Metro Atlanta taking lots of big hits

Record unemployment in metro Atlanta — 10.8 percent.

Monthly foreclosures hit an all-time high — 12,568 notices.

One of the crown jewels of our economy — Hartsfield-Jackson — is affected by a slowdown in traffic.

Schools and colleges are facing their most serious budget cuts since who knows when.

You get the idea.

How are you dealing with all this? What will it take to turn around?

For instant updates, follow me on Twitter.

36 comments Add your comment

Spanky Spankmeyer

March 15th, 2010
8:32 am

Things will not turnaround until the Dems and Obama are swept from office.

Spanky @ssHoelee

March 15th, 2010
9:04 am

Thanks again George W. Bush!

Unemployed

March 15th, 2010
9:13 am

So, what else is new?

N

March 15th, 2010
9:20 am

Umm, your only focusing on the bad news. From what I have seen the good news has far outweighted the bad news in 2010. You failed to mention we expect job growth (net increase in new jobs) in March 2010, the reason the unemployment rate ticked up recently was because people who had stopped looking began looking again because they are more positive things are getting better. Not to mention the economy grew at 5% last quarter, the largest growth rate in nearly 5 years or so.

Cane

March 15th, 2010
9:24 am

The economy usually gets blamed on the President. Rightly or wrongly. But I don;t think I have ever seen the situation that the economy is being blamed on the previous President. You Bush bashers need to realize that he isn’t the cause of the current problems. Wanna blame someone and make some sense at the same time? Then blame Greenspan.

Bush Destroyed our Economy

March 15th, 2010
9:40 am

Bush Destroyed our Economy, Plain and simple and it’s going to take a decade at least to straighten out HIS mess!

T-Steel

March 15th, 2010
9:43 am

To blame Obama and Bush solely for this is silly. In fact, the blame Democrats or Republicans solely for the past decade is silly as well. This is systemic failure of our financial and governing systems and structures. Democrats, Republicans, and many regular Joes and Janes spent like crazy. Drunk on the cheap and abundant credit that was available. We encourage rampant speculation (without limits) because we got paid. In in America, getting paid in abundance is the way, the truth, and the light. What we are experiencing now is a MASS CORRECTION. It is the horrific hangover of Americans being spendthrifts. Go ahead and blame Obama all you want. Blame Bush all you want. But this is about all of us being dead wrong and many things. This is the time for a serious coming together, sacrifice, and lots of determination. Right now, current Democrats and Republicans in office don’t get it. If it was left up to me, I would have co-Presidents (one Dem and one Repub). And they will hash everything out from their respective parties and come up with a REAL AMERICAN solution. Not Dem-sponsored and Repub-rejected (at this time).

Enough…

The Economy

March 15th, 2010
9:45 am

It will get MUCH MUCH WORSE, count on it!

T-Steel Thumbs Up

March 15th, 2010
9:48 am

I think T-Steel pretty much nailed it

Emma

March 15th, 2010
10:01 am

@The Economy: Totally agree!

Cane

March 15th, 2010
10:04 am

T-Steel makes a lot of sense. The Bush/Obama bashers sound like stupid children. One thing is for sure, blaming Bush ain’t gonna get you anywhere. For those who don’t already know, although the President generally gets blamed for a bad economy there is little a President can do to either derail it for get it back on the rails.

Bash Bush all you want. Just come to the realization that the President doesn’t control the economy.

Dave55

March 15th, 2010
10:15 am

Atlanta has Coke, UPS, Georgia Pacific and Lockheed posting big gains. They are the major economic engines, along with the airport, which will come back in the next 18 months. We quit building houses, which will resume again next year, then Home Depot might pick up. The one thing that hurts us long term is education. We already have a long ways to go for that one to be anywhere near nationally competetive, but a large portion of that is our melting pot demographics. Create, create, create!

