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Keyword: obamanomics

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  • Fort Lauderdale May Limit Homeless' Ability To Urinate In Public

    04/16/2014 1:30:13 PM PDT · by SoFloFreeper · 22 replies ^ | 4/15/14 | Wilson Sayre
    How does a city strike a balance between the needs of the homeless and the needs of those around them? Those questions will be put to the Fort Lauderdale City Commission as they consider two provisions on the agenda at Tuesday’s commission meeting. At the beginning of this year, the Fort Lauderdale City commission sat down to discuss how the city could address the issue of homelessness better. Out of that came ideas about ways to protect non-homeless residents’ quality of life. One of the ordinances up for consideration would prevent homeless people from urinating or defecating in public. The...
  • 9 Of The Top 10 Occupations In America Pay An Average Wage Of Less Than $35,000 A Year

    According to stunning new numbers just released by the federal government, nine of the top ten most commonly held jobs in the United States pay an average wage of less than $35,000 a year. When you break that down, that means that most of these workers are making less than $3,000 a month before taxes. And once you consider how we are being taxed into oblivion, things become even more frightening. Can you pay a mortgage and support a family on just a couple grand a month? Of course not. In the old days, a single income would enable a...
  • Jobless claims edge unexpectedly higher

    04/03/2014 6:53:21 AM PDT · by xzins · 30 replies
    Yahoo/Reuters ^ | Apr 3, 2014, | Lucia Mutikani
    The number of Americans filing new claims for unemployment benefits rose more than expected last week, but the underlying trend continued to point to some strength in the labor market. Initial claims for state unemployment benefits increased 16,000 to a seasonally adjusted 326,000, the Labor Department said on Thursday. Economists had forecast first-time filings for jobless aid rising to 317,000 in the week ended March 29.
  • The Obama Debt Tracker - Obama doubles America's publicly held debt in just 5.2 years

    04/01/2014 3:22:05 PM PDT · by jpl · 20 replies
    The United States Department of the Treasury ^ | Monday, April 1, 2014 | The United States Department of the Treasury
    I wish that this were just another bad April Fools' Day joke, but sadly, this story is all too real. Since President Barack Hussein Obama was inaugurated into office a little over five years ago, Obama, Pelosi, and Reid have doubled America's publicly held debt, an increase of more than 6.3 trillion dollars: Date                   Debt Held by the Public         Intragovernmental Holdings   Total Public Debt Outstanding 03/31/2014        6,307,310,739,681.66          4,319,566,309,231.42          10,626,877,048,913.08 8/19/2011          12,619,319,113,193.99 ...
  • Obamanomics in Action: 260,000 College Graduates in Minimum Wage Jobs

    04/01/2014 9:09:42 AM PDT · by george76 · 29 replies
    Gateway ^ | March 31, 2014 | Jim Hoft
    The number of minimum wage workers with college degrees is still more than double what it was during the Bush years. ... If you thought paying tens of thousands of dollars for a college education guaranteed a high-paying job, think again. Obamanomics in action… 260,000 college graduates are stuck in minimum wage jobs.
  • Reaganomics Vs. Obamanomics: Two Wholly Different Outcomes

    03/26/2014 6:48:06 AM PDT · by SeekAndFind · 4 replies
    IBD ^ | 03/26/2014 | Vance Ginn
    Despite adding almost a trillion dollars to our national debt and failing to keep the unemployment rate at or below 8% as advertised, liberals consider President Obama's signature stimulus package — the American Recovery and Reinvestment Act — a success, in part because of the number of jobs it "saved." Beyond the obvious failings of the president's plan, now more than five years old, the approach is illustrative of how presidents sometimes try to stabilize an economy using fiscal policy. But there is a right way and a wrong way. Sen. Ted Cruz recently remarked on two very different fiscal...
  • 'Liberty Tax': White House, Media Attack After Drudge Pays Obamacare Opt-Out Penalty

