Tag Archives: Borrowing

News

73% of the new jobs created in the last 5 months were government jobs

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From CNS News.

Excerpt:

In June, a total of 142,415,000 people were employed in the U.S, according to the BLS, including 19,938,000 who were employed by federal, state and local governments.

By November, according to data BLS released today, the total number of people employed had climbed to143,262,000, an overall increase of 847,000 in the six months since June.

In the same five-month period since June, the number of people employed by government increased by 621,000 to 20,559,000. These 621,000 new government jobs created in the last five months equal 73.3 percent of the 847,000 new jobs created overall.

How is it possible that the unemployment rate is going down? It’s simple. The government is borrowing over $1 trillion dollars a year from unborn and born children, and they are using that money to reduce the unemployment rate.

That explains part of the drop in unemployment, but there’s more.

Excerpt:

As for that big “drop” in the unemployment rate, all of it was due to the fact that 540,000 Americans are no longer looking for work. They either dropped out, took early disability or retired. Since the start of 2009, 9.7 million Americans have fallen into this category.

All told, more than 24 million Americans who want jobs don’t have them, driving the labor force participation rate to 63.6%, just above August’s 31-year low of 63.5%. This is the worst labor market in a recovery ever.

And it may get worse. The quarterly Wells Fargo/Gallup small-business survey found that 21% plan to cut jobs over the next six months — a surge from 10% last June and a record high.

IBD’s own research shows that small businesses account for nearly 80% of all new job creation in America. A small-business slump means no jobs. It’s that simple.

Business are already being regulated to death by Obamacare, and all this deficit spending means borrowing that has to be paid back with inflation or higher taxes. Why on Earth would anyone try to hire people now? This economy is a wreck.

News

Half of all Americans live in households that get government handouts

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From the Wall Street Journal.

Excerpt:

49.1%: Percent of the population that lives in a household where at least one member received some type of government benefit in the first quarter of 2011.

Cutting government spending is no easy task, and it’s made more complicated by recent Census Bureau data showing that nearly half of the people in the U.S. live in a household that receives at least one government benefit, and many likely received more than one.

The 49.1% of the population in a household that gets benefits is up from 30% in the early 1980s and 44.4% as recently as the third quarter of 2008.

[…] As of early 2011, 15% of people lived in a household that received food stamps, 26% had someone enrolled in Medicaid and 2% had a member receiving unemployment benefits. Families doubling up to save money or pool expenses also is likely leading to more multigenerational households. But even without the effects of the recession, there would be a larger reliance on government.

The Census data show that 16% of the population lives in a household where at least one member receives Social Security and 15% receive or live with someone who gets Medicare. There is likely a lot of overlap, since Social Security and Medicare tend to go hand in hand, but those percentages also are likely to increase as the Baby Boom generation ages.

[…]The more people who receive benefits, the harder it’s going to be to make cuts, and it’s never popular to raise taxes. In some respects that argues for letting a combination of tax increases and spending cuts that is set to automatically hit in 2013 take effect. There’s just one problem: the Congressional Budget Office says it would sink the economy into recession.

All of this dependence on the government is not good for us. How can we compete with the rest of the world when we just sitting around borrowing money from our kids and spending it?

Videos

Paul Ryan takes Obama’s State of the Union speech apart

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Budget hawk Paul Ryan on Fox News Sunday.

Snippet 1:

“The irony of this is the president’s policies do the exact opposite.  We basically have this. The president can’t run on his record. It’s a miserable record. He is not going to change his tune and moderate like say Bill Clinton did in 1996 because he’s really stuck with his ideology so he has no choice but to divide. So he is going to run a very decisive campaign for political gain and he has this concept of fairness and equality where he uses the kind of rhetoric we use, but the policies he’s producing will result in crony capitalism will result in more power in the government to supervise our lives, to give us a stagnant economy where the rich and the powerful are the ones who are picking it. So what I’m trying to say is he is giving us a future of debt, doubt, and decline. “

And snippet 2:

“The president isn’t leading. The president isn’t truthful with the American people about what kind of fiscal train wreck is coming, we’re going to be. And we’ll pass budgets to show the country exactly how we propose to fix the problem. You know the thing that is frustrating about this, Chris, is there is an emerging bipartisan census on fixing these big problems. There are Democrats who do agree with us on how to do tax reform. Get the loopholes out, lower the rates. We’re getting a bipartisan consensus on Medicare reform. The problem is the president and his party leader are out on the left standing on the sidelines looking in. So what we clearly need is a new White House and a new Senate and then we can realize this emerging bipartisan consensus on how to fix these problems”.

It’s good that we have Paul Ryan to respond to Obama’s rhetoric.

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