Local governments shed 76,000 jobs.

[Kurt_and_Hunter]

In the new jobs report, Local governments shed 76,000 jobs last month.

http://www.salon.com/news/unemployment/index.html?story=/tech/htww/2010/10/08/september_labor_report


The great unknown fact of the last two years is that total government spending is down.

And total debt in the United States is down, despite the increase in federal borrowing.


Our "runaway" federal spending is not runaway, it is meager. It does not even pick up all of the slack from what local governments are cutting.

At this point in time the federal deficit is 100% of the difference between stagnation and return to recession.

Calls today for "austerity" are direct calls to sink the economy.

Most politically popular idea in America? Cutting the federal budget.

Not since we invaded Iraq has this country been so wrong about anything.

[SarahB]

1. Yay! The fact that we lost more jobs means we can refute a Republican talking point!

Yippee!