    03/21/2014 5:55:34 PM PDT · by FreeAtlanta · 24 replies
    BREITBART.COM ^ | 21 Mar 2014, 5:04 PM PDT | Matthew Boyle
    A White House aide set off a stampede of liberal media criticism for Internet news pioneer Matt Drudge over Obamacare – but his critics don't seem to understand how small businesses pay taxes. The brouhaha started when Drudge tweeted, “Just paid the Obamacare penalty for not 'getting covered'... I'M CALLING IT A LIBERTY TAX.” Jesse Lee, the Director of Progressive Media at Barack Obama's White House, responded that that was a “Flat lie, no fee for previous year,” adding, “Scary how much influence he once had.” Lee’s response to Drudge set off a firestorm in the liberal media, with many...
  • California's employment picture: Good news and bad news

    03/21/2014 1:05:06 PM PDT · by Oldeconomybuyer · 10 replies
    Sacramento Bee ^ | March 21, 2014
    The good news is that with a recent surge of employment, California has regained virtually all of the million-plus jobs it lost during what many call the Great Recession. The bad news is that despite regaining those lost jobs, California still has one of the nation's highest jobless rates, surpassed by only a handful of other states, and it's still well above the national average of 6.7 percent. How can that be?
  • Obama's never-ending road to economic growth

    03/12/2014 6:46:03 AM PDT · by IBD editorial writer · 18 replies
    Investor's Business Daily ^ | 03/11/2014 | IBD Staff
    Obamanomics: For five years now, President Obama has been telling Americans that we "have a long way to go" before the country will see a return to prosperity. Just how long does he expect us to wait? Do a search of the White House website for "long way to go" and you come up with hundreds of hits, most of them involving President Obama or someone in his administration counseling patience on economic growth. Now, it might have made sense in mid-2009 to say that recovery from a deep recession will take time. After all, the recovery had just begun....
  • 20 Facts About The Great U.S. Retail Apocalypse That Will Blow Your Mind

    03/11/2014 12:24:53 AM PDT · by 2ndDivisionVet · 83 replies
    The Economic Collapse ^ | March 9, 2014 | Michael Snyder
    If the U.S. economy is getting better, then why are major retail chains closing thousands of stores? If we truly are in an "economic recovery", then why do sales figures continue to go down for large retailers all over the country? Without a doubt, the rise of Internet retailing giants such as have had a huge impact. Today, there are millions of Americans that actually prefer to shop online. Personally, when I published my novel I made it solely available on Amazon. But Internet shopping alone does not account for the great retail apocalypse that we are witnessing. In...
  • Illinois layoffs: Employers warn of 1,000 layoffs in coming weeks

    03/09/2014 12:38:55 PM PDT · by FreeAtlanta · 26 replies
    CHICAGOTRIBUNE.COM ^ | 7:52 a.m. CST, March 7, 2014 | Alejandra Cancino
    <p>Illinois employers warned they would lay off more than 1,000 workers in the coming months, according to notices filed with Illinois regulators in February.</p> <p>Accretive Health warned it would lay off 148 workers. The company said in January the layoffs are part of a broader restructuring in which positions will be moved from Chicago to other cities to be closer to clients. Accretive said then the layoffs could affect as many as 170 workers. The company employs about 600 people in the region.</p>
  • Report: EPA’s Global Warming Agenda Will Cost The Economy $2.23 Trillion

    03/06/2014 7:13:18 PM PST · by lbryce · 17 replies
    Daily Caller ^ | March 7, 2014 | Michael Bastasch
    The Environmental Protection Agency’s climate rules aimed at phasing out coal-fired power in favor of low-carbon fuels will come at a high cost, according to a newly released report. Over the next two decades, the EPA’s rules to fight global warming will cost the economy $2.23 trillion, raise energy prices and lower families’ incomes. Using economic models based on the federal government’s National Energy Model System, the conservative Heritage Foundation found that, by the end of 2023, EPA climate regulations will cost the U.S. nearly 600,000 jobs and reduce a family of four’s income by $1,200. EPA rules would also...
  • Study Finds Highest Income Inequality in Cities That Voted For Obama

