Workforce Lays off while Texas stimulus stays idle

Jessica Wilson/ KETK News

October 30, 2009 - 6:21pm

Tyler - Workforce Solutions lay off 48 employess, but what does that say for the Texas economy on jobs?

Texas didn't take unemployment cash from the federal stimulus.

The governor says he didn't want to be tied to paying texas tax dollars into mandated federal programs attached to the stimulus.

But with unemployment going up the states' responsibility in getting unemployment benefits is under scrutiny.

Like in July when there was a delay in benefits until money was approved.

And now .. these Workforce employees are laid off.

We talked to state lawmaker Leo Berman to ask ... what can the state do?

He says it's too late...with the legislature not meeting again for another two years.

But he says taking the federal stimulus dollars for unemployment would not have solved the problem.

He says the texas economy is not doing too badly.

"It's taken a long time for the economic recession to really reach Texas it has finally reached us now and we're not seeing as many people out of work as we thought that we could possibly have."

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The economy is moving forward. However, unemployment rate is still rising. We all know that every now and again, we have an extremely inconvenient situation that pops up, and people that can't get bank financing could look short term loans for bad credit. Well, short term loans for bad credit lenders do exist. However, like any other financial tool it's a short term solution for a short term problem, and caution, restraint, and responsibility must be taken for anyone looking for a lender. Some lenders are even online, and can take your application over the phone or the internet, and wire your funds with direct deposit. For those in need, short term loans for bad credit are there, but are only to be used for a short term problem.

MarinaN

6 months ago

Thanks for sharing the article, despite of the several issues that our country has been facing this recent years it would be great if a person could get part of their paycheck in between paydays every now and again, in case of emergency expenses – but since employers don't do that, there are cash advance loans. Cash advance loans, like a bank loan or credit card or anything else, have to be used sparingly and only for needs, not wants- so if you have an electric bill due, they're appropriate, but if there's a new set of heels you simply MUST have – then don't, and save up like a responsible person. Since cash advance loans lenders have gone online, you can get a no fax cash advance possibly with no credit checks if you need the funds quickly.

Shawna S.

6 months ago

U.S. economic growth claims are fabricated on more debt spending.

(CounterThink) – While the White House is celebrating a 3.5% reported growth in GDP last quarter — the first economic growth in a year — they conveniently forget the simple fact that it’s easy to fake economic growth with debt spending.

This so-called “growth” was really just the result of the U.S. Treasury flooding the economy with more debt-ridden “stimulus dollars” that will drive the nation even deeper into irreversible debt. That’s not genuine economic growth, it’s just really bad economic planning.

For example, if a family is living on credit card debt to buy groceries, and they’re two years behind on credit card payments, and then they suddenly take out a huge cash advance against their credit cards so they can spend even more money, that’s not “economic growth.” That’s just more stupid spending.

The U.S. government has done precisely the same thing: It’s spending money it doesn’t have, then claiming “an end to the recession” because the nearly $1 trillion in stimulus dollars did, indeed, manage to spend a lot of money and create “economic activity.” But rather than being good news, it’s actually really bad news because it’s all borrowed money.

Speaking of stupid economic ideas, $3 billion of those stimulus dollars were used to buy new cars as part of the U.S. government’s “clunkers” program. An analysis of the program reveals that taxpayers ended up paying $24,000 for each additional car sold under the scheme (http://money.cnn.com/2009/10/28/aut…). In effect, the “cash for clunkers” program was a giant government handout to Japanese car manufacturers. Sure, it counts as economic activity (and adds to the nation’s GDP), but is it really an intelligent way to spend taxpayer dollars?

Similarly, the tiny surge in home sales was spurred by yet another government handout: The $8,000 tax credit for first-time home buyers. Although such a stimulus appears to create economic activity, it really just throws more debt money at a nation that’s already buried under so much debt that foreign investors are increasingly selling the dollar and buying other currencies.

Real economic growth requires more people having real jobs that produce real goods or services. And that’s simply not happening in America. According to Labor Department statistics, 530,000 Americans file for unemployment claims last week alone. Tens of millions are out of work, and there’s been no growth whatsoever in terms of new job openings.

The White House can cheer its fabricated 3.5% growth in GDP, but real economists know the difference between genuine economic growth and a debt spending blip. Gee, if spending more debt money is the way to prosperity, then why not just throw $100 trillion and boost the GDP by 350%?

The answer is because debt costs you money, which means this 3.5% growth in GDP is going to cost the nation probably 4% in economic punishment somewhere down the road. When it comes to economics, there’s no such thing as a free lunch, and the laws of compounding interest eventually cause every debt spending spree to come to a crashing close.

The United States of America is not immune to the laws of economics any more than you or I.

Source: Counter Think