Category Archives: 2009 Stimulus Bill

Labor force participation rate drops to record low, Unemployment still over 8 percent, .2 percent drop in labor force lowers unemployment rate, White House brags

Labor force participation rate drops to record low, Unemployment still over 8 percent, .2 percent drop in labor force lowers unemployment rate, White House brags

“Guilford (Large NC County) appears on it’s way to a third consecutive year with annual jobless rates in double digits. Economists say that likely hasn’t happened since the Great Depression.”…Greensboro News Record December 2, 2011

“We tried our plan—and it worked. That’s the difference. That’s the choice in this election. That’s why I’m running for a second term.”…Barack Obama

“the Times of the nineteenth of December had published the official forecasts of the output of various classes of consumption goods in the fourth quarter of 1983, which was also the sixth quarter of the Ninth Three-Year Plan. Today’s issue contained a statement of the actual output, from which it appeared that the forecasts were in every instance grossly wrong. Winston’s job was to rectify the original figures by making them agree with the later ones.”…George Orwell, “1984”

The unemployment rate fell by .2 percent only because the labor force participation rate dropped .2 percent to record lows.

From the US Labor Department, BLS September 7, 2012.
“Total nonfarm payroll employment rose by 96,000 in August, and the unemployment rate edged down to 8.1 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in food services and drinking places, in professional and technical services, and in health care.

Household Survey Data

The unemployment rate edged down in August to 8.1 percent. Since the beginning of this year, the rate has held in a narrow range of 8.1 to 8.3 percent. The number of unemployed persons, at 12.5 million, was little changed in August. (See table A-1.)

Among the major worker groups, the unemployment rates for adult men (7.6 percent), adult women (7.3 percent), teenagers (24.6 percent), whites (7.2 percent), blacks (14.1 percent), and Hispanics (10.2 percent) showed little or no change in August. The jobless rate for Asians was 5.9 percent (not seasonally adjusted), little changed from a year earlier. (See tables A-1, A-2, and A-3.)

In August, the number of long-term unemployed (those jobless for 27 weeks or more) was little changed at 5.0 million. These individuals accounted for 40.0 percent of the unemployed. (See table A-12.)

Both the civilian labor force (154.6 million) and the labor force participation rate (63.5 percent) declined in August. The employment-population ratio, at 58.3 percent, was little changed. (See table A-1.)”

http://www.bls.gov/news.release/empsit.nr0.htm

The Labor Force Participation Rate decline can be viewed here.

http://data.bls.gov/timeseries/LNS11300000/

In consistent Orwellian fashion, the White House responded.

“The Employment Situation in August”
“While there is more work that 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. It is critical that we continue the policies that are building an economy that 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. To create more jobs in particularly hard-hit sectors, President Obama continues to support the elements of the American Jobs Act that have not yet passed, including further investment in infrastructure to rebuild our Nation’s ports, roads and highways, and assistance to State and local governments to prevent layoffs and to enable them to rehire hundreds of thousands of teachers and first responders. To build on the progress of the last few years, President Obama has also proposed an extension of middle class tax cuts that would prevent the typical middle class family from facing a $2,200 tax increase next year.

Today’s report from the Bureau of Labor Statistics (BLS) shows that private sector establishments added 103,000 jobs last month, and overall non-farm payroll employment rose by 96,000. The economy has now added private sector jobs for 30 straight months, for a total of 4.6 million jobs during that period.

The household survey showed that the unemployment rate declined from 8.3 percent to 8.1 percent in August.”

http://www.whitehouse.gov/blog/2012/09/07/employment-situation-august

From CNN September 7, 2012.

“August jobs report: Hiring slows, unemployment falls”

“The labor market lost momentum last month as job growth fell to a disappointingly slow pace.
The unemployment rate fell, but that was largely due to people who stopped looking for jobs.
Are you better off?

The economy added 96,000 jobs in August, down from 141,000 jobs in July, the Department of Labor said Friday.
Economists polled by CNNMoneywere expecting 120,000 jobs to be added in the month.
Meanwhile, the unemployment ratefell to 8.1%, from 8.3% in July.

The drop in unemployment was caused because 368,000 people stopped looking for work and therefore were no longer counted in the survey.
“These numbers are not very strong,” said Joseph LaVorgna, chief U.S. economist at Deutsche Bank. “The job market is improving, but only gradually.”

