While Republicans are reportedly soul searching in an attempt to find out what could have possibly gone wrong after offering up one of the weakest candidates possible, then tossed him under the bus after they were defeated, perhaps learning from past mistakes would be the way to go. For example, Republicans do not want to compromise on the ‘fiscal cliff’ negotiations to finally cave on tax cuts which were supposed to have already ended. Instead they’re saying that strict austerity measures are the only way to correct our economy.
But that’s not working anywhere else, but hey, it’s somehow going to work here, right?
The euro-area economy was pushed into a recession for the second time in four years as trade slowed and government spending declined.
Gross domestic product in the 17-nation currency bloc slipped 0.1 percent in the third quarter from the previous three months, when it fell 0.2 percent, the European Union’s statistics office in Luxembourg said today, confirming an initial estimate published on Nov. 15.
Think Progress reports
Eurozone unemployment reached 26 percent in September. The youth unemployment rate has topped 50 percent and resulted in a “lost generation” for the continent’s young adults. Still, the pursuit of austerity continues.
Meanwhile, we’re hearing the all too typical rhetoric from Republicans that cuts are the only way to correct a flailing economy. Despite all of the evidence to the contrary, Republicans will ignore it and carry on in lockstep. This somehow reminds me of Climate Change deniers, but that’s another story. Sort of. Trickle down economics has not worked. Austerity measures are not working, yet they are pushing it with whatever energy they can muster from the corpse of their party.
But, the economy is moving in a positive direction without the ’painful cuts’ the’re touting. Of course cutting some programs is a given, but not to the great extent they are chomping at the bit to accomplish.
BLS reports a gain of 118,000 private sector jobs; Supestorm Sandy cost 86,000 estimated job losses. Do the math.
Image: Left Foot Forward.