Summer of Recovery Results Are In

The latest “Summer of Recovery” under Obamanomics is in…

A record 92,269,000 Americans 16 and older did not participate in the labor force in August, as the labor force participation rate matched a 36-year low of 62.8 percent, according to the Bureau of Labor Statistics.

The labor force participation rate has been as low as 62.8 percent in six of the last twelve months, but prior to last October had not fallen that low since 1978.

BLS employment statistics are based on the civilian noninstitutional population, which consists of all people 16 or older who were not in the military or an institution such as a prison, mental hospital or nursing home.

In August, the civilian noninstitutional population was 248,229,000 according to BLS. Of that 248,229,000, 155,959,000—or 62.8 percent–participated in the labor force, meaning they either had or job or had actively sought one in the last four weeks. The 92,269,000 who did not participate in the labor force are those in the civilian noninstitutional population who did not have a job and did not actively seek one in the last four weeks. Because they did not seek a job, they did not count as “unemployed.”(CNS)

Remember kiddies, the “unemployment rate” is a lie. It only counts people actively looking.

Also, now Americans are seeing the real cost of ObamaCare health care subsidies. Employer mandates are not much good to working families if no one in the family is working.

The official jobless rate is down to 6.1 percent but real unemployment is closer to 18 percent, because so many prime aged adults are sitting out the party. For example, one in six adult males between the ages of 25 and 54 has no job, and may have simply quit looking thanks to “compassionate” government policies that reward able bodied men and women to sit at home and watch ESPN NFL reruns or The View.

Since 2000, Congress has beefed up the earned income tax credit, and expanded programs providing direct benefits to low and middle income workers, including ObamaCare and Medicaid, food stamps, and rent and mortgage assistance.

Those buy votes but do little to encourage work.

Benefits phase down as family incomes rise, and often tax additional income as much as 50 percent. Consequently, government benefits penalize work and encourage one partner in two adult households to be idle.

Also, those programs offer incentives for single people to work only part-time and contribute to skills shortage.

With millions of young college graduates unable to land a professional job and start a career, the president has implemented irresponsible federal student loan policies. And unscrupulous university presidents exploit young people by peddling graduate programs that promise rewarding careers but only deliver a lifetime of debt.

But hey, work at McDonalds for $15/hr, we promise… 🙂

Student loans take disgruntled college graduates off the streets, lower the official unemployment rate and deliver electoral majorities for Democrats but undermine future growth. Simply, too many folks in their late 20s are stuck in dead end jobs, burdened with crippling debt and unable to buy a home or comfortably start families.

The root cause of the jobs crisis is chronically anemic growth, whose sources candidate Obama promised to address in 2008 but has forgotten.

These include the purposefully undervalued Chinese and Japanese currencies, which cheapen imports, siphon off demand for American-made products and destroy factory jobs; federal restrictions on offshore oil and gas development, which unnecessarily perpetuate U.S. oil imports and finance terrorism; business regulations more burdensome than necessary to accomplish worthy objectives, which create prestigious jobs for political supporters and create monopolies for campaign contributors; and a tax structure ranked one of the worst in the world for encouraging sound business decisions and supporting international competitiveness.

A second term president should be a statesman looking to the long-term security and prosperity of the American people.

Instead, Obama continues to campaign, blames his predecessor and congress for his disappointments, and will leave Americans poorer and less safe in the bargain. (TF)

In other words, NOTHING HAS CHANGED. The Ideological train has not come out of it’s tunnel.

The Agenda is still the Agenda. Regardless.

Political Cartoons by Chip Bok

Political Cartoons by Michael Ramirez

Political Cartoons by Larry Wright

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

 

Working Hard

This is liberal “comedy”: http://www.truthrevolt.org/news/obama-skips-self-deprecation-lashes-out-republicans-vicious-whca-dinner-monologue

Oh, and it’s Cinco De Mayo, so if you’re white, wear an American Flag Shirt today and piss off the leftist Latinos!  or get your kid thrown out of school for being “insensitive”. 🙂

Harry Reid, the Senate majority leader from Nevada, released a statement about the formation of a select committee in the House of Representatives to investigate the federal government’s response to the 2012 terrorist attack in Benghazi, Libya. In his statement, Reid criticized the Republican party for having “nothing to offer the middle class.” Reid also mentioned the Koch brothers.