Economists often say at least 150,000 jobs need to be created each month to simply keep pace with the growing population.
The overall job market still has a long way to go recover from the financial crisis. Three years after the recession ended, roughly 12.5 million Americans remain unemployed, and 40% of them have been so for six months or more.”

http://money.cnn.com/2012/09/07/news/economy/august-jobs-report/index.html

Bernanke unemployment high, Labor Day weekend August 31, 2012, Fed can do more, Economic recovery far from satisfactory, Jobless claims 374,000

Bernanke unemployment high, Labor Day weekend August 31, 2012, Fed can do more, Economic recovery far from satisfactory, Jobless claims 374,000

“We tried our plan—and it worked. That’s the difference. That’s the choice in this election. That’s why I’m running for a second term.”…Barack Obama
“after 29 months of allegedly stellar job growth under Obama, the jobless rate is still 8.3%. By this point in the Reagan and Bush jobs recoveries, the unemployment rate was 7.2% and 4.9%, respectively. If we were one of those fact-checking organizations, we’d give Stephanie Cutter the “Lying Liar from Liersburg” award.”…News Busters August 26, 2012

“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″

From Boston.com August 31, 2012.
“Bernanke: With unemployment high, Fed can do more”

“Chairman Ben Bernanke made clear Friday that the Federal Reserve will do more to boost the economy because of high U.S. unemployment and an economic recovery that remains ‘‘far from satisfactory.’’

He also argued that the Fed’s moves so far to keep interest rates at record lows and encourage borrowing and spending have helped bolster the economy.

Bernanke stopped short of committing the Fed to any specific move, such as another round of bond purchases to lower long-term rates. But in a speech at an annual Fed conference in Jackson Hole, Wyo., Bernanke said that even with rates at super-lows, the Fed can do more.

After Bernanke’s comments were released at 10 a.m. Eastern time, stocks initially gave up most of their earlier gains. But as investors digested the speech, stocks bounced back. By late morning, the Dow Jones industrial average was up more than 100 points. Broader stock indexes also surged.

Bernanke noted that further action carries risks but says the Fed can manage them. The Fed ‘‘should not rule out’’ new policies to improve the job market, he said.

The most dramatic step the Fed could take would be another round of bond buying. This is known as quantitative easing, or QE. In two rounds of QE, the Fed bought more than $2 trillion of Treasury bonds and mortgage-backed securities. Many investors have been hoping for a third round — QE3— to be unveiled as soon as the Fed’s next policy meeting in September.

In light of Bernanke’s comments Friday, some analysts said that might be a stronger possibility now.”

“In his speech, Bernanke cited studies showing that the Fed’s first two rounds of bond purchases created at least 2 million jobs.”

“Bernanke’s comments Friday made clear that the economy has a long way back to full health.

‘‘Unless the economy begins to grow more quickly than it has recently, the unemployment rate is likely to remain far above levels consistent with maximum employment for some time,’’ he said.”

Read more:

http://www.boston.com/business/markets/2012/08/31/bernanke-with-unemployment-high-fed-can-more/n9QmdIvIK9wPGKFNGsfSYK/story.html

From the US Labor Department August 30, 2012.

“In the week ending August 25, the advance figure for seasonally adjusted initial claims was 374,000, unchanged from the previous week’s revised figure of 374,000. The 4-week moving average was 370,250, an increase of 1,500 from the previous week’s revised average of 368,750.”

http://www.dol.gov/opa/media/press/eta/ui/current.htm

Obama job facts August 5, 2012, Obama lies about jobs created, Fewer jobs since Obama and Democrats took control, Higher unemployment, Lower labor force participation

Obama job facts August 5, 2012, Obama lies about jobs created, Fewer jobs since Obama and Democrats took control, Higher unemployment, Lower labor force participation

“The United States economy has lost more jobs than it has added since the recovery began over a year ago.”…NY Times Sept. 20, 2010.

“Guilford (Large NC County) appears on it’s way to a third consecutive year with annual jobless rates in double digits. Economists say that likely hasn’t happened since the Great Depression.”…Greensboro News Record December 2, 2011

“The Party told you to reject the evidence of your eyes and ears. It was their final, most essential command. His heart sank as he thought of the enormous power arrayed against him, the ease with which any Party intellectual would overthrow him in debate, the subtle arguments which he would not be able to understand, much less answer. And yet he was in the right! They were wrong and he was right. The obvious, the silly, and the true had got to be defended. Truisms are true, hold on to that! The solid world exists, its laws do not change. Stones are hard, water is wet, objects unsupported fall towards the earth’s centre. With the feeling that he was speaking to O’Brien, and also that he was setting forth an important axiom, he wrote:

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

Obama is the biggest liar to ever occupy the Oval Office. One of his big lies is misleading the American Public on job creation. He only touts the jobs created, not the net impact of his policies. Not the jobs lost. Not the people dropping out of the labor force.

Here is a simplified example that explains what is happening.

Smallville USA, a fictional town, has five companies.

During the last month company A hires 2 people and company B hires 3. The mayor, interviewed by the local newspaper, brags about job growth in the town and states that 5 jobs were added.

