Georgia unemployment rate rises to 10.1 percent in July
Georgia’s unemployment rate rose to 10.1 percent in July, from 9.9 percent in June, the state labor department said Thursday.
There has been no improvement from a year ago, when the state’s jobless rate was also 10.1 percent.
July marked the 48th consecutive month Georgia has exceeded the national unemployment rate, which is currently 9.1 percent.
The July increase was due primarily to traditional seasonal layoffs, with about 80 percent of them in state and local education, the labor department said.
Georgia lost 30,200 jobs in July. In addition to 24,500 jobs lost in government and education, business services lost 2,200, while construction lost 1,800. Overall, the number of jobs declined seven-tenths of a percentage point from a year ago.
On the positive side, manufacturing gained 1,400 jobs — the first July increase in manufacturing in 18 years, the labor department said.
State Labor Commissioner Mark Butler blamed the political environment in Washington for hurting job growth.
“I believe the recent lack of leadership in Washington is a contributing factor to the overall lack of confidence in the economy,” Butler said in a statement. “Due to this lack of confidence, we are seeing a business community which is hesitant to make further investments in this economy.”
The number of long-term unemployed workers — those jobless for at least 27 weeks — increased for the first time in five months to hit 251,100, the labor department said. The number of long-term unemployed remains 9.1 percent higher than a year ago. The long-term unemployed account for 52.9 percent of Georgia’s 474,577 jobless workers.
Also, first-time claims for unemployment insurance benefits in July rose 4.4 percent from June. Most of the first-time claims were filed in manufacturing, education, services and construction.
– Henry Unger, The Biz Beat
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180 comments Add your comment
D. DuB
August 18th, 2011
9:02 am
Very well put Reality @ 8:45.
Reality
August 18th, 2011
9:05 am
ABC = 123
Okay, let me respond to your point…
Georgia pays way more of OUR tax money to a corporation to move here compared to any taxes collected from the jobs it may create. For example, the company that recently announced that it is moving to Norcross MAY create under 100 jobs – not that many – and most are very low paying jobs (maybe 10 management type positions).
Now, let’s assume it is a manufacturing company instead. Again, many low paying jobs – mostly minimum wage. That simply does not bring in much for the State.
And, to make it even worse, the deal that the State makes with these companys has a shelf life – usually 10 years. This means that a company takes the huge windfall to move to our State, builds a large building for manufacturing, uses the State tax-breaks for 10 years, then moves on to another deal in another State. This leave Georgia in worse off condition in 10 years – the unemployed are still unemployed and we also have this monster manufacturing building left empty (sound familiar?).
Texas is now the #1 State for giving these corporations the most lucrative deal and Georgia is in the top 5. This approach is a short term fix at best.
By the way, if you are going to the gutter with name calling, at least get it right. Taxing corporations is not at all a “commie, leftist motivated policy.” Educate yourself, please.
D. DuB
August 18th, 2011
9:05 am
8:54.
Karen
August 18th, 2011
9:09 am
Let’s ask Gov. Deal to let go of his no bid contract anf hand it over to the umemployed. We could create at least ten jobs from that alone. Surely he will do what is best for the state, wont he? And then Graves could back back the 2 million to the bank that he took from, and whammo we have 8% unemployed.
larry
August 18th, 2011
9:09 am
he’s only a leader if we choose to follow the son-of-a-bitch.
Semi-Retired
August 18th, 2011
9:10 am
$330 per week, before taxes, continues to promote my upper middle class lifestyle. LG Baby!
Just an Idea
August 18th, 2011
9:11 am
An open idea for all those who think Washing know better how to handle your money than you do…. next year, when your IRS payment is due, send them some extra. Simple. No extra paperwork. No new 3,000 pages to tax code. Expected to pay $1000? Send them $2000 instead.
I’ll keep my money and continue looking for ways to become super rich on my own. God knows Washington sure isn’t going to do it for me.
