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In 2033 the OASDI Trust Fund will be exhausted which will cause about a 27% reduction in payments to those on SS.
One thing to remember on this point: the "Trust Fund" simply represents the dollar amount that the federal government can legally take out of the General Treasury to make good on SS entitlements whenever there's a SS deficit (read: for the foreseeable future, according to the Trustees).
That is, the "face value" of the fund indicates the degree to which Americans will be taxed - a second time - to put back the cash that was spent by Congress to pursue various welfare state programs, wars, Solyndra-style "investments", and all the other pork they legislate to keep those re-election votes coming.
It has picked up a lot in various sectors of Florida. Some parts of the state have a lot more job openings and a lot of money is being spent on new development, but a lot of this is due to the improving real estate market. Our moronic governor thinks the economy is so good that he only needs to give unemployment benefits of 16 weeks max. Guess he thinks Obama is doing a great job, as Scott has not had much to do with the boom. Southeast Florida is booming, as the result of external forces (foreigners--Asians, Europeans and South Americans) investing money in Florida real estate and the Blackstone Group buying up a massive amount of Florida real estate. In any event, there definitely appears to be more job openings. The tourist season is booming so the rest of the country can at least afford to take vacations--because they are here en masse.
If you liked the last five years. There will be more where that came from if you are lucky. In bad times or good someone always prospers. But in bad like now most if lucky just get by.
It has picked up a lot in various sectors of Florida. Some parts of the state have a lot more job openings and a lot of money is being spent on new development, but a lot of this is due to the improving real estate market. Our moronic governor thinks the economy is so good that he only needs to give unemployment benefits of 16 weeks max. Guess he thinks Obama is doing a great job, as Scott has not had much to do with the boom. Southeast Florida is booming, as the result of external forces (foreigners--Asians, Europeans and South Americans) investing money in Florida real estate and the Blackstone Group buying up a massive amount of Florida real estate. In any event, there definitely appears to be more job openings. The tourist season is booming so the rest of the country can at least afford to take vacations--because they are here en masse.
I saw this too, though I just left Florida two months ago. Florida's economy is picking back up again. Florida's economy does well when the real estate market does well. As soon as the real estate market started picking up again in mid 2012 Florida's economy began to improve. Scott is taking credit where credit is not due.
Most major metros in the state are now down to unemployment rates in the 5.5-6% range. Definitely an improvement over the 11-13% that they were from 2009-2011. But still nowhere near the rates seen prior to the crash. I saw graphs of Florida metros having unemployment rates as low as below 4% prior to the economic collapse.
This is a good chart to use to get an idea of where the economy is improving. Don't be fooled by North Carolina though. The unemployment drop in that state is solely because people were cut off from their benefits in the middle of the year and are no longer counted as in the labor force.
Atlanta is still VERY bad economically. I have been applying for dozens of jobs all over the place here and have only received one good bite. I went in and interviewed for an entry level position that paid $12.00. I only received the interview by cold calling places of possible employment and I luckily spoke to the right person. After about two weeks of waiting the surgery center called me back to inform me that they picked another candidate for the position. I asked if there were any interview questions that I answered inappropriately so that I can practice. She said I answered everything perfectly and that my personality was extremely pleasant. Another applicant with years of coding experience was chosen for the position.
If employers are still giving entry level jobs to applicants with years of experience over people who have college degrees and the necessary certifications to do the job then that shows there is still severe problems in the local economy. I'm going to give Atlanta another two months but if that doesn't work I am packing up and moving to Austin or Minneapolis where the unemployment rate is very low and maybe I'll find a job.
Again, worth repeating here. The economy for the average worker in the countries of early industrialization will probably not relatively improve until their average incomes more or less equalize with those in the newly industrializing countries, a process that could take another 10-30 years more or less.
As I have guessed, over the past 36 months or so and most likely going forward the economy will continue to grow at an average 0%-2% pace, maybe with some quarterly statistical spikes to the 3% area.
One positive wild card could be the shale technology breakthrough, somewhat easing the energy constraint, and maybe more technology breakthroughs will be achieved going forward, further easing constraints on growth, though still not too sure how to what extent that would benefit the average worker.
I know a guy who recently quit his wage job to go into his own vintage motorcycle repair and restoration business, and I wished him luck. Don't know if that's any better than trying to sell new motorcycles.
So, Good Luck then.
I do not agree that the economy is growing. In order to assume that is factual you would need to believe the government statistics on inflation are factual when in fact they are skewed using sustitution and hedonics https://encrypted.google.com/url?sa=...zdKqGQKTVN8PTw
I do agree however that the easing energy situation due to fracking may have some positive effect on the economy going forward, though I doubt it will offset the negative effects of globalization.
Many illegals have jobs we won't do. I don't remember the last time i saw an american delivering chinese food on a bicycle in the dead of winter.
I have seen Mexican cooks/staff in Indian/Arab owned Food places despite language barrier. They find it cheaper to hire illegals rather then giving jobs to immigrants from their country-forget about hiring Americans.
Workers at any Construction site- No one checks whether a worker is legal or illegal. Thats wrong.
I have seen Mexican cooks/staff in Indian/Arab owned Food places despite language barrier. They find it cheaper to hire illegals rather then giving jobs to immigrants from their country-forget about hiring Americans.
Workers at any Construction site- No one checks whether a worker is legal or illegal. Thats wrong.
Talked to a small business owner, he owns a motorcycle shop, and he was saying business is absolutely in the pits and the economy doing good is nothing but ridiculous nonsense. People are not confident to spend money.
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But still nowhere near the rates seen prior to the crash. I saw graphs of Florida metros having unemployment rates as low as below 4% prior to the economic collapse.
