The Labor Department announced the economy lost 159,000 jobs in September, the ninth straight month of job losses and the highest since 2003. So far this year, the economy has lost 760,000 jobs and the department says more will continue.
Job creation on a steady basis has never been a priority for Republican administrations and certainly not the administration of George W. Bush. The reason is because Republicans have a tax policy and not an economic policy for a sustained economy. Job creation in the first term of this President was the worst since Herbert Hoover.
The norm accepted to define a recession is two quarters in a row of negative growth. But serious people know job creation is in recession, the housing market is in recession, the financial markets are in recession, and the economy is in recession for the middle class.
Our economy is locked down and drowning in federal deficits and debt at record levels. The Republicans want to bankrupt our country so the neocons can kill social security, medicare, and other needed programs they hate. One can expect the meltdowns that always happen on their watch. The Republicans have run the country 20 out of the last 28 years and their fiscal and economic record is pitiful. They say government is the problem, but it is their kind of government that is the problem.
Our country and its people are in for hard times in the near future because of their reckless policies. The problems can not be reversed quickly and it's not going to be easy to dig the country out of the hole that has been dug. On November 4th, the American people need to be involved in our political system and hold those elected officials responsible for their reckless action.
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