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We have been living the Great Depression with social programs for years doubling our national debt under just Obama.
Growth near nothing.
Job growth for our needs near nothing.
Almost 100 million able bodied employable people not participating in the workforce out of a country of 330 million.
No games about false unemployment numbers. We've been at near 30% unemployment for years now.
Zero interest rates have savaged the retirements of people who saved. Yet because we have 19 trillion in debt unless the government screws savers and retirees they/we would be having to pay more interest on the debt.
Here is where the lesson of how bad big government is. Whose benefit does all this work for, the private sector where people take taxes or for government world where they take all the stuff from you they can.
IMO you can't be a progressive/socialist/communist and make America thrive. Nothing about taking from others and giving it to your special friends and special interests for your party makes a country go.
IMO there is no way in the future we can be anything but fiscal conservatives with our money. As a conservative myself of course I believe in helping people. I can see lots of help for the real massively disabled and for the elderly. I can see temporary safety nets in society for anything else.
My reasoning for not believing we can do everything for everybody is the broke factor. Once the funds dry up SS will start when you are older still, maybe 73 with less pay out. People who need their cancer treatment in Medicaid may not have the funds there to do it.
By trying to do everything for everyone we are in fact being cruel down the line to everyone as we incapacitate ourselves to serve our fellow man.
Why not get a balanced budget, grow the economy to support more and quit obsessing about our neighbor's goods versus what we ourselves should just go out and work for?
Maybe it is time we act like adults and grow up fiscally?
Think there is a misunderstanding as it relates to the labor participation rate.
The labor participation rate was lower than it currently is between 1948-1978. It was at its lowest point in 1954 at 58.1%. Labor participation rate peaked in the lTe 90's and has been declining ever since.
The labor participation rate tends to reflect the age of the population more so than anything else. Right now, about 42.5% of the population is under 18 and 65 or older.
Government has been projecting declining labor participation rates since 2000 due to:
Aging of population
Decline in the number of working women
Increase in the number of young people attending college
The decline is projected to persist another 20-25 years.
No president or Congress can prevent the aging of the population.
I'm sorry do you not have a job and you're feeling depressed.
Your allegations seem ridiculous to me.
I am employed (just got a raise) and all my friends are employed. My employer is offering us a $500 bonus if we can recommend a new hire who is qualified for the job.
Within 1 square mile of my house there are $3.5 Billion dollars of construction, upgrades and improvements going on ... and I do don't even live in the city center downtown area.
Everywhere I pass on my way to work I see "help wanted" signs. Sure, they are places like restaurants, hotels, copy centers, cell phone stores ... not the best paying jobs, but jobs nonetheless.
Beyond my neighborhood I see something close to a boom going on ... the tallest skyscraper in the US outside NYC and Chicago under construction, developers building residential communities in the suburbs, a 50 story luxury hotel under construction, a $500,000,000 upgrade to our regional rail lines, a $1.5 Billion Science and Research facility under construction, etc., etc.
Have you been up to New York lately? The average price of a 1 bedroom apartment is now something like $3,000 a month. The Hudson Yards complex near Penn Station is under construction .... something like $12 Billion dollars.
Can it be you live is some depressed stagnant and desolate place?
I have to agree. South Florida is booming. I have a great job--the best job I've ever had and making more than I have in the past--everyone I know is employed. Very different from 2008.
Last year was the best year for car sales since 2006. The RE market is great.
It may depend on where you live. I've seen on the news that people who are living in more rural areas and feel 'left out' of the recovery are the ones who are angry and are supporting Trump. So maybe that explains a lot.
in fact, our economy tanked for 2 reasons both government caused.
1. government over regulation. CRA (Community Reinvestment Act) required banks to loan money to people who could not pay those loans back.
the bankers then sought to get things changed to accommodate that government regulation.
Enter Robert Reich (D) and Phil Gramm (R)
Then Treasury Secretary Robert Reich was very much supportive of an effort to undo a number of the provisions of Glass-Steagall
Then Senator Phil Gramm wrote the original bill in the Senate.
after a number of negotiations that involved expanding provisions of CRA, Democrats in congress got on board.
