Showing posts with label CBO. Show all posts
Showing posts with label CBO. Show all posts

Thursday Democrat Party News. Yesterday, the non-partisan CBO told us that ObamaCare is a disincentive to work Today, they are singing a very different tune.

  1. << The Dems hated the CBO in 2011, now, one day they love it,  the next day, back to hate 

  2. Yesterday,  we had this ridiculous spin on the job loss due to ObamaCare    

  3. White House: It's A Good Thing That Obamacare Will Drive 2.5 ...

    www.forbes.com/.../white-house-its-a-good-thing-that-obamacare-...‎

    Forbes
    Feb 5, 2014 - But the CBO wasn't responsible for the most amazing thing that happened yesterday. ... that 2.5 million Americans leaving the workforce was a good thing, because they ... by employers; (2) Obamacare's $1 trillion in tax increases, which will ... at a job because they're afraid of losing the coverage they have.
  4. Yesterday,  they loved the CBO revelations.  But,  

Today (24 hours later),  they hate the report: 


  1. CBO Report: Higher Minimum Wage Could Cost 1 Million Jobs

    www.newsmax.com/Newsfront/cbo...jobs/.../553385‎

    Newsmax Media
    1 day ago - If Obama and his fellow Democrats are successful in pushing the ... CBO Report: Obama's Minimum Wage Plan Could Cost 1 Million Jobs ... According to Tuesday's CBO report, the higher minimum wage rate could ... but estimates a job-lossfigure of around 500,000 — 0.3 percent of the working population. . . . . 
  2. _____
Understand that Democrats are openly critical of the CBO and its conclusions as to job loss because of ObamaCare and,  again,  because of an increase in the minimum wage.

What may have passed over your heads, Dear Reader,  that the two very different views taken by the Democrat Socialist Party reflect their view on the same report.  There is only one CBO report,  here,  covering both issues.  The Dems want to cherry pick the report,  talking out of both sides of their collect mouth (as usual).  

Look, let's be clear: you are lazy if you can work but prefer taking money from me so you can pursue your dream of being a stoner or an artist or a dancer.

<<< This chart comes from the recent CBO report and shows a shocking decline in the labor force well past 2025.  Those who are leaving the labor force to "pursue their dreams" while living off the rest of us,  those jobs will not be filled 

This week, America’s political class has been consumed by an intense, vitriolic debate over a single number: 2.5 million.

That’s the amount by which, according to the Congressional Budget Office, President Obama’s signature health care law will effectively reduce the U.S. work force over the next decade.

The initial Republican reaction was predictable: Pundits filled the airwaves, Cassandra-like, to paint Obamacare as the ultimate job killer. Never mind that, reading the fine print, it’s clear the CBO was talking about workers voluntarily reducing their hours in response to the law—not getting laid off or seeing their shifts scaled back.

Editor's notes:  Apparently "getting laid off or seeing . . . . shifts scaled back  (that is happening,  you know) is a curse while quitting your job because others are subsidizing your health insurance is a good thing.  

And anyway, isn’t that supposed to be a good thing?  Editor: it isn't a good thing if I choose to work to get ahead AND have to subsidizer your laziness, and, again,  you ARE lazy if you are my neighbor,  and taking my hard earned money so you stay home to be a parent to children who are not home but attending school.  

. . . . . .  Then real progress would begin. Humane and moral progress. Instead of perpetual consumerism and the infinite increase in material wealth, we would naturally turn to improving the human condition, learning how to live together “wisely, agreeable, and well,” as Keynes put it. Progress would then take the form of healthier families, communities and cities—the increase of knowledge, the enjoyment of nature, history and other peoples, an increasing delight in the marvels of the human spirit, the practice of our beliefs and values together, the finding of common ground for conviviality, expanding our awareness of God, wondering in Creation.  Editor: lets not forget to add poorer hard working neighbors,  a life living on the dole and passing that tradition on to your children, forgetting about the need to further your schooling since you no longer need to work,  and living a life where "perpetual consumerism" is replaced by perpetual welfare.  Never mind upward mobility - you have sold that off for a stay at home,  stay where you,  life of loafing around the block in order to maintain your health,  now that you have the time do so because you are taking money out of my pocket.  
  
