Tim Graham
NewsBusters.org
5/21/2011
Here’s more figures suggesting most media outlets are skipping around the bad economic news. On the front of Friday’s USA Today was this story by Dennis Cauchon:
Nearly two years after the economic recovery officially began, job creation continues to stagger at the slowest post-recession rate since the Great Depression.
The nation has 5% fewer jobs today — a loss of 7 million — than it did when the recession began in December 2007. That is by far the worst performance of job generation following any of the dozen recessions since the 1930s.
In the past, the economy recovered lost jobs 13 months on average after a recession. If this were a typical recovery, nearly 10 million more people would be working today than when the recession officially ended in June 2009….
The article continues at NewsBusters.org
H/T The Twisters on Facebook. Also from The Twisters, Full text of Paul Ryan’s speech to the Economic Club of Chicago, 5/16/2011
I’m here to talk about the economy today – about the need to get four quarters of strong, consistent performance.
That wasn’t another Jay Cutler joke, I swear. It could be, but it’s not.
I’ll come to the point. Despite talk of a recovery, the economy is badly underperforming. Growth last quarter came in at just 1.8 percent. We’re not even creating enough jobs to employ new workers entering the job market, let alone the six million workers who lost their jobs during the recession.
The rising cost of living is becoming a serious problem for many Americans. The Fed’s aggressive expansion of the money supply is clearly contributing to major increases in the cost of food and energy.
An even bigger threat comes from the rapidly growing cost of health care, a problem made worse by the health care law enacted last year.
Most troubling of all, the unsustainable trajectory of government spending is accelerating the nation toward a ruinous debt crisis…
