Investments

ObamaCare Waiver Update:

HHS gave a waiver to Local 25 SEIU in Chicago with 31,000 enrollees on Oct. 1, 2010; to Local 1199 SEIU Greater New York Benefit Fund with 4,544 enrollees on Oct. 10, 2010; and to the SEIU Local 1 Cleveland Welfare Fund with 520 enrollees on Nov. 15, 2010.

So far, the Obama administration has issued waivers to 222 entities, including businesses, unions and charitable organizations. Of that total, 45 were labor organizations.

A total of 1,507,418 enrollees are now included in the waivers. More than one-third — 512,315 – of the enrollees affected were insured by union health plans.

SEIU Local 1199’s health plan put a $50,000 cap on medical expenses for its New Jersey nursing home workers, according to 1199 SEIU spokeswoman Leah Gonzalez. That’s $700,000 under the 2011 limit stipulated by HHS regulations.

I’ll say it again, if it’s so great why do they need waivers??

It’s the SEI FU!

The SEIU’s Committee on Political Education made $27,829,845.91 in independent expenditures on Obama’s presidential campaign in 2008. (CNS)

And I’m sure this had nothing to do with it! It was just a return on their “Investment”.

And “investment” is the new Liberal buzzword. It will probably be in every sentence of the State of The Union speech tonight.

Obama/ Democrat “Investment” = SPENDING!

More Investment. More Spending.

So what if we are $14 Trillion in debt and are so broke our credit card company is threatening to cancel our card.

Liberals just can’t stop spending.

So they have to come up with a new Orwellian buzzword for it.

It’s an old trick, calling spending investments, one pioneered by Bill Clinton. As Obama said last month: “[C]utting the deficit by cutting investments in education [and] innovation [is] like trying to reduce the weight of an overloaded aircraft by removing its engine….It’s not a good idea.”

Keynesian economics argues that government spending comes with a beneficial “multiplier,” whereby a dollar spent on infrastructure causes many more dollars to be activated in the economy right away. When you plow a billion into a construction project, not only do the contractors’ employees and suppliers get paid that billion, they in turn spend it in local shops and such. More individuals than just construction workers see their livelihoods goosed.

The unemployment in construction these days is one of the highest of any profession out there, and is also rampant with Illegal Aliens who are cheaper than Union thugs.

The Unemployment rate last month in Construction was 20.7%.

Way to go on that “investment”.

THE REAL UNEMPLOYMENT “INVESTMENT”

The total non institutional civilian labor force (Americans 16 years and older who are not in a institution -criminal, mental, or other types of facilities- or an active military duty) is reported as 238.889 million. Of these, we see:

  • Employed: 139.206 million people (58.3% of labor force)
  • Unemployed: 14.485 million people (6.1% of labor force)

Obviously, that can’t be the total picture, we’re only at 64.4%. This is why:

  • Part time employed for economic reasons: 8.931 million people. This concerns people who want a full-time job but can’t get one.
  • Part time employed for non-economic reasons: 18.184 million people. Non-economic reasons include school or training, retirement or Social Security limits on earnings, but also childcare problems and family or personal obligations.

But the by far largest category “missing” from both the Employed and Unemployed statistics is the “Not In Labor Force”: 85.2 Million people.

The BLS definition states: “Not in the labor force (NILF). A person who did not work last week, was not temporarily absent from a job, did not actively look for work in the previous 4 weeks, or looked but was unavailable for work during the reference week; in other words, a person who was neither employed nor unemployed.” (Clearly, this does include lot of unemployed people).

To summarize: 108.616 million people in America are either unemployed, underemployed or “Not in the labor force”. This represents 45.5% of working age Americans.

If you count the “Part time employed for non-economic reasons”, you get 126.8 million Americans who are unemployed, underemployed, working part time or “Not in the labor force”. That represents 53% of working age Americans.

So only 47% of working age Americans have full time jobs. While the official unemployment rate is 9.4%. Something’s missing somewhere. (Business Insider)

So what we need is more “investment”. :)

Oh, here’s another Investment.

FOOD STAMPS OUTSOURCED TO INDIA

JP Morgan Chase who received Bailout money has outsourced their call center calls on Food Stamps (that they get taxpayer money for) to INDIA!

Jobs anyone?? “Investment” anyone?

JP Morgan is the largest processor of food stamp benefits in the United States. JP Morgan has contracted to provide food stamp debit cards in 26 U.S. states and the District of Columbia. JP Morgan is paid for each case that it handles, so that means that the more Americans that go on food stamps, the more profits JP Morgan makes. Yes, you read that correctly. When the number of Americans on food stamps goes up, JP Morgan makes more money.

So if unemployment goes down will this ruin JP Morgan’s food stamp business?

Well, apparently not. In the interview Paton says that 40% of food stamp recipients are currently working, and he seems convinced that there could be further “growth” in that segment.

It turns out that JP Morgan also provides child support debit cards in 15 U.S. states and they also provide unemployment insurance benefit debit cards in seven states.

Apparently states have found that they can save millions of dollars by “outsourcing” the provision of these benefits to big financial firms like JP Morgan.

So what happens if you have a problem with your food stamp debit card?

Well, you call up a JP Morgan service center. When you do this, there is a very good chance that you are going to be helped by a JP Morgan call center employee in India.

That’s right – it turns out that JP Morgan is saving money by “outsourcing” food stamp customer service calls to India.

Just try to imagine the irony – a formerly middle class American that has lost a job to outsourcing calls up to get help with food stamp benefits only to be answered by a call center employee in India.

So when you’re outsourced and on Food stamps you can be reminded where your job went every time you call. :)

The biggest Wall Street financial institutions had no trouble begging for bailouts from the U.S. government during the financial crisis, but when the American people have needed a little grace and mercy from them they have been less than helpful.

I guess we need more “Investment” :)

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About indyfromaz

Born in Michigan. Been a Resident of Arizona for 25 years. Doctor Who and Foodie Fan. Cynical Conservative-Bent Tea Party Independent
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