Wednesday, September 7, 2011

The Walker Budget Is Already Working! Part XV

Thanks to Scott Walker and his Republican legislator buddies, it's not just jobs that we are hemorrhaging, it's also our homes:
After slowing down this year, foreclosure filings spiked in Milwaukee County in August, setting the pace for an overall 34% increase in foreclosure actions in southeastern Wisconsin from July.

The major culprit: A lack of new jobs to cut into the high unemployment rate.

"Foreclosures typically drop as employment picks up," said economist Brian Jacobsen, chief portfolio strategist for Wells Fargo Advantage Funds in Menomonee Falls.

Russell Kashian, an economics professor at the University of Wisconsin-Whitewater, said "people lack the shovel to dig themselves out - they need a job."

"There are only so many family members to help, and so many IRAs and so many 401(k)s you can liquidate, and then you're done," Kashian said.
It won't be long before Walker hits the tipping point in popularity. When enough people are feeling the pain of his malificent budget and misconduct in office, even the Republicans will be ready to sign his recall petitions.

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