Corey

March 15th, 2010
10:16 am

Did you guys see 60 Minutes yesterday? There was a an insider from Wall St. on there who laid out how we got to this point. The only thing we can blame the government for is taking its eye off the ball and letting the financiers on Wall St. run wild. By screaming Obama and Bush Democrats and Republicans you miss the mark. Place blame where blame belongs. What is really crazy is that the same financial institutions who took government handouts are turning around and financing the government through loans and taking a cut. It’s like this. I bail you out. You finance my debt with the money that I bailed you out with while making a profit off the mony that I bailed you out with. Is that crazy or what? And it reverberated around the world. We can hope and pray that things hold together long enough until a real recovery takes hold. Brace yourselves; it will not happen overnight, nor four years. Mr. Obama’s problem is he wanted to be president at the wrong time, and the racists are all too eager to let their self fulfilling prophicies take center stage. Financial reform is sorely needed. Have a nice day everybody.

atl

March 15th, 2010
10:17 am

Turn around? What Turn around? We are still at 10%+ unemployment

Don Simon

March 15th, 2010
10:19 am

This is an excellent time to start a new business. There are many that require little capital that provide services to small businesses or residential services to homeowners such as lawncutting, window washing, gutters, painting, doing errands, cooking, paying bills, etc etc. Create a simple plan and execute it. If you are too overwhelmed to do it by yourself get a partner. Over 1/2 of all businesses in existence were created in downturns. Promote it every day and be persisitent. Tell those being negative to stop it.

Cane

March 15th, 2010
10:24 am

Most small businesses require capital. Banks are clearly not lending now. It may be an excellent time to start a business that doesn’t require capital but cutting grass is for teens. I would disagree that this is a good time to start a business as the capital required is unavailable.

NoTaxCuts

March 15th, 2010
10:52 am

“PARKERSBURG, W.Va. – The retirement nest egg of an entire generation is stashed away in this small town along the Ohio River: $2.5 trillion in IOUs from the federal government, payable to the Social Security Administration.

It’s time to start cashing them in.

For more than two decades, Social Security collected more money in payroll taxes than it paid out in benefits — billions more each year.

Not anymore. This year, for the first time since the 1980s, when Congress last overhauled Social Security, the retirement program is projected to pay out more in benefits than it collects in taxes — nearly $29 billion more.

Sounds like a good time to start tapping the nest egg. Too bad the federal government already spent that money over the years on other programs, preferring to borrow from Social Security rather than foreign creditors. In return, the Treasury Department issued a stack of IOUs — in the form of Treasury bonds — which are kept in a nondescript office building just down the street from Parkersburg’s municipal offices.

Now the government will have to borrow even more money, much of it abroad, to start paying back the IOUs, and the timing couldn’t be worse. The government is projected to post a record $1.5 trillion budget deficit this year, followed by trillion dollar deficits for years to come.”

I guess you will try to blame this on Obama, as well.

Berry Walton

March 15th, 2010
11:02 am

Two words for this mess….GREED and ARROGANCE…plain and simple!

Barrington

March 15th, 2010
11:06 am

PEOPLE,

When will we WAKE UP. The MAIN PROBLEM WITH this country is the FEDERAL RESERVE, not left vs. right or CONSERVATIVE VS. LIBERAL. This is not about POLITICS, PEOPLE. We will NEVER be out DEBT to the international bankers that loan OUR GOVERNMENT money that WE PAY interest on. MOST OF YOU have no idea what I am talking about and you will just SCROLL PAST MY POST. The time is NOW that we TAKE THIS COUNTRY back from the the control of the Federal Reserve.

DO YOU KNOW that it is our CONSTITUTIONAL RIGHT to overthrow an OPPRESIVE GOVERNMENT? These CROOKED POLITICIANS are trying to pass a healthcare bill that most Americans don’t want. THE TIME IS NOW!

What Mortgage

March 15th, 2010
11:16 am

Just got back from my Hawaiian 6 week vacation. I enjoyed it. No Mortgage or debt and because I worked my ass of for years to make sure I owed NO One…..

Everything is wonderful…..thanks

What Mortgage

March 15th, 2010
11:16 am

and no one GAVE me a penny!

peaches1875

March 15th, 2010
12:20 pm

Everything will be ok, when the Republicans all jump in a lake. Bi-partisan – My A@#. You didn’t have no money when Bush was in office. Exposed!!!!!! The economy will get better when people realize that there is no money.