Here’s the full statement:

Republicans are showing yet again that they have nothing to offer the middle class. Republicans care more about defending billionaires like the Koch brothers and trying to rekindle debunked right-wing conspiracy theories than raising the minimum wage or ensuring women receive equal pay for equal work.

There have already been multiple investigations into this issue and an independent Accountability Review Board is mandated under current law. For Republicans to  waste the American people’s time and money staging a partisan political circus instead of focusing on the middle class is simply a bad decision. While Republicans try to gin up yet another political food fight, Senate Democrats will remain focused on fostering economic growth for all hard-working Americans.

This them “working” for you…

On the surface, both the payroll and the household survey reported good news. Employers added a net 288,000 payroll jobs while the unemployment rate fell by 0.4 percentage points. April experienced the fourth largest growth in payroll jobs and ties for the largest drop in unemployment since the recession began in 2008—very welcome news for struggling workers.

However, this large drop in unemployment occurred because of an enormous number of Americans simply giving up looking for work. In April, an estimated 800,000 Americans simply left the labor market. As a result, the labor force participation rate dropped back to 62.8 percent—tied for the lowest rate since the 1970s. Fewer prospective workers, not more jobs, caused the decline in unemployment.

This is them “working”. 🙂 After all the unemployment rate continues to drop so they must be doing a good job right? 🙂

Further, the largest decreases in unemployment came among younger workers—not prime-age adults. Three-fifths of the total reduction in unemployment occurred among those aged 16 to 24. So while the overall unemployment rate fell by 0.4 percentage points, it only fell 0.2 percentage points among those 25 and older. Much of the statistical improvement in April came from teenagers and young adults dropping out of the labor force.

This is them “working” for you… 🙂

Great news that 288,000 payroll jobs were created in April and the unemployment rate fell to 6.3% — the lowest since 2008. Sadly, that’s not the whole job picture.

You know things are bad when you gauge your progress by a decline in unemployment back to where it was in the middle of the last recession.

We’re happy that businesses, following a freezing winter, began adding to payrolls again in April. But the broader employment picture remains deeply troubling.

Start with April’s 288,000 new payroll jobs, a number that comes from surveying businesses. Impressive, until you consider that a broader job survey of households shows a decline of 73,000 jobs in April.

Then there’s the labor participation rate — perhaps the broadest gauge of demand for workers. That fell 0.4 percentage point to 62.8%, an all-time low.

And, no, contrary to what some say, it wasn’t due to baby boomers retiring. It’s because 806,000 people left the labor force last month.

Overall, the job picture isn’t pretty.

Some 7.5 million Americans worked part-time last month for economic reasons. An additional 2.2 million were “marginally attached to the labor force” — looking for, but not finding, jobs. Of these, 783,000 were “discouraged,” meaning they’d given up looking for work.

When you add these people into the mix, you get the U6 unemployment rate. That gauge now stands at 12.3%, down from a high of 17.1% in 2010 and the lowest level since early in the last recession.

But even during the Bush recovery — one we were repeatedly told by the left was the “worst since the Depression” — U6 unemployment never got above 10.4%.

And by the way, none of these numbers has improved much, if at all, over the past year. If anything, the slack in the labor force is getting worse.

In April, 93 million adults were “not in the labor force,” a record and a gain of 2.2 million since last year. That’s a lot of people not working. Put a bit differently, for each person not in the labor force, just 1.3 people are working full-time. That, too, is a record low.

So the real unemployment picture is disastrous. And it’s that way because of bad policies that have prolonged Americans’ misery and hobbled our economy.