    03/06/2014 7:38:37 AM PST · by rktman · 7 replies ^ | 3/6/2014 | Barbara Hollingsworth
    President Obama has characterized income inequality as “the defining challenge of our time,” prodding Republicans to come up with “concrete plans” to reduce it. However, a new study by the Brookings Institute shows that the highest levels of income inequality in the U.S. are found in Democratic strongholds: the nation’s largest cities.
  • (Obama-Nation) Economic Study Suggests We're Heading For A Blade Runner Future

    03/01/2014 10:01:37 AM PST · by DogByte6RER · 15 replies
    io9 ^ | February 19, 2014 | Annalee Newitz
    Economic study suggests we're heading for a Blade Runner future Earlier this month, a group of economists released the results of a massive study looking at the economic prospects of people from across the United States. What they found was that the U.S. is like a patchwork quilt of different countries, where some regions offer people the economic prospects of a typical developed nation — and other regions are more like a developing country. This study debunks a few myths about the United States, including the idea that wealthy nations have wealthy citizens. It's a powerful reminder that nations are...
  • How To Undo The Failure Of Obamanomics — Big Tax Cuts

    02/28/2014 12:11:39 PM PST · by Jim Robinson · 18 replies
    IBD ^ | 2/27/2014 | IBD Editorial
    Fiscal Policy: President Obama is putting all his political chips on raising the minimum wage to 10.10 an hour, but so far that issue isn't gaining much political traction. The 500,000 job losses confirmed last week by the Congressional Budget Office certainly were a mortal wound to the legislative push — as well they should be when we have nearly 20 million Americans already unemployed or underemployed. But most Americans have a much bigger concern than raising the minimum wage. Only about 5% of workers make that little (the average is well above $20 an hour), and most receiving the...
  • Wells Fargo cuts 700 mortgage jobs

    02/27/2014 5:50:54 AM PST · by 2ndDivisionVet · 16 replies
    The Minneapolis/St Paul Star Tribune ^ | February 27, 2014 | Jennifer Bjorhus
    Wells Fargo cuts 700 employees, including 203 in the Twin Cities, as demand for mortgages declines.Wells Fargo & Co. said Wednesday that it is cutting 700 employees, including 203 in the Twin Cities, as demand for mortgages continues to shrink. The San Francisco-based bank said it notified affected employees Wednesday, and that almost all of them work at the Wells Fargo Home Mortgage campus in south Minneapolis. Some work elsewhere in the Twin Cities. The cuts follow scattered layoffs in the Twin Cities in January in which Wells Fargo laid off fewer than 30 mortgage-related workers. “We currently expect mortgage...
  • Half of General Dynamics Lynn Haven Work Force Looking For Jobs, Again. (730 people)

    02/27/2014 5:53:03 PM PST · by FreeAtlanta · 16 replies
    WJHG.COM ^ | Updated: Thu 7:39 AM, Feb 27, 2014
    LYNN HAVEN, Fla. General Dynamics has sent letters to 730 of its employees at the ObamaCare call facility that they are being laid off. That's about half of the workforce at the facility in the old SalleMae facility at the Lynn Haven Industrial park. U.S. Rep. Steve Southerland, II of Panama City says the loss of 730 Bay County jobs is a stark reminder of America’s transformation into a part-time, short-term society. The Congressman told NewsChannel 7, " I am saddened that these hardworking men and women are paying the price for the Obama administration’s unyielding pursuit of a job-crushing,...
  • Stand with President Obama on spending

    02/19/2014 7:50:31 PM PST · by 2ndDivisionVet · 18 replies
    The Charleston Daily Mail ^ | February 19, 2014 | Don Surber
    Name the tea party wacko extremist who said this: "The fact that we are here today to debate raising America's debt limit is a sign of leadership failure. It is a sign that the U.S. government cannot pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our government's reckless fiscal policies." Who said that: Ted Cruz, Sarah Palin or Sean Hannity? Name the tea party wacko extremist who said this: "Increasing America's debt weakens us domestically and internationally. Leadership means that the buck stops here. Instead, Washington is...
  • 42+% Black Teenage Unemployment Rate? Price Them Completely Out-of-the-Market w/$10 Min Wage!

