Bad in California? Las Vegas Unemployment Tops Us.

The Bureau of Labor Statistics reported in late September that of the 49 metropolitan areas with a Census 2000 population of 1 million or more, the highest unemployment rates in August were registered in Las Vegas-Paradise, Nev.,and Riverside-San Bernardino-Ontario, Calif., 14.2 and 14.1 percent, respectively.   The national unemployment rate in August was 9.1 percent, not seasonally adjusted, down from 9.5 percent a year earlier.

 

 

 

 

 

 

It may then not be surprising that President Obama chose Las Vegas to announce his new mortgage relief program a few days ago.  Obama’s new plan implicitly recognizes that his old plan hasn’t worked too well.  Supposedly one million people will be able to qualify for it.  But the subsidies smack of just going back to the old days when anybody who couldn’t afford it could get a mortgage, thanks to liberals like Barney Frank who pressured lenders to push out loans to very high risk borrowers.  Part of Obama’s plans are a $15 billion “neighborhood revitalization plan” in his current $447 billion jobs package that most thinking people recognize probably won’t create more private-sector jobs than he has already failed to do.  Where does all that money come from?

I say just learn to bar tend – with Obama as president, our retirement portfolios, mortgages and jobs have all gone down.  But the number of Americans who consume alcohol has gone up.  There is a job and an investment in there somewhere.  Viva Las Vegas.

Comments

  1. Las Vegas Unemployment Tops Us? Just desserts I say for shoving Harry Ried down the nations throat even after 2010 made the voters intentions clear. What happened in Vegas, should have stayed in Vegas. Its our bad luck he did not.

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