Long-Term Unemployment Proves Economic Austerity Folly

The Bureau of Labor Statistics showed little change in long-term unemployment in March, with 4.6 million Americans being tossed away like garbage. These are people who want a job but cannot find one, and their elected representatives are doing nothing about it. Republicans, particularly congressional Republicans, have shown very little concern for the unemployed. They reject any attempts to stimulate the economy, and when the long-term unemployed try to get by on unemployment benefits, Republicans try to snatch that from them as well.

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Fact of the Day: In 2012, Corporate Profits Hit Record 11.1 Percent Of GDP

Corporate Profits - Percent of GDP - Quarter 3, 2012It might only be four years and change since the worst economic downturn since the Great Depression, but you wouldn’t know it if you looked at corporate profits of late. In the 3rd quarter of 2012, corporate profits hit an all-time high of 11.1% of Gross Domestic Product (GDP). This is at the same time that the unemployment rate is still nearly 8%, and wages are stagnant or worse.

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MHP: Corporate Welfare Queens, And The America They Hold Hostage

I was glad to see today’s Melissa Harris-Perry (MHP) show focus on the real takers in society, big corporations and their obscenely rich executives. As Americans gather with family today with plates overflowing (as Americans do on just about any holiday), we should remember that tens of millions of Americans rely on food stamps for their next meal.

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