OBAMA'S BUDDIES, THE UNION BOSSES, DETERMINED TO OVERSEE FAILURE

The Great Deconstruction of Big Government and Public Unions
By Robert Cristiano
CAPoliticalReview.com

The economic downturn of 2008 – 2009 has been labeled “The Great Recession” for good reason. Eight million Americans lost their jobs compared to six million in the last four recessions combined dating back to 1980. The jobless recovery may trigger a double dip recession in 2011. The Federal Reserve Bank of New York estimates that homeowners’ equity has fallen by over 50 percent, or about six trillion dollars, during this period. Some 22 percent of all mortgages are now under water. And, economists predict that between eight and 13 million homes will have been foreclosed before the crisis ends.

The eight million jobs lost during the Great Recession were primarily in the private sector. While the private sector was ravaged, the public sector was protected and bolstered by the $800 billion Stimulus Bill (3) in 2008 that sent more than $200 billion to the states to keep public sector employees employed. The Stimulus money that California received allowed California to avoid the job cuts demanded by a state budget more that $20 billion out of whack.

Read the Full Story