http://www.truth-out.org/jobs-crisis-and-new-new-deal-america/1321046261The crisis is much worse than most of us think. According to the US Department of Labor, the underemployment rate is 16.5 percent, if you count part-time workers who want full-time jobs and discouraged workers who have simply stopped looking. The Economic Policy Institute (EPI) reports that the number of long-term unemployed, meaning those unemployed for more than six months, hovers at a postwar record level of 45 percent. All these figures are much higher for black and Latino workers.
No one is insulated. Workers at every educational level have seen their unemployment rates double since 2007 - high school graduates, college graduates and even those with graduate degrees. The severity of the crisis has overturned conventional wisdom that higher education is a cure for joblessness. The unemployed do not need more education - they need work.
Republicans oppose taxing the rich, just as they did in the 1930s. It will take popular mobilization by labor, faith, civil rights, women's and youth organizations to overcome such resistance - just as it did then. Occupy Wall Street may be the beginning of a movement for a new New Deal. Collective action worked in the 1930s and it could work again now.
The difference in the Roosevelt Administration vs. the Obama administration is simple. Roosevelt, while not overwhelming loved at all by Congress, did have the sense to know, that only working against him would hurt the Country far more. They basically were human beings. This Congress has set a course for this President to be a one term President at ANY cost. We shall see now that Europe is looking dimmer than hoped and the economy is in chug mode, not even slow mode, what happens in the next month and the signals they start receiving from Wall Street, the Banks and all the companies that feel they own them. According to Bloomberg, they are not happy with the inaction plan.
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