Category Archives: ObamaCare

Janet Yellen millennials a mystery, Citizen Wells schools Yellen, Student debt and jobs, Influx of illegals impacting job market, 75 percent of Obama jobs went to Hispanics Latinos, High unemployment rates for young Americans

Janet Yellen millennials a mystery, Citizen Wells schools Yellen, Student debt and jobs, Influx of illegals impacting job market, 75 percent of Obama jobs went to Hispanics Latinos, High unemployment rates for young Americans

“Of the approx. 6 million new employments since Obama took office in January 2009, 4,511,000, 75 percent, were Hispanic/Latino!”…Citizen Wells

“In today’s labor market, there are nearly 1 million “missing” young workers—potential workers who are neither employed nor actively seeking work (and are thus not counted in the unemployment rate) because job opportunities remain so scarce. If these missing workers were in the labor market looking for work, the unemployment rate of workers under age 25 would be 18.1 percent instead of 14.5 percent.”…Economic Policy Institute May 1, 2014

“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″

 

 

Janet Yellen testified before congress today, February 24, 2015.

“Current Economic Situation and Outlook

Since my appearance before this Committee last July, the employment situation in the United States has been improving along many dimensions. The unemployment rate now stands at 5.7 percent, down from just over 6 percent last summer and from 10 percent at its peak in late 2009. The average pace of monthly job gains picked up from about 240,000 per month during the first half of last year to 280,000 per month during the second half, and employment rose 260,000 in January. In addition, long-term unemployment has declined substantially, fewer workers are reporting that they can find only part-time work when they would prefer full-time employment, and the pace of quits–often regarded as a barometer of worker confidence in labor market opportunities–has recovered nearly to its pre-recession level. However, the labor force participation rate is lower than most estimates of its trend, and wage growth remains sluggish, suggesting that some cyclical weakness persists. In short, considerable progress has been achieved in the recovery of the labor market, though room for further improvement remains.

At the same time that the labor market situation has improved, domestic spending and production have been increasing at a solid rate. Real gross domestic product (GDP) is now estimated to have increased at a 3-3/4 percent annual rate during the second half of last year. While GDP growth is not anticipated to be sustained at that pace, it is expected to be strong enough to result in a further gradual decline in the unemployment rate. Consumer spending has been lifted by the improvement in the labor market as well as by the increase in household purchasing power resulting from the sharp drop in oil prices. However, housing construction continues to lag; activity remains well below levels we judge could be supported in the longer run by population growth and the likely rate of household formation.”

http://www.federalreserve.gov/newsevents/testimony/yellen20150224a.htm

From CNN February 24, 2015.

“Janet Yellen: Millennials are a mystery”

“Millennials are a bit of a mystery to Janet Yellen.

The head of the U.S. Federal Reserve said Tuesday that the behavior of millennials — which typically refers to a generation of people born in the 80s and 90s — has top economists scratching their heads.

“I think we’re just beginning to understand how the millennials are behaving,” Yellen said before the Senate Banking Committee. “They’re certainly waiting longer to buy houses; to get married. They have a lot of student debt. They seem quite worried about housing as an investment. They’ve had a tough time in the job market.”

As the economy continues to gain strength, Yellen said she expects more millennials to buy homes and start families. “But,” she quipped, “we’ve yet to really see how this is going to affect that generation.””

Read more:

http://www.cnn.com/2015/02/24/politics/janet-yellen-capitol-hill-preview/index.html?iid=EL

“top economists scratching their heads.”

Janet Yellen apparently does not have a firm grasp of the impact of the economy on millennials.

Chief economist at Goldman Sachs, Jan Hatzius must not either.

Several weeks ago I corrected his statement about baby boomers impacting the drop in the percent of the population employed.

https://citizenwells.wordpress.com/2015/02/08/economist-jan-hatzius-baby-boomer-impact-debate-with-citizen-wells-drop-in-percent-of-population-working-email-debate-both-agree-not-enough-jobs-2-percent-allegation-in-cnbc-interview/

The problem with the percent of population employed is the increase of people over 16 in this country.

The US Labor Dept. states that we have approx. 15.5 million more since January 2009.

Those turning 16 each year netted by those dying adds approx. 1.5 million a year which totals 9 million since 2009.

From The Daily Caller February 23, 2015.

“But Obama has used his power over the immigration agencies to minimize enforcement of immigration laws. Since 2009, Obama’s senior deputies have repeatedly instructed his immigration agencies to reduce enforcement of immigration laws. For example, since 2009, his aides have given work-permits and temporary residency to 4.7 million migrants, including illegal immigrants, tourists, guest-workers and students.

That 4.7 million is in addition to the annual inflow of 1 million legal immigrants. Roughly 4 million American youths enter the workforce each year.”

Read more:

http://dailycaller.com/2015/02/23/federal-judge-new-illegal-immigrants-must-be-released/

So, there you have it.

At least 9 million native born Americans being added to the labor force and immigrants taking native born American jobs.

There was an increase of over 12 million not in the labor force since Obama took office.

The youngest members of the workforce, 16 and above will be hit the hardest by immigrant workers.

And all of those jobs that Obama bragged about and Janet Yellen and others referred to….

Of the approx. 6 million new employments since Obama took office in January 2009, 4,511,000 were Hispanic/Latino!

We have barely, if at all,  recovered all of the jobs lost during the recession and 75% of the job growth went to Hispanic/Latinos!!