What the mayor fails to mention is that company C dismisses 7, company D dismisses 5 and company E dismisses 3.

Smallville has a net loss of 10 jobs. The local economy is impacted. The mayor failed to mention that. So has Obama.

The misleading information, the lie, that Obama has been touting in his speeches can be found at BarackObama.com. Everything about the presentation of job creation leaves one with the impression that Obama has netted job gains.

For example:

4.5 million private sector jobs added in past 29 months.

The graph indicates many jobs lost prior to Obama taking office and the Recovery Act being signed.

The net jobs gained is not provided and no mention of the fact that the Democrats controlled congress beginning in January of 2007 until the Republicans took the House in 2011.

http://www.barackobama.com/jobsrecord?source=om2012_PR_G_gm-jobs-bg-search_core_&omtype=ofa&subsource=mkwid%7CXWIcSPIC%7Ckw%7C%5Bobama%20jobs%5D%7Cmatchtype%7Ce%7Cpcrid%7C15823272973%7Cpl%7C%7C&gclid=CN2Z5dLT0LECFW1j7Aod-SMAnw

Here is the acid test, the bottom line on Obama and the Democrats impact on jobs.

When the Democrats took control of congress in January 2007, the unemployment rate was 4.6 percent.

When Obama  took control of the White House in January 2009, the unemployment rate was 7.8 percent.

The stated current unemployment rate is 8.3 percent.

That is job creation???

http://data.bls.gov/timeseries/LNS14000000

And that is not all.

The Labor Force Participation Rate has dropped. If that rate had not dropped, the unemployment rate would have been significantly higher.

When the Democrats took control of congress in January 2007, the Labor Force Participation Rate 66.4 percent.

When Obama took control of the White House in January 2009, the Labor Force Participation Rate was 65.7 percent.

The Labor Force Participation Rate currently is 63.7 percent.

http://data.bls.gov/timeseries/LNS11300000/

My reason for quoting Orwell’s “1984” should be crystal clear.


Obama economy and performance buoyed by NPR and biased media, Washington Post aka Times of “1984” misleads public, Time Magazine, NPR receives 4 Orwells

Obama economy and performance buoyed by NPR and biased media, Washington Post aka Times of “1984” misleads public, Time Magazine, NPR receives 4 Orwells

“If I had my choice I would kill every reporter in the world but I am sure we would be getting reports from hell before breakfast.”… William Tecumseh Sherman

“If you tell a lie big enough and keep repeating it, people will eventually come to believe it”…Joseph Goebbels

“As soon as all the corrections which happened to be necessary in any particular number of the Times had been assembled and collated, that number would be reprinted, the original copy destroyed, and the corrected copy placed on the files in it’s stead. This process of continuation alteration was applied not only to newspapers, but to books, periodicals, pamphlets, posters, leaflets, films, sound tracks, cartoons, photographs–to every kind of literature or documentation which might conceivably hold any political or ideological significance. Day by day and almost minute by minute the past was brought up to date. In this way every prediction made by the Party could be shown by documentary evidence to be correct; nor was any item of news, or expression of opinion, which conflicted with the needs of the moment, ever allowed to be on record.”…George Orwell, “1984″ 

From Larry Elder May 10, 2012.

“Elder: Obama-Loving Media Spin the Economy”


“National Public Radio’s Kai Ryssdal recently talked about the weak economy. His guests, two reporters from The Washington Post and The New York Times, acknowledged the obvious — that the economy is underperforming.

Yet, in the 20 minutes of my sitting and listening in the car in bad Los Angeles traffic, I heard no one mention the words “President Barack Obama.”

Time magazine, in a cover story on the economy, called the current economic recovery a “97-pound weakling.” It informs us that our sluggish economy is now driven by broad, virtually uncontrollable worldwide economic trends. Only once in this lengthy article did Time mention Obama — and only to say that Republican presidential challenger Mitt Romney “plans to use the economy as a hammer against President Obama.”

That’s it. The President, Mr. Hope-and-Change, you see, is powerless to do anything about the economy. None of that “the buck stops here” stuff for him.

Investor’s Business Daily writes that our neighbor up north sees things differently: “The Obama administration and its economic czars have flailed about for years, baffled about how to get the U.S. economy growing. In reality, the president need look no further than our neighbor, Canada, whose solid growth is the product of tax cuts, fiscal discipline, free trade and energy development. That’s made Canada a roaring puma nation, while its supposedly more powerful southern neighbor stands on the outside looking in.”

Canadian Finance Minister Jim Flaherty said: “Creating jobs and growth in our economy is our top propriety. … We are creating the conditions for businesses to successfully compete in the global economy by investing in Canada and creating jobs and growth for all Canadians. Through our government’s low-tax plan … we are continuing to send the message that Canada is open for business and the best place to invest.”

