Friday, April 5, 2013

What Recovery?-- With Those Wretched Job Numbers Today; 663,000 Droped Out Of Labor Force; Obama To Propose Cuts in Social Security + Medicare; 848 New ObamaCare Regs Issued in One Day; ObamaCare's Top Broken Promises

Jerry Sandusky Horrified By Behavior Of Rutgers Basketball Coach...The Onion

  • The administration and its enablers keep trying to tell Americans the economy is recovering. Yes, there are a few good signs including the rise in home prices and manufacturing appear to be enjoying a minor boom. However, last week we witnessed pathetic economic growth numbers. This week we had two data points that do not reflect well on any alleged economic recovery. Today, the Department of Labor reported the nation created a "whopping" 88,000 jobs while the unemployment rate dropped to 7.6% largely due to people just dropping out of the workforce (the number who dropped out is massive: 663,000. Now 90 million people are not even looking for work. This makes labor participation lowest in 3 decades). And yesterday, first-time unemployment claims rose yet again. Even the Dow's "Halo Effect"  is not responding well to these new numbers today.
  • Oh, before I forget, the unemployment rate for government workers is 3.8%.

  • Since 2007, household incomes have fallen by 4%. Home sales are down 16%. And fuel prices are averaging $3.50 a gallon. During the mid-2000's, unemployment was averaging about 4.5%, the stock market was hitting highs at the time (14000 in 2007) and fuel prices were about $2.00 (but also fluctuated higher at times). USA TODAY
  • Also today, the president announced he will be submitting his budget next week. Early leaks point to the president proposing cuts to Social Security and Medicare. He will also offer tax increases.
  • The VA has a 900,000 backlog in disability claims. Last week, even Jon Stewart felt compelled to slam Obama for not fixing the VA's serious on-going problems with disability claims and benefits.

  • In case you missed it. The Obama administration issued 848 new ObamaCare regulations on ONE DAY several weeks ago. USA TODAY
  • And remember all those ObamaCare promises? Many have already been broken. For example, many Americans will not be able to keep their current insurance plans. The cost of health care and insurance is going UP. And, contrary to not adding a "dime" to the deficit, even the Congressional Budget Office reported that promise was bogus.
  • As millions of Americans continue to suffer, baseball is getting out of reach for a typical family of four. To attend one Yankee game, it will cost that family almost $350. For Phillies fans, it will sent them back about $260. And if you continue to be a Cub fan, that will set you back about $300. The prices are based on purchasing 4 tickets, two beers (way low), two sodas, four hot dogs, parking, two programs and two hats. Team Marketing Report

  • Keep in mind, the guy above is still in Congress.