Austin unemployment jumps, region has first job loss

See: The region’s unemployment rate jumped to 7.1 percent, from 6.2 percent in May, the Texas Workforce Commission reported.

The comments to this article (above) are to the contrary of the following statement:

I think its too early to blame President Obama and too late to continue to blame President Bush. This is our economy now.

The scary reality: Paulson, Geithner, hell Greenspan don't have a CLUE as to how this will all play out.

Our personal savings rates as a nation started going south around the late 1980s, U.S. Department of Commerce: Bureau of Economic Analysis: Personal Savings Rate. We went up to 8% in April of '92, and hit 1.6% the last year of '99. I resemble this remark: we were AWASH in money and saving NOTHING. The US Savings Rate was -0.2% in October of 2001 (after 9/11), -2.7% August of 2005 and currently at 6.9% as of April this year.

WHEN we climb out of this, I for one will be a little more paranoid and SAVE for the next eventual recession.