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Long-Term unemployment highest since WWII

Discussion in 'American Politics' started by Veritas, Jan 15, 2013.

  1. Veritas

    Veritas 1 Lord, 1 Faith, 1 Baptism

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  2. Veritas

    Veritas 1 Lord, 1 Faith, 1 Baptism

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    And as a result:

    401(k) breaches undermining retirement security for millions - The Washington Post

    A large and growing share of American workers are tapping their retirement savings accounts for non-retirement needs, raising broad questions about the effectiveness of one of the most important savings vehicles for old age.
    More than one in four American workers with 401(k) and other retirement savings accounts use them to pay current expenses, new data show. The withdrawals, cash-outs and loans drain nearly a quarter of the $293 billion that workers and employers deposit into the accounts each year, undermining already shaky retirement security for millions of Americans.

    It ocurrs to me that this could be part of O's plan. If people end up with nothing in retirement, then the gov will have to be their savior. Will America eventually become a third world country?
     
  3. cow451

    cow451 CEO, Acme Drone Company

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  4. cow451

    cow451 CEO, Acme Drone Company

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  5. questftbest

    questftbest Senior Member

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    Don't we still blame Bush for the horrid economy? Obama has only been in office for four years.
     
  6. cow451

    cow451 CEO, Acme Drone Company

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    The economy, though not what we want it to be, is much better overall than in 2008. The President shouldn't get all the credit nor all the blame. No President controls the climate or every event in other countries.
     
  7. Jeffwhosoever

    Jeffwhosoever Ministry Liaison Staff Member Community Coordinator Supporter Staff on LOA CF Ambassador

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  8. stamperben

    stamperben It's an old family tradition

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    Insightful commentary...
     
  9. Jeffwhosoever

    Jeffwhosoever Ministry Liaison Staff Member Community Coordinator Supporter Staff on LOA CF Ambassador

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    Yours too!
     
  10. I Eat Pie

    I Eat Pie New Member

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    Didn't the economy get a lot better after WW2? Hold on to your hats ladies and gentlemen. Couple more mid eastern countries, and you're all gonna get a huge tax return.

    Btw, since when did the president control the economy? 0_o.
     
  11. DaisyDay

    DaisyDay blind squirrel

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    We've had the worst recession since before WWII - which started during Bush's administration and ended during Obama's. Even so, I don't think that Bush actually caused the recession, either. He began proper measures to forestall global economic collapse which Obama continued then expanded on.

    Congress has fought Obama's job bills.

    What Bush can be rightly blamed for are two unfunded major wars and contracting out what the military used to do for far less expense while, at the same time, decreasing revenues by cutting taxes (mainly for the rich) and "refunding" the social security surplus to the rich (who paid proportionately way less than the poorest contributors).
     
  12. Vylo

    Vylo Stick with the King!

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    So long as the energy boom doesn't get borked we will see a great resurgence in the economy, most likely starting ~end of 2014. It is already helping, but the gears all have to get moving.

    Economists and politicians saw this coming, and it is why 2012 was such a huge political year. With whoever got it pretty much destined to preside over the start of a massive recovery, the stakes were very high.
     
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