The president and his Democratic allies in Congress own this job recession. The only remedy for such policy incompetence comes at the ballot box. (IBD)

Political Cartoons by Bob Gorrell

The Obama Index

Wall Street adviser: Actual unemployment is 37.2%, ‘misery index’ worst in 40 years

Don’t believe the happy talk coming out of the White House, Federal Reserve and Treasury Department when it comes to the real unemployment rate and the true “Misery Index.” Because, according to an influential Wall Street advisor, the figures are a fraud.

In a memo to clients provided to Secrets, David John Marotta calculates the actual unemployment rate of those not working at a sky-high 37.2 percent, not the 6.7 percent advertised by the Fed, and the Misery Index at over 14, not the 8 claimed by the government.

Marotta, who recently advised those worried about an imploding economy to get a gun, said that the government isn’t being honest in how it calculates those out of the workforce or inflation, the two numbers used to get the Misery Index figure.

“The unemployment rate only describes people who are currently working or looking for work,” he said. That leaves out a ton more.

If Obama gets you to give up completely and go on government assistance then you are no longer “unemployed” by the statistics definition.

We “added” 74,000 jobs and the unemployment rate dropped. But the labor participation rate (in the workforce) drop to it’s lowest level in 35 years. Jimmy Carter and “malaise” was king the last time it was this bad.

But the left will only tout the first 2, without any context because that makes them look good.

So more people give up than get a job, but he looks like a hero “of the people”.

Neat, Huh! 🙂

“Unemployment in its truest definition, meaning the portion of people who do not have any job, is 37.2 percent. This number obviously includes some people who are not or never plan to seek employment. But it does describe how many people are not able to, do not want to or cannot find a way to work. Policies that remove the barriers to employment, thus decreasing this number, are obviously beneficial,” he and colleague Megan Russell in their new investors note from their offices in Charlottesville, Va.

They added that “officially-reported unemployment numbers decrease when enough time passes to discourage the unemployed from looking for work. A decrease is not necessarily beneficial; an increase is clearly detrimental.”

Then there is the Misery Index, which is a calculation based in inflation and unemployment, both numbers the duo say are underscored by the government. He said that the Index doesn’t properly calculate how Uncle Sam is propping up the economy with bond purchases and other actions.

“These tricks, along with a host of other dubious accounting schemes, underreport inflation by about 3 percent,” they wrote, adding that the official inflation rate is just 1.24 percent.

“Today, the Misery Index would be 7.54 using official numbers,” they wrote. But if calculations tabulating the full national unemployment including discouraged workers, which is 10.2 percent, and the historical method of calculating inflation, which is now 4.5 percent, ‘the current misery index is closer to 14.7, worse even than during the Ford administration.”

So don’t worry, be happy. Everything is fine. Take a hit of your chooma and just relax, man. Barry and Kathleen will take care of you!

Political Cartoons by Lisa Benson

Political Cartoons by Eric Allie

Recovery Summer IV Results

Economy: After his embarrassing failure on the foreign policy front, President Obama decided to tout his success managing the U.S. economy — just as the historically weak recovery shows fresh signs of weakening further.

In a speech marking the fifth anniversary of the Lehman Bros. collapse, Obama ticked off a laundry list of alleged accomplishments since taking office: I stopped another Great Depression, saved the auto industry, put people to work, etc.

“We cleared away the rubble from the financial crisis,” he said, “and we’ve begun to lay a new foundation for economic growth and prosperity.”

Unfortunately, it’s a foundation built on quicksand.

Just last week we learned that retail sales have softened, consumer sentiment hit a five-month low, job growth in August was still tepid and the number of job losers posted its biggest jump since 2010.

All are signs the economy isn’t going to live up to expectations in the final months of the year.

This comes after 50 months of sluggish growth that has left 4.3 million out of work long-term, helped drive 10 million out of the job market, pushed the labor participation rate to 35-year lows, boosted food stamp rolls by 14 million and pushed nearly 3 million into poverty.

