The Financial Times recently reported these dismal figures for private sector hiring: “Since the stimulus began, about 400,000 public sector jobs have been added (through May 2010) while 2.7 million private sector jobs were lost.” The National Federation of Independent Business has a study showing that small businesses in the United States lost jobs in twelve of the last fourteen months. What is equally disturbing in the NFIB survey is that its small business members have no plans to increase hiring in the foreseeable future. Considering that small businesses are responsible for the creation of a majority of new private sector jobs, this is particularly worrisome.
Tom Pauken
Government Debt Bubble Is the Next One to Burst
Greece is bankrupt. European Union nations are leading a bailout of that government in an attempt to prevent other financially troubled EU members such as Spain and Portugal from collapsing as well, which could bring down the entire European Union financial system.
Putting Texas Veterans Back to Work
A new study from the United States Department of Labor reports that the unemployment rate in 2009 for young returning veterans from Iraq and Afghanistan rose to 21.9%, far higher than the national unemployment rate for non-veterans in the same age group of 18 to 24. Many factors contribute to that higher jobless rate for our veterans of the Iraq and Afghan wars.
Growing Federal Debt Hurts Small Businesses
In late January, the U.S. Senate voted to raise the United States’ debt ceiling to $14.3 trillion, or $45,000 for every man, woman, and child living in America. Our massive federal deficit levels should send up warning flares to all who are interested in the short- and long-term health of our nation’s economy.
Which Model For The Nation, Texas or California?
These difficult economic times have inspired serious soul searching on the part of policy makers. In the quest for the right formula for economic prosperity, analysts have been increasingly drawn to a comparison between two of the largest American states: Texas and California. While these two states share much in common, their policies could not be more different. After thirty years of divergent views, the analysts agree: Texas has chosen the better path.