I am about to open a can of worms and the content has me concerned. I am not about to offer an opinion, simply because the problem is too complex, but I think we need some input. Before I do, I want to talk about the U-6 numbers of true unemployment, already painted pink, versus the fashionable U-3, the official unemployment figures that get so much attention. Under U-3 the current unemployment is at a mind-boggling 7.6%. But even though it is frequently cited, that number is wrong. The true unemployment numbers, known as U-6″ for its Bureau of Labor Statistics classification, is 13.9 %, up from 13.5% in December. While U-3 counts those that receive unemployment benefits only, U-6 counts those that have exhausted their benefit period, are unemployed, or are on part time work but are looking for fulltime employment. Frankly, I am not sure how the Bureau of Labor Statistics determines who is or is not looking. I have the sneaking suspicion that this, too, is a white wash and the number is much higher. You may want to look into a Wallstreet Journal article, dated February 6, 2009 entitled: The Other Unemployment Rate. --- It is my understanding that the stimulus bill currently under never ending discussions contains a Buy American clause. I bet my bottom dollar that you, much like I did, think FINALLY. The can of worms, I was talking about a second ago, is that this would violate trade agreements the United States entered into. What concerns me is that if we actively require anyone to buy American only, that would I hope you are still with me because now it becomes critical that would trigger trade retaliations, as threatened by the European Union and Canada. As I said before, I have not made up my mind and bring this up only to trigger a discussion.
--- Before I let you go, here is the national debt for the year of 2008, I think which shows that this number has been created in large part though not exclusively over the last 8 years. Google Perot Charts for more. Let me show it to you a little bit more dramatic. Let me give you a thought: There is no way we can pay off this debt while in an ailing economy. If we have ANY chance at all to get rid of the national debt, it would be with an economy that is healthy at which time we should carefully control spending. Just a thought ! Take care. I hope I didnt mess up your Sunday.
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