Just 13 states have employment rates above their pre-recession peaks (all but four of them, by the way, voted against Obama in 2008).

Thanks to Obama’s sluggish growth, real median household income remains 4.4% below where it was when his “recovery” started.

The day Obama gave his remarks, the AP reported that the unemployment rate among low-income families is at Great Depression levels of 21%, but among upper-income households it’s 3.2%. That, AP’s analysis found, is the widest gap on record.

AP also found that middle-income workers are increasingly ending up with lower-wage jobs, forcing lower-skilled workers out of the job market.

Meanwhile, a survey out of the University of Chicago finds that a record 8.4% of Americans consider themselves “lower class.”

Here’s another way to look at it: Had Obama’s recovery merely been average, there would be 7.4 million more people gainfully employed today, and the economy would be $1.3 trillion bigger.

Even the left is noticing that, despite Obama’s endless blather about building prosperity from the ground up, his recovery has had the opposite effect — concentrating whatever gains there have been at the top.

The Huffington Post called it “the most uneven recovery in at least several decades” — which would include the Reagan, Clinton and Bush recoveries.

Among the evidence presented: Workers in the bottom 20% have seen their real average hourly wages decline steadily under Obama, compared with gains at the very top. And while 60% of the jobs lost in the recession paid mid-wages, only 22% of the jobs gained in Obama’s recovery did so.

Incredibly, amid all this, Obama claims to see “progress across the board.”  Then again, Obama thinks his foreign policy adventures have been a success, too. (IBD)

“Are some of these folks really so beholden to one extreme wing of their party that they’re willing to tank the entire economy just because they can’t get their way on this issue?” Obama said in a speech at the White House. “Are they really willing to hurt people just to score political points?” (Townhall)

WELL, we know HE IS. He’s been doing it for 5 years now! 🙂

Obama conceded the problems. “As any middle class family will tell you or anybody who’s striving to get in the middle class, we are not yet where we need to be,” he said.

And never will be, with Progressives in charge because they depend on making people poor and dependent on them and making rich people less rich and demonic to keep them them there.

“After all the progress that we’ve made over these last four and a half years, the idea of reversing that progress because of an unwillingness to compromise or because of some ideological agenda is the height of irresponsibility,” Obama said.

Which is why he won’t compromise on anything that has been done or will be done. But he’s not ideologically rigid… 🙂

After all, it’s “Congress” (Read: Republicans) Fault!

He’s not partisan. 🙂

Political Cartoons by Gary Varvel

Political Cartoons by Steve Kelley

Political Cartoons by Michael Ramirez

 

 

Dependency

Another month of high expectations for jobs, another month of deep disappointment. How long does this lackluster performance have to go on before we recognize its true cause?

Some economists and pundits viewed the 169,000 new jobs created in August as confirmation of a continuing modest rebound in job growth that’s now underway.

They’re wrong. In fact, the data are far worse than they appear. Not only did the actual number of jobs come up short, but June and July totals were revised down by 74,000. Recovery summer, anyone?

Other data in the jobs report show similar weakness:

• Some 90.5 million Americans are now out of the labor force, with almost a third of a million leaving in July alone and nearly 10 million workers departing since Obama took office. Meanwhile, 115,000 fewer Americans were employed in August than in July.

• The “good news” of a dip in unemployment from 7.4% in July to 7.3% in August turns out to be a mirage. It was due to a decline of 312,000 in the workforce. Without that, joblessness would have risen to 7.5%.

• Add the number of unemployed to part-timers who want full-time work and those who have given up looking, then the real unemployment rate is 13.7%.

• At 63.2%, the labor force participation rate is now at the lowest since 1978. And the 69.5% for men is an all-time low.

• Unemployment among blacks, Obama’s most loyal supporters, rose to 13% from 12.6%.

• Job growth over the last six months has averaged 160,000 a month. At this rate, it’ll take until mid-2024 to return to 2007’s pre-recession level.

We’ve heard all the excuses.

Republicans — who controlled nothing for the first two years of Obama’s presidency and just one branch of the legislature ever since — are somehow to blame.