What about the economies of our 50 states? If Obama is powerless to do anything about the economy, surely the states alone are at least as impotent?

But low-tax states outperform high-tax states. Seven states have no personal income taxes (PIT) — Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming. Two states tax only income on interest and dividends — New Hampshire and Tennessee. The average state and local revenue growth of these nine states from 2000 to 2009 was 81.53 percent.

Average revenue growth in the nine states with the highest PIT rates — Ohio, Maine, Maryland, Vermont, New Jersey, California, Oregon, Hawaii and New York — was 44.88 percent. Similarly, gross state product growth from 2001 to 2010 averaged 58.54 percent in the nine states with no PIT versus 42.06 in the nine states with the highest PIT rates.

Remember, our leftist president once told ABC’s Charlie Gibson that he wants to raise capital gains taxes — even though Obama conceded that historically higher capital taxes lead to less revenue. Then why raise rates at all, asked Gibson. “For purposes of fairness,” said then-Sen. Obama.

This is a president determined to “spread the wealth” to deal with “the gap” between the top 1 percent and the bottom 99 percent. To the Occupy Wall Street protestors, this is a president who said, “You are the reason I ran for office.” This is a president who said, “I do think at some point you’ve made enough money.”

This is a president who blames the Wall Street/housing meltdown on greed. As the see-no-Obama-on-the-economy Time magazine article puts it: “We got into the housing mess because we used our homes like ATMs to cover up the fact that neither incomes nor jobs have grown as much as they should have in the past two decades. It was a myth we all bought into, from the policymakers who pushed the idea of an ownership society fueled by debt to interest-rate-lowering central bankers who kept the music playing to individuals who took the mortgages they knew they couldn’t afford.”

This is the Obama version of events. Greed. Lack of oversight. Government policy had nothing to do with it. Banks just suddenly and for no reason started lending money to people they knew could not afford their mortgages.

Time magazine makes no mention about the central role played by laws like the Community Reinvestment Act. Nothing about the government-built and government-supported behemoths Freddie Mac and Fannie Mae, which changed the rules so that “underrepresented” borrowers could buy a home, too. The government told lenders to lend to high-risk borrowers — or else. What, or else? The government actually threatened fines and held up prudent bank mergers if one or both sides did not sufficiently “lend” to borrowers who, under normal circumstances, failed to qualify.

NPR, however, took the pretzel-twisting in defense of Obama to an even higher level. When the disappointing first quarter numbers came in, NPR’s Scott Neuman actually asked this question: “Common sense says high growth rates are good and slower, more modest ones are not so good. But is that always the case? After all, the ‘irrational exuberance’ of the early 2000s helped bring on the recession, as people borrowed and spent their way to prosperity.”

So bad economic news is actually good economic news. Four more years!”

http://www.gopusa.com/commentary/2012/05/10/elder-obama-loving-media-spin-the-economy/?subscriber=1

NPR receives 4 Orwells.

The Washington Post received 4 Orwells yesterday for their ongoing inaccurate and biased reporting.

https://citizenwells.wordpress.com/2012/05/09/washington-post-misrepresents-labor-force-participation-rate-unemployment-rate-blamed-on-baby-boomers-selective-quoting-post-receives-4-orwells/

 

Obama jobs added and unemployment rate truth, Labor force participation plummeted, Skews unemployement rate, Historic drop in labor force, Orwellian spin continues

Obama jobs added and unemployment rate truth, Labor force participation plummeted, Skews unemployement rate, Historic drop in labor force, Orwellian spin continues

“The unemployment rate would be even higher than it is now had participation in the labor force not declined as much as it has over the past few years. The rate of participation in the labor force fell from 66 percent in 2007 to an average of 64 percent in the second half of 2011, an unusually large decline over so short a time. About a third of that decline reflects factors other than the downturn, such as the aging of the baby-boom generation.

But even with those factors removed, the estimated decline in that rate during the past four years is larger than has been typical of past downturns, even after accounting for the greater severity of this downturn. Had that portion of the decline in the labor force participation rate since 2007 that is attributable to neither the aging of the baby boomers nor the downturn in the business cycle (on the basis of the experience in previous downturns) not occurred, the unemployment rate in the fourth quarter of 2011 would have been about 1¼ percentage points higher than the actual rate of 8.7 percent.”…Congressional Budget Office

“the Times of the nineteenth of December had published the official forecasts of the output of various classes of consumption goods in the fourth quarter of 1983, which was also the sixth quarter of the Ninth Three-Year Plan. Today’s issue contained a statement of the actual output, from which it appeared that the forecasts were in every instance grossly wrong. Winston’s job was to rectify the original figures by making them agree with the later ones.”…George Orwell, “1984″

“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″

With my math and computer science background and awareness of Orwellian wordsmithing by the Obama camp, I couldn’t help but notice what is going on with jobs and unemployment reporting. Another huge clue has been the emphasis from the mainstream media, i.e., “The lady doth protest too much me thinkst.”