Chuck
August 18th, 2011
9:12 am
Guess what the GOPs answer will be – lower taxes on the wealthiest Americans (some more) so they can create lots of jobs… because that’s already worked so well for the past 8 years.
Oh, and deregulate the financial industry some more, because that has worked really well so far.
We should definitely keep doing both of those things – not because they have ever done us any good, but because they are fantastic for the few people who own our politicians these days.
Obama Be Crashin'
August 18th, 2011
9:15 am
This just in:
“Seventy-one percent of Americans said they disapproved of Obama’s handling of the economy”
The other 29% must be posting on this board!
Obama Be Crashin'
August 18th, 2011
9:18 am
Update on our Nobel Peace Winning President:
“Approval for Obama’s handling of the Afghanistan war was also sharply lower. His ratings have fallen by 15 percentage points since mid-May, when they hit 53 percent after the killing of al Qaeda leader Osama bin Laden.”
And GitMo is STILL open for business!
LoveOfMoney
August 18th, 2011
9:20 am
The Tea Party nationwide, and pretty much every southern red state, are racists plain and simple. Their sphincters clinched up the second Obama was elected and haven’t let loose since. That’ll drive anybody crazy. They will completely destroy this country, leaving their grandchildren to be attacked by rape gangs in the newest third world country, the future USA, rather than see a black man succeed in the *White* House. Meanwhile, the filthy rich who were basically given the entire wealth of the country by Bush Jr. sit in their armed compounds, concentrating on making more money in China, India and South America. Then just before it hits the fan they will transfer what little bit of their wealth remains in US Dollars to other currencies and flee the country to live safely in a fortified mansion somewhere else, lamenting the fall of the US (which they caused) out of one side of their mouth, and laughing out of the other.
Silly
August 18th, 2011
9:20 am
For those wondering where the Hope and Change are from the Democrats, where is the Country First from the Republicans? You see, that was John McCain’s campaign slogan. Kind of dopey to cling to such things as your main argument. They are merely slogans, people. Think beyond a 140 character level.
I think
August 18th, 2011
9:21 am
The economy is a bipartisan disaster. I have no respect for our State Labor Commissioner for passing the buck to Washington. I could blame other people for problems in my job, too, but I know it is just an excuse to not try my hardest. Mr. Butler should never be voted into another public service job if he is going to look for scapegoats for problems which are his responsibility. I believe democrats and republicans alike can see through his bs. Someone with integrity should be in his position. I would dare say that there are many unemployed people out there that could do his job and be humble enough to accept downturns as their problems to fix.
You folks who are being partisan about our state problems should realise that the same people that are running the state were democrats twelve years ago. Most of them do not care about your problems as long as they can hang on to the power. Am I jaded-yes. Are they jaded-most definitely.
Bring Back Clinton!!!
August 18th, 2011
9:21 am
As a former Republican, not Libertarian, I have to say BRING BACK CLINTON!
At least people were working – there was balance in gov’t – and the post-cold-war savings were doing something to benefit us all (even if 10 yrs later we’d come crashing down).
Remember when you could flip a stock for a 30% profit in just 2 hours?? Remember flipping houses for a 50% profit in just 2 weeks?? Remember the finger wag? That was leadership!
The perception of wealth is better than the reality of poverty.
Concerned
August 18th, 2011
9:23 am
How does Rick Perry get credit for job creation in Texas and Georgia wants to blame Washington for jobs lost here? Will Nathan Deal take responsibility for his states failures on his watch or does he just want credit when things look good?
Sick and Tired
August 18th, 2011
9:39 am
If the government is so efficient and responsible at taking care of low income and our impoverished citizens why do Warren Buffet and Bill Gates feel the need to set up their own charitable organization? Why not just give the money to our government and let them hand it out as entitlements and welfare? Isn’t it ultimately helping the same group of people?