Most Americans approved, counting work reductions as the better half of industrial progress (higher wages and shorter hours). Editor:  actually,  most Americans did not approve,  preferring to work versus living off others' sacrifice and ingenuity.  

No one expected this progress would end. Quite the contrary. Through the last century, observers such as John Maynard Keynes, Julien Huxley, Dorothy Canfield Fisher and Eric Sevareid regularly predicted that soon America would enter an age of leisure in which we would chose to devote more and more of our lives to the “pursuit of happiness” promised in the Declaration of Independence. As technology created “labor-saving” machines and the economy grew, they reasoned, we would gradually be able to buy back more of our time from our jobs, preferring leisure to new goods and services that we had never needed, or even seen before.  Editor:  the professor never gets around to telling the reader that all of this Utopian balther is not possible without a taxation rate (eventually) of 90% for ALL Americans  --  just as soon as the word is out that the industrious among us can earn enough to support all of us.  

These lofty sentiments mixed with the ordinary delights: slow meals together (Ralph Waldo Emerson), conversations in the evening (Henry David Thoreau), dancing the night away (William Ellery Channing), singing in the choir (Jonathan Edwards), “observing a spear of summer grass” (Walt Whitman), reading and talking about books (Robert Hutchins), playing amateur sports (Fannia Cohn) and walking around Central Park in the dead of winter (Elizabeth Hasanovitz). Even Abraham Lincoln believed that the steam plow and other agricultural technologies would free farm workers from steady toil for more opportunities to learn, socialize, govern themselves and pursue happiness.

<<< This chart comes from the recent CBO report and shows a shocking decline in the labor force well past 2025.  Those who are leaving the labor force to "pursue their dreams" while living off the rest of us,  those jobs will not be filled.  If intended as a true projection, the chart shows 10 million folks leaving the workforce by 2025.


Editor’s notes:  It is not a good thing when the very report we are talking about,  the  "CBO"  report framing the 10 year forecast for this nation,  makes the case in the most negative of terms.  Indeed,  folks are no longer incentivized to work.  The argument,  by Libs,  that these abandoned jobs will be filled by those who want to work,  is not supported by the CBO’s report and a simple look at the charts accompanying the report,  proves my point,  especially the chart showing employment projects for the future.

Benjamin Kline Hunnicut is professor of leisure studies at the University of Iowa and author of  The Forgotten American Dream.

Read the full article,  an Utopian fanciful explanation for the job creating failures of the Obama Administration:    http://www.politico.com/magazine/story/2014/02/jobs-leisure-republicans-want-us-to-work-all-the-time-103282.html#ixzz2srkK8CS0


More evidence that the economy is in a failed state per the Obama Administration, itself.


From congressman's Bob Latta's office,  we have this admonition and commentary:



Commentary Posted by Congressman Robert Latta on February 02, 2012

Data reported by POLITICO shows our economy isn't improving. 

• The Federal Reserve has announced it will keep interest rates low through 2014, a sign of its pessimism about the pace of the economic recovery.

Editor's note:  manipulating lower interest rates is an indication of a poor economy,  in and of itself. Healthy or improving economies do not need such "assistance" -  blog editor. 

• The Commerce Department found the nation’s economy grew at a 2.8 percent rate in the fourth quarter of 2011, a faster pace than the rest of the year but worse than expected. If the economic growth slows in the next quarter, it will be tough to keep unemployment down.


Editor's note:  if inventory purchases are excluded from the 4th quarter GDP statement,  the economy grew at the much lesser rate of .07%  -  which is less than a one percent growth rate,  just in case you missed that point  --  blog editor. 