    02/19/2014 9:25:44 AM PST · by Reaganite Republican · 25 replies
    Reaganite Republican ^ | 19 February 2014 | Reaganite Republican
    CBO report says $10 minimum wage would zap 500,000+ jobs... The guaranteed way of holding the poor, the minorities  and the disenfranchised out of the mainstream is  if you price their original services too high..." -Art Laffer Although Rep Duncan Hunter (R-Ca) attmepted to floor a bill a couple years back that would have forced the (now politicized) US Labor Department to publish real unemployment numbers -ones that actually reflect the all-time-record number of Americans who have given up/left the labor force- we still can't believe a word from this vile regime, and have to settle for outside estimates...
  • American TV & Appliance closing all 11 stores; 989 will lose jobs

    02/17/2014 5:12:56 PM PST · by Graybeard58 · 27 replies
    TMC News ^ | February 17, 2014 | Not Attributed
    Doug Reuhl, president and CEO of American since 1988, blamed an unforgiving economy, especially over the past five years, for the closure and said the company would begin a going-out-of-business sale Thursday to liquidate its entire inventory of furniture, electronics and appliances. "While this is a sad moment, it is also a proud moment," Reuhl said in a news release. "It's a moment to be proud of our efforts and to be proud of what we have delivered to the community." A switchboard operator at American TV refused to answer additional questions Monday or transfer a reporter to anyone else,...
  • The Briefcase Returns to End Our Obamanomic Malaise: Boom-Chuck-A-Luck-A

    02/17/2014 7:29:51 AM PST · by NOBO2012 · 3 replies
    Michelle Obama's Mirror ^ | 2-17-2014 | MOTUS
    Big Guy went to Sunnylands, the former Annenberg estate at Rancho Mirage, last week to command the oceans to recede faster in order to end California’s drought caused by global warming. He also called for more federal dollars for a "climate resilience fund" to pay for “research, preparation and infrastructure to deal with extreme weather and new conditions associated with shifts in the weather” (also known as “seasons”).“Yeah, I need about a billion dollars for snowplows in California.Know anybody who can do that?”It’s all part of his "Climate Action Plan" that Big Guy unveiled last summer, and if Congress won’t...
  • Democrat Logic: Lose Your Job and Feel Liberated

    02/08/2014 8:14:59 PM PST · by SeekAndFind · 21 replies
    American Thinker ^ | 02/08/2014 | Brian C Joondeph, MD
    This week, a report from the Congressional Budget Office acknowledged that ObamaCare would reduce full-time employment by 2.5 million over the next ten years. And that is on top of news that 92 million Americans who could be working are not. What a devastating assessment for the unemployed or underemployed, particular millenials seeking to transition from internships and part-time jobs to career-building full-time jobs. Yet the predictable spin from the White House and major media outlets is that this is good news, liberating workers from the chains of employment. To quote President Obama, from the 2008 campaign, "You can put...
  • US to get approximately $17.2T debt limit Friday

    02/07/2014 11:13:26 AM PST · by mdittmar · 22 replies
    ABC News ^ | February 7, 2014 | ANDREW TAYLOR Associated Press
    The U.S. government is getting a new borrowing cap Friday, almost four months after Washington defused October's government shutdown and debt crisis. The new cap on borrowing is expected to be about $17.2 trillion. It means Treasury Secretary Jacob Lew will have to employ bookkeeping maneuvers to keep the government functioning until Congress further raises the borrowing limit. Lew warns he has less maneuvering room now than he had last year, when such "extraordinary measures" bought five months of time for the government to keep borrowing while at the previous $16.7 trillion debt ceiling. Lawmakers temporarily suspended the borrowing limit...
  • Democrats new argument on Obamacare jobs decline: It reduces ‘job lock’

    02/05/2014 12:16:41 PM PST · by SeekAndFind · 33 replies
    Washington Post ^ | 02/05/2014 | Aaron Blake
    Democrats are increasingly employing a new tack in the battle over a projected reduction of two million jobs due to Obamacare, saying the decline is actually the result of people not being required to work anymore when they don't want to -- a concept labeled "job lock.""Yesterday, the CBO projected that by 2021 the Affordable Care Act will enable more than 2 million workers to escape 'job-lock' – the situation where workers remain tied to employers for access to health insurance benefits," House Minority Leader Nancy Pelosi's (D-Calif.) office said in a news release.The release continued: "In addition to being...
  • 28 Points Of Comparison Between 1970s America And America Today – Which Do You Think Is Better?

