Friday, April 01, 2011
The Real State of our Republic
Democracy should allow for all of us to participate in public debates and decision making. Our mixed Capitalist system should allow for all of us to succeed. Cornel West* on the real State of our Union--the reality behind,beyond the words--the majority of the people of the United States who are at best still living paycheck to pay check, if they have a job.
The March unemployment rate** as remained the roughly same as previous month(8.8% OR 13.5 million people)-- even as 216,000 jobs were added in March (192,000 jobs were added in Feb.)--an indication that the unemployment number is truly a number that is constructed using rose colored glasses. The number is constructed by figuring out the number on unemployment, and adding back the number who went off unemployment during that month (people using up their benefits as well as people who have gotten jobs). Most economists say the real figure of unemployed is reached by doubling the official percentage.
The number of personal bankruptcies is predicted to drop to 1.5 million, a very slight decrease from the 1.53 million filed in 2010 (actually this will be the first drop since 2006, if it does drop) according to the American Bankruptcy Institute and Fitch Ratings. 27% of personal bankruptcies are due to medical bills, even for those with health insurance. 40% suffered job loss. (Less than 10 9 % of the personal bankruptcy filings did not state medical bills, job loss, or foreclosure).
Inequality is alive and well in this liberal democracy, this republic of ours.
* Cornel West's interview:
http://english.aljazeera.net/programmes/rizkhan/2011/03/201132863311584728.html
** Ap 1 2011 Bureau of Labor Statistics http://www.bls.gov/news.release/pdf/empsit.pdf
The March unemployment rate** as remained the roughly same as previous month(8.8% OR 13.5 million people)-- even as 216,000 jobs were added in March (192,000 jobs were added in Feb.)--an indication that the unemployment number is truly a number that is constructed using rose colored glasses. The number is constructed by figuring out the number on unemployment, and adding back the number who went off unemployment during that month (people using up their benefits as well as people who have gotten jobs). Most economists say the real figure of unemployed is reached by doubling the official percentage.
The number of personal bankruptcies is predicted to drop to 1.5 million, a very slight decrease from the 1.53 million filed in 2010 (actually this will be the first drop since 2006, if it does drop) according to the American Bankruptcy Institute and Fitch Ratings. 27% of personal bankruptcies are due to medical bills, even for those with health insurance. 40% suffered job loss. (Less than 10 9 % of the personal bankruptcy filings did not state medical bills, job loss, or foreclosure).
Inequality is alive and well in this liberal democracy, this republic of ours.
* Cornel West's interview:
http://english.aljazeera.net/programmes/rizkhan/2011/03/201132863311584728.html
** Ap 1 2011 Bureau of Labor Statistics http://www.bls.gov/news.release/pdf/empsit.pdf
