Posted on 02/25/2015 5:24:22 PM PST by Kaslin
WASHINGTON -- The new Republican Congress is just getting started, and the American people are waiting to see how lawmakers deal with the issues they care about most.
Anyone who's followed the polls over the course of the Obama administration knows that the economy and jobs have been among our strongest concerns.
The Gallup Poll reinforces this in its latest survey, asking people what they think are the biggest problems facing our country. "Economic problems" was, not surprisingly, their top concern -- mentioned by nearly 40 percent, followed by unemployment/jobs generally, the budget deficits and the federal debt, in that order.
Despite the network news telling us the Obama economy is doing great and the job market is just getting better and better, the real story on that score isn't good.
This week, Gallup's daily tracking polls put the jobless rate at nearly 7 percent, and the "underemployment rate" -- those who said they need full-time work but were forced to take part-time jobs -- at 16 percent.
And what about the economy that the news media tell us is in the midst of a job "boom" and a strong recovery?
Consider this grim headline over a new survey Gallup announced on Tuesday: "U.S. Economic Confidence Index Back in Negative Territory."
"The Economic Confidence Index fell five points from the week prior, the largest drop since July," Gallup said.
The index, Gallup explains, "is the average of two components: how Americans rate current economic conditions, and whether they say the economy is getting better or getting worse. Last week, both components dropped from the prior week."
The index showed that the economy is underperforming, wages are flat for most workers, and that a good-paying, full-time job is still hard to find.
Obama's Commerce Department provided the strongest evidence of this a few weeks ago when it reported that the economic growth rate slowed in the last three months of 2014 to a dismal 2.6 percent.
Worse, the economy barely grew at a 2.4 percent rate for all of last year -- roughly its level of performance over the past five years. Compare that to quarterly economic growth rates in 1984 that ranged from 8.5 percent to 5.8 percent under President Reagan, after a severe recession.
The New York Times reported that the plunge in GDP growth in the last quarter was in part due to a slowdown in business investment. "Many economists expect business spending to be lackluster in the coming months," said the Times. Many economists say they now see future growth in the 2.5 percent range.
One of the hallmarks of the tax cut-driven recovery in the 1980s was a boom in capital investment in new startup businesses.
But economists say this is not the case under President Obama's anti-investment policies, which have raised capital gains tax rates, the chief source of risk investment in new startups that in turn create new jobs.
Recent economic research found that the rate of new business formation sharply declined by 31 percent during the recession and has been weak ever since.
"I think there are things to be worried about, and the state of entrepreneurship is one of those things," says Mark Zandi, chief economist at Moody's Analytics.
"Unless this changes, unless we do see more entrepreneurship," stronger economic growth "will not continue," Zandi said.
We are seeing additional evidence elsewhere of how much the economy is weakening, amid dire warnings that lackluster economic growth will likely remain the hallmark of Obama's presidency in his last two years.
This week the National Association of Realtors reported that existing home sales plunged in January to their lowest rate in nine months. Sales fell 4.9 percent and were down in every region of the country.
This followed last week's report that mortgage interest rates increased for the second consecutive week to their highest level this year, as home loan applications declined 13.2 percent, the Mortgage Bankers Association said.
While some blame the weather, others pointed to rising home prices. "It's the price point, not the temperature, that is chilling builders," said Nela Richardson, chief economist for Redfin.
It was yet another manifestation of a lower-income jobs economy, according to Leonard Kiefer, chief economist at Freddie Mac, in an ominous report titled "Job Outlook Casts Shadow on Homeownership Rate."
"What we find is that many of America's fastest-growing careers (in terms of numbers of workers) have average or below average homeownership rates. At the same time, the professions with higher homeownership rates are generally headed for average or subpar growth," Kiefer writes.
"Unless there is a significant change in the job market or wages for the fastest-growing professions, the current jobs outlook does not suggest a major uptick in domestic home-buying power going into the next decade," he said.
Perhaps one of the most chilling developments in the Obama economy was the news this week that the number of property foreclosures was up by 5 percent in January -- fueled by a 15-month high in bank repossessions.
Realty Trac reports that nearly 120,000 properties were at some stage of foreclosure.
But perhaps the strongest sign of how many Americans are struggling was a little-noticed report earlier this month that said consumer spending barely rose in January. Retail sales barely budged, too, as workers tightened their belts, while nonfarm productivity fell 1.8 percent.
