The Labor Department announced that the economy lost 533,000 jobs in November. That brings the total job loss for the first 11 months of 2008 to 1.9 million. The unemployment rate increased to 6.7%. The number of unemployed workers increased 2.7 million since December 2007. Currently there are 10.2 million Americans unemployed.
About the same time President Bush acknowledged the fact that we are in a recession, the second one to take place on his watch. A new report said the recession actually started in December 2007. Just a few months ago both Bush and McCain said the fundamentals of the economy were sound.
The job losses are a blow to each individual who has a family and other responsibilities to take care of. Its a personal loss with repercussions. There is a real face behind every job loss and the greed and policies that put our nation and the people in this economic mess has to be reversed.
The November job losses were the highest in 34 years, since December of 1974. It is note worthy, that occurred doing the republican administration of Nixon-Ford. President Bush and the Reagan-Bush administrations trickle down economics ideology has been in place 20 of the last 28 years and has been an economic failure. Not only have they been the party of record deficits and debt creation, they have been the party most responsible for letting corporate America do as they wish with no checks and balances.
Reagan, Bush 41 and Bush 43 have bankrupted the federal treasury at a time when the country and its people most need a treasury in the black to take care of the cost that is needed to revive the economy. Don't be surprised if you see the republicans in congress and the neocon journalists call for cutting back Social Security and Medicare and other needed programs that truly help the people. It is going to happen as sure as the sun comes up tomorrow. That is the real reason behind the Republicans ideology.
