The Problem in a Nutshell

With YET ANOTHER debt Crisis loomin in a couple of weeks, here’s the real pr5oblem in a nutshell.

Federal Taxes Set Record in FY 2015; $21,833 Per Worker; Feds Still Run $438.9B Deficit

The Federal Government fot the year has has record tax collection, the likes of which have NEVER been seen in US history BUT yet they are STILL RUNNING A DEFICIT!!

They are still spending more than they take in, though they have never taken more money EVER!

That is the problem in a nutshell.

But don’t talk to the politicians, especially not Democrats about cuts because they will go nuclear about throwing grandma off a cliff, kids starving, rich people are greedy, etc etc ad nauseum.

And the RINOs have no balls. So This will continue.

That’s the problem.

(CNSNews.com) – The federal government took in a record of approximately $3,248,723,000,000 in taxes in fiscal 2015 (which ended on Sept. 30), according to the Monthly Treasury Statement released today.

That equaled approximately $21,833 for every person in the country who had either a full-time or part-time job in September.

It is also up about $212,927,100,000 in constant 2015 dollars from the $3,035,795,900,000 in revenue (in 2015 dollars) that the Treasury raked in during fiscal 2014.

federal_tax_receipts-chart
1985-2015

 

Even as the Treasury was hauling in a record $3,248,723,000,000 in tax revenues in fiscal 2015, the federal government was spending $3,687,622,000,000. So, the federal government ran a deficit of $438,899,000,000 for the fiscal year.

According to the Bureau of Labor Statistics, total seasonally adjusted employment in the United States in September (including both full and part-time workers) was 148,800,000. That means that the federal tax haul for fiscal 2015 equaled about $21,832.82 for every person in the United States with a job.

In 2012, President Barack Obama struck a deal with Republicans in Congress to enact legislation that increased taxes. That included increasing the top income tax rate from 35 percent to 39.6 percent, increasing the top tax rate on dividends and capital gains from 15 percent to 20 percent, and phasing out personal exemptions and deductions starting at an annual income level of $250,000.

An additional 3.8 percent tax on dividends, interest, capital gains and royalties–that was embedded in the Obamacare law–also took effect in 2013.

The largest share of fiscal 2015’s record-setting tax haul came from the individual income tax. That yielded the Treasury $1,540,802,000,000. Payroll taxes for “social insurance and retirement receipts” took in another $1,065,277,000,000. The corporate income tax brought in $343,797,000,000. (By Terence P. Jeffrey )

But yet, the drug addicts in Washington not only want more, they want to blame you for being greedy if you demand they cut back.

That’s the problem in a nutshell.

And the nuts are in charge of the squirrels…

Going Up

Being a “bigot” by Leftist lack of standards pays off.

A fundraiser for the owners of an Indiana pizzeria that became the target of widespread animosity after they said they wouldn’t cater a same-sex wedding reception has collected more than $828,000 from anonymous donors.

Grand total of $842,387 in 2 days.

A GoFundMe page started by a producer from The Blaze, a conservative news network founded by Glenn Beck, has drawn more than 28,500 donors.

“The intent was to help the family stave off the burdensome cost of having the media parked out front, activists tearing them down, and no customers coming in. Our goal was simply to help take one thing off this family’s plate as the strangers sought to destroy them,” wrote Lawrence Jones, a producer who works for Blaze personality Dana Loesch. “But other strangers came to the rescue and the total just keeps going up.”

But since the state Legislature caved and gutted the law anyhow it appears the all-out nuclear bombardment by the “tolerant” and  “compassionate” Left has ended.

They have moved on to other targets.

**************

But they aren’t they only things going up…

The number of Americans 16 years and older who did not participate in the labor force–meaning they neither had a job nor actively sought one in the last four weeks–rose from 92,898,000 in February to 93,175,000 in March, according to data released today by the Bureau of Labor Statistics.

That is the first time the number of Americans out of the labor force has exceeded 93 million.

Also from February to March, the labor force participation rate dropped from 62.8 percent to 62.7 percent, matching a 37-year low.

Five times in the last twelve months, the participation rate has been as low as 62.8 percent; but March’s 62.7 percent, which matches the participation rate seen in September and December of 2014, is the lowest since February of 1978.

A record 12,202,000 black people were not in the labor force in March, as the participation rate for this group declined over the month to 61.0 percent, according to data released from the Bureau of Labor Statistics (BLS).

According to the BLS, the more than 12 million black people not in the labor force in March means that they did not have a job or actively seek one in the past four weeks. The number climbed from 12,122,000 in February to 12,202,000 in March, an increase of 80,000.