There were approx. 1.8 more people employed in the last 6 months. 50 percent of those, approx. 900,000, were Hispanic/Latino.

From CNS News February 17, 2015.

“Census Bureau: 30.3% Millennials Still Living With Their Parents”

Read more:

http://www.cnsnews.com/news/article/ali-meyer/census-bureau-303-millennials-still-living-their-parents

From the Economic Policy Institute May 1, 2014.

“This paper’s title, The Class of 2014, is admittedly something of a misnomer, as we do not yet know the labor market outcomes of these soon-to-be graduates. However, the outcomes of recent high school and college graduates provide a good sense of the labor market conditions the young men and women graduating this spring will face. This briefing paper examines the labor market that confronts young graduates who are not enrolled in further schooling—specifically, high school graduates age 17–20 and college graduates age 21–24. We look at young graduates who are not enrolled in further schooling in an attempt to focus as closely as possible on the labor market outcomes of those who are starting their careers. ”

“Key findings include:”

  • “In today’s labor market, there are nearly 1 million “missing” young workers—potential workers who are neither employed nor actively seeking work (and are thus not counted in the unemployment rate) because job opportunities remain so scarce. If these missing workers were in the labor market looking for work, the unemployment rate of workers under age 25 would be 18.1 percent instead of 14.5 percent.
  • Unemployment and underemployment rates among young graduates are improving but remain substantially higher than before the recession began.
    • For young college graduates, the unemployment rate is currently 8.5 percent (compared with 5.5 percent in 2007), and the underemployment rate is 16.8 percent (compared with 9.6 percent in 2007).
    • For young high school graduates, the unemployment rate is 22.9 percent (compared with 15.9 percent in 2007), and the underemployment rate is 41.5 percent (compared with 26.8 percent in 2007).
  • Overall unemployment rates of young graduates mask substantial disparities in unemployment by race and ethnicity. The unemployment rates of blacks and Hispanics are substantially higher than the unemployment rates of white non-Hispanics, for both young high school graduates and young college graduates.
  • The large increases since 2007 in the unemployment and underemployment rates of young college graduates, and in the share of employed young college graduates working in jobs that do not require a college degree, underscore that the current unemployment crisis among young workers did not arise because today’s young adults lack the right education or skills. Rather, it stems from weak demand for goods and services, which makes it unnecessary for employers to significantly ramp up hiring.
  • The long-run wage trends for young graduates are bleak, with wages substantially lower today than in 2000. Since 2000, the real (inflation-adjusted) wages of young high school graduates have dropped 10.8 percent, and those of young college graduates have dropped 7.7 percent.
  • The erosion of job quality for young graduates is also evident in their declining likelihood of receiving employer-provided health insurance or pensions.
  • Graduating in a bad economy has long-lasting economic consequences. For the next 10 to 15 years, those in the Class of 2014 will likely earn less than if they had graduated when job opportunities were plentiful.”

Read more:

http://www.epi.org/publication/class-of-2014/

 From Market Watch February 18, 2015.

“High student debt equals fewer home buyers”

“Going to college usually leads to better jobs and better pay, but it’s also left many people dangerously in debt and unable to buy a house years after they leave school.

A pair of reports in the past two days illustrate the point. The percentage of student loans at least 90 days overdue rose to 11.3% from 11.1% in the final three months of 2014, the New York Federal Reserve said Tuesday.

While delinquencies have fallen from a record 11.8% in 2013, they are still almost twice as high as they were 10 years earlier.

Then on Wednesday the government reported that construction of new homes fell slightly to a 1.06 million annual pace in January. While sales have been rising gradually, they still aren’t increasing nearly as fast as expected almost six years into an recovery. And the percentage of buyers purchasing their first home is still unusually low.

In a fully functioning economy, housing starts should be running around 1.4 million to 1.8 million a year, analysts estimate.

Clearly the weight of student loans is too heavy for many young people to buy a single-family home. Many can’t qualify for a loan in an era of tougher lending standards or afford the monthly cost of a mortgage.”

Read more:

http://www.marketwatch.com/story/high-student-debt-equals-fewer-home-buyers-2015-02-18

Janet Yellen, which part of the millennial reality do you not understand???

 

 

 

 

 

 

Q4 GDP boosted by Obamacare spending, Obama lies economy dies, Market Watch orwellian version vs Zero Hedge reality, Healthcare largest expenditure, Economy in ruins as food stamp usage soars for labor force dropouts

Q4 GDP boosted by Obamacare spending, Obama lies economy dies, Market Watch orwellian version vs Zero Hedge reality, Healthcare largest expenditure, Economy in ruins as food stamp usage soars for labor force dropouts

“two-thirds of the “boost” to final Q3 personal consumption came from, drumroll, the same Obamacare which initially was supposed to boost Q1 GDP until the “polar vortex” crashed the number so badly, the BEA decided to pull it completely and leave this “growth dry powder” for another quarter. That quarter was Q3.”…Zero Hedge December 23, 2014

“One of the CBO’s most intriguing estimates is that by 2017 there will be 2 million fewer full-time jobs on the market than there would have been without Obamacare, and that figure could climb to 2.5 million by 2024.”…Market Watch February 4, 2014

“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″

 

 

The fourth quarter GDP was lower than forecast at 2.6 percent.

It would have been lower without the higher costs of healthcare brought on by Obama and Obamacare.

