Here is a startling interactive map, by county, of unemployment in the US as it entered the current recession. It’s based on Dept of Labor figures, starting in Jan 2007 and going through November 2009. It takes only a few seconds to watch.
“Sobering” doesn’t quite get the feeling across after watching it.
The only responses I can think of fall along the lines of OMG, Atlas Shrugged, and the lights are going out.
Once you have viewed this, go read this Reuters story (Reuters’ pulled it down after Obama whined to them, but it’s still up in several places on the web; this link is to Yahoo; others have it, too). It’s about Obama’s budget and how he will “save” a trillion dollars over the next ten years – all the while adding a trillion to the debt EACH year…. People actually VOTED for this guy????!!!!
Obama’s 2011 budget
Gone — Charity deduction. Goodbye, Red Cross, Salvation Army, Veteran’s charities, Farm Aid, Haiti Aid, etc., etc. Only the government gets to provide charity henceforth.
Reduced — Home Mortgage deduction. That’ll crater both home sales and the homes Boomers thought would pay their retirement. Reduce the Home Mortgage deduction and the value of ALL Homes immediately craters. Those in million-dollar homes will only be able to afford half-million-dollar homes, causing million-dollar homes to be worth only $500,000. Those in half-million-dollar homes will only be able to afford $100,000 homes. EVERYONE will be upside-down…. Those in $100,000 homes will be able to rent – in big-city mass apartment complexes – take-the-bus-to-work-get-outta-the-suburbs-use-mass-transit-kinda home. Which, of course, is exactly what the party of petty tyrants – Democrats – wants. Good idea when the home market is what dragged us down after Barney insisted on loaning money to deadbeats…
Gone — Teacher credit for classroom supplies.
Gone — Deduction for up to $4,000 of college tuition.
Gone — Individuals not itemizing could increase standard deduction by $1,000 for property taxes…Not anymore.
Gone — First $2,400 dollars of unemployment was tax-free… Not anymore.
Income taxes UP — Top tax bracket: UP to 39.6% from current 35%. Next tier UP to 36% from 33%. Next tier UP to 31% from 28%. Next tier UP to 28% from 25%. And the 10% bracket – eliminated.
Dividend taxes UP — Tax on dividends: UP to 39.6% from 15% – that’ll take billions out of the market.
Capital gains taxes UP — UP to 20% from 15% – more billions out of the market.
This Administration and Congress are destroying our economy.
Change you can believe in.