Thursday, July 31, 2008

Unemployment Numbers Are Low But Those Now Working Part Time Soars

The number of workers cut to part time hours soars.
The number of Americans who have seen their full-time jobs chopped to part time because of weak business has swelled to more than 3.7 million — the largest figure since the government began tracking such data more than half a century ago.
This is the result of an economy built on a house of cards that has finally come crashing down. The middle class are surviving on credit that many are unable to pay back.
The loss of pay has become a primary source of pain for millions of American families, reinforcing the downturn gripping the economy. Paychecks are shrinking just as home prices plunge and gas prices soar, furthering the austerity across the nation.

"I either stop eating, or stop using anything I can," said Marvin L. Zinn, a clerk at a Walgreens drugstore in St. Joseph, Mich., who has seen his take-home pay drop to about $550 every two weeks from about $650, as his weekly hours have dropped to 37.5 from 44 in recent months.

Mr. Zinn has run up nearly $2,000 in credit card debt to buy food. He has put off dental work. He no longer attends church, he said, "because I can’t afford to drive."
If you think this can not happen to you, you are sadly mistaken. How did we get here? We got here by electing the most destructive administration in our history. They destroy everything i their path except of course for their cronies who have enjoyed unprecedented financial gain at your expense. Why is this next election even close? Do we all want a repeat of the Great Depression? I can tell you our economic fundamentals are the closest to depression era statistics since that awful period in our history.

We have a negative savings rate for the first time since the Depression. The most home foreclosures in our history and we are now the largest debtor nation on earth. We are also considered a pariah nation by billions all over the earth. This is the destruction that has been perpetuated by this criminals. Just remember John McCain voted over 90% of the time for Bush Administration policies that got us into this mess. Do you really think he will be any better? Wake Up America before it really is too late.

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