Here is the Orwellian spin from Market Watch.

“The U.S. economy slowed a bit more than expected in the fourth quarter after expanding at the fastest pace in eleven years during the fall, according to data released Friday.

Gross domestic product — the value of all goods and services produced by the U.S. — grew at a 2.6% annual clip in the fourth quarter, the government said Friday. That’s below the 5.0% pace recorded in the July-September period.

Economists polled by MarketWatch forecast GDP would grow by a seasonally adjusted 3.2% in the October-to-December period.”

“Consumer spending was a major positive in the fourth quarter, expanding 4.3%, the fastest pace since before the financial crisis.”

Read more:

http://www.marketwatch.com/story/economy-downshifts-to-26-rate-in-the-fourth-quarter-2015-01-30

“Consumer spending was a major positive”????

And talk about Orwellian.

From Market Watch January 30, 2015.

“White House says economy grew 3.9% using a different measure of growth”

“On the surface this gives the appearance that the economy hit a sizable soft patch.Read full MarketWatch report.

But White House chief economist Jason Furman noted that all of the swings in the fourth quarter came from two notoriously volatile sectors—net exports and government spending.

In a blog post, Furman noted that the economy increased at a 3.9% rate in the October to December period, applying an alternative measure of GDP that strips out these volatile sectors. That figure is only a tad slower than the 4.1% rate in the third quarter.”

Read more:

http://www.marketwatch.com/story/white-house-says-q4-gdp-was-pretty-steady-at-39-rate-2015-01-30?link=MW_home_latest_news

(Refer to the numerous “1984” quotes on this site for the proper decoder ring settings)

Now for the reality from Zero Hedge January 30, 2015.

“Thanks Obamacare: This Is What Americans Spent The Most Money On In Q4”

2014Q4 spending GDPobamacare

“If readers need clarification on what was the primary source of spending-based “growth” for the US economy in the fourth quarter, the same source that bumped up final Q3 GDP from 3.9% to 5.0%, please ping us: we will gladly explain the chart below. And just in case it is still unclear what Americans are spending their “gas sasvings” on, here it is one more time.”

Read more:

http://www.zerohedge.com/news/2015-01-30/thanks-obamacare-what-americans-spent-most-money-q4

From Zero Hedge December 10, 2014.

“The spin continues:

It’s a fair bet that most of the reduced energy costs are going to show up as added spending by consumers somewhere,” said James Hamilton, an economics professor at the University of California, San Diego.

Here’s the thing, Professor Hamilton is spot on. The only problem is what this added spending will be used on. Sadly, it is neither trinkets, nor gadgets, nor BigMacs, nor even surging cell phone and home internet bills. Unfortunately for the proponents of the “oil crash is unquestionably bullish for America” (as an aside, the falacy of a statement is directly proportional to how “unquestionable” it is), where the bulk of “savings” for those Americans who have to spend on gas (primarily those Americans who commute to work, i.e. the middle class) is… on Obamacare.

Here is confirmation that in a centrally-planned economy, it is the unintended consequences that always prevail in the end:

Example 1:

Iowans are feeling the heat from Obamacare’s rising premiums, especially Wellmark customers with Blue Cross Blue Shield.

 

As of January 1, 2015, Blue Cross Blue Shield customers will experience a 14.5 percent increase in premiums, while Wellmark Health plans will see a 11.9 percent increase.

Example 2:

Hundreds of thousands of consumers nationwide who bought insurance plans under the Affordable Care Act will face a choice this fall: swallow higher premiums to stay in their plan, or save money by switching. That is the picture emerging from proposed 2015 insurance rates in the 10 states that have completed their filings, which stretch from Rhode Island to Washington state.

 

In all but one of them, the largest health insurer in the state is proposing to increase premiums between 8.5% and 22.8% for next year, according to a Wall Street Journal review of the filings. That percentage represents the average rate increases for all individual health plans offered by that carrier

Example 3:

Aetna has said it is likely to seek rate increases of more than 10% for individual marketplace plans in 2015, according to a note from Citigroup analyst Carl McDonald. An Aetna spokeswoman said that with health-law fees, generally increasing health-care cost trends and other factors, “that level of increase would not be out of the realm of possibility,” but it was too soon to say what it would request.”

Example 4:

Americans increasingly have to dig into their own pockets to pay for medical care, a shift that is helping to curb the growth in health spending by employers and the government.

 

The trend is being accelerated by the Affordable Care Act because many private plans sold by the law’s health exchanges come with hefty out-of-pocket costs, which prompt some people to delay or put off seeking care. For the exchanges’ 2015 policies, which went on sale last month, “bronze-level” plans have an average deductible of $5,181 for individuals, up from $5,081 in 2014, according to a November report from HealthPocket, which publishes health insurance market analyses. Bronze plans generally cover 60% of consumers’ medical expenses.

And that ignores the fact that the average deductible for workers who get employer health coverage has shot up 47% to $1,217 from $826, and that one in three Americans said they or a family member delayed medical care because of costs in 2014.”

