Q1 was revised downward to -1% GDP growth. Meanwhile, the labor employment rate keeps falling. According to an article by Daniel Halper in the Weekly Standard, a shocking Record 1 in 8 American working men are not in the labor force. The Labor participation rate continues to slump and has fallen to the lowest level since 1978. Whats worse is the gap that some economists assumed came from the large number of baby boomers retirees was not as predicted. From Barons quoted in the same article, The ratio of those over 55 in the workforce actually ticked up—in other words, older Americans are being forced to return to work in a poor economy to make ends meet while many younger Americans simply aren’t working at all. In short, there is an unprecedented supply of working-age Americans who do not hold jobs. Of course, the president blamed bad weather and an extremely harsh WINTER. Gee, it couldnt be anything this administration did… BTW, what happened to global warming? More bad weather ahead…. This doesnt even get into the dynamic shift of our labor force from full-time employment to part time employment resulting from unanticipated incentives from ObamaCare or the burden created by the substantial increase in entitlement spending (including a $1.2 trillion cost of ObamaCare) and the massive increase in our national debt. We are just scratching the surface of the full economic impact of ObamaCare. Lucky us. 5 years AFTER the recession ended; 5 years AFTER the Democrat majority in Congress passed their economic stimulus programs; 5 years AFTER President Obama passed their progressive redistributive economic plan that penalizes success and rewards failure with the help of a Democratic supermajority in the Senate and a Democratic majority in the House, 1 in 6 American men in between the ages of 25-54 are not working. Neither is Obamanomics. This is a level unseen since they started taking records back in 1955. If you want your jobs you can keep them, period. This weekends offering: investors/editorial-cartoons/michael-ramirez/702921
Posted on: Sat, 31 May 2014 15:45:30 +0000
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