    02/05/2014 5:40:07 AM PST · by 2ndDivisionVet · 94 replies
    The Truth ^ | January 29, 2014 | Michael Snyder
    If you could go back and live in America during the 1970s would you do it? Has the United States become a better place to live over the past 40 years or have things gotten worse? Without a doubt there are arguments that can be made both ways. For example, who really wants to go back to a time when you actually had to “dial” a phone or rewind a cassette tape in order to find your favorite song? On the other hand, wouldn’t it be nice to live at a time when virtually everyone could find a good job,...
  • Why stronger GDP growth isn't creating more jobs

    01/31/2014 7:14:17 AM PST · by SeekAndFind · 35 replies
    FORTUNE ^ | 01/30/2014 | By Stephen Gandel, senior editor
    The government said GDP rose 3.2% in the last three months of 2013 -- one of the fastest rates since the end of the recession, though slower than the third quarter's 4.1%. Still, that sounds good, until you remember this: Employers only added 74,000 jobs in December -- one of the worst months in nearly three years. Stronger economic growth is supposed to equal more jobs. So what gives? It does appear that the normal relationship between jobs and GDP has broken down. In the first half of 2013, for instance, GDP growth was at 1.9% and employers added an...
  • Nearly Half of America Lives Paycheck-to-Paycheck

    01/31/2014 5:26:06 AM PST · by Sir Napsalot · 37 replies
    Time ^ | 1-30-2014 | Christopher Matthews
    The economic picture is looking brighter these days. The federal government announced Thursday that economic growth had picked up to its fastest pace in two years, while employment growth over the past five months has averaged a healthy 185,000 new jobs. But as evidenced by a report out Thursday from the Corporation for Enterprise Development, nearly half of Americans are living in a state of “persistent economic security,” that makes it “difficult to look beyond immediate needs and plan for a more secure future.” In other words, too many of us are living paycheck to paycheck. The CFED calls these...
  • Allen West: I’m Waiting for Obama to Apply “Income Equality” to Jay Z and Beyonce

    01/27/2014 5:01:28 PM PST · by SoFloFreeper · 32 replies
    Before we get to that,… just what the hell is this Hip-Hop-Nevo-Nazi-Fux-Ilimuniati-New-World-Order Salute???Anyway, Thank you Allen West:Alas, this week we’ve found the theme upon which President Obama and the progressive socialist Left will now stake their claim: equality....Shall we turn to Lebron James and tell him he doesn’t deserve any more in income or compensation, than the 12th listed person on the Heat roster? Shall President Obama and his pay czar decide what the base level compensation must be across the NBA? Will the Obama administration turn to Roger Goodell, Commissioner of the NFL, and instruct him on team salary...
  • Wall Street advisor: Actual unemployment is 37.2%, 'misery index' worst in 40 years

    01/21/2014 11:46:47 AM PST · by F15Eagle · 249 replies via Drudge ^ | JANUARY 21, 2014 AT 1:08 PM | By PAUL BEDARD
    Don't believe the happy talk coming out of the White House, Federal Reserve and Treasury Department when it comes to the real unemployment rate and the true “Misery Index.” Because, according to an influential Wall Street advisor, the figures are a fraud. In a memo to clients provided to Secrets, David John Marotta calculates the actual unemployment rate of those not working at a sky-high 37.2 percent, not the 6.7 percent advertised by the Fed, and the Misery Index at over 14, not the 8 claimed by the government. Marotta, who recently advised those worried about an imploding economy to...
  • Layoff

    01/15/2014 6:02:05 PM PST · by annalex · 9 replies
  • Economic Expert Hunter Lewis: We Are in a Depression!