Read more:

http://www.zerohedge.com/news/2014-12-10/what-americans-will-spend-their-whopping-380-low-gas-price-savings

 

 

 

 

NC labor force participation rate plummets 5.3 percent since May 2008, Reason for unemployment rate drop, Reason for drop in claims, No more employees left to lay off, NC ninth most populous state

NC labor force participation rate plummets 5.3 percent since May 2008, Reason for unemployment rate drop, Reason for drop in claims, No more employees left to lay off, NC ninth most populous state

 

“Over the last six months, of the net job creation, 97 percent of that is part-time work,”…Keith Hall, former BLS chief

“The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) was little changed in September at 7.1 million. These individuals, who would have preferred full-time employment, were working part time because their hours had been cut back or because they were unable to find a full-time job.”…US Labor Dept. September 2014

“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″

 

Do not be fooled by low information biased media.

Those folks dropping out of the labor force are not mostly older baby boomers.

They are younger people who have given up on finding jobs.

Many of them are not drawing unemployment pay and are not counted in the unemployed numbers.

They also cannot be laid off.

NC is the ninth most populous state and is representative of what is taking place in the US.

Many states have been hit even harder.

From Citizen Wells January 15, 2015.

“Forget the unemployment rate. If you remove enough people from the labor force you will achieve full employment and a low unemployment rate. We have that scenario now. In fact one state, West Virginia, has a labor force participation rate below 50 percent yet the unemployment rate is 6.3 percent.

See what I mean?

Old Abe Lincoln once said “you can’t fool all of the people all of the time.”

From Market Watch January 14, 2015.

“The only state where less than half its civilians work”

“West Virginia quietly passed the ignominious milestone of having less than half of its adult, civilian population in the workforce in November.

State data compiled by the Labor Department shows that West Virginia’s civilian labor participation rate has fallen to 49.8%, from 50% in October. The national rate in December was 62.7%.

The Mountain State is the only state in the history of the series, which goes back to 1976, to have fallen below 50%, though Mississippi at 50.8% isn’t far behind.”

https://citizenwells.wordpress.com/2015/01/15/us-economy-on-verge-of-collapse-workers-not-buying-labor-markets-recovery-forget-unemployment-rate-record-low-labor-force-participation-rates-wv-drops-below-50-percent-national-debt-exc/

From Citizen Wells January 9, 2015.

“You are being bombarded by the “good news” about employment from the Orwellian mainstream media, low information market news reports and I am certain the White House.

Now for the truth.

The real employment news.

The unemployment rate dropped to 5.6 percent and jobs are being added? Right?

From the US Labor Department data:

There were 456,000 more people not in the labor force in December!

There were supposedly 111,000 more people employed in December???

Hardly cause for celebration, if true, especially with the numbers of part time jobs.

The drop of .2 percent in the labor force participation rate accounts for the .2 percent drop in the unemployment rate.

The  labor force participation rate has plummeted 3 percent since Obama took office.

The number of people who could only find part time work is up 756,000 since Obama took office.”

https://citizenwells.wordpress.com/2015/01/09/real-employment-news-from-us-labor-department-january-9-2015-non-orwellian-version-truth-from-citizen-wells-and-zero-hedge-456k-more-not-in-labor-force-labor-force-participation-drop-of-2-percen/

From Jim Clifton Chairman and CEO of Gallup

“The U.S. now ranks not first, not second, not third, but 12th among developed nations in terms of business startup activity. Countries such as Hungary, Denmark, Finland, New Zealand, Sweden, Israel and Italy all have higher startup rates than America does.

We are behind in starting new firms per capita, and this is our single most serious economic problem. Yet it seems like a secret. You never see it mentioned in the media, nor hear from a politician that, for the first time in 35 years, American business deaths now outnumber business births.

The U.S. Census Bureau reports that the total number of new business startups and business closures per year — the birth and death rates of American companies — have crossed for the first time since the measurement began. I am referring to employer businesses, those with one or more employees, the real engines of economic growth. Four hundred thousand new businesses are being born annually nationwide, while 470,000 per year are dying.

Until 2008, startups outpaced business failures by about 100,000 per year. But in the past six years, that number suddenly turned upside down. There has been an underground earthquake. As you read this, we are at minus 70,000 in terms of business survival. The data are very slow coming out of the U.S. Department of Census, via the Small Business Administration, so it lags real time by two years.

Net Number of New U.S. Firms Plummets

Business startups outpaced business failures by about 100,000 per year until 2008. But in the past six years, that number suddenly reversed, and the net number of U.S. startups versus closures is minus 70,000.

My hunch is that no one talks about the birth and death rates of American business because Wall Street and the White House, no matter which party occupies the latter, are two gigantic institutions of persuasion. The White House needs to keep you in the game because their political party needs your vote. Wall Street needs the stock market to boom, even if that boom is fueled by illusion. So both tell us, “The economy is coming back.”

Let’s get one thing clear: This economy is never truly coming back unless we reverse the birth and death trends of American businesses.

Dead-Wrong Thinking

It is catastrophic to be dead wrong on the biggest issue of the last 50 years — the issue of where jobs come from. Our leadership keeps thinking that the answer to economic growth and ultimately job creation is more innovation, and we continue to invest billions in it. But an innovation is worthless until an entrepreneur creates a business model for it and turns that innovative idea in something customers will buy. Yet current thinking tells us we’re on the right track and don’t need different strategies, so we continue marching down the path of national decline, believing innovation will save us.”