• The Congressional Budget Office projected a wider budget deficit and rising unemployment for the rest of the year, with the jobless rate expanding to 8.9 percent by the end of the year.

• Housing remains a problem. The Case-Shiller index again found that home prices across the country fell 1.3 percent in November from October in its most recent survey. 


Editor's note:  the Case-Shiller Index  is a collection of housing data from 20 designated cities.  In 19 of the the 20,  prices fell,  this November  (the most recent report)  - blog editor

The House is passing bills to spur the economy and help create jobs but the Senate and White House aren't supporting our efforts. Help us pass these bills by contacting your Senator. 


Posted by Latta on February 01, 2012

On February 1, 2009, President Obama said when speaking on the economy, “If I don’t have this done in three years, then there’s going to be a one-term proposition.” 

Three years later, the results couldn’t be clearer. The failed policies and broken promises of the President’s trillion-dollar stimulus have made things worse. As the chart below illustrates, the policies of the Obama Administration have left Americans worse off now than before Obama took office. 


Key to reading the above chart:  understand that the first line,  the lower line on the chart,  is one drawn by Christina Romer and  Jared Bernstein sometime during the 2007-2008 season.  You can find the original chart (without the "actual unemployment rate" [red] ) in the embargoed report,  found here.  and dated "January 9, 2009,"  11 days before Obama's inauguration.  

Per this chart,  Obama projected a 6.7% unemployment rate by the end of the 1st quarter of 2012, and the "first quarter" is now.  


Watch for more on this matter,  but I am working on research documenting Obama's effort at dealing with the economy two years before his election.  Romer and Bernstein were must two of several dozen individuals and agencies either working on his "hit the ground running" strategy or being consulted with regards to this effort.  The 787 Stimulus was already written before he was sworn into office.  That is why it took just 27 days to publish the Stimulus and sign it into law - less than a month after taking office. 


Amazing.  Two stinking years of hard work and the Stimulus failed within six months of its passage.  And this guy wants a second term?!!

Congressional Budget Office talks about 2012 - not good for re-election purposes


Continuing Annual Debt Increase
The CBO set the annual debt for 2012 at 1.1 trillion taking the average annual debt,  under Obama, down to 1.4 trillion (per year).  Under Bush,  the previous record holder, average annual debt was $400 billion.  Understand that the four year plan,  from this administration, called for a $600 billion in deficit for 2012 ($800 billion for 2011).  

Unemployment/Employment 
Further,  the CBO sees unemployment at 8% or above through all of 2012.  We tend to forget that under Bush,  unemployment averaged 5.5% for the eight year term including the recession laden 2008 . . . . . . . 4.7% without 2008 numbers.  We are in the fifth year of this recessionary period and Obama continues to act as if his social agenda,  moving this country into an European style form of governance,  is more important than dealing the recession.  

Housing
Housing prices have declined in value,  during this period (actually since 2006)  by 33% and Obama's mortgage rescue plan has failed.  Designed to give aid to 7 million troubled homeowners,  less than 400,000 were benefited.   And the beat goes on.  With latest totals,  end of year (2011) mortgage prices declined another 1.3% according to the S&P / Case Shiller 20 city index.  Prices on that index fell in 19 of the 20 cities studied.  Phoenix, Arizona was the lone exception.  Chicago,  Atlanta and Detroit are the hardest hit by the mortgage crisis.  


Update:  


True unemployment:   According to the CBO,  if we included the same size workforce as two years ago (the Obama Administration has reduced down the size of the workforce),  the 8.5% unemployment rate reported for December of 2011 would actually be 10%.


Taxes are scheduled to increase by more than 30% over 2012 and 2013. 


GDP (the measure of our economic expansion) will be 2.2% for 2012  (it was 1.7% for the entire of 2011),  and just 1.0 % for 2013, the year that ObamaCare rises to full force as a forced law


End Notes: 

CNN Business News 1/31/2012