In the end the final bill was passed by 90 Senators and 362 members of congress. It was then happily signed by President Clinton
In the end our government.... both Republicans and Democrats worked really hard to undo 50 odd years of how our banking industry works... and worked quite well.... by forcing them to do things they didn't want to do (loan to people who couldn't pay) AND to deregulate them in areas that clearly are bad for America (allowing them to use derivatives (weird paper fake insurancemoney) AND allowing banks to be both investment houses and traditional banking concerns.
It was both bad regulation and bad deregulation that caused the issue.....
PS the great Dodd-Frank act that was supposed to fix the problem did in fact, NOT change either of the points of failure one iota.... it did add 3000 pages of gobbldy **** to be interpreted by the executive branch....which tends to change parties and thus economic philosophy every 8 years.
What don't you understand about the statement "largest segment?" The 100 million also includes students who are not looking for work and the disabled, neither of which are over 40 million. Without looking it up I believe the 100 million also includes somewhere around 6 million who want a job but are not looking. Since RCCCB didn't document the number, I'm not sure if he is including the actual number of unemployed or not.
All brought on by the titanic failure of "tax cuts & trickle-down."
It's proved itself to be a tough one to rebound from.
Our economy didn't collapse as a result of over-regulation or lack of corporate privilege. It went into the dumpster by allowing the "financial establishment" to write its own rules.
Sadly, there are still some who believe the myths...
So let's celebrate the 2010 'summer of recovery' announced by the obama administration.
All those 'shovel ready jobs' that were waiting to repair our infrastructure.
How about all the coal industry jobs lost?
How about all the green energy jobs promised and lost?
All the regs that bypassed congress to suffocate industries.
All we have is a preponderance of evidence of jobs lost by act of the obama administration.
those job losses add up.
CBS Moneywatch.......... "The part of the CBO's analysis that has drawn the most attention is the agency's revised forecasts concerning the ACA's impact on the labor market. Specifically one sentence: "The reduction in CBO's projections of hours worked represents a decline in the number of full-time-equivalent workers of about 2.0 million in 2017, rising to about 2.5 million in 2024."
Labor force participation rates are at historic lows.......also note the official definition......by the BLS which differs from whitehouse.gov.
"92,898,000 Americans were not in the labor force in February, according to data released from the Bureau of Labor Statistics (BLS) on Friday. The labor force participation rate is the percentage of the civilian noninstitutional population who participated in the labor force by either having a job during the month or actively seeking one.
In February, according to BLS, the nation’s civilian noninstitutional population, consisting of all people 16 or older who were not in the military or an institution, reached 249,899,000. Of those, 157,002,000 participated in the labor force by either holding a job or actively seeking one.
The 157,002,000 who participated in the labor force was 62.8 percent of the 249,899,000 civilian noninsttutional population, which matches the 62.8 percent rate in April, May, June, and October of 2014 as well as the participation rate in March of 1978. The participation rate hit its lowest level since February 1978 (62.7 percent) in September and December of 2014"
The quality of jobs has to be considered. Jobs vs careers. Most jobs created were service industry and government jobs.
Obama uses creative statistics and accounting to achieve whatever numbers required to support his political agenda. When we keep hearing false promises involving numbers,the credibility of obama diminishes exponentially. How is that 2,500$ savings each family realized from obamacare?
How about those green energy jobs and the lsot 500 million$$ just in Solyndra, not counting allthe other green energy jobs that tanked after obama 'invested' taxpayer money.
Like Pelosi said, you can now quit your job to become and artist or photographer because the PPACA freees you to follow your passion. Guess the labor force is awash now with artists and photographers.
Look at the parts and they don;t add up tothe whitehouse .gov numbers. Additionally trust in obama has diminished and he has lost credibility with the American people and the rest ofthe globe.
One part of the economy being missed is all the people (trolls?) making a living on these great machines. Those who spend their entire day typing away and have been creative enough to earn a living.
Most of which is unreported income. Sounds Southern European economy to me.
You are right.... Sec Labor.... But not a rant Old Gringo.... pointing out some historically accurate facts...
and while I don't agree with Mr. Reich on a lot of things, I respect the man. He is a brilliant fellow.
Lets be clear here, my comments on the causes of the recession was not a partisan attack. Hopefully you saw that. There is more than enough blame to go around.
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