More good economic news for Kentucky. The unemployment rate in the state dropped again in February, to 8.7%.
Promising new data shows Kentucky economy growing... with more growth on the way.
Whenever I mention to Louisville residents that I only recently moved here, the conversation that follows is identical.
Kentucky's employment picture is getting better but still has a long way to go.
When the Paul family, Ron Paul and son Rand Paul, blame the Federal Reserve and its cheap money policy during the Bush years for creating the housing bubble and the resulting financial collapse, they are only telling a fraction of truth. The bigger problem was the loophole Phil Gramm wrote into the 2000 Federal Budget that made it possible for banks to lend at ratios that were guaranteed to end in disaster.
A summary of local news for November 18, 2011
Mitch McConnell and his fellow Republicans agrily charge that government does not create jobs. Only the private sector creates jobs. This is ridiculous. Governments provide real and valuable services to people who pay for them with real and valuable dollars. And real and valuable people do the work... until those governments get starved, the workers all get laid off, and the services stop being provided.
Mitch McConnell's cynical and callous attitude toward the unemployed stems from more than his single-minded focus on bringing down the duly elected president of the United States of America. Those segments of society hardest hit by high unemployment didn't vote for Republicans even before they were unemployed.
Mitch McConnell talks about the 1.5 million jobs lost since President Obama's inauguration and he shamelessly says the stimulus didn't work. What he doesn't tell you are that more Americans are working than when Obama took office or that without the stimulus, unemployment would be over 11% instead of stubbornly hovering about 9.1%.
It is time to stop pussyfooting around and call it like it is. Mitch McConnell and his fellow GOP leaders have become domestic terrorists plain and simple.
Local news for Aug. 23, 2011
The worst thing about the collapsing stock market is that stock prices are leading indicators of economic performance. Employment is a lagging indicator. That means we're likely in for more trouble, and lots of it.
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