Les Leopold: Main Street Goes to War Against Itself as Job Crisis Persists

The February unemployment rate is 8.9 percent. The broader Bureau of Labor Statistics U6 jobless rate is 15.9 percent. The report shows a net increase of 192,000 jobs. However, we need 127,000 new jobs every month to keep up with population growth. At this rate it will take 11.2 years to get back to full employment.

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The New Congress and the Coming Class War

According to Newsweek's Jonathan Alter, the president recently told friends, "All I want for Christmas is an opposition I can negotiate with." Well, he had one, briefly, so long as he was willing to cave in to its demands to bust the budget with a massive gift of more than $130 billion in tax cuts to the wealthiest 2 percent of the country and the gutting of the estate tax. That cleared the decks for other "victories" and "compromises" and led to widespread insider approval of Obama's ability to "make the system work." Like 13-year-olds at the movies, pundits love "action," period, never mind its consequences.

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