    01/14/2014 10:15:13 AM PST · by xzins · 46 replies
    Breitbart ^ | 13 Jan 2014 | Robert Wilde
    On Sunday, Hunter Lewis, Founder and former CEO of Cambridge Associates, told Breitbart News Executive Chairman and host Stephen K. Bannon that, "We are in a depression." Lewis delivered his assessment of the U.S. Economy on Breitbart News Sunday on Sirius XM Patriot radio channel 125. He explained that part of the reason the economy is in such a shambles and the political system is in such a shambles is bad economic policies that have fed special interest groups, instead of supporting the middle class and the poor. And those same policies have given us crony capitalism. Hunter, ....has served...
  • Under Obama, Youth Misery Index Hits All-Time High (Increased 18.1% Under BHO)

    01/13/2014 7:06:04 PM PST · by DogByte6RER · 10 replies
    The College Fix ^ | January 9, 2014 | Jennifer Kabbany
    Under Obama, Youth Misery Index Hits All-Time High A Youth Misery Index that measures young Americans’ woes has skyrocketed under President Barack Obama and hit an all-time high. The index, released Wednesday, was calculated by adding youth unemployment and average college loan debt figures with each person’s share of the national debt. While it has steadily grown over the decades, under Obama the figure has shot up dramatically, from 83.5 in 2009 to 98.6 in 2013. The index has increased by 18.1 percent since Obama took office, the highest increase under any president, making Obama the worst president for youth...

    01/10/2014 1:13:05 PM PST · by Jim Robinson · 20 replies
    Breitbart ^ | Jan 10, 2014 | By Mike Flynn
    Friday's December jobs report, showing the economy added just 74k jobs last month was itself a major disappointment. Economists had expected the economy to add around 200k jobs. Looking into the details of the report, however, reveals an even bleaker picture of the labor market. Well over half the jobs added in December, 40k, were in temporary employment. The biggest sectors to see job growth in December were retail and wholesale trade, in addition to temporary services. Together, these sectors added over 100k jobs, meaning the rest of the economy shed jobs last month. Temporary jobs are obviously just that...

    01/10/2014 12:54:38 PM PST · by Jim Robinson · 132 replies
    Breitbart ^ | Jan 10, 2014 | By Mike Flynn
    Friday's December jobs report was a major disappointment, showing the economy gained just 74k jobs last month. Economists had expected the economy to gain around 200k jobs. The unemployment rate, however, dropped to 6.7% as 347k frustrated job-seekers gave up and left the labor force. We are in an upside-down world where a drop in the unemployment rate is a bad sign for the economy. The overall labor force shrunk dramatically last year. In December 2012, 155.4 million workers had a job or were actively looking for one. Last month, though, 154.9 million were in the labor force, a drop...
  • Cruz: All of America Needs to be a Real "Promise Zone"

    01/09/2014 1:02:34 PM PST · by Jim Robinson · 36 replies ^ | January 9, 2014 | Ted Cruz
    WASHINGTON, DC -- U.S. Sen. Ted Cruz, R-Texas, released the follow statement regarding President Obama's "Promise Zones" announcement: "It's altogether fitting that President Obama is today talking about income inequality because income inequality has increased dramatically as a direct result of his economic policies. Out-of-control government spending, debt, taxes, and regulations have killed millions of jobs. Unfortunately, rather than stop Washington's job-killing policies, President Obama proposes yet more government spending and debt. People need jobs. All of America needs to be a real 'Promise Zone'--with reduced barriers to small businesses creating private-sector jobs--and we should start by repealing every word...
  • Macy's laying off 2,500

    01/09/2014 3:02:17 AM PST · by SoFloFreeper · 82 replies
    CNN ^ | 1/9/14
    The axe is falling at Macy's. The department store operator said Wednesday that it was laying off 2,500 workers and closing five stores. The company is also consolidating its regional management and restructuring its retail and merchandise planning staff. "[W]e have identified some specific areas where we can improve our efficiency without compromising our effectiveness in serving the evolving needs of our customers," Macy's CEO Terry Lundgren said in a statement.
  • From the Pentagon to life in a van