They don’t because they know our government is irresponsible, inefficient, and incapable of managing its finances. It probably take something like $7 of overhead to get $1 to the person who needs it.
I don’t like paying taxes but I would be willing to pay even higher taxes than I do today if only the government was a good steward of MY money. That’s right it is MY money not the government’s money, they didn’t earn it.
Everyone should have skin in the game when it comes to paying taxes, including the 50% who don’t pay Federal Income Tax.
If you aren’t paying Federal Income Tax why the heck would you care how the government spends it?
Raise minimum wage by a $1.50 and tax it out of the paychecks of the 50% who don’t pay taxes… Maybe then, when they see real income they are losing, they will give a darn how it is being spent.
President Decider
August 18th, 2011
9:39 am
I agree with those above who assert that the Tea Baggers are racist to the core and need to be shown the door. Their political posturing at the expense of our country is their only way of demonstrating it without being cast outwardly as a bigot.
gm
August 18th, 2011
9:40 am
01HAWK
I guess Obama was in charge of Georgia for the last 10 years?, what you need to be saying you are not going to vote for the Rep conservatives in Georgia who have no done anything for this state instead you fall in that supid trap like most conservatives blaming it on the President.
Sonny and Deal have not brought any jobs to this state but these country hicks vote Rep every election and expect different results.
Hawk about every job bill the President tried to pass the Rep party kills it, what was the last job bill the Rep house tried to pass?
Please dont be supid””
Give me a break
August 18th, 2011
9:40 am
Why is it that other states have a lower unemployment rate than Georgia?
If Washington was really the issue wouldn’t every state have similar unemployment rates?
If we keep electing the same Republicans for office, why would we expect different results?
Georgia voters have been duped by the Republican party.
Real American
August 18th, 2011
9:46 am
Rick Perry hates government, but Tex added 115,000 government jobs, Perry hates government but Tex took in millions of dollars from the Government, will the real hypocrites of the tea party and Perry please stand”””’
Red State Losers
August 18th, 2011
9:49 am
01HAWK can’t see the forest for the trees. When you consider that the repubs have said “NO” to almost everything, and purposely (admittedly) tried to destroy Obama, he has been relatively successful. Continue to drink your ignorant kool-aid. Did you vote for Obama because he was Black?? Dude, he was clearly the best candidate compared to McCain. You can’t possibly be this goofy. Let the repubs continue to make excuses for the failures of the state they run. As long as they have ‘chopper cottons’ like you to back them…we’ll stay in this hole.
President Decider
August 18th, 2011
9:51 am
Excellent post Sam (Page #1) – I’ll show it again for everyone to read and digest:
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Bush should really be in prison for destroying the country. Instead of doing anything for this country, he was fighting was against countries that had nothing to do with 9/11, given a blank check by the Republicans. And he watched and did nothing as the housing and banking industries collapsed. And somehow this is Obama’s fault? Really? … Really?
I guess the stupid people can keep drinking the FOX News Kool Aid and listen to the right wing extremists on WSB. And then of course you have the Tea Party extremists hijacking the future of this country. No spending of any kind. Government is evil. We will not raise taxes on America’s wealthiest who have been getting a free ride far too long … and NO we won’t close up tax loopholes that the wealthy have been abusing. I mean what the hell?
The Tea Party is leading the future of this country right off a cliff. If real conservatives are too dumb to realize this .. let them go with ‘em!
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
gm
August 18th, 2011
10:09 am
Other Gov took the stimuls money and put people back to work Mont, Wm, Co, Ks, Mn, shady Sonny took stimuls money and invest it in his private projects.
Oh but wait, its Obama fault because we have a bunch of stupid hicks who vote the same Rep in who steal our money and dont bring jobs here.
RGB
August 18th, 2011
10:23 am
President Decider:
Like Obama, you’ve offered no solutions. Not one.
And you wonder why things aren’t getting better!
Don’t you even have a small idea? A teeny tiny one?