Obama continues to tout the jobs being created without ackowledging the jobs lost. However, the biggest bit of Orwellian spin is referencing a drop in the unemployment rate and ignoring a historic drop in the labor force participation rate.

From the Bureau of Labor Statistics May 4, 2012.

“Both the number of unemployed persons (12.5 million) and the unemployment
rate (8.1 percent) changed little in April.”
“The civilian labor force participation rate declined in April to 63.6 percent,
while the employment-population ratio, at 58.4 percent, changed little.”

http://www.bls.gov/news.release/empsit.nr0.htm

A labor force participation rate of 63.6 percent is significant.

Reported at Citizen Wells on April 26, 2012.

Labor force participation: The share of adults in the labor force — either looking or working — has dropped 3% — also highly unusual in a recovery. At 63.7%,
labor force participation is at a low not seen since the middle of the very deep 1981-82 recession, when fewer women were in the work force. A lower
participation rate makes the unemployment rate look better.

https://citizenwells.wordpress.com/2012/04/26/obama-and-democrats-created-high-unemployment-and-blame-bush-and-others-obama-inherited-2-years-of-a-democrat-controlled-congress-unemployemt-and-gas-prices-began-climb-in-jan-2007/

The labor force participation rate was 66 percent in 2007 when the Democrats took control of Congress.

From the Federal Reserve Bank of San Francisco November 2, 2007.

“the current consensus forecast among government agencies is that labor force participation will level off at around 66% and stay flat for the foreseeable future.”

http://www.frbsf.org/publications/economics/letter/2007/el2007-33.html

The labor force participation is 63.6 percent!

And jobs added, that is net jobs added.

Set your Orwell decoder ring to the proper settings.

From the Washington Post September 7, 2011.

http://www.washingtonpost.com/business/economy/jobs-lost-jobs-gained/2011/09/07/gIQA1ZlYAK_graphic.html

 

Unemployment May 4, 2012, Unemployment claims revised upward, 4 week moving average 383500, April private sector jobs plummeted, Real unemployment rate?

Unemployment May 4, 2012, Unemployment claims revised upward, 4 week moving average 383500, April private sector jobs plummeted, Real unemployment rate?

“Guilford (Large NC County) appears on it’s way to a third consecutive year with annual jobless rates in double digits. Economists say that likely hasn’t happened since the Great Depression.”…Greensboro News Record December 2, 2011

“the Times of the nineteenth of December had published the official forecasts of the output of various classes of consumption goods in the fourth quarter of 1983, which was also the sixth quarter of the Ninth Three-Year Plan. Today’s issue contained a statement of the actual output, from which it appeared that the forecasts were in every instance grossly wrong. Winston’s job was to rectify the original figures by making them agree with the later ones.”…George Orwell, “1984”

“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″

The stated unemployment rate is 8.1%.

What is the real unemployment rate?

Further analysis of this is forthcoming.

Here is what we know:

Unemployment claims get reported and then revised upward. The recent report was changed to 392,000 from the prior week’s reported 388,000.

The 4 week moving average has gone up the past several weeks. It is now 383,500.

Private sector employment increased by 119,000 jobs in April instead of the forecasted 170,000.

Many individuals, discouraged by the dismal jobs picture, have left the job market.

What ever the stated unemployment rate is, the real unemployment rate is significantly higher.

High school and college graduates, about to enter the full time job market, face dismal prospects. Though they have been counted by the Labor Department (I just verified this), they will still add millions to those seeking full time employment.

“Federal Reserve Chairman Ben Bernanke and his fellow policymakers at the central bank have expressed worry that the employment picture ahead is likely to be weak”…CNBC May 2, 2012.

Rush Limbaugh continues to state that the unemployment rate will be manipulated to benefit Obama. Anything over 8 % is considered lethal to his reelection.

Obama News April 30, 2012, Economics 101 companies do not pay taxes, Consumers pay in higher prices job cuts and reduced pay, US economy slowdown caused by Obama taxes and policies

Obama News April 30, 2012, Economics 101 companies do not pay taxes, Consumers pay in higher prices job cuts and reduced pay, US economy slowdown caused by Obama taxes and policies

“What do you think a stimulus is? It’s spending – that’s the whole point! Seriously.”…Barack Obama

“…and Socialist governments traditionally do make a financial mess. They [socialists] always run out of other people’s money. It’s quite a characteristic of them.”…Margaret Thatcher

“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″

Citizen Wells has been writing for some time about the impact of high gas prices and taxation on the economy. One of the most important ideas presented here is the fact that companies do not pay taxes, consumers do.

