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After the U.S. Presidential Election: The Fiscal and Unemployment Cliff

Updated on November 7, 2012

The presidential election is done. Romney did well, but Obama moved forward. America is gearing for more of the same. Stay the course. Hope for the best. Pray.

Looming very close is that "fiscal cliff", that many really have little clue about as they go about their daily routines and lives. Recession will occur unless Obama is able to be effective in the $500 billion of automatic tax increases and spending cuts slated to start in January 2013. key to the solution is compromise from the Republican House. Obama is fairly rigid about the tax breaks for the wealthy set to expire. so much so, it is said he is willing to allow the largest tax increases in history to go into effect. Republicans do not want the tax breaks for the rich to expire. If there is no agreement, then the federal debt limit will be increased to $16.4 trillion.

The employment situation remains stagnant and as bad as ever. A new study shows that there is 3-4 persons to every job opening. Job openings dropped by 100,000 to 3.5 million openings. This is the fewest in five months. For those looking for a job, it is a horrible place to to be with 12.1 million unemployed. In healthy times, pre-2008, the job applicant to a job opening was only 2 to 1. Adding to the mix is that those in lousy jobs or any jobs are not quitting and it is at its lowest in 10 months. This means workers see fewer opportunities to move into and are just enduring-waiting. Job openings all dropped for manufacturing, construction, hotels, restaurants and government. Openings also dropped in high paying professional jobs and temps.

Getting a job, even a seasonal job, is challenging. At Macy's, their clerk wages are between $8-10 hr. These types of low wages are standard for many retail and grocery stores, yet, there is no short of applicants for them.

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    • bettybarnesb profile image

      bettybarnesb 

      6 years ago from Bartlett, TN

      Interestng article. There is a lot to do but without participation from all government involved, life as we once knew it will never be again. I pray so for my grandchildren. When they are grown, how will life in America be. Thanks for sharing.

    • teaches12345 profile image

      Dianna Mendez 

      6 years ago

      I don't see how anyone can untangle the mess our country is in right now. The ideas seem plausible, but carrying them out is another thing. Thanks for the update.

    • Curiad profile image

      Mark G Weller 

      6 years ago from Lake Charles, LA.

      I agree with Wayne, The answers provides or proposed do not address the real issues. Rather than more government and more taxes, this country needs far les Government and regulation. The Gov. and regulation that does exist needs to be focused on public safety issues and not schools, businesses, outsourcing, and the like.

    • Wayne Brown profile image

      Wayne Brown 

      6 years ago from Texas

      Nothing happens in the job market beyond the status quo until the private sector is unbridled. Romney knew that but Obama either is too dumb to know it or it does not fit his agenda. I vote for the latter. FDR proved time and again over 12 long years of failed government programs that an economy cannot be resurrected through government spending. In this case, increased taxation will only further stagnate the situation and make it worse sending more money into the government to be spent of new frivilous social welfare programs. Obama proposes education and training as a solution but when 4 to 5 people are standing in line for the same jobs, training and education are not the issue. Once again the solution does not match the problem. We do not need better qualified people....we need more jobs and the private sector is the only source of them. That sector is currently stymied by the unpredictable taxation situation, the undefined elements of Obamacare, and the over-regulation by the EPA and other federal agencies. Obama wants to "grow the economy" from the middle out yet the middle cannot get out because there are few opportunities with each passing day and less investors to provide those opportunities. Four more years of Obama is toxic for this country. ~WB

    • Perspycacious profile image

      Demas W Jasper 

      6 years ago from Today's America and The World Beyond

      I have a cat who gets wounded once in a while from being out and about in the world. He licks his wounds and goes back out and about in the world. Today is a day for Romney/Ryan supporters among us to lick our wounds, realize we were not alone in hoping for a more fiscally responsible form of government and better employment numbers, and then get back out in the world without being intimidated, learn from our lessons, and continue to insist that our voices also be heard in our country...just as previous Democrat minorities have been heard when Republicans win. States may be "winner-takes-all" but our country is not.

    • carol7777 profile image

      carol stanley 

      6 years ago from Arizona

      Pretty sad state of affairs...Maybe a miracle??? Thanks for pointing this all out..Lots of political anaylsis today and soon they will stop ..when they actually need to keep going. Great job as always.

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