Or the minuscule cuts in the budget “sequester” killed growth by slashing government spending.

Or the Fed’s plan to “taper” its quantitative easing program from buying $85 billion a month in federal debt to just $65 billion or so is the villain.

Or “Wall Street bankers” just refuse to lend.

You get the idea. It’s always somebody or something else to blame — never the foolish, extreme policies of President Obama and his Democrat allies in Congress, who have systematically set about dismantling what was once the world’s most dynamic growth engine.

Americans bought into the idea that President Obama was a victim of extraordinary circumstances, not of his own incompetence. He won a second term.

They’re now finding out in a variety of areas — the economy, health care, foreign affairs, race relations, to name just a few — how very wrong they were.

What ails this economy is no secret. Higher tax rates on entrepreneurs, ObamaCare, a regulatory siege, soaring government debt and record spending have all hurt.

Our vibrant economy could be restored if we addressed those problems, one by one. But that can only happen if Americans demand an end to the status quo.(IBD)

With the latest numbers out this week from the Bureau of Labor Statistics stating that over 90 million people are out of the work force, I would say that the White House is well on its way to fulfilling its Cloward and Piven dream.

One of the main objectives to lead us down the path to a “socialist utopia” is to collapse the welfare system, cause a crisis and then have the government come in and change us into a communist republic.  Yes, I said it.

Over the past five years, Barak Obama has “fundamentally transformed America” and we have the statistics.  Here are a few of his accomplishments:

1.  As of this week, there are a record number of Americans out of the work force.

2.  There are a record number of Americans on food stamps.

3.  There are a record number of Americans on disability.

4.  There are a record number of Americans working part-time.

5.  The unemployment rate for black youth in July was more than 46%.

6.  Obama has succeeded in hurting the people who voted and supported him the most.  Women, minorities and the young.

With the dismal statistics this week it is transparently obvious that we are headed in the wrong direction.  There is no recovery and no matter how they want to spin it, there isn’t one on the way.  Not with Obamacare and a pending war with Syria on the horizon.

Let’s go back to August of 2008.  Back then, before the collapse of the financial markets and the beginning of the Great Recession, the participation rate for the work force was 66.1%.  Last month the rate dropped to 63.2%.  That is almost 3 points lower than it was five years ago.  If the participation had stayed the same over the past five years the unemployment rate would not be the number that was released last week of 7.3%.  With a working age population that would have grown by about 10 million the real unemployment rate would be at least 9.7% or possibly even higher.

This administration can spin it all they want.  They make excuses for the lower participation rate by saying that it is due to “Baby Boomers” retiring and women not as active in the work force as they once were.  I say that is all smoke and mirrors. 

With the entitlements that are being offered, more and more people are opting out of trying to find a job.  With jobs being scarce and only part time work being offered, it is very enticing to sign up for an EBT card, go on disability and take full advantage of what the government is handing out. In some places, like Hawaii, you can receive as much as $60,590 a year from government benefits!

This kind of behavior is what Obama and liberals are depending on. Their goal is government dependency. They want as many people as possible to be on the government dole so that eventually the system collapses under its own weight.  We are heading in that direction and now with Obamacare, the train is barreling out of control.

Why do we not have more than just a few lonely voices in Washington calling this administration out on all of this?  Are they just so afraid of standing up to Obama that they would rather see our country go down the drain?  Many in Congress have constituents who are screaming for help and getting silence or recorded voicemail messages as an answer. 

They need to hear us.  WE NEED JOBS.  WE NEED TO DEFUND OBAMACARE.  WE NEED TO SECURE THE BORDER and WE NEED TO STAY OUT OF THE MIDDLE EAST CONFLICTS.  Pretty simple. 

What we really need is a leader with America’s interests at heart.

Morgan Brittany

But he’s Barack Hussein Obama, The Most Arrogant Man in the World…

Political Cartoons by Ken Catalino

Political Cartoons by Henry Payne

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