From Citizen Wells April 3, 2012.

“First, the corporate tax rate in the US is near or at the top in the world.

US oil companies pay enormous amounts of taxes. How does this compare to one of Obama’s pay to play buddies GE? Check this out for yourself.

Here is the really important point about raising taxes on oil companies and other companies.

Companies (corporations, LLC’s, partnerships, sole proprietors) do not pay taxes!

Consumers pay for the tax increases.

Taxes are part of the cost of doing business.

A tax increase to a company results in some combination of the following:

Product and service price increases.

Employee and hours cutbacks.

Reduced hiring.

Does any of this sound familiar?”

https://citizenwells.wordpress.com/2012/04/03/obama-lies-on-oil-companies-taxes-profits-and-impact-on-consumers-obama-energy-policy-based-on-chicago-pay-to-play-politics-truth-team-notification/

Here is another example.

From McClatchy News April 27, 2012.

“Weak growth of U.S. economy in first quarter renews fears of stalled recovery”

“The U.S. economy’s weaker-than-expected growth in the first three months of this year renewed concerns Friday that the nation’s fragile recovery might stall. ”
“The real disappointment in Friday’s report was a drop in business fixed investment of 2.1 percent and in spending on business structures of a whopping 12 percent. Spending on equipment was up by only a weak 1.7 percent, which partly reflects the end of a tax break for business investment last year.”

““I think what it says is consumers are coming back a bit, but firms are still holding back. They don’t feel confident enough in the recovery to start adding to capacity” and expanding, said Bill Craighead, an economics professor at Wesleyan University in Middletown, Conn. Consumers appear to be making up for cautious spending in recent years, more confident that the worst is over, he suggested.

The same can’t be said for American businesses.

“Given corporate profits, you might have hoped for more investment growth,” Craighead said. The economy continues to “hit the snooze button. … It’s acceptable growth in the normal economy, but given how many people are unemployed it is disappointing.””

http://www.mcclatchydc.com/2012/04/27/146970/us-economy-slows-to-22-percent.html

From McClatchy News April 23, 2012.

“U.S. economy faces likely slowdown, big year-end decisions”

“The U.S. economy is expected to slow later this year, dragged down by slowing global growth, rising anxiety about the elections and the specter of gridlock in Washington over urgent tax, spending and debt deadlines. The Bush-era tax cuts of 2001 and 2003 and the payroll tax cut of the past two years expire at year’s end, when last year’s debt deal also will force across-the-board cuts in federal spending unless Congress and the president strike new deals, but there’s no consensus on that.

A spate of recent indicators punctuated fears that the economy is stalling. March delivered only 120,000 new jobs, and the latest manufacturing and real estate data softened. Some economists say the economy’s strong six-month run through March might not be sustainable.

“If we’re right and growth was overstated in the first quarter and we see payback in the second and third quarters of this year, then it’s going to raise a lot of questions of just how much progress we’ve made over the past few years,” said Mark Vitner, a senior economist at Wells Fargo Securities in Charlotte, N.C.”

“Recent U.S. data have been discouraging for what remains the world’s largest economy.

In the two weeks after the April 6 release of the weak March employment numbers, first-time jobless claims rose. The Labor Department said last Thursday that the four-week average for unemployment claims stood at 374,750 _ the highest since January.

Additionally, the job placement firm Challenger, Gray & Christmas reported earlier this month that employers announced 9.4 percent more layoffs in the first three months of this year than the same period last year. Last year’s numbers, however, were the smallest number of layoffs since 1995.

It all points to slower hiring.

“Were we on the verge of a breakout? I think the answer is no,” said Kevin Logan, the chief U.S. economist for the global bank HSBC.

Noting that the economy is adding jobs in a monthly range of 100,000 to 200,000, Logan expects hiring to bump along the bottom. “The next few months, we’ll fall back into this slower pattern,” he said, adding that several drivers of the U.S. economy remain impaired.