According to data released Friday by the Bureau of Labor Statistics, 56,131,000 million women were not in the labor force last month, an increase of more than 100,000 from February when 56,023,000 women were not in the workforce.

The level is a record high, and the labor force participation for the month of March at 56.6 percent is a 27-year low, according to CNS News. In February that rate for women was 56.7 percent.

But all you’re likely to here from the Left is that the unemployment rate was unchanged from last month at 5.5% because that’s as rosy as they can get.

Or you could be The New York Times: The yearlong streak of robust monthly job creation was broken on Friday with the Labor Department’s report that employers added just 126,000 workers in March, a marked slowdown in hiring that echoed earlier signs that sluggish business investment and punishing weather were exacting a toll on the economy.

Damn that Global Warming! 🙂

But at least the workers at McDonald’s are mad about getting a raise because it’s less than what they wanted. 🙂

Political Cartoons by Michael Ramirez
Political Cartoons by Gary Varvel
Political Cartoons by Nate Beeler
Political Cartoons by Robert Ariail
Political Cartoons by Larry Wright

Opportunity

According to a major new report from the Center for Immigration Studies (CIS), net employment growth in the United States since 2000 has gone entirely to immigrants, legal and illegal. Using data from the Bureau of Labor Statistics, CIS scholars Steven A. Camarota and Karen Zeigler found that there were 127,000 fewer working-age natives holding a job in the first quarter of 2014 than in 2000, while the number of immigrants with a job was 5.7 million above the 2000 level.

The rapidity with which immigrants recovered from the Great Recession, as well as the fact that they held a disproportionate share of jobs relative to their share of population growth before the recession, help to explain their findings, the authors report. In addition, native-born Americans and immigrants were affected differently by the recession.

Other significant findings include:

  • Because the native-born population grew significantly, but the number working actually fell, there were 17 million more working-age natives not working in the first quarter of 2014 than in 2000.
  • The share of natives working or looking for work, referred to as labor force participation, shows the same decline as the employment rate. In fact, labor force participation has continued to decline for working-age natives even after the jobs recovery began in 2010.
  • Immigrants have made gains across the labor market, including lower-skilled jobs such as maintenance, construction, and food service; middle-skilled jobs like office support and health care support; and high­er-skilled jobs, including management, computers, and health care practitioners.
  • The supply of potential workers is enormous: 8.7 million native college graduates are not working, as are 17 million with some college, and 25.3 million with no more than a high school education.

According to the study, 58 million working-age natives are not employed.

Camarota and Zeigler report three conclusions:

  • First, the long-term decline in the employment for natives across age and education levels is a clear in­dication that there is no general labor shortage, which is a primary justification for the large increases in immigration (skilled and unskilled) in the Schumer-Rubio bill and similar House proposals.
  • Second, the decline in work among the native-born over the last 14 years of high immigration is consis­tent with research showing that immigration reduces employment for natives.
  • Third, the trends since 2000 challenge the argument that immigration on balance increases job oppor­tunities for natives. Over 17 million immigrants arrived in the country in the last 14 years, yet native employment has deteriorated significantly.

The Center for Immigration Studies is a non-profit research institute. Founded in 1985, the organization is regularly consulted by policymakers, the academic community, and the media on matters of immigration policy. (NRO)

Political Cartoons by Henry Payne


Political Cartoons by Steve Breen

New Threats

The White House will be “picking up the pace on executive actions,” as Congress focuses its efforts on the newly formed select committee investigating Benghazi, senior Obama adviser Dan Pfeiffer declared Tuesday.

In an op-ed for The Huffington Post, Pfeiffer argued that congressional Republicans are not interested in engaging on the economy, instead spending time “obsessively trying to repeal the Affordable Care Act” and “ginning up politically motivated investigations.”

“Given this dynamic, President Obama has only one option — use every ounce of his authority to unilaterally improve economic security,” Pfeiffer said.

“Next week, as congressional Republicans spend their energy on yet another partisan investigation, we’ll be picking up the pace on the executive actions to help the economy,” Pfeiffer added. (The Hill)

After all, he’s done a great job so far!

The total number of disability beneficiaries in the United States rose from 10,981,423 in March to 10,996,447 in April, setting a new all-time record, according to newly released data from the Social Security Administration.

The labor force participation rate, however, which measures the share of Americans older than 16 who are actively looking for work or who have a job, declined to 62.8 percent, the worst in 36 years!

For the so-called Millennials that have to step in for the retiring Baby Boomers:

The labor force participation rate in April 2014 for Americans ages 25 to 29 hit the lowest level recorded since 1982, when the Bureau of Labor Statistics (BLS) started tracking such data.

