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View Diary: Job Report Proves Austerity Fails–GOP’s Path To Depression (4 comments)

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  •  Unfortunately.... (0+ / 0-)

    I'm noticing less and less coverage and less and less reaction to ANYTHING about employment or unemployment.  

    Back in September and October, before the election, the unemployment rate and the jobs reports were top news, with people digging to find any info and make any sense of the unemployment rate.  

    After the November election, the interest in the employment/unemployment numbers has fallen off of a cliff.

    That's unfortunate, because any recovery is still fragile, as shown by the recent GDP report, and because the GOP is still pushing for austerity.  

    Many people do not know about the Recession of 1937.  After the start of a decent recovery in the 1933-1936 time period, the feeling of FDR and most of his advisors was that belt-tightening was necessary.  That resulted in a precipitous increase in the unemployment rate in 1937... Things really didn't turn around until the next year when war in Europe was starting to look inevitable and, then in 1941 when we started to equip the UK.  

    Of course, the economic event that really kicked the Depression to the curb was the big huge stimulus that was named World War II.

    We need a War on bad roads, bad schools, and a renewed War on poverty.  We won't get it.

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