Chief among them is the moribund housing market, which remains mired in a foreclosure crisis. What little housing is moving in many major U.S. cities is foreclosure sales and short-sales, dragging down home prices and erasing the potential wealth of neighbors.”

http://www.mcclatchydc.com/2012/04/23/v-print/146393/us-economy-faces-likely-slowdown.html

 

NC unemployment initial claims up 1923, Fifth highest in nation, US initial claims 388000, 4 week moving average up 6250, Obama stimulus in action

NC unemployment initial claims up 1923, Fifth highest in nation, US initial claims 388000, 4 week moving average up 6250, Obama stimulus in action

“Guilford (Large NC County) appears on it’s way to a third consecutive year with annual jobless rates in double digits. Economists say that likely hasn’t happened since the Great Depression.”…Greensboro News Record December 2, 2011

“New, more-accurate estimates show North Carolina’s unemployment rate stayed above 10 percent throughout 2011, falling to 10.2 percent in January in a key election battleground state, the state Commerce Department reported today.”…Greensboro News Record March 14, 2012

“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″

Unemployment initial claims were up by 1, 923 last week in NC, the fifth highest in the nation. The Obama stimulus plan reminds me of the old adage. Obama’s cronies got the gold ore and we got the shaft.

From the US Labor Department April 26, 2012.

“UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT
SEASONALLY ADJUSTED DATA

In the week ending April 21, the advance figure for seasonally adjusted initial claims was 388,000, a decrease of 1,000 from the previous week’s revised figure of 389,000. The 4-week moving average was 381,750, an increase of 6,250 from the previous week’s revised average of 375,500.”

“The largest increases in initial claims for the week ending April 14 were in New York (+3,352), California (+3,060), Georgia (+2,179), Florida (+2,048), and North Carolina (+1,923)”

http://www.dol.gov/opa/media/press/eta/ui/current.htm

In the prior article at Citizen Wells it was pointed out that Obama inherited high unemployment not from George Bush, but from a Democrat controlled congress beginning in January of 2007. The same scenario has impacted NC, only more devastatingly.

NC unemployment from Jan. 2007 to Jan. 2012.

More details here.

http://data.bls.gov/timeseries/LASST37000003

Obama and Democrats created high unemployment and blame Bush and others, Obama inherited 2 years of a Democrat controlled Congress, Unemployment and gas prices began climb in Jan 2007

Obama and Democrats created high unemployment and blame Bush and others, Obama inherited 2 years of a Democrat controlled Congress, Unemployment and gas prices began climb in Jan 2007

“What do you think a stimulus is? It’s spending – that’s the whole point! Seriously.”…Barack Obama

“The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. America has a debt problem and a failure of leadership. Americans deserve better. I, therefore, intend to oppose the effort to increase America’s debt.”…Barack Obama

“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″

The catalyst for this article came several days ago after a brief conversation with a young college student. It is my understanding that this young man is not a Obama supporter. However he believed that unemployment had gone down since Obama took office. I enlightened him.

Citizen Wells began quoting George Orwell early in 2008 for a reason. Obama, in concert with the mainstream media, has been telling non stop lies. One of the constant themes of lies has to do with the Obama stimulus bill and job creation and unemployment.

There has been much debate about whether or not Obama promised that the stimulus bill would keep unemployment at a maximum of 8 percent or not. It does not matter. Obama stated that the stimulus would save and create jobs and the following graph from a report prepared by Christina Romer and Jared Bernstein shows unemployment staying below 8 percent with the implementation of Obama’s stimulus bill.

The Washington Post has more on this.

http://www.washingtonpost.com/wp-srv/special/business/unemployment-predictions/

From Investors Business Daily February 17, 2012.

“Obama Stimulus Turns Three: What Has It Achieved?”

“Without any fanfare whatsoever from the White House, February 17 marks the three-year anniversary of the day President Obama signed the much ballyhooed stimulus into law.

At the time, Obama claimed that it would “create or save” up to 3.5 million jobs, and that “a new wave of innovation, activity and construction will be unleashed across America.” The stimulus, would, he promised””ignite spending by businesses and consumers” and bring “real and lasting change for generations to come.”

So three years later, how do the stimulus results stack up? Here’s where various indicators stood in or around February 2009, and where they stand today.

Unemployment rate: The jobless rate is unchanged from February 2009 to January 2012, the latest month for which we have data. Both stood at 8.3%, according to the Bureau of Labor Statistics. Obama’s economists had initially predicted that with the stimulus, unemployment would stay below 8%.

Number of long-term unemployed: The number of workers who have been unable to find a job in 27 months or more has shot up 83%, with their ranks now at 5.5 million.

Civilian labor force: It has shrunk by 126,000. In past recoveries, the labor force climbed an average of more than 3 million over comparable time periods.

Labor force participation: The share of adults in the labor force — either looking or working — has dropped 3% — also highly unusual in a recovery. At 63.7%, labor force participation is at a low not seen since the middle of the very deep 1981-82 recession, when fewer women were in the work force. A lower participation rate makes the unemployment rate look better.

Household income: Median annual household income is about 7% below where it was in February 2009, according to the Sentier Research Household Income Index.

