12:17 PM, Mar 4, 2014 • By JERYL BIER
Here's a rather harsh assessment of the last four years under the Obama administration's economic policies:
Today, after 4 years of economic growth, corporate profits and stock prices have rarely been higher, and those at the top have never done better. But average wages have barely budged. Inequality has deepened. Upward mobility remains stalled. Even in the midst of recovery, too many Americans are working more than ever just to get by—let alone get ahead. And too many still are not working at all.
Though this may sound like Democratic criticism of a Republican president, in reality it is President Obama's assessment of his own record, taken from his 2015 Budget proposal just released today. Prior to the paragraph above, the president does point out what he sees his accomplishments:
After 5 years of grit and determined effort, the United States is better positioned for the 21st Century than any other nation on Earth. We have created more than 8 million new jobs in the last 4 years and now have the lowest unemployment rate in over 5 years. Our housing market is rebounding. Our manufacturing sector is adding jobs for the first time since the 1990s. We now produce more oil at home than we buy from the rest of the world. We have cut our deficits by more than half since I took office. And for the first time in over a decade, business leaders around the world have declared that China is no longer the world’s number one place to invest; America is.
We have made great progress, but we must do more to rebuild our economy on a new foundation for growth and prosperity. I believe that what unites the people of this Nation, regardless of race or region or party, young or old, rich or poor, is the simple, profound belief in opportunity for all—the notion that if you work hard and take responsibility, you can get ahead. That belief has suffered some serious blows. Over more than three decades, even before the Great Recession hit, massive shifts in technology and global competition had eliminated good, middle class jobs and weakened the economic foundations that families depend on.
9:24 AM, Feb 6, 2014 • By JEFFREY H. ANDERSON
Testifying before the House Budget Committee yesterday, Congressional Budget Office director Douglas Elmendorf said of Obamacare, “[T]he act creates a disincentive for people to work.” He declared, “[B]y providing heavily subsidized health insurance to people with very low income and then withdrawing those subsidies as income rises, the act creates a disincentive for people to work—relative to what would have been the case in the absence of that act.”
9:29 AM, Jul 29, 2013 • By GEOFFREY NORMAN
In the fifth year of "recovery," the rule seems to be that the only jobs that are available (to those who are still looking) are not full-time positions. According to a recent Gallup poll:
12:32 PM, Dec 27, 2012 • By GEOFFREY NORMAN
Edward Glaeser says “the number that sums up the year’s doldrums is the 1.27 million increase in the number of disabled Americans without jobs from November 2011 to November 2012. This statistic reflects not only the sluggish recovery but also a drifting nation, badly in need of tough medicine.”
1:36 PM, Dec 15, 2012 • By DANIEL HALPER
Secretary of State Hillary Clinton will "work from home next week" after becoming dehydