3 percentage points.
Comments
Why am I gonna work when I'm gettin paid? You know that money gonna keep flowin baby. You and me the same. Yall don't admit but you know we true. We just want that money. I get my check an I be just fine. Send at money baby. Mo money, Mo money, Mo Money! I been gettin it for alomst 2 years and these fools want me to go back to taht place for another $100 a week. I ain't no fool. I'm gonna sit right here till that free money run out. and wit my new man int he big house I'm good for awhile. Yeah baby! It's are turn!
Sounds like you're jealous, Angel, err - I mean - Devil girl. You hate your job THAT bad?
You hate your job so much that you'd rather be layed off and collect just around 40% of your current pay?
How are you going to maintain your current life-style by receiving about $60.00 less per $100.00 that your job pays?
If you're currently earning $500/week, you'll have $300/wk less if you're laid off.
If you're currently earning $300/week, you'll only get about $120/week on UI compensation.
You're jealous of people who lost their jobs and struggle to get by on about 40% of what they used to earn.
Why are you jealous? Seems you must not want to work, because it is stupid of anyone to envy the stress unemployed people feel due to greatly reduced income.
Sounds like you're jealous, Angel, err - I mean - Cheryl. You hate your job THAT bad?
You hate your job so much that you'd rather be layed off and collect just around 40% of your current pay?
Devil, Cheryl, or whatever you're posting as, how are you going to maintain your current life-style by receiving about $60.00 less per $100.00 that your job pays?
If you're currently earning $500/week, you'll have $300/wk less if you're laid off.
If you're currently earning $300/week, you'll only get about $120/week on UI compensation.
You're jealous of people who lost their jobs and struggle to get by on about 40% of what they used to earn.
Why are you jealous? Seems you must not want to work, because it is stupid of anyone to envy the stress unemployed people feel due to greatly reduced income.
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