Read more:

http://www.gallup.com/businessjournal/180431/american-entrepreneurship-dead-alive.aspx?utm_source=WWWV7HP&utm_medium=topic&utm_campaign=tiles

 

 

 

Obama hustles and lies in state of union speech, Obama the hustler, Obama devastates US economy, middle class young and students, Rush Limbaugh nails it, More businesses failed during Obama 6 years

Obama hustles and lies in state of union speech, Obama the hustler, Obama devastates US economy, middle class young and students, Rush Limbaugh nails it, More businesses failed during Obama 6 years

“I didn’t like Obama from the beginning, I thought he was a hustler and I think he still is.”…Bartle Bull, lifelong Democrat and civil rights activist, July 1, 2010

“I mean, yeah, he’s got a lot to brag about here, doesn’t he? Is he gonna brag about 92.8 million Americans not working? Is he gonna brag about the absolute mess that HealthCare.gov has been from the get-go? Is he going to brag about all the states he has sued who have attempted to pass legislation in those states to enforce already existing immigration laws? Is he gonna brag about how he has stopped deporting almost anyone except the most hardened criminals? Is he gonna brag about getting to the bottom of the IRS targeting of the Tea Party? Is he gonna brag about getting to the bottom of what happened at Benghazi? Is he gonna brag about finally finding out what happened with the VA scandals and straightening that out?”…Rush Limbaugh January 20, 2015

And if all others accepted the lie which the Party imposed
–if all records told the same tale–then the lie passed into
history and became truth. “Who controls the past,” ran the
Party slogan, “controls the future: who controls the present
controls the past.”…George Orwell, “1984″

 

I did not watch the State of the Union speech for the same reasons that Rush Limbaugh didn’t watch.

Obama is a hustler and a liar.

He has destroyed the US economy, health care system, businesses and jobs.

From Rush Limbaugh January 21, 2015.

“Why I Didn’t Watch the Obama State of the Union Show”

“I never thought, I mean, I thought I might get close to it. I never thought the day would come where I did what I did last night. I did not watch. I did not turn it on. I didn’t have the State of the Union on with the sound down. I didn’t have a channel on where you could see the State of the Union. I today am a proud member of the low-information crowd. I didn’t watch it.”

“And now look. Look at how far Obama has actually fallen, just in that measure alone, how many people have no interest in listening to what he has to say. And that was it for me. I literally had no interest, because I knew what was gonna be said, and more than that, I knew how it was going to be said. I knew that I was gonna be insulted. I knew the things I believe in are gonna be insulted, with a gloating air about it, and I just didn’t want to put up with it.

I’ve got enough other things going on in life now that are far more deserving of my attention than that, particularly when I knew there wasn’t gonna be any real news in this thing last night. There wasn’t gonna be anything unexpected. There wasn’t gonna be anything brand-new. There wasn’t gonna be anything real meaningful as far as that concerned, other than continued obfuscation.”

Read More:

http://www.rushlimbaugh.com/daily/2015/01/21/why_i_didn_t_watch_the_obama_state_of_the_union_show

From Rush Limbaugh January 20, 2015.

“Now, you know presidents, when they go to the State of the Union show, they try to list and rattle off their accomplishments from over the last year or during their presidential terms. So what will Obama point to as his accomplishments since the last State of the Union show? Is he gonna brag about the rise of ISIS? Is he gonna brag about how we’ve lost Iraq and we’re the on brink of losing Afghanistan?

Did you see that ISIS killed 13 young boys because they watched a soccer game? Yeah, so is Obama gonna talk about how he has stopped the rise of ISIS? Is he gonna brag about how we’ve lost Iraq, gonna brag about we’re on the brink of losing Afghanistan? Is he gonna brag about freeing dozens of prisoners at Guantanamo Bay? Is he going to brag about trading five of the worst of them for a man who may have deserted his post, that would be Bergdahl? Is Obama gonna brag about swapping five Cuban terrorists, a couple of whom were actually convicted of murder, for some American hostages the Castros were holding for bargaining chips?

I mean, yeah, he’s got a lot to brag about here, doesn’t he? Is he gonna brag about 92.8 million Americans not working? Is he gonna brag about the absolute mess that HealthCare.gov has been from the get-go? Is he going to brag about all the states he has sued who have attempted to pass legislation in those states to enforce already existing immigration laws? Is he gonna brag about how he has stopped deporting almost anyone except the most hardened criminals? Is he gonna brag about getting to the bottom of the IRS targeting of the Tea Party? Is he gonna brag about getting to the bottom of what happened at Benghazi? Is he gonna brag about finally finding out what happened with the VA scandals and straightening that out?

Or is he gonna skip listing all of these accomplishments and just move on to listing even more ways he wants to buy votes for Democrats in the future? Again, a study out today by a couple of scholars that reports that Obama actually has the second worse State of the Union success rate for any president over the last 50 years, and that would be Gerald Ford, who wasn’t even elected.

Look at what Gerald Ford faced. Gerald Ford faced a country and a media still wallowing in Watergate. Ford’s success rate was 28%, Obama’s is 30, 30% of what Obama has proposed has actually happened, and it’s going to be probably more of the same tonight. And don’t forget that for two years of his tenure, Obama even had a Democrat-controlled Congress, which makes this 30% success rate somewhat unimpressive. ”
“This is an interesting. I’ve been holding this story for couple of days. It’s a Reuters story. “Barack Obama enters the final two years of his presidency with a blemish on his legacy that looks impossible to erase: The decline of the middle class that he has promised to rescue.” What is this from Reuters? A little truth here? Right here, that open is exactly why the State of the Union is being done the way it’s being done tonight and why all of these talks of tax increases on the rich are taking place.