The labor force participation rate, which is the percentage of the civilian non-institutional population who participated in the labor force by either having a job during the month or actively seeking one, hit a record low in April 2014 of 79.8%.

And over a Million are newly graduated. I wonder if Burger King has $15/hr yet? 🙂

The number of Americans receiving disability benefits continues to exceed the populations of Greece, Tunisia and Portugal, and is approaching the population of Cuba, which according to the CIA World Factbook is 11,047,251.

The 10,996,447 total disability beneficiaries includes 8,942,232 disabled workers, 153,475 spouses of disabled workers, and 1,900,740 children of disabled workers.

None of those individual categories of beneficiaries set a record in April, but the combination of all three was the highest it has ever been in the history of the disability program.

The number of disabled workers peaked at 8,942,584 in December—with 352 more workers receiving disability than in April. (CNS)

So obviously, we need more imperious “executive” actions because they are working SO well so far! 🙂

Political Cartoons by Eric Allie

 

Implications

So you think the Ministry of Truth’s propaganda about the unemployment rate going down to 7.6 % means things are improving… (that’s the lowest it’s been since Obama took office-by .1% WOW! what an accomplishment!) 🙂

88,000 New jobs! WOW! isn’t Obama Just great!! 🙂

The U6 Unemployment rate is 13.8%  (it was 13.6 in December 2008– the same month as the last time we had 7.6% unemployment! — notice it’s gone up!) 🙂

(The U6 unemployment rate counts not only people without work seeking full-time employment (the more familiar U-3 rate), but also counts “marginally attached workers and those working part-time for economic reasons.” Note that some of these part-time workers counted as employed by U-3 could be working as little as an hour a week. And the “marginally attached workers” include those who have gotten discouraged and stopped looking, but still want to work. The age considered for this calculation is 16 years and over)

Things just keep getting worse for the American worker, and by implication US economy, where as we have shown many times before, it pays just as well to sit back and collect disability and various welfare and entitlement checks, than to work .The best manifestation of this: the number of people not in the labor force which in March soared by a massive 663,000 to a record 90 million Americans who are no longer even looking for work. This was the biggest monthly increase in people dropping out of the labor force since January 2012, when the BLS did its census recast of the labor numbers. And even worse, the labor force participation rate plunged from an already abysmal 63.5% to 63.3% – the lowest since 1979! But at least it helped with the now painfully grotesque propaganda that the US unemployment rate is “improving.”

Jimmy Carter II has arrived. 1.2 million people gave up looking.

The drop in the main unemployment rate was driven by a huge drop in the number of people in the labor force. The unemployment rate is based on the number of unemployed — people who are without jobs, who are available to work and who have actively sought work in the prior four weeks. The “actively looking for work” definition is fairly broad, including people who contacted an employer, employment agency, job center or friends; sent out resumes or filled out applications; or answered or placed ads, among other things. The unemployment rate is calculated by dividing the number of unemployed by the total number of people in the labor force.

People not in labor force:

Labor participation rate:

The Malaise: The Sequel. Only the Ministry of Truth is out to lie it’s way around it this time. Like they have for the last 4 years.

You know they are just going to focus “like a laser beam” on the one tree in the forest that isn’t on fire and hype that (the 7.6%). Nothing else exists, well, almost…

NPR: While the economy continues to add jobs — and has been steadily since mid-2010 — that growth remains slow and could weaken some more as the effects of the federal government’s sequestration budget cuts take effect.

Sequestration? Seriously…

“While more work remains to be done, today’s employment report provides further evidence that the U.S. economy is continuing to recover from the worst downturn since the Great Depression,” writes Alan Krueger, the president’s top economic adviser, . He adds that “it is critical that we continue the policies that are helping to build an economy that creates jobs and works for the middle class as we dig our way out of the deep hole that was caused by the severe recession that began in December 2007.”

Krueger also writes that “it is important to bear in mind that the March household and payroll surveys are the first monthly surveys to look at employment since the beginning of sequestration. While the recovery was gaining traction before sequestration took effect, these arbitrary and unnecessary cuts to government services will be a headwind in the months to come.”

So a HALF A MILLION PEOPLE Gave up looking for a job because of Sequestration!!!

<<BARF BAG OVERLOAD IMMINENT>>

“American employers hired at the slowest pace in nine months in March, a sign that Washington’s austerity drive could be stealing momentum from the economy. (Reuters)

<<BARF BAG OVERLOAD WARNING!>>>

Though the March payroll employment figure was surprisingly low, BLS also on Friday revised up its estimates of growth in January and February. (NPR)

YIPEEE! Let’s all celebrate!!

Huffington Post: Very First Line in the story–

“Austerity may be starting to squeeze the life out of the job market.”

