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Job crisis
- 1. Deficit Crisis or Job Crisis?
- 5. Focus on the Deficit
- 7. Debt milestones – born into debt USA born (Jan 1, 1791) $75,463,476 Lowest ever (Jan 1, 1835) $33,733 Pre-Reagan (Oct 30, 1980) $907,701,000,000 FY 2011 (currently) $15,476,000,000,000
- 8. Pre-Reagan $1.0T Reagan $1.9T Bush II $6.1T Obama $2.4T Who holds the debt When the debt was accumulated
- 13. Pre-Reagan $1.0T Reagan $1.9T Bush II $6.1T Net debt = $8.1T Obama $2.4T
- 14. 2Q 2011= 95% 2Q 2011 = 57% % of GDP
- 22. Actual corporate taxes paid as % of GDP by OECD countries
- 24. Is there a deficit crisis?
- 25. The jobs crisis
- 27. WSJ: Untangling the Long-Term-Unemployment Crisis
- 29. What are the costs of unemployment?
- 30. Okun’s Law: 1% ↑ in UR 2% ↓ in GDP
- 33. Why are there jobs? Key concept is “aggregate demand” [AD] Think of “AD” as “GDP ” This means jobs
- 34. Why recessions? Because “leakages” occur in the spending stream If not, workers are laid off
- 36. What if markets don’t adjust? Savings
- 37. Why recessions? Because “leakages” occur in the spending stream Tx Government spending (G)
- 40. Central paradox Why has the deficit debate taken precedence in the midst of massive, destructive unemployment?
- 44. What’s to be done? The desperate need for deeper changes
Hinweis der Redaktion
- http://www.nytimes.com/2011/09/10/business/economy/in-the-real-world-will-the-jobs-plan-make-a-difference.html?scp=3&sq=september%2010,%202011&st=cse
- http://www.nytimes.com/2011/07/28/us/politics/28default.html?scp=1&sq=As 11th hour nears&st=cs
- http://www.usgovernmentspending.com/federal_debt_chart.html
- http://www.nytimes.com/2011/07/28/us/politics/28default.html?scp=1&sq=As 11th hour nears&st=cs
- http://nationalpriorities.org/en/resources/federal-budget-101/budget-briefs/federal-deficit-surplus-and-national-debt/
- http://www.cbo.gov/ftpdocs/119xx/doc11999/12-14-FederalDebt_Summary.pdf
- http://www.cbo.gov/ftpdocs/119xx/doc11999/12-14-FederalDebt_Summary.pdf
- http://www.cbpp.org/files/2-23-10tax.pdf
- http://www.ctj.org/pdf/taxday2011.pdf
- http://www.ctj.org/pdf/taxday2011.pdf
- http://economix.blogs.nytimes.com/2011/05/31/are-taxes-in-the-u-s-high-or-low/ By Bruce Barlett, source is OECD
- www.oecd.org/document/60/0,3746,en_2649_34533_1942460_1_1_1_1,00.html#A_RevenueStatistics
- http://www.cbpp.org/research/index.cfm?fa=topic&id=29
- http://www.stateofworkingamerica.org/charts/view/4
- http://si.wsj.net/public/resources/images/NA-BN793A_CAPIT_G_20111019171203.jpg
- http://www.stateofworkingamerica.org/files/images/orig/jobs_unemployment_total%20all%20years%20swa%20live_2.png
- Add: Frictional (people voluntarily between jobs and looking for work); discouraged (a good category to add)
- Save this for the end.
- Save this for the end.
- Notes: cut backs in education, technology, infrastructure, health care, attacks on SSI, weak support for unions
- Specific names in The Nation article, p.1
- Link to