At this point, it's looking like the economy won't fall back into a recession — but it is going to continue its anemic growth pattern. Against the backdrop of this malaise, we have a long-term unemployment problem: uninspiring jobs data is scheduled to be released tomorrow, with our national rate expected to stay around 9 percent and the California rate to remain at or above 12 percent. Can you say "stagnation?"
In Washington, President Obama and Republicans in Congress are playing chicken with legislation that would extend federal transportation funding. Obama says 4,000 jobs are at stake. And this is just an extension of funding that's due to expire on Sept. 30. Another fight looms over the cost of a long-term bill. Democratic Congresswoman Lois Capps of Santa Barbara argues that the parsimonious GOP plan would cost the state 51,000 jobs.