THE AGENDA IS THE AGENDA!!!

Buried own in the story, some class warfare: Worker earnings have gained just 1.8 percent in the past year, not enough to keep up with inflation — even as corporate profits and the stock market have soared to record highs.

THE AGENDA IS THE AGENDA!!!

One reason for the drag has been austerity in federal, state and local governments, which have cut 605,000 jobs since February 2010, a drag on the job market’s growth, even as private-sector employers have added nearly 6.5 million jobs.

“Sharp cuts in government spending implemented March 1 are only beginning to show their ugly consequences,” Heather Boushey, an economist with the liberal think-tank Center for American Progress, said in an email. “While it’s too early to know what the full impact will be on the unemployment rate, government spending cuts are stealing wind from the sails of the recovery.”

OMG!!! WE HAVE TO STOP CUTTING SPENDING !!!! IT”S KILLING US!!!!

<<BARF BAG OVERLOAD>>

Political Cartoons by Glenn McCoy

The Actual Report Card

During President Barack Obama’s first term, the number of Americans collecting federal disability insurance increased by 1,385,418 to a record 8,827,795.

As a result, there is now one person collecting disability in this county for every 13 people working full-time (and that of course is also flat as the unemployment rate in Jan 2009 and the unemployment rate now are the same- The u6 for underemployment is actually higher than in Jan 2009). Forty-two years ago, in December 1968, there were 51 people working full-time in this country for each person collecting disability.

But don’t worry, that was GW Bush’s Fault! like everything else that’s bad about our newly Re-coronated King.

The number of Americans age 16 or older who decided not to work or even to seek a job increased by 8,332,000 to a record 88,839,000 in President Barack Obama’s first term, according to the Bureau of Labor Statistics.

At the same time, the number of retired workers collecting Social Security increased by only 4,234,480.

The increase in Americans opting out of the labor force during Obama’s first term resulted in a decrease in the labor force participation rate from 65.7 percent in January 2009, the month Obama was first inaugurated, to 63.6 percent in December 2012, the latest month reported. Before Obama took office, the labor force participation rate had not been as low as 63.6 percent since 1981, the year President Ronald Reagan took over from President Jimmy Carter.

To be in the labor force a person must either have a job or actively sought one in the previous four weeks.

So I guess those millions of jobs “saved or created” wasn’t that fantastic after all… 🙂

In the comparable period of George W. Bush’s second term, the number of Americans choosing not to participate in the labor force went from 76,808,000 in January 2005 to 80,380,000 in December 2012—an increase of 3,572,000.

But Bush is the spawn of the Devil himself and he caused all of this so this must be a lie told by right wing extremists! Because everyone who is “intelligent” knows that everything in the world went to hell after he was elected. 🙂

President Barack Obama averaged a 49.1 percent job approval during his first term in office, among the lowest for post-World War II presidents, according to a new Gallup poll.

Only Jimmy Carter and Gerald Ford had lower job approval averages in their first terms, Gallup reported. (CNS)

Now that’s good company! 🙂

So 49% approved and 50% voted for him.  And it had been Lower than Carter’s (aka the lowest on record since WWII) in 2011.

Wow! that’s tight. No wonder he ran the dirtiest, nastiest, ugliest smear campaign in probably 150 years.

It was vote for me The Unpopular or Vote for my Opponent — The Evil Rich White Asshole!

And the stupid people fell for it!

When the Bush tax cuts and War on Terror went into effect, the debt as a dollar amount rose, but as a percentage of GDP it remained fairly stable.   It was only when the financial crisis hit that the debt exploded.  So, it’s not mathematically possible that policies that were put into place nearly seven years prior to the debt exploding, could be responsible for its rise.

The left is simply cherry-picking the policies–expenditures in their minds– that it likes the LEAST, from the time prior to Obama taking office and using them to deflect the blame away from things like the stimulus, the growth of welfare spending and the failure of liberal economic policies to stimulate economic growth.

Think about it this way.  The amount of money taken out of the general fund each year to pay for Medicare, Medicaid and Social Security is more than the cost of any one year of the Bush Tax cuts or the was in Iraq and Afghanistan when they were at their peak.

By the left’s standards, you could pin just as much blame for the debt increase on the presidents who passed those entitlement programs.  But, you don’t hear President Obama pinning the blame on LBJ or FDR for the $5 Trillion in new debt that we’ve accumulated since he took office. (CNS)

So in closing, a Little Comedy:

And this is funny:

They are having  a 3/5 sale! 🙂

Now if that doesn’t offend the hyper-sensitive Left I don’t know what will.

I know, George W, Bush!  That always works! 🙂