190,000 jobs lost last month, unemployment rate now 10.2%. The real story is the U-6 number hitting 17.5% however, and that means there are counties out there where the real unemployment figure is closing in on 30% or more.
Prolonged numbers that bad are simply going to drive local governments out of business. They're not going to be able to cope without raising taxes, period.
they can raise taxes all they want - i still cannot pay ANY taxes as i do not have a JOB.
ReplyDeleteand the death spiral to the bottom continues ....