georgephillip
Diamond Member
- Dec 27, 2009
- 43,795
- 5,230
Do you believe America's unemployment problem is structural and can NOT be fixed anytime soon?Tens of thousands of low-income workers lost their jobs Thursday as a stimulus-subsidized employment program came to an end.
About a quarter of a million people in 37 states were placed in short-term jobs thanks to a $5 billion boost to the Temporary Assistance for Needy Families program, according to the Center on Budget and Policy Priorities. States used about $1 billion to provide subsidized employment, with the remaining funds going to cash grants, food programs, housing assistance and other aid.....
Tens of thousands lose stimulus-subsidized jobs - Yahoo! Finance
"Claims that there has been a huge jump in structural unemployment — that is, unemployment that can’t be cured by increasing aggregate demand — are playing a large role in the argument that we should basically do nothing in the face of a terrible economy.
"No need for the Fed to do more; no need for more fiscal stimulus — hey, it’s all about defective labor markets, and we should work on structural reform, one of these days. And don’t expect improvement for years to come.
"Structural unemployment is invoked by Fed presidents who want to raise rates, not cut them, by economists who want austerity now now now, and in general by almost everyone in the pain caucus."
Who Will Speak for the Rich?