The Times Journal & Russell County News
Saturday, Apr. 19, 2014 — RUSSELL SPRINGS & JAMESTOWN, KENTUCKY — russellcounty.net
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All we need is more negative news, and in the name of politics
In July 23 Issue

We were reading World News and Reports a few days about our economy and what we can expect.  It certainly looks bleak and the future could be very cloudy.

Job losses over the past 6 months have exceeded anything experienced since World War II and the number of long-term unemployed is at an all-time high.

Stop and realize that in the month of June there were 467,000 jobs lost - in one month. This put the number of unemployed at 7.2 million.

More companies are asking employees to take unpaid leave. and these people don't count on the unemployment rolls.

Full-time workers are being downgraded to part-time as businesses slash labor costs to remain above water. Factories operate at only 65 percent of capacity.

These figures are noted in Rusell as we are seeing much the same on the local level.

Many unemployed workers looking for jobs once the recovery begins will discover that jobs as good as the ones they lost are almost impossible to find because more layoffs in this recession have been permanent and not temporary.

Instead of shrinking operations some companies have closed whole business units or made sweeping structural changes in the way they conduct their business.

 The report stated we could face a very low upswing in terms of the creation of new jobs, and we may be facing a much higher level of joblessness on an ongoing basis. Job losses may last well into 2010, and unemployment may peak at close to 11 percent.

In the aftermath of the 1990-1991 recession, Americans bought houses, cars and other expensive goods. This time, the combination of a weak job picture and a severe credit crunch means that people won't be able to get the financing for big expenditures, and those who can borrow will be reluctant to do so.

No wonder poll after poll shows a steady erosion of confidence in the stimulus measures. One survey showed 45% believe the limited results suggest they should simply be abandoned midway. The disappointment is understandable, but that would only make things worse.

So what kind of second-act stimulus program should we look for? This time, it should not be an excuse to pass a lot of programs that don't really have a multiplier effect on job creation and economic growth.

Given the trends, it is critical that the Obama administration not play politics but begin to prepare a second stimulus program to sidestep a major downturn. It will be possible this time to provide much more rapid government support to infrastructure spending that will maximize the creation of jobs.

We feel most all are really growing extremely tired of hearing - the Democrats voted for and the Republican votes against or the Republicans were for and the Democrats were against.

All of us are getting extremely tired of such non-sense. Politicians have totally lost their connection to reality. 

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The Times Journal is a weekly newspaper issued on Thursdays. It was first published on October 13, 1949, by Andrew J. and Terry Norfleet.
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P.O. Box 190
120 Wilson St.
Russell Springs KY 42642
Phone: 270-866-3191
Fax: 270-866-3198
Russell County News is a weekly newspaper issued on Saturdays, and is mailed free to every address in Russell County, Ky. It was first published on February 1, 1913.
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404 Monument Square
Jamestown KY 42629
Phone: 270-343-5700
Publisher:
David Davenport
(publisher@tjrcn.com)
Managing Editor:
Greg Wells
(editor@tjrcn.com)
News & Sports Editor:
Derek Aaron
(sports@tjrcn.com)
Advertising Manager:
Stephanie Smith
(ads@tjrcn.com)
Business Manager:
Kim Haydon
(business@tjrcn.com)
Production Manager:
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(rcnoffice@tjrcn.com)
PUBLIC MEETINGS
Members of the public may attend meetings. Boards or agencies may schedule other meetings at special times, but are required to notify the public.
FISCAL COURT: 2nd Monday of month, 6 p.m. in the Courthouse
RUSSELL SPRINGS CITY: 2nd Thursday of month, 6 p.m. in the City Hall Municipal Room
JAMESTOWN CITY: 3rd Thursday of month, 6 p.m. in basement meeting room at City Hall
SCHOOL BOARD: 3rd Monday of month, 6:30 p.m., Board of Education office in Jamestown
LIBRARY BOARD: 2nd Tuesday of month, 5 p.m. at Jamestown Library
AIRPORT BOARD: 1st Tuesday of month, 5 p.m. at Airport
TOURISM COMMISSION: 2nd Wednesday of month, 12:30 p.m. at Tourism Office
CHAMBER OF COMMERCE: 3rd Tuesday of month, noon at The Cove restaurant
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