2nd Shoe in Unemployment soon to Drop

[Small Biz Owner]

1st shoe End of Federal Extended Unemployment benefits in Jan 2012.

2nd Shoe Major cuts in military spending

Congress agreed last month to cut military spending by $350 billion over the next 10 years. The defense budget will automatically be cut by another $500 billion over that period if lawmakers fail to reach a deficit-cutting deal by November.

And the US military contractors are returning from overseas .... with no forseen employment prospects or benefits.

Analysts say the heavy reliance on contractors should allow the military to wind down spending more quickly, because it is easier to terminate a contract than to reduce uniformed troop levels. Also, the government isn't responsible for pensions, health care and other benefits for contract workers, which should save money

finance.yahoo.com/news/A-golden-decade-for-defense-apf-4073820454.html?x=0

[Small Biz Owner]

Equipment spending is already being scaled back. In 2009, funding for the F-22 fighter jet, a $65 billion program, was discontinued. Spending on the F-35 fighter jet is in danger of being cut back. An advanced warship called the DDG1000 has been canceled, and an upgrade to the Bradley tank called the Ground Combat Vehicle may also be scaled back or canceled.

And another earnings loss to US companies making this equipment as the defense budget is slashed.

[reasonfreedom]

I spoke to a few of my friends in the military and they were just offered contractor jobs overseas. Not sure where you are getting that they are returning from overseas, please provide some kind of statistical data.

[Small Biz Owner]

I spoke to a few of my friends in the military and they were just offered contractor jobs overseas. Not sure where you are getting that they are returning from overseas, please provide some kind of statistical data.

Don't read much news do you?

U.S. Defense Contractors May See Brunt of Job Cuts - Video - Bloomberg
4 days ago ... A $788 billion cut in Pentagon spending under the debt ceiling law's.

www.bloomberg.com/video/73843428/ - Cached - Similar

OFWs to lose 7000 jobs in Afghanistan « Overseas Civilian Contractors
Jan 10, 2011 ... News and discussion for Civilian Contractors working Overseas ... Secretary of
Defense Defense of Freedom Medal ... workers stand to lose some 6000 to
7000 potential “good-paying jobs” in Afghanistan as a ...

civiliancontractors.wordpress.com/.../ofws-to-lose-7000-jobs-in-afghanistan/ - Cached - Similar

[lifewasgood]

It is not good for housing either, as the best housing markets are around military bases because of constant turnover of personnel. When DOD cuts, they usually suspend change of station orders to save on the cost of moving military. This will cause housing around military bases to flatten out at a minimum.

[lifewasgood]

BRAC, and the Clinton administration downsizing of the military already cut active duty and replaced many of the tasks with contract labor. DOD cuts will most likely come from contractors which will send the unemployment rate higher. Very few jobs available and more hungry workers lined up for them.

Side note: Once this starts, we will hear again how they are just uneducated lazy fools.

[decoy409]

life, that's no way to talk about our soldiers.

OPPS! I mean that is no way for them to talk about those that have served them.

Sad however as many are being considered that have returned 'useless eaters' now.

[Deleted]

Let's bomb Mexico.

[decoy409]

Arch, you can't do that. It makes MONEY! Just not the money that some refer to or are set on such as a debt note in hand with Federal reserve stamped on it.
There is more than one type of money. That's why the coined term floats so well in the game.

[smackdown]

So... what do we get? A LAME jobs plan that pays Big Bad Business to rehire the people they willfully irresponsibly terminated-- at lesser pay- without taking any losses. Sorry... NO.

98% of America is on the same page. Our "cash rich" oligarchies need flushing and IF there are to be incentives... abolishing Master Degrees getting salaries would be a start. You're a "Master" get you button-pressing butt out there and START something from scratch and sweat. Give them a year of formation without taxes and these mandates for guidance... NON-administrative business, has personnel (hiring potential) and will provide more than the Founder with Family-sustaining wages. In short-- MAKE something or FORFEIT your degree. We would also be wise to begin doing away with the Incorporation label and redefine businesses so there is VIABLE LIABILITY where there are abuses and only anonymity where such a defense can make sense. Let's eliminate Law Biz altogether... two lawyers don't make a Firm, they make trouble.

[decoy409]

Small Biz Owner, since you brought this thread into play,well I have been looking further inside as to the RIPPLES. I was thinking instead of RIPPLES this time,it should be renamed to Tsunami.

[Small Biz Owner]

Ok Decoy, 2012 is the answer. In 2012, Extended Unemployment ends. Regular unemployment is being reduced from 26 weeks to less in several states. Military contract spending reduced. State Govts no longer getting Federal money.

This is just part of the Ripple/Tsunami effect, as all of them no longer have the means to keep people employed, or keep spending with continued borrowed money.

[decoy409]

Small Biz Owner, and I NEVER called for the end of the world.

Merely 'CHANGE' is all.

The more you follow it,the less you want to. It's the excitement I guess.