Obama has fixed it so that the only way the middle class benefits is via the redistribution of wealth (and that means government benefits) instead of going out and working and getting jobs. “Barack Obama enters the final two years of his presidency with a blemish on his legacy that looks impossible to erase: the decline of the middle class he has promised to rescue.” In reality, it is impossible to erase. It is what it is. But that’s what tonight’s gonna be about: erasing this and making it look like things have never been better.

Frankly, folks, I don’t want to be lied to about it. Things are not looking better than ever. There’s nothing Obama has done that sets this country up for vast growth and improvement. It’s the exact opposite. “The revival of middle-class jobs has been one of Obama’s mantras since he took office in 2009 fighting the worst economic crisis in generations. It was a major theme of his last State of the Union address and is expected to feature in the one scheduled for [tonight].”

Read more:

http://www.rushlimbaugh.com/daily/2015/01/20/who_cares_about_the_state_of_the_union_it_s_just_lies_and_empty_promises

From Jim Clifton Chairman and CEO of Gallup

“The U.S. now ranks not first, not second, not third, but 12th among developed nations in terms of business startup activity. Countries such as Hungary, Denmark, Finland, New Zealand, Sweden, Israel and Italy all have higher startup rates than America does.

We are behind in starting new firms per capita, and this is our single most serious economic problem. Yet it seems like a secret. You never see it mentioned in the media, nor hear from a politician that, for the first time in 35 years, American business deaths now outnumber business births.

The U.S. Census Bureau reports that the total number of new business startups and business closures per year — the birth and death rates of American companies — have crossed for the first time since the measurement began. I am referring to employer businesses, those with one or more employees, the real engines of economic growth. Four hundred thousand new businesses are being born annually nationwide, while 470,000 per year are dying.

Until 2008, startups outpaced business failures by about 100,000 per year. But in the past six years, that number suddenly turned upside down. There has been an underground earthquake. As you read this, we are at minus 70,000 in terms of business survival. The data are very slow coming out of the U.S. Department of Census, via the Small Business Administration, so it lags real time by two years.

Net Number of New U.S. Firms Plummets

Business startups outpaced business failures by about 100,000 per year until 2008. But in the past six years, that number suddenly reversed, and the net number of U.S. startups versus closures is minus 70,000.

My hunch is that no one talks about the birth and death rates of American business because Wall Street and the White House, no matter which party occupies the latter, are two gigantic institutions of persuasion. The White House needs to keep you in the game because their political party needs your vote. Wall Street needs the stock market to boom, even if that boom is fueled by illusion. So both tell us, “The economy is coming back.”

Let’s get one thing clear: This economy is never truly coming back unless we reverse the birth and death trends of American businesses.

Dead-Wrong Thinking

It is catastrophic to be dead wrong on the biggest issue of the last 50 years — the issue of where jobs come from. Our leadership keeps thinking that the answer to economic growth and ultimately job creation is more innovation, and we continue to invest billions in it. But an innovation is worthless until an entrepreneur creates a business model for it and turns that innovative idea in something customers will buy. Yet current thinking tells us we’re on the right track and don’t need different strategies, so we continue marching down the path of national decline, believing innovation will save us.”

Read more:

http://www.gallup.com/businessjournal/180431/american-entrepreneurship-dead-alive.aspx?utm_source=WWWV7HP&utm_medium=topic&utm_campaign=tiles

And sending more Americans to college will not help either.

We do not have sufficient jobs for current graduates.

High Obamacare deductibles causing high consumer debt and impacting credit reports, 52 percent of all debt on credit reports from medical expenses, 3 in 5 Americans don’t have savings to cover unexpected bills

High Obamacare deductibles causing high consumer debt and impacting credit reports, 52 percent of all debt on credit reports from medical expenses, 3 in 5 Americans don’t have savings to cover unexpected bills

“The cost of health insurance will climb from a range of $61 to $77 monthly to a range of $118 to $133 monthly, according to a memo sent from UNC President Tom Ross to the UNC Board of Governors. On an annual basis, most students will pay about $500 to $700 more in 2012-13, depending on the campus.”

“Mallette said the insurance increases are due to the health care usage of UNC system students during the past couple of years, plus federal regulations on preventive care and pharmacy services issued in March. The process is complicated, he said, by the new provisions of the Affordable Care Act.”…Charlotte Observer May 1, 2012

“One of the CBO’s most intriguing estimates is that by 2017 there will be 2 million fewer full-time jobs on the market than there would have been without Obamacare, and that figure could climb to 2.5 million by 2024.”…Market Watch February 4, 2014

“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″

 

 

You have probably heard or read about the lying POC Obama bragging about the job he has done.

You are constantly bombarded by the Orwellian mainstream media about how much the economy has improved.

Yet most of you know, through your own personal experiences,  finances or by the fate of those you know, that what you are being fed is a huge lie.

Reported at Citizen Wells on January 5, 2015.

“Millions of Americans have already been shocked by premium increases as large as 100 percent. Average increases in some states are 45 percent.

What you probably are not being told about is the hidden problem of high deductibles and the impact on the US economy. More people with higher deductibles will not be able to pay them and the hospitals and healthcare providers will have to absorb the costs and ultimately pass them on to the American public.

I was discussing this problem recently with a friend who owns a Tax/accounting business. He told me that recently he was at a seminar and heard a hospital administrator explain this very topic.