Samantha
August 18th, 2011
10:25 am
So what is our Governor doing? He promised job growth. I don’t know why people automatically want to blame President Obama for this mess. Our governor is a Republican. He promised jobs….where are the jobs? It’s going to get worse because all of the seasonal employees that work at places like 6 Flags over Georgia are about to be laid off because they are seasonal workers. President Obama is doing all he can do, but it’s the Republicans that are fighting him tooth and nail. It’s also those idiotic ‘tea party’ people that are trying their best to make President Obama a 1 term President just so they can mess up the entire country! The devil is a lie and it won’t work. OBAMA 2012!
I and millions upon millions of other people will re-elect him. 
OBAMA! We need to continue to make a POSITIVE CHANGE in this country!
DougH
August 18th, 2011
10:28 am
What a surprise. You cut government spending, you lose government jobs, and the unemployment rate rises; who’d a thought?
This is the wrong time to balance budgets. Governments are usually the providers of the seeds of demand in a slow economy. The Tea Party has turned this idea on its head. Instead of our government stimulating the economy, they are putting a damper on it.
I don’t blame the loud mouths in the Tea Party. I blame the rest of the dumb Americans that are so ignorant to how the economy works that they are willing to listen to that crap.
We are always going to have someone selling snake oil (supply side economics.) We as Americans shouldn’t be stupid enough to buy it.
“There is class warfare in America. Right now my class is winning big.” – Warren Buffet
RGB
August 18th, 2011
10:28 am
Samantha,
What is our governor doing? He’s not imposing federal government regulations that choke the life out of the economy.
Here’s an excerpt from Neal Boortz–if you’re interested in facts. But if you’re just one of those people clinging to Obama because he’s black, move on–nothing to see here.
Here’s what Obama has managed to do so far:
In the first six months of the 2011 fiscal year, 15 major regulations were issued, with annual costs exceeding $5.8 billion and one-time implementation costs approaching $6.5 billion. No major rulemaking actions were taken to reduce regulatory burdens during this period. Overall, the Obama Administration imposed 75 new major regulations from January 2009 to mid-FY 2011, with annual costs of $38 billion.
Here’s what we can expect in the future .. more regulation!
The spring 2011 Unified Agenda (also known as the Semiannual Regulatory Agenda) lists 2,785 rules (proposed and final) in the pipeline. Of those, 144 were classified as “economically significant.” With each of the 144 pending major rules expected to cost at least $100 million annually, they represent at least $14 billion in new burdens each year.
This is an increase of 15.2 percent in the number of economically significant rules in the agenda between spring 2010 and spring 2011
Johnson, Lewis, Host Job Fair Today — Peach Pundit
August 18th, 2011
10:33 am
[...] news this morning as Georgia’s unemployment rate again crossed 10%, now standing at 10.1% of Georgians looking for work unable to find [...]
RGB
August 18th, 2011
10:34 am
Samantha,
Notwithstanding your knowledge of seasonal workers in the entertainment park industry, I think you should double-down on the idea that businesses don’t like uncertainty. If they can’t predict the future costs of their operations, they don’t expand. Bone up on the concept of using business case analysis to make decisions.
Here’s a short video of the CEO of several restaurant chains discussing the impact that uncertainty has on his operations. His company employs 70,000 people, so he has more credibility on the topic than, say, President Obama who has never hired a single employee in the private sector.
http://www.youtube.com/watch?v=W0S3xfheycU
This just in
August 18th, 2011
10:35 am
Stock market crashing today. Obama approval ratings at all time lows. 30-yr mortgage rates hit all time low. Treasure bonds at all time lows. Gold now at all time highs. Unemployment rising back over 10%.
It’s been over 2 years since Mr Hope & Change took office — and things are getting worse by the day even after spending a trillion dollars in bailouts and stimulous.