    01/06/2014 6:47:49 AM PST · by LSUfan · 81 replies
    Philadelphia Inquirer ^ | 5 January 2014 | Julie Zauzmer
    After a 30-year military career in which he earned three graduate degrees, rose to the rank of colonel, and served as an aide to Pentagon brass, Robert Freniere can guess what people might say when they learn he's unemployed and lives out of his van: Why doesn't this guy get a job as a janitor? Freniere answers his own question: "Well, I've tried that."
  • The Most Homeless Children In New York City Since The Great Depression

    12/10/2013 6:23:07 AM PST · by IbJensen · 36 replies
    Mens' News Daily ^ | 12/9/2013 | Michael Snyder
    At a time when Wall Street is absolutely swimming in wealth, New York City is experiencing an epidemic of homelessness. According to the New York Times, the last time there was this many homeless children in New York City was during the days of the Great Depression. And the number of homeless children in the United States overall recently set a new all-time record. As I mentioned yesterday, there are now 1.2 million public school kids in America that are homeless, and that number has gone up by about 72 percent since the start of the last recession. As Americans,...
  • CBO:Top 40% Paid 106.2% of Income Taxes; Bottom 40% Paid -9.1%, Got Avg of $18K in 'Transfers'

    12/09/2013 2:13:34 PM PST · by SoFloFreeper · 19 replies
    CNS ^ | 12/9/13 | Terence P. Jeffrey
    The top 40 percent of households by before-tax income actually paid 106.2 percent of the nation’s net income taxes in 2010, according to a new study by the Congressional Budget Office. At the same time, households in the bottom 40 percent took in an average of $18,950 in what the CBO called “government transfers” in 2010.
  • November Payrolls Rise By 203K, Higher Than Expected; Unemployment Rate Drops To 7.0%

    12/06/2013 5:45:15 AM PST · by Zakeet · 29 replies
    Zero Hedge ^ | December 6, 2013
    Last month, the expected NFP print was 120K, instead we got 204K. Today, the expectations was 185K, while the print, was almost an identical 203K, even as last month's was revised modestly lower to 200K. The unemployment rate dropped from 7.2%, which was also the expected, to only 7.0%. The Fed is looking at these numbers and thinking: "taper." From the Establishment survey: Total nonfarm payroll employment increased by 203,000 in November. Job growth averaged 195,000 per month over the prior 12 months. In November, job gains occurred in transportation and warehousing, health care, and manufacturing. (See table B-1.) From...
  • Hundreds line up for food voucher distribution [A Glimpse of the Future if Amnesty Passes]

    12/04/2013 2:31:40 AM PST · by SoFloFreeper · 30 replies
    wsvn ^ | 12/3/13
    South Floridians looking for some holiday help are lining up for the chance to get their hands on a voucher that will guarantee them a basket full of food... Voucher distribution will begin Wednesday at 8 a.m. and will be given to the first 3,000 people in line. Recipients will then return on Dec. 18 for the food distribution. Only one ticket per household will be given. It's a tradition for many here, just like Black Friday shopping is for others. "I've been here since Saturday, Saturday in the morning," said one resident. "From Saturday in the morning with my...
  • Housing data brightens U.S. economic growth outlook (Spin Alert: Prices and Interest Rates Rise)

    11/26/2013 3:04:15 PM PST · by xzins · 2 replies
    Reuters ^ | 26 Nov 13 | Lucia Mutikani
    Permits for future U.S. home construction hit a near 5-1/2 year-high in October and prices for single-family homes notched big gains in September, suggesting a run-up in mortgage interest rates has not derailed the housing recovery. The data releases on Tuesday were the latest signs of strength in the economy, despite headwinds from rising mortgage rates and last month's partial government shutdown. "The reports reinforce the notion that the housing sector is successfully digesting the summer mortgage rate pop," said Mike Englund, chief economist at Action Economics in Boulder, Colorado. Building permits jumped 6.2 percent last month to an annual...
  • Butterball warns of a turkey shortage

