Downer! AKA the June Jobs Report....
Summer is here and the time is right to slash and burn jobs. At least that's the conclusion we can reach when we see that almost 500,000 people lost their jobs in June, making the jobless rate - 9.5 percent - the highest its been since Reagan was in office. That was back in 1983, when the Rust Belt cleared out all those jobs in steel and other manufacturing industries. Back in the early 1980s, Reagan promised he would bring "morning in America!" And we got a nasty recession and unemployment and states across the country dumped the mentally ill from asylums they could no longer afford to keep open. Reagan also promised the benefits of "the trickle down" theory - all those tax cuts for the rich would enhance the lives of everyone else. That "trickle down" boat seems to have sailed out to sea with just the very rich on board. Since Reagan, with rising prices and stagnant salaries, the middle class seems to be sinking, not rising, as promised, w...