Kenbud

March 15th, 2010
12:25 pm

I appreciate everyone blaming Bush and Obama ….. kinda crazy though. It’s the banks …. always has been, always will be …. until they are 150% monitored they will continue to spend money like it’s going out of style (Hello bonuses to executives. Why can’t you suffer like us all? When’s the last time you got a bonus??!!??). I know it goes back to the politicians, but there’s history there between them and banking …. under the table for passing a bill … that kind of thing. Until politicians stand up for the PEOPLE, nothing or little will happen ……

Tom

March 15th, 2010
12:27 pm

Think globally, act locally….just an oldtimer but still employed. Spending less, volunteering more, donating to food banks, lunch programs, helping friends and relatives, trying to be Human!! Can not solve all the problems but can help those in need.

peaches1875

March 15th, 2010
12:53 pm

What I don’t get is the fact that people are letting their houses go. Don’t give up so fast. Their are backs working with people. The bank are going recycle the houses back to someone who can afford it RIGHT NOW!!! Absolutely nothing is guaranteed. I saw 60 minutes, the guy makes fast money and he has to spend just as fast. I won’t last. Look at the banks with all that fast money schemes, their right back where they started. EVEN!!!! You won’t get rich, when people are suffering. WAKE UP!!!!

Phil Brown

March 15th, 2010
3:20 pm

I really don’t care who at blame. GIVE ME BACK MY SOCIAL SECURITY MONEY BACK! I can do alot better investing it myself. I just hate to see it being used for the fat cat in goverment with there 50 to 100 dollars plate dinners.

State Worker

March 15th, 2010
3:57 pm

I better not lose my job with the state. I’ve got a big pension that I’ll start getting in about 5 years and I bought a $400,000 house a few years ago in South Dekalb. If I get laid off the government better pay my mortgage–because I’m not paying it. There better be some gov’t programs to pay my expenses if I lose my job or my salary gets cut. I won’t put up with it!

Government is whats wrong

March 15th, 2010
4:19 pm

You want a guarantee if you lose your job as a State Worker? I don’t get a guarantee and I don’t get half your benefits yet I pay a lot of taxes so you can have all that and you want some sort of guarantee? You should put up with it, you work for the tax payers, and if your salary gets cut then so be it, go find a better job, but don’t expect free hand outs.

Maybe we need to layoff a lot of State Workers, and make government smaller instead of cutting school funding? Where is the logic here education should be more important than anything else. Sorry State Worker I will not feel sorry for you if you lose your 400k house, maybe you should have bought something smaller like a lot of us did.

Mishap

March 15th, 2010
4:38 pm

^ I think you’re talking to a troll there. Seems rather generic and abstract outside buying a house in South Dekalb implying the speaker is a minority.

Gov’t benefits are no doubt overly generous but it’s rare even among the worst of entitlement to talk like that.

TnGelding

March 15th, 2010
7:47 pm

I’m helping the unemployed in my neighborhood as much as I can. It hasn’t affected me (retired)directly except for real estate values. The trend is in the right direction. A lesson learned the hard way by our young, impatient folks,

TnGelding

March 15th, 2010
7:50 pm

Phil Brown

March 15th, 2010
3:20 pm

Or invest it with Madoff? Don’t worry. If you live long enough you’ll get your money back. And even if you die young and leave a family they will receive benefits.

G Cancryn

March 15th, 2010
11:48 pm

Good for you What Mortgage. What do you want, a biscuit?

RepubsToBlame

March 16th, 2010
4:35 am

Yeah, spending $2 trillion on needless war and hundreds of other foolish decisions to make the rich richer for 8 long years had NOTHING to do with the current state of the economy. Republicans are 90% to blame. Heck, in 2008 they STILL thought it was prudent to vote for a 70-something and an airhead.

Union Now

March 16th, 2010
11:23 am

The georgia state workers need to form a powerful union to prevent any layoffs, salary cuts or reduction in benefits. Also, the union can get the workers more benefits, including a lot more vacation pay than they get now. The union is the answer—otherwise, they will keep getting hosed by the rich in control.

Ari

March 16th, 2010
12:24 pm

Bush was looking for weapons of mass destruction in Iraq when he should have been looking for them on Wall Street!

Lazy state workers

March 16th, 2010
10:28 pm

These state workers complaining about jobs–a total joke. 99% of state workers are morons and couldn’t get a job in the real business world, except a fast food job. They are lazy and way overpaid. The state needs to cut the salaries of state employees by 30% across the board, soon!