Long-Term unemployment highest since WWII

Veritas

1 Lord, 1 Faith, 1 Baptism
Aug 7, 2003
17,038
2,806
Pacific NW USA
Visit site
✟109,662.00
Faith
Non-Denom
Marital Status
Private
Politics
US-Libertarian
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?
 
Upvote 0

cow451

Standing with Ukraine.
Supporter
May 29, 2012
41,108
24,128
Hot and Humid
✟1,120,276.00
Country
United States
Faith
Non-Denom
Marital Status
Married
Politics
US-Others
Don't we still blame Bush for the horrid economy? Obama has only been in office for four years.

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.
 
Upvote 0

I Eat Pie

Well-Known Member
Sep 22, 2012
3,205
94
City of Angels.
✟4,228.00
Faith
Oriental Orthodox
Marital Status
Single
Politics
CA-Conservatives
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.
 
Upvote 0
This site stays free and accessible to all because of donations from people like you.
Consider making a one-time or monthly donation. We appreciate your support!
- Dan Doughty and Team Christian Forums

DaisyDay

I Did Nothing Wrong!! ~~Team Deep State
Jan 7, 2003
37,942
17,417
Finger Lakes
✟7,428.00
Country
United States
Faith
Unitarian
Marital Status
Married
Politics
US-Others
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).
 
Upvote 0

Vylo

Stick with the King!
Aug 3, 2003
24,732
7,790
43
New Jersey
✟203,465.00
Faith
Atheist
Marital Status
Private
Politics
US-Others
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.
 
Upvote 0