States Face ‘Staggered’ Recovery, Pew’s Urahn Says

[spursncowboys]

By Catarina Saraiva and Michael B. Marois

April 16 (Bloomberg) -- U.S. states face a “staggered” recovery even as the national economy shows signs of stabilizing, Susan Urahn, a managing director at the Pew Center on the States, told investors on a conference call.
They may also have to contend with three to four more years of budget woes, said Laura LaRosa, director of fixed income at Glenmede Investment & Wealth Management in Philadelphia, on the call today.

“When the recovery comes, it’s going to be staggered and slow,” Urahn said. “The lag happens because it takes time for the states’ unemployment rates to come down to pre-recession levels.”

“Given the long-term ramifications of what’s going on, we could be looking at malaise through these state budgets for three to four years,” said LaRosa, who helps manage $4.5 billion in municipal bonds.

http://www.bloomberg.com/apps/news?p...d=aE.g8HmZ6Fwc

[ChumpDumper]

And?

[TheProfessor]

And?

If unemployment doesn't improve more rapidly as a result of state budgetary woes, it will kill the Democrats at midterms and perhaps the general elections in '12. Not sure if that's the point SnC was trying to make.

[spursncowboys]

EDIT: nm

[boutons_deux]

The economy needs to create 1M jobs/year to keep up with population growth.

In the 3 years of the The Banksters' Great Depression, 3M jobs weren't created and 8M were lost = 11M job hole.

Assume it takes, from now, 4 more years to reach "full" employment of 5% unemployment.

11M + 4M = 15M jobs / 48 months = 300K jobs created every month.

Use +300K jobs as a reference point as monthly +/- job numbers are announced.

[ChumpDumper]

nm

[Winehole23]

Off the rack Republican doom and gloom. They used to be so chipper. Now they're just like the Dems. Whingeing and moaning all the time.

[Winehole23]

[Winehole23]

Ain't it awful?

[boutons_deux]

underwater (NY) homeowners gonna be screwed for a long time:



http://www.nytimes.com/2010/04/18/re...er=rss&emc=rss

Greenspan, Rubin, banksters, etc, all declare( ing lie) that nobody had any idea that a housing bubble was in progress or that TBTF banks were all bankrupted from their "unknown" fake "AAA" risks.