Public Worries about Unemployment and the Economy, but Media Prefers Deficit

[Donnachaidh]

http://www.allgov.com/Top_Stories/ViewNews/Public_Worries_about_Unemployment_and_the_Economy_but_Media_Prefers_Deficit_110519



The largest daily newspapers in the U.S. have placed greater emphasis on coverage of the federal budget deficit than the issue of unemployment, even though the American public is most concerned with jobs and the economy. The latest Gallup Poll showed that when asked about the nation’s most important problem, only 12% chose the deficit, while 57% named the economy, jobs or unemployment.

National Journal examined stories published over a two-year period (April 2009 to May 2011) by The New York Times, The Wall Street Journal, Los Angeles Times, USA Today and The Washington Post. It found references to unemployment declined since peaking at 154 in August 2010. As of last month, joblessness mentions were down to 63.

On the other hand, the deficit was brought up more than 260 times in December 2010, in response to the release of President Barack Obama’s deficit commission report. But mentions of the deficit have remained high in the succeeding months, much to the delight of House Republicans.

Over the course of newspapers downgrading coverage of unemployment, the jobless rate has shrunk, a little, by half a percentage point.

More at the link --

[DCBob]

1. Jobs issue is so 2010.. we are on to more exciting things like the debt ceiling..

and the 5/21 rapture.

[dkf]

2. I just explained to my hairdresser the dilemma we are in...revenues at 15% of GDP expenses at 25%

Our traditionally normal taxes at 20% of GDP. How much taxes you would need to increase to move from 15% to 25% of GDP. How we probably need to both increase taxes and cut spending.

After that she said she was depressed. She has work enough for herself so she is not worried about being unemployed. But the idea of increased taxes is tough as a self employed person.

I realized how much harder she has it than I do. She needs to pay her social security as employee and employer so two times what I pay. Then I get a little bit of matchng on my 401k where she has to contribute the whole thing. I felt bad that here I am thinking how sucky it is that I need to pay for so much of my retirement and here is my hairdresser who has to provide even more than I do.

[rfranklin]

3. which illustrates that wages are too low...

If the average wage was increased, tax revenues would immediately rise. Giving all the money to those who pay 15% on capital gains and no FICA will never solve anything.

[dkf]

5. Well she can't raise her average wage because she is self employed.

If she raises prices she runs the risk of customers coming less often or doing their own hair.

Its actually easy enough if I color my own hair but I keep coming because I find it relaxing and she does a good job.

[rfranklin]

6. She can raise her prices when everyone else gets a raise...

Once we get money flowing through the economy instead of flowing to the top things will be better.

[roguevalley]

4. the media is employed. what do they care?