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Forbes: America's #1 Problem is Jobs, Not Debt

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Forbes: America's #1 Problem is Jobs, Not Debt

Post by DesperateInRI on Tue Nov 27, 2012 2:55 pm

So why is creating jobs the most important issue our country faces today? As Bill Gross, founder of investment management firm PIMCO notes, “Washington hassles over debt ceilings instead of job creation in the mistaken belief that a balanced budget will produce a balanced economy. It will not.” Gross’ argument is that our rising debt levels are merely a symptom of a larger problem—lack of consumption and investment, which is driven in large part by America losing jobs from globalization and automation. Sure, the unemployment rate has ticked down from 10% in 2009 to under 8% today, but this masks our real jobs problem. Of the over 13 million people who were unemployed at the end of August, 40% were without a job for over six months according to the Bureau of Labor Statistics, and 29% were without a job for more than a year, near the all-time high. Statistics show that regardless of education level, the longer someone is unemployed for, the tougher it is for them to find a job and when they do, it will likely be for a lower salary than their previous job. In fact, median household incomes today stand at 1996 levels.


“Everyone's moving on without me, into a world I don't understand.”

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Re: Forbes: America's #1 Problem is Jobs, Not Debt

Post by elvis44102 on Tue Nov 27, 2012 8:08 pm

foreign countries are STILL buying US debt, and here is something else never mentioned...
they are doing so while taking a loss, that is the US backed bonds are still sought after, even though when set to mature after interest and adjusted for inflation they are worth less than face value..

i have got to laugh when right-wing boobs, start talking as if nobody will buy them...


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Re: Forbes: America's #1 Problem is Jobs, Not Debt

Post by pamwilson on Tue Nov 04, 2014 3:56 am

Thank you for sharing this. I would have to agree with you. We have to admit that having a job plays an important role in our day-to-day life. At the same time, it has been reported that the rate of unemployed are growing which is sad. At the same time, it has also been reported that little by little, there's also an increase in the number of job offers. According to a private study by the payroll services business ADP, American businesses added 176,000 new jobs to the economy in June. That is a welcome-though-moderate boost from the 136,000 reported in the previous month. Source for this article: get further information in


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Re: Forbes: America's #1 Problem is Jobs, Not Debt

Post by jmainframe on Sat Nov 15, 2014 10:50 pm

We need real jobs, jobs that pay a living wage. Not these low-paying, parttime jobs that make up the bulk of the jobs created in this jobless so called recovery.

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Re: Forbes: America's #1 Problem is Jobs, Not Debt

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