One final bit of bad news. Heading into last year, the typical household had only $111,000 in retirement savings, as workers dipped into their accounts to make ends meet.
Brace yourself. For the next two years, our economy is in for a bumpy ride.
There is fear, and there is FEAR.
It seems there is a lot of FEAR of Barack.
Get a free e-mail account that you can abandon later.
Get a disposable prepaid phone.
Place ads in someplace like craigslist using the new e-mail and phone as contact.
Gives you a way to double-check HR or somewhat anonymously quiz interested parties why they don’t want to work for you.
Same here in Arizona. It's inexplicable, other than to note that popular culture and television have completely broken the mental link between work and reward in many Americans. I don't know where their money is coming from, but they don't seem to want mine.
What kind of jobs Ms. Diana?
Work doing what pray tell?
What jobs in Arizona are you offering?
And the freepers claiming they have jobs for the taking won’t say what kind, it is a mystery. Maybe that’s why they are begging.
That's why I don't worry too much about whether the unemployment rate is really 6% or 20%: the unemployable rate is over 50%.
I’m a one-woman show. I have no HR to blame.
Garden Center. Above minimum wage. Fun environment, great core crew to work with.
I still have a few weeks before it hits critical mass...
What does DOE mean?
Oh yeah, no one wants to get dirty or sweaty anymore. I don’t mind work is work, honorable as long as it is honest.
It's no wonder the American Businessman is terrified of the obummer... I got this in e-mail today... It's dated but still very relevant...
Yes, he told us in advance what he planned to do. Few were listening.
The following is a narrative taken from a 2008 Sunday morning televised "Meet The Press'.
From Sunday's 07 Sept. 2008 11:48:04 EST, Televised "Meet the Press" THE THEN Senator Obama was asked about his stance on the American Flag.
General Bill Gann' USAF (ret.) asked Obama to explain WHY he doesn't follow protocol when the National Anthem is played. The General stated to Obama that according to the United States Code, Title 36, Chapter 10, Sec. 171... During rendition of the national anthem, when the flag is displayed, all present (except those in uniform) are expected to stand at attention facing the flag with the right hand over the heart. Or, at the very least, "Stand and Face It".
Senator Obama replied :
"As I've said about the flag pin, I don't want to be perceived as taking sides." "There are a lot of people in the world to whom the American flag is a symbol of oppression..." "The anthem itself conveys a war-like message. You know, the bombs bursting in air and all that sort of thing."
Obama continued: "The National Anthem should be 'swapped' for something less parochial and less bellicose. I like the song 'I'd Like To Teach the World To Sing'. If that were our anthem, then, I might salute it. In my opinion, we should consider reinventing our National Anthem as well as 'redesign' our Flag to better offer our enemies hope and love. It's my intention, if elected, to disarm America to the level of acceptance to our Middle East Brethren. If we, as a Nation of warring people, conduct ourselves like the nations of Islam, where peace prevails - - - perhaps a state or period of mutual accord could exist between our governments ......"
When I Become President, I will seek a pact of agreement to end hostilities between those who have been at war or in a state of enmity, and a freedom from disquieting oppressive thoughts. We as a Nation, have placed upon the nations of Islam, an unfair injustice which is WHY my wife disrespects the Flag and she and I have attended several flag burning ceremonies in the past".
"Of course now, I have found myself about to become The President of the United States and I have put my hatred aside. I will use my power to bring CHANGE to this Nation, and offer the people a new path. My wife and I look forward to becoming our Country's First black Family.Indeed,CHANGE is about to overwhelm the United States of America."
Yes, you read it right.
What’s the starting pay?
I have a daughter looking for work...I’ll give her a bus ticket just to come talk to you!
Depending (Up)On (past) Experience
kinda abbreviated it is:
Depending On Experience
Benefits?
People aren’t going to invest their time and effort into anything if they won’t get anything out of it, and Obama’s made his views on personal profit quite clear. Either he stops looting or things continue as they are.
Unfortunately, I get the feeling the new Republican Congress will get the blame for the rest of his presidency.
It’s not lucrative starting out but generally pays a wage that is considered “livable” with a company truck and gas card.
Oh and the work is secret? But comes with a truck and a credit card?
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