Do not be fooled by the Orwellian Obama controlled mainstream media as they attempt to cover for Obamacare and the economy.”

Read more:

https://citizenwells.wordpress.com/2015/01/05/obamacare-surprises-and-clobbers-millions-of-americans-subsidy-refunds-to-irs-premiums-skyrocket-high-deductibles-unpaid-cost-to-hospitals-and-taxpayers-obamacare-increases-health-care-spending/

From the Charlotte Observer January 7, 2015.

“As Americans pay more out-of-pocket medical costs, Charlotte-area hospitals have begun offering multiyear no-interest payment plans to help patients with their bills.

The changes come at a time when health care reform has increased the number of Americans with insurance. But even those with insurance are spending more for their own care thanks to the rise in high-deductible plans. These plans have lower premiums but require consumers to pay more before reimbursement kicks in.”

“The federal Consumer Financial Protection Bureau recently reported that 52 percent of all debt on credit reports is from medical expenses.

While the Affordable Care Act sets a limit on how much anyone buying insurance through the marketplace must pay in deductibles, co-pays and coinsurance, even that amount would strain many budgets. For 2015, it’s $6,600 for an individual plan and $13,200 for a family plan.”

“Hospital officials said the first year of the Affordable Care Act showed that a subsidized policy with high out-of-pocket costs isn’t always much better than no insurance – for patients or hospitals. Low-income people often chose the high-deductible plans with the lowest premium, then avoided or delayed care because they couldn’t cover the deductible.

In the past year, Stephen Burr, senior vice president of patient financial services for Carolinas HealthCare, said the system’s financial counselors noticed that more people are “really having trouble paying their bills.”

Charity care for uninsured patients rose from $224 million in 2012 to $324 million in 2013 at Carolinas HealthCare, Burr said. Bad debt – the amount left unpaid by patients who don’t qualify for charity care – rose from $243 million in 2012 to $290 million for 2013.

“Affordable coverage usually comes with high deductibles, and patients are now responsible for more of the costs,” Burr said. “The ones that have that insurance (may not have been) fully aware of just how much they’re on the hook to pay for.””

Read more:

http://www.charlotteobserver.com/2015/01/07/5431741/charlotte-hospitals-offer-interest.html#.VK7mAyvF-nY

From Zero Hedge January 7, 2015.

“3 In 5 Americans Don’t Have Savings To Cover Unexpected Bills”

“While various CNBC anchors may be willing to say that the US is “growing gangbusters” yet again confusing the liquidity-oozing equity markets with the economy, there are a couple hundred million Americans who would bet to differ (which incidentally may also explain why the Comcast channel no longer wishes to have its viewership calculated by Nielsen): the reason is that according to the latest Bankrate survey released today, more than three in five Americans don’t have money in their savings accounts to cover any unexpected bills such as a $500 car repair or a $1,000 emergency room visit.

In fact, only 38% of respondents said they have enough funds in their bank accounts to cover even the most mundane of spending emergencies.. Most others would need to take on debt or cut back elsewhere.”

Read more:

http://www.zerohedge.com/news/2015-01-07/3-5-americans-dont-have-savings-cover-unexpected-bills

 

Thanks to commenter oldsoldier79.

 

 

 

 

Obamacare surprises and clobbers millions of Americans, Subsidy refunds to IRS, Premiums skyrocket, High deductibles unpaid cost to hospitals and taxpayers, Obamacare increases health care spending

Obamacare surprises and clobbers millions of Americans, Subsidy refunds to IRS, Premiums skyrocket, High deductibles unpaid cost to hospitals and taxpayers, Obamacare increases health care spending

“The cost of health insurance will climb from a range of $61 to $77 monthly to a range of $118 to $133 monthly, according to a memo sent from UNC President Tom Ross to the UNC Board of Governors. On an annual basis, most students will pay about $500 to $700 more in 2012-13, depending on the campus.”

“Mallette said the insurance increases are due to the health care usage of UNC system students during the past couple of years, plus federal regulations on preventive care and pharmacy services issued in March. The process is complicated, he said, by the new provisions of the Affordable Care Act.”…Charlotte Observer May 1, 2012

“If you like your plan, you can keep it.”…Barack Obama

“millions of Americans are getting or are about to get cancellation letters for their health insurance under Obamacare, say experts, and the Obama administration has known that for at least three years.”…NBC News October 29, 2013

 

 

The Washington Examiner article below warns of surprises to as many as 3.4 million tax filers of Obamacare subsidies that could impact their tax refunds.

That may be the good news.

Millions of Americans have already been shocked by premium increases as large as 100 percent. Average increases in some states are 45 percent.

What you probably are not being told about is the hidden problem of high deductibles and the impact on the US economy. More people with higher deductibles will not be able to pay them and the hospitals and healthcare providers will have to absorb the costs and ultimately pass them on to the American public.

I was discussing this problem recently with a friend who owns a Tax/accounting business. He told me that recently he was at a seminar and heard a hospital administrator explain this very topic.

Do not be fooled by the Orwellian Obama controlled mainstream media as they attempt to cover for Obamacare and the economy.

From Zero Hedge December 23, 2014.

“Fast forward to today when as every pundit is happy to report, the final estimate of Q3 GDP indeed rose by 5% (no really, just as we predicted), with a surge in personal consumption being the main driver of US growth in the June-September quarter. As noted before, between the second revision of the Q3 GDP number and its final print, Personal Consumption increased from 2.2% to 3.2% Q/Q,  and ended up contributing 2.21% of the final 4.96% GDP amount, up from 1.51%.