So, Obama supporters, when does the “W” economy offically become the Obama economy???
lawrencevillelions.org » Johnson, Lewis, Host Job Fair Today
August 18th, 2011
10:38 am
[...] news this morning as Georgia’s unemployment rate again crossed 10%, now standing at 10.1% of Georgians looking for work unable to find [...]
Chuck
August 18th, 2011
10:45 am
With the Tea Party and Repubs we will have tons on jobs. Let’s cut Gov’t spending. Only very foolish people think will help. LOL
Enough with the talking points.
August 18th, 2011
10:54 am
“I think you should double-down on the idea that businesses don’t like uncertainty.”
Oh shut up about uncertainty. When in history has economic information been perfect and profits guaranteed? Running a business is inherently risky–always has been, always will be. I’m more inclined to agree with Warren Buffett’s outlook than some hack fast food chain CEO.
Typical Retard
August 18th, 2011
11:09 am
I think we should lower taxes even further for the super wealthy since they are doing such a wonderful job creating jobs! Forget trickle down economics, they are making it rain. Lets also cut services for the poor and elderly so we can really move this country forward!
Javon
August 18th, 2011
11:15 am
This is all the fault of the tea party and rich republicans who have all that money. the government needs to raise taxes on all these rich billionaires and give it to people who can’t find jobs. The unemployment benefits need to be doubled—I can’t live on this chump change the state gives me.
All American Eighty Duce
August 18th, 2011
11:25 am
How can Mark Butler blame president ZObama for Georgia’s problems and not blame tha last eight years of the sonny Perdue administration? He’s a hipocrit. During Baker’s election he critisized Pres. Obama for blaming former Pres. G.W. Bush
All American Eighty Duce
August 18th, 2011
11:28 am
I still haven’t seen a job’s bill come out of either party of congress, The last time I checked they were responsible for legislation, not the president… people are so biased and pointing fingers and are too stupid to know where they need to be pointing, pick a phone up and call your congressman or woman and ask them what is their plan on job creation.
kcerab
August 18th, 2011
11:29 am
Go ahead and blame president Barack Obama when it was a Republican president over the nation and a Georgia Republican governor that got us into this mess. 48 months in case you can’t count means this has been a problem in Georgia long before president Barack Obama took office. And for you short memory folks, the major economic downfall happened at the end of George Bush’s presidency! He took the country down in the ditch and slowly walked away and not looking back. Upon his departure, he lined the coffers of his rich supporters by giving them billions of dollars to make sure they could further the cause by keeping the country in a lull, slow to no growth during president Barack Obama’s first term. If this was not enough, they even tricked him into giving them more money specifically to create jobs and get credit flowing and what did they do and are still doing today with all this money? They are sitting on it. Why? Is this a conspiracy? You be the judge.
Then we have the Tea Party being funded by who do you think? Their mission is to stop the spending whatever the cost. Forget about unemployment rate reaching higher levels than it was during the great depression or 50 million more Americans without jobs and the children being most impacted. Is this the revolution you want? Take the blinders off folks, and stop being sucked into a cause because it sounds good. Try to understand the ramifications of some of these radical proposals. Yes change is hard and it can happen but it takes a while to get there, but let’s do in intentionally and in a plan that proves to be less disruptive of our way of life. Name calling and negative emotional outburst on this outlet is not going to move us closer toward solving problems. It will do exactly what is happening in congress, deadlock.
Osiris
August 18th, 2011
11:40 am
RGB – Yes, a lot of new regulations were recently passed but you seem to be conviently forgeting why. Remember Lehman Brothers, the Banking Crash, Auto Industry Crash, Mortgage Company Crash. How many Billions did that cost the government and by default, me and you the average tax payer. Billions! So yes, I want these regulations in place so it doesn’t happen again because you know what you get when you don’t have then. Georgia with the weakest Bank regulation leading the nation in Bank closures. Each time one of those Banks close and the FDIC has to bail them out, guess who that cost. You got it, me and you, while the CEO’s of these institutions skip away with millions. I have seen very few companies that like regulations but at the same time, they will not act for the public good without them.
