Local Paper front Page—the S.C. Economy along the I-95 corridor: From bad to worse

Posted by Kendall Harmon

Every seat in the Clarendon County unemployment office is taken on a typical weekday afternoon, and many of these people won't find new jobs any time soon. That's just the way it is here along South Carolina's poor and rural Interstate 95 corridor.

So far this year, only one job opens for every three people sitting in the seats at the satellite office where folks travel for miles to file unemployment claims and apply for new work.

Read it all.

Filed under: * Economics, PoliticsEconomyCorporations/Corporate LifeLabor/Labor Unions/Labor Market* South Carolina

Posted August 30, 2010 at 8:20 am [Printer Friendly] [Print w/ comments]

1. Br. Michael wrote:

Brian M. Riedl of the Heritage Foundation has stripped out these and other assumptions [which Congress forced the CBO to use] to come up with a more realistic look at the government’s spending and debt. Based on realistic assumptions:

  * By 2020, half of all income tax revenues will go toward paying interest on a $23 trillion national debt.
  * The national debt held by the public will surpass 100 percent of gross domestic product (GDP) by 2020.
  * Federal spending per household, which has risen from $25,000 to nearly $30,000 during the past three years, will top $38,000 by 2020. The national debt per household, which was $52,000 before the recession, will approach $150,000 by 2020.
  * Over eight years under President Obama, budget deficits will total $10 trillion. That is triple the $3.3 trillion in deficits accumulated by President Bush. The public debt — $7.5 trillion at the end of 2009 — will triple to $23.5 trillion by 2020.
  * The expected additional costs of the Social Security, Medicare, and Medicaid programs will push the federal public debt to more than 300 percent of GDP by 2050 and above 800 percent of GDP by 2080.


August 30, 12:50 pm | [comment link]
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