So what did Americans supposedly spend so much more on compared to the previous revision released one month ago? Was it cars? Furnishings? Housing and Utilities? Recreational Goods and RVs? Or maybe nondurable goods and financial services?

Actually no. The answer, just as we predicted precisely 6 months ago is… well, just see for yourselves.

In short, two-thirds of the “boost” to final Q3 personal consumption came from, drumroll, the same Obamacare which initially was supposed to boost Q1 GDP until the “polar vortex” crashed the number so badly, the BEA decided to pull it completely and leave this “growth dry powder” for another quarter. That quarter was Q3.”

Read more:

http://www.zerohedge.com/news/2014-12-23/here-reason-surge-q3-gdp

From The Washington Examiner January 2, 2015.

“Half of Obamacare subsidy recipients may owe refunds to the IRS”

“As many as 3.4 million people who received Obamacare subsidies may owe refunds to the federal government, according to an estimate by a tax preparation firm.

H&R Block is estimating that as many as half of the 6.8 million people who received insurance premium subsidies under the Affordable Care Act benefited from subsidies that were too large, the Wall Street Journal reported Thursday.

“The ACA is going to result in more confusion for existing clients, and many taxpayers may well be very disappointed by getting less money and possibly even owing money,” the president of a tax preparation and education school told the Journal.

While the Affordable Care Act fines those who don’t have health insurance, it also provides subsidies for people making up to four times the federal poverty line ($46,680).

But the subsidies are based on past tax returns, so many people may be receiving too much, according to Vanderbilt University assistant professor John Graves, who projects the average subsidy is $208 too high, the Journal reports.

Tax preparers, who frequently advertise their ability to deliver big refunds, have been working feverishly to avoid customer anger stemming from lower-than-expected refunds due to insurance premiums. They also are trying to make sure customers understand the potential fines for not having insurance.”

“Eighty-five percent of our customers get a refund,” said Kathy Pickering, who directs the H&R Block Tax Institute, according to the Washington Post. “That refund could be offset by the penalty. And if that happens, they’re going to be understandably angry.”

Read more:

http://www.washingtonexaminer.com/half-who-got-obamacare-credit-may-owe-the-irs/article/2558106

 

 

Obama economy and Obamacare create more homeless kids, 2.5 million children, 1 in 30 American kids, 8 percent increase from 2012 to 2013, Increased in 31 states and DC, Record dropouts in labor force, Record food stamps

Obama economy and Obamacare create more homeless kids, 2.5 million children, 1 in 30 American kids, 8 percent increase from 2012 to 2013, Increased in 31 states and DC, Record dropouts in labor force, Record food stamps

“One of the CBO’s most intriguing estimates is that by 2017 there will be 2 million fewer full-time jobs on the market than there would have been without Obamacare, and that figure could climb to 2.5 million by 2024.”…Market Watch February 4, 2014

“Nearly half of U.S. companies are reluctant to hire full-time employees because of the ACA. One in five firms indicates they are likely to hire fewer employees, and another one in 10 may lay off current employees in response to the law.

Other firms will shift toward part-time workers. More than 40 percent of CFOs say their companies will consider switching some jobs to less than 30 hours per week or targeting part-time workers for future employment.”…Duke University Fuqua School of Business December 11, 2013

“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″

 

 

Smoke and mirrors will work for a while.

The 2014 elections helped reveal the truth.

The financial markets have been propped up by the fed.

There has been a disconnect between Wall St. and Main St. or more troubling, no street, no home no hope.

2.5 million children in the US are homeless.

There was an increase of 8 percent from 2012 to 2014.

Obama’s self serving policies are a big reason for this.

Record numbers of people have dropped out of the labor force.

Record numbers of people have had their hours reduced or could only find part time jobs as a direct result of Obamacare.

Record numbers of people depend on public assistance.

From the National Center for Family and Homelessness.

“America’s Youngest Outcasts reports on child homelessness in the United States based on the most recent federal data that comprehensively counts homeless children, using more than 30 variables from over a dozen established data sets.
A staggering 2.5 million children are now homeless each year in America. This historic high represents one in every 30 children in the United States. Child homelessness increased in 31 states and the District of Columbia from 2012 to 2013. Children are homeless in every city, county, and state—every part of our country.
Based on a calculation using the most recent U.S. Department of Education’s count of homeless children in U.S. public schools and on 2013 U.S. Census data:
• 2,483,539 children experienced homelessness in the U.S. in 2013.
• This represents one in every 30 children in the U.S.
From 2012 to 2013, the number of children experiencing homelessness annually
in the U.S.:
• Increased by 8% nationally.
• Increased in 31 states and the District of Columbia.
• Increased by 10% or more in 13 states and the District of Columbia.”

“Prevalence of Child Homelessness in the United States
Based on 2013 data released in September 2014 by the U.S. Department of Education, combined with an estimate of younger non-school aged homeless children in the U.S., the number of children experiencing homelessness annually is 2,483,539—or 2.5 million children, an historic high. Using U.S. Census estimates of the total population of children under 18 years in 2013, this represents one in every 30 children.1”

HomelessKids

Read more:

http://www.homelesschildrenamerica.org/mediadocs/280.pdf