Home > Money > Careers > Why the May Jobs Report is Better—and Worse—Than it Looks

Why the May Jobs Report is Better—and Worse—Than it Looks

Reader Comments
Back to article

Let's look at some facts folks, take a deep breath and thin for a minute.
If there is "free reign" of corporations in the U.S. Then why are so many companies going bankrupt? The richest 10% of Americans pay over 80% of taxes in the U.S. The only sector of the US economy that is growing is the government itself as of June of 2010.
Reagan has been out of office since 1989. It is now 2010. Reagan has been out of power for 21 years so it is unfair to blame the current financial crises on former President Reagan who left office 21 years ago and is now deceased. Since 1989 we have had 10 years of Democratic presidents(Obama 2 yrs/Clinton 8) as well as 12 years of Republican presidents (Bush Sr. 4 yrs/ Bush Jr. 8 years) Both political parties are to blame.
The real root of the problem is the Federal Reserve system, a fiat money supply and US monetary policy in general. This is the immediate culprit for inflation, economic booms/busts, and high unemployment as a result of those policies.
The second reason in my opinion why the US is so messed up is "we the people" ourselves. Most Americans cannot do basic mathematical calculations. Most Americans cannot read or write properly as evidenced by so many online blogs that I read. Most americans play the political "blame game", which is hate Clinton, hate Bush, hate Obama, hate Reagan etc. Think about it. What does America produce today that is the best in the world? The only thing I can think of is that we are the fattest and largest consumers and spenders in the world.

Brian of NJ 10:16AM June 17, 2010

You should get it right and say the founders did not want a Central bank. ie(Federal Reserve) to control the money supply. Industry is a good thing unless you are a tree hugger who wants to apologize for the industrial revolution. With 40 million receiving a welfare sponsored check and over 37 million people working in a job which is paid for from the private sector coupled with the fact that the "funds" for SSI were raided years ago and are an unfunded liability with the biggest boomer generation retiring. That is nearly one third of the US population not including kids who dont contribute yet. You can understand why the debt to GDP is so close to 100%. All told, the numbers for our total public debt is around 113 trillion and not the 13 trillion reported by the news. That amounts to over 331 thousand dollars of debt for every taxpayer. Only six countries have the issue near those numbers and greater than ours and they are P.I.I.G.S. with G.B. at the top with a number near 430% of GDP.
So don't be stupid with the "rich aren't paying their fair share" comment. Our money is becoming worthless because of the banking elite who are printing us out of existence with notes of debt and a congress that wont abide by the constitution. Oh and lets not forget the idiot in chief who wants us to be more like an Oligarchy. Get your facts straight maxx before you shoot your mouth off. It makes you like like you will be nedding a plexi-glass belly button to give you a porthole to see out of with your head so far up your........

Jeff of WI 2:14PM June 07, 2010

Ah come on...keep blaming it on the rich and they aren't bearing the burden. It's getting old along with the Reagan lines. The "facts" are that the top 1% of wage earners are paying 40% of federal income taxes and the top 5% of wage earners are already paying over 80%. More than 40% of the working population doesn't even pay federal income tax anymore.
By the way, it's a fact that Reagan cut taxes and almost doubled the federal income to the treasury.
Let's keep those facts straight

s d of IL 12:39PM June 07, 2010

Get your facts straight please. Making up statistics or passing on made up statistics like "For every Gov't Job it takes 10 or more middle class tax payers to fund federal income." just makes one sound stupid. It is so patently false and nonsensical.
If you do not like Obama fine, but at least man-up to that. BTW, when people are hired by the government THEY ALSO pay taxes.
The problem w/the economy is simple, the rich are not shouldering their share, in fact they are legally shirking their share by bribing politicians to write the laws in their favor.
Back to the founders' ideas I say, they hated and feared the "aristocracy of corporations and inherited wealth". They knew that is what corrupts countries and after 30 years of Reagan-style (second worst president of the 20th century IMO) we in the U.S. are now again reaping the B.S. of 'free enterprise' which is really 'free reign of corporations'. Tax and regulate corporations like crazy since they are not people and have shown by their actions that they have no responsibility to anything, but a bottom line.

