Thursday, June 24, 2010

MEXICAN SUPREMACY - No Legal Need Apply Here!

CALIFORNIA PUTS OUT $20 BILLION IN SOCIAL SERVICES TO ILLEGALS, AND ONE BILLION JUST TO HOUSE MEXICAN CRIMINALS IN STATE PRISONS.

LOS ANGELES PUTS OUT $600 MILLION PER YEAR IN WELFARE TO ILLEGALS.

AND THE STATE IS INFESTED WITH MEXICAN GANGS.

YET HISPANDERING OBAMA, BOXER, FEINSTEIN, LOFGREN, WAXMAN AND THE MEXICAN FASCIST Reps. BECERRA, BACA AND THE SANCHEZ SISTERS, CONTINUE TO PUSH FOR EXPANDED MEX WELFARE AND SUPREMACY


UC business prof Tyson gives grim jobs outlook
Carolyn Lochhead, Chronicle Washington Bureau

Thursday, June 24, 2010

(06-24) 04:00 PDT Washington - -- UC Berkeley business school professor Laura Tyson, a top economic official in the Clinton administration who is on the short list to become President Obama's budget czar, outlined a grim jobs outlook Wednesday that showed high unemployment continuing through next year.

Deep cutbacks by state governments such as California have all but obliterated the effect of the nearly $800 billion federal stimulus enacted last year, she said at a luncheon sponsored by the center-left New America Foundation.

Tyson said the current "jobs gap" between the number of jobs the economy is producing and full employment is about 11 million. Even if job growth surged to 350,000 a month, it would take four years to get the unemployment rate to where it was before the recession began in December 2007, she said.

If job growth is at a more modest 200,000 a month, it would take 11 years.

"When you look at the forecasts, you've got to go to 2015 before unemployment falls back to the 5 percent to 6 percent range" where it was before the recession began, Tyson said. The slowdown in Europe, a key destination for U.S. exports, makes things worse, she added.

Administration officials have indicated that Tyson is under close consideration to replace Office of Management and Budget Director Peter Orsag, who announced his departure Monday.

Tyson acknowledged Wednesday that public alarm about growing U.S. debt is well-founded but nonetheless advocates a long-term commitment to infrastructure spending - including education and scientific research in addition to transportation - as a way to produce jobs and boost U.S. competitiveness.

She said there is agreement in both parties and among business and labor that the nation's worn-out infrastructure must be rebuilt, especially in light of China's modernization.

But the word "stimulus" has become political poison on Capitol Hill, even among Democrats, and fear of deficits now trumps unemployment. That leaves the administration holding few policy levers that could goose job growth.

Tyson, who will turn 63 on Monday, serves on Obama's Economic Recovery Advisory Board chaired by former Federal Reserve Board Chairman Paul Volcker. She was an architect of former President Bill Clinton's economic policy during the 1990s when the economy boomed and the federal budget went into surplus, holds sterling deficit credentials but has been a longtime advocate of stimulus spending.

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