Is it time for a Detroit bailout?
After years of democrat control and influence nearly half of the population in Detroit is unemployed.
The Detroit News reported:
Despite an official unemployment rate of 27 percent, the real jobs problem in Detroit may be affecting half of the working-age population, thousands of whom either can’t find a job or are working fewer hours than they want.
Using a broader definition of unemployment, as much as 45 percent of the labor force has been affected by the downturn.
And that doesn’t include those who gave up the job search more than a year ago, a number that could exceed 100,000 potential workers alone.
“It’s a big number, and we should be concerned about it whether it’s one in two or something less than that,” said George Fulton, a University of Michigan economist who helps craft economic forecasts for the state.
Mayor Dave Bing recently raised eyebrows when he said what many already suspected: that the city’s official unemployment rate was as believable as Santa Claus. In Washington for a jobs forum earlier this month, he estimated it was “closer to 50 percent.”
Hat Tip Kenneth S.
Now Obama and democrats want to spread that same liberal philosophy that ruined Detroit across the nation.
Hope and Change.
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