maxx of OR 12:01AM June 07, 2010

Congress wasn’t worried about the deficit when that big insurance company and Wall Street execs were giving themselves bonuses with taxpayer money!!! Next election – let Congress feel the sting of the unemployment lines!!! – How many years have you paid taxes? 30? 40? Your government bails out bankers and Wallstreet execs using your tax dollars – but unemployment is allowed to expire? What happened to "by the people" or "for the people"? Or are the big campaign contributors the only "people" who count to congress? They are playing games AGAIN FOR THE THIRD TIME while you are wondering how to feed your kids? Figure it out! Malfeasance – Failure of a public official to perform their duties!!! Next Election MAKE YOURSELF MATTER BY VOTING!!! 10% unemployment carries 10% of the vote! Use it!! Fire them all next election or recall every Congress member NOW for Malfeasance – Failure of a public official to perform their duties!!! Next Election - Lets get people elected who actually represent tall the People- this current congress represents only special interest groups!

alex of NJ 8:31PM June 05, 2010

Wow, that's an awful lot of government jobs that tax payers will have to fund. This sounds like a disaster. For every Gov't Job it takes 10 or more middle class tax payers to fund federal income. So, that means we really needed to gain over 4 MILLION jobs to pay for the 400 Thousand"ish" gov't jobs. Sounds like good ole Obama has got nothing to brag about here.

Ralph of NY 5:36PM June 05, 2010

You have been dooped by the Gov't one more time. Why would anyone think they are going to extend benefits. This is the same Senate that left on vacation in April and now again in May/June, the very people who say they care about you. Well flash folks they don't unless there is some political gain. If you were Wall St or a Bank or GM or Chrysler or AIG you might have a pretty good chance. But you are not. When my country called on me back in 1965 I did not hesitate to respond (US NAVY) but when I called on my country to help me they turn their back on me and so many of you. You have to be kidding if you think they have your best interest at heart. When there are Riots in the streets of America they will act. Not before. And I hope it does not come to that but given the situation what other choice do people have. From tax paying middle class to homeless. And this is the new face of America. How is that working out for us. Please keep in mind one thing and one thing only. November is coming folks. Its the last voice you have, use it.

Ray T of CA 5:13PM June 05, 2010

The Government basically tried to lie to the people and do what they do best, make themselves look good.
All in all Washington is cooking the books. Doesn't this sound a lot like World Comm and Enron? Basically if you look at employment as the product this would be like a company borrowing money to buy it's own product to make the profit reports look good. I believe people go to jail for that...
Support the 31,000+ that are speaking out to Washington demanding Tier 5 for the people. http://www.change.org/petitions/view/the_99ers_need_a_tier_v_added_to_unemployment_benefits

Tim of OR 11:52AM June 05, 2010

The Government basically tried to lie to the people and do what they do best, make themselves look good.
All in all Washington is cooking the books. Doesn't this sound a lot like World Comm and Enron? Basically if you look at employment as the product this would be like a company borrowing money to buy it's own product to make the profit reports look good. I believe people go to jail for that...
Support the 31,000+ that are speaking out to Washington demanding Tier 5 for the people. http://www.change.org/petitions/view/the_99ers_need_a_tier_v_added_to_unemployment_benefits

Tim of OR 11:52AM June 05, 2010

I have a ready project,which can create about 9,5 million new jobs,within a very short amount of time ! (My project has over 800 pages ).
NOBODY PAYS ATTENTION !!
Since March 25,2010 , I tried my best to contact President Obama and his Administration by sending e-mails, certified letters,and fax(s).
NOBODY PAYS ATTENTION !!
What else can I do ??!!
Job creation is necessary for 15 millions of unemployed American people,job creation is vital for the US economy !!
I have a ready project !! NOBODY PAYS ATTENTION !!
I need the US Government's help to realize it !!
Kalman Menyhart , 4444 Hazeltine Ave. #138, Sherman Oaks, CA 91423 (312-375 2649 cell.)

Kalman Menyhart of CA 2:55PM June 04, 2010