Oh, and companies are sitting on Trillions right now and not hiring. You know why not, because they don’t need to. It has nothing to do with Obama contrary to popular belief. They have gotten use to getting more from its workers for less and have no need at the moment. Their is always uncertainity in business but if you can make money I don’t know a person that will turn down the opportunity.
kcerab
August 18th, 2011
11:47 am
Education is the “Key” One nugget I came away with in a seminar I attended last year helps to address this notion about the market not liking uncertainty. The one important element that is missed in this discussion is who controls the uncertainty? Most have been led to believe it is congress passing to many regulations or the president or what is going on in other places on the planet. Wrong! The uncertainty is caused by actions of a few major broker houses that control a significant amount of your investment dollars. They were the speculators that created the myth to cause gas prices to inflate on a probability Katrina would impact oil flow and the housing markets to deflate. It is unthinkable that a small band of entities could have so much power and the irony is the Tea Party mission is to give them more. Go figure.
01HAWK
August 18th, 2011
11:56 am
For some of you who want to BASH me for saying I will not vote for OBAMA again. Look at my comments.
I stated that it is time to give someone else an opportunity to see if they can do a better job. Whether it is a DEM or a Rep, we need some new blood to see if someone else can make some things happen.
Osiris
August 18th, 2011
12:11 pm
O1HAWK – Vote who you feel will do the best job but keep this in mind. One of the main reasons now for the uncertainity is Republicans who have stated that their mission in life is to make Obama a one term President and will do whatever it takes to make it happen. As such, over the last 3 years they have fought every bill and iniative that he has presented. He has offered compromise after compromise and extended the olive branch even when we didn’t want him too. I would vote out my unbending Congressman first. It’s hard to say if someone is doing a bad job when his policies are never given a chance. So then what, will you vote Republican because if their is a Republican President and a Republican Congress, things might get down. They might, but do you want a repeat of the Bush years. Remember his party controlled both branches for 6 of his 8 years. So don’t vote against him blindly anymore that you would vote for him blindly.
RGB
August 18th, 2011
12:11 pm
I’m more inclined to agree with Warren Buffett’s outlook than some hack fast food chain CEO.
Well, you and the president agree on that point.
And both of you–and all of us–are living with the consequences.
BTW, the DJIA is down 500 points. I know, only the “evil rich” should be concerned about the stock market as it has nothing to do with small investors, pension funds, mutual funds, 401Ks, etc.
01HAWK,
You’re thinking is pretty well on target as far as I can tell. We need results not rhetoric. Traveling around on a bus and giving speeches does nothing to rebuild the economy. And it doesn’t matter what the party affiliation the individual holds–though the few sound ideas that are coming through aren’t from members of the Democrat party.
Osiris, these new regs won’t prevent disaster from happening. They just add to the regulatory burden. One Dodd-Frank provision appears to require 20% down payment for home purchases. I’m OK with that but experts say it would absolutely kill the housing and construction markets. Is that a good regulation?
Or the ObamaCare regulation that required all businesses who spent more than $1,000 with a particular vendor would have to fire paperwork with the IRS. Does that promote business expansion? No it does not.
Or the report today from the White House that states that they generally DO NOT consider both the costs and benefits of the regulations they put into place–in spite of Obama’s telling a farmer yesterday that they consider both costs and benefits.
Only about 16% of Obama’s cabinet have ever worked in the private sector–the lowest such figure in history. There’s no wonder they are bereft of ideas about restoring the economy.
We cannot tax–and we cannot regulate–our way out of a failed economy.
Oh, and Osiris, if you believe in regulating financial institutions, how can you defend the fact that Dodd-Frank left Fannie and Freddie untouched? They drain taxpayers of many, many billions annually because of mismanagement and malfeasance. But Fannie and Freddie are Democrat-protected entities.