    11/19/2013 4:30:00 AM PST · by SoFloFreeper · 27 replies
    Fox ^ | 11/18/13
    If you're planning on serving your family a fresh turkey this Thanksgiving, you may be hard pressed to find one available at your local supermarket. Less than two weeks before the year's greatest food holiday, Butterball, the nation's largest producer of turkeys, is warning of a shortage of birds. Butterball announced that it will be shipping out half as many large, fresh never-frozen turkeys to retailers this year. The company says many of its birds had trouble gaining weight during the production process. And though the cause of the problem remains a mystery, food distributors say their orders for turkeys...
  • Economic woes for young people means less mobility ( 50 year low )

    11/15/2013 7:15:20 PM PST · by george76 · 26 replies
    ap ^ | November 14, 2013
    U.S. mobility for young adults has fallen to the lowest level in more than 50 years as cash-strapped 20-somethings shun home-buying and refrain from major moves in a weak job market. The new 2013 figures from the Census Bureau, which reversed earlier signs of recovery, underscore the impact of the sluggish economy on young people, many of them college graduates, whom demographers sometimes refer to as "Generation Wait." Burdened with college debt or toiling in low-wage jobs, they are delaying careers, marriage and having children. Waiting anxiously for their lucky break, they are staying put and doubling up with roommates...
  • Here's What Obama's Economic Growth Looks Like, in Three Charts

    11/14/2013 8:12:15 AM PST · by pabianice · 5 replies
    Here's What Economic Growth Looks Like, in 3 Charts: There's no doubt that the government shutdown caused unnecessary damage to the economy in October. But there's still a good story to tell: The economy is growing steadily. Here's what that looks like. 7.8 million private sector jobs have been added to the economy in just 44 months (see chart 1)! Real economic growth averaging 2.3%! (see chart 2) The 2013 deficit is just half of what Obama inherited from Bush! (see chart 3)
  • Initial Jobless Claims Were Higher Than Expected

    11/14/2013 5:59:54 AM PST · by SoFloFreeper · 13 replies
    Business Insider ^ | 11/14/13 | Sam Ro
    The Department of Labor's latest out. Claims fell to 339,000 from last week's 341,000 reading. This was worse than the 330,000 expected....last week's number was revised up from 336,000.
  • Whopping 932,000 Drop Out Of Labor Force In October; Participation Rate Drops To Fresh 35 Year Low

    11/08/2013 6:13:43 AM PST · by Zakeet · 34 replies
    Zero Hedge ^ | November 8, 2013
    Complete Headline: Whopping 932,000 Americans Drop Out Of Labor Force In October; Participation Rate Drops To Fresh 35 Year Low The only two charts that matter from today's distorted non-farm payrolls report. First, the labor force participation rate, which plunged from 63.2% to 62.8% - the lowest since 1978! But more importantly, the number of people not in the labor force exploded by nearly 1 million, or 932,000 to be exact, in just the month of October, to a record 91.5 million Americans! This was the third highest monthly increase in people falling out of the labor force in US...
  • US employers add 204,000 jobs in October, unemployment rate rises to 7.3 percent

    11/08/2013 5:46:31 AM PST · by SoFloFreeper · 19 replies
    US employers add 204,000 jobs in October, unemployment rate rises to 7.3 percent.
  • U.S. Economic Confidence Plunges in October [Worst 1 month drop since 2008!]

    11/05/2013 8:49:24 AM PST · by SoFloFreeper · 59 replies
    Gallup ^ | 11/5/13 | Alyssa Brown
    Sixteen-point drop to -35 is sharpest in any month since Gallup Daily tracking began... Americans' confidence in the U.S. economy sank for the month of October amid the partial U.S. government shutdown and partisan bickering over the federal debt limit.....
  • Fed says economy too weak to begin taper

    10/30/2013 11:45:36 AM PDT · by Oldeconomybuyer · 23 replies
    MarketWatch ^ | October 30, 2013 | By Greg Robb
    The Federal Reserve decided Wednesday to hold monetary policy steady, saying that conditions remained too weak to pull back from its bond-buying program. By a vote of 9 to 1, the Fed decided to maintain the pace of its monthly asset purchases at $85 billion-a-month.