09-25-2017  8:19 am      •     
The Wake of Vanport
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NEWS BRIEFS

Morris Marks House on the Move

Its relocation is scheduled for Sept. 30 and will take approximately two days ...

Tim Burgess Inaugurated as 55th Mayor of Seattle

Burgess, a former radio journalist, served as Seattle City Councilmember from 2008 to 2017 ...

Mobile Mammography Van Comes to Health Fair, Oct. 7

Onsite mammograms, music, food, health information, and fun ...

Humboldt Sewer Repair Project Update: September 15, 2017

Environmental Services continues a project to repair more than 3 miles of public sewer pipes ...

NAACP Portland Branch Invites Community to Monthly General Membership Meeting

Meeting takes place from noon to 2 p.m. Sept. 23 ...

U.S. & WORLD NEWS

OPINION

Trump Can’t Deport the American “Dreamers” Without a Fight

Julianne Malveaux criticizes President Trump’s approach to immigration, the dreamers and DACA. ...

What You Should Know about the Equifax Data Breach

Charlene Crowell, the communications deputy director for the Center for Responsible Lending, reports on the Equifax data breach which...

Jeff Trades an Unknown Known for a Known Known

Jeff Tryens reflects on life in Central Oregon ...

We Must Have A New Poor People's Campaign and Moral Revival

Bishop William J. Barber II pens an exclusive op-ed about the need for a New Poor People's Campaign and Moral Revival. ...

AFRICAN AMERICANS IN THE NEWS

ENTERTAINMENT

Annalyn Kurtz CNN Money

NEW YORK (CNNMoney) -- Since the recession, Congress and President Obama have supposedly been focused on job growth, yet their squabbling may actually be killing jobs, according to estimates from economists.

Washington's heated budget battles have already cost the economy at least 1 million jobs over the last few years, estimates Mark Zandi, chief economist for Moody's Analytics.

How? Debates about stimulus in 2009, and the federal budget and debt ceiling since then, have created so much political uncertainty for businesses, entrepreneurs, banks and consumers, they're all holding back.

"Businesses are more reluctant to invest and hire, and entrepreneurs are less likely to attempt startups," Zandi said in written testimony before the Senate Budget Committee last week. "Financial institutions are more circumspect about lending and households are more cautious about spending."

Political uncertainty, as measured by a Moody's Analytics index, reached record highs during the debt-ceiling debate two years ago, and is now back on the rise.

Zandi estimates the unemployment rate would be around 6.6% now if political uncertainty had not increased since 2007. Unemployment currently stands at 7.3%.

His estimate coincides with separate research conducted by San Francisco Fed economists Sylvain Leduc and Zheng Liu, who say the unemployment rate would have been around 6.5% at the end of 2012, if it weren't for an increase in political uncertainty.

The U.S. economy lost 8.7 million jobs between 2008 and early 2010, and has since gained back 6.8 million jobs.

As of August, about 11.3 million Americans remained unemployed.

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