Barney Frank won’t regulate his boyfriend’s employer. It’s that simple.
Shataniana
August 18th, 2011
12:12 pm
“July marked the 48th consecutive month Georgia has exceeded the national unemployment rate,…”
Thank James Oglethorpe for this and most of the other substandard stats that Georgia enjoys. If you’ve never read any history you’ll have no idea what I’m talking about.
RGB
August 18th, 2011
12:12 pm
“your”. Oops. I’m typing too fast.
Kool Aid Drinker
August 18th, 2011
12:24 pm
Obama is doing a wonderful job!
RGB
August 18th, 2011
12:32 pm
One more thing my Egyptian God-named friend,
You dismissed “business uncertainty” as unimportant.
But the CEO (with 70,000 employees) in the video I referenced said that he couldn’t predict his range of costs in certain areas within a 500% range–all because of these new government regulations. He expressed that he had not seen anything like this in the past.
Plus, the CEO said that ObamaCare will cost his company more than double the amount they spent on construction last year to expand their business. Double!
So if things such as facts and costs don’t matter to you (because business has “always dealt with uncertainty”), then nothing does. Because nobody except the government will open an operation when then they know that it’s likely they’ll fail.
Things are different now.
Osiris
August 18th, 2011
12:57 pm
RGB – No regulations wont prevent disaster in all cases but it will prevent some and even mitigate others. If you have a better way to do it, feel free to suggest away but having nothing is not an option. Having nothing over the years got us everything from Enron to Lehman Brothers. Yes, 20% will hurt the housing market but I think part of this is trying to make not only the Banks but Real Estate Agents etc… all more responsible. It nice to blame the owner for buying a home that he could not afford but the real estate agent steered him/her their and the banks gave the loan. Everyone has a little responsibility in the housing mess and it’s going to take everyone to clean it up. Remember the 2 Georgia Senators who contersued the bank that gave them the loan for the hotel. They state that the bank gave them a loan they knew they couldn’t afford. Look it up, it was in the AJC a few days ago. Also not every regulation will expand a business but also they don’t all harm. Ask yourself with all of the meat recalls, do you want the meat industry less regulated, yet they are trying to gut the Farm Bill that gives the FDA more power for recalls and inspection. True, this doesn’t guarantee that all meat will be perfect in the future but it will lessen the chance of getting tainted meat and that is what the regulation is suppose to do. As long as the business is doing what it is suppose to do, it will survive and thrive as ones that weren’t are slowly driven out of business. And on the Frank Dodd Act. No one said the bill was perfect but one of the reasons that Fannie Mae and Freddie Mac was left out is that they are so complex that it would require a seperate bill. I do remember reading that one was suggested to shut down both. I don’t know if this is the answer but I would like to see.
Osiris
August 18th, 2011
1:03 pm
RGB – I don’t dismiss business uncertainity, I only state tha it has always been around. With every new administration or changes of power in Congress their is uncertainity but why is that stopping companies from hiring. Like, I said because they don’t need to. Think about this, one of the main reason, I support tax cuts to small business but not large ones is that for the most part with large business it doesn’t promote hiring, just their bottom line. If company A moves it’s factory to Mexico, what it has to pay an American worker $20/hr for, it can pay them $20/day. This is because Cost of Living is lower their. You can cut taxes on that company to zero but the Labor cost will still not merit a move of the company back to America. It’s hard to compete with someone that can live off of $300/month. That will not pay my mortgage! I would also listen to Buffet before this CEO. Buffet has wisely steered his company for 30 or 40 years, probably before this guy was out of diapers.
Enough with the talking points.
August 18th, 2011
1:15 pm
“BTW, the DJIA is down 500 points.”
Only a monumental idiot would equate half a day’s stock market performance with the long-term health of the economy. If the Dow gains a few hundred points tomorrow, I presume you’ll declare Obama’s policies successful?