Something Has to Give
The US has the third largest population in the world with 307 million people. Only China and India have larger populations. The US workforce is nominally 155 million people, with 31 million people either unemployed or under-employed in March 2010. In other words, one in five americans who want full time work either can't find any work or are only working part time. Staggering!
These unemployed and under-employed are not paying taxes nor participating in the economy, except as a drain on economic resources. These folks still generate waste, drive on our roads, require police and fire protection, require health care and all other government services. No wonder the city, state and federal governments are drowning in a sea of red ink.
Since the US economy is principally a service based economy and the unemployed and under-employed aren't able to participate, the service based economy has slowed significantly. Thus, fewer service based jobs are available.
The 124 million americans who are lucky enough to be working full time can't support the remaining 183 million who aren't and maintain the american standard of living.
These unemployed and under-employed are not paying taxes nor participating in the economy, except as a drain on economic resources. These folks still generate waste, drive on our roads, require police and fire protection, require health care and all other government services. No wonder the city, state and federal governments are drowning in a sea of red ink.
Since the US economy is principally a service based economy and the unemployed and under-employed aren't able to participate, the service based economy has slowed significantly. Thus, fewer service based jobs are available.
The 124 million americans who are lucky enough to be working full time can't support the remaining 183 million who aren't and maintain the american standard of living.
posted by lugh lampfhota at 7:39 PM
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