National debt: Up $4.5 trillion, or 41%, according to the Treasury Department’s monthly reports. The latest Treasury figures put the national debt at $15.4 trillion, larger than the entire U.S. economy.

Deficits: The deficit for fiscal year 2009 totaled $1.4 trillion. The Obama administration’s proposed deficit for 2012 is $1.3 trillion, which would mark the fourth year of deficits topping $1 trillion.

Gross Domestic Product: Real GDP has climbed just 6% between Q1 2009 and Q4 2011, according to the Bureau of Economic Analysis.

Spending by consumers and businesses: Personal consumption has managed to climb 10% in the past three years, according to the BEA, but companies continue to hoard cash, with cash on hand up 27% since Q1 2009, according to the Federal Reserve Bank.

Stimulus price tag: The original estimate for the cost of the stimulus was $787 billion. Now the Congressional Budget Office says that, when all is said and done, it will have cost$825 billion .

Perhaps the best measure of the success or failure of the stimulus, however, is the fact that President Obama in his latest budget plan has called for still another round of stimulus spending, this time totaling $350 billion over the next four years, for what is labeled “short-term measures for jobs growth.””

http://news.investors.com/article/601526/201202171525/obama-economic-stimulus-turns-three.htm

The Democrats took control of Congress in January 2007. Obviously Obama inherited the damage they inflicted on the economy and made it worse.

US unemployment data, from the federal government, Jan. 2007 to Jan. 2012.

More details here.

http://data.bls.gov/timeseries/LNS14000000

Obama jobs lies, Truth team facts, Real unemployment picture, Obama vs Reagan, Jobs created not lost touted

Obama jobs lies, Truth team facts, Real unemployment picture, Obama vs Reagan, Jobs created not lost touted

“the Times of the nineteenth of December had published the official forecasts of the output of various classes of consumption goods in the fourth quarter of 1983, which was also the sixth quarter of the Ninth Three-Year Plan. Today’s issue contained a statement of the actual output, from which it appeared that the forecasts were in every instance grossly wrong. Winston’s job was to rectify the original figures by making them agree with the later ones.”…George Orwell, “1984”

“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″

“Propaganda must not serve the truth, especially not insofar
as it might bring out something favorable for the opponent.”
Adolf Hitler

A habitual liar will let something slip. They often can’t keep straight the truth from the lies. Such it is with Barack Obama and the Obama Camp. Here is an example from BarackObama.com  February 3, 2012.
“23 Months of Job Growth”

 

“According to new jobs numbers released this morning, the economy added 257,000 private-sector jobs last month, making January the 23rd consecutive month of private-sector job growth.”

http://www.barackobama.com/news/entry/23-months-of-job-growth

They must believe that their followers will accept anything they promote as gospel truth. Anyone paying attention at all knows that the employment picture painted by this graph is not realistic. Here are the facts regarding this graph. Truth Team, pay close attention.

1. The Democrats took control of congress in 2007. That is when the job situation began worsening.

2. The job creation numbers Obama has used have always been suspect.

3. The jobs lost and discouraged workers dropping out of the workforce are not reflected.

Based on the lies and Orwellian attempts to mislead the public I am compelled to give this article 5 Orwells.

Ulsterman presented some interesting graphs on February 24, 2012.

“While the Obama administration and the mainstream media attempt to paint Americaas enjoying a current economic recovery – the facts tell a very different story.  After some 5 TRILLION dollars in deficit spending, job growth remains as stagnant as ever under the yoke of the Obama presidency:”

“There are a couple of interesting observations to be made from the above graphic from the Bureau of Labor Statistics. One, the steep decline in American jobs correlates to when the Democrats took over control of Congress. Coincidence? Perhaps. But then recall that Barack Obama begins his presidency in 2009 and the decline very much continues well into 2010 where it at least flatlines. 2010 was when Republicans then took control of the House of Representatives and gained a number of seats in the Senate – which the Democrats still control.
$5 TRILLION in lost taxpayer deficit dollars is quite a sum for what that chart reflects – stagnant job growth. Millions who remain unemployed. Millions more who have dropped out of even trying to find work and are therefor not even being counted in the unemployment figures.

For a bit of contrast check out thiscomparative chart detailing the Reagan recovery vs the Obama recovery. One president charged ahead with plans to greatly reduce taxes, lessen regulations, and pushes to increase domestic energy production in the United States. The other president – Barack Obama, called for more taxes, more regulation, and has fought increasing domestic energy production at every opportunity – such as his shutting down of the much-needed Keystone pipeline:”


“The truth is clear – the Obama presidency has been a near-complete disaster for working Americans.  This might explain a term growing in popularity of late – “ABO”  –  Anybody But Obama in 2012…”

 
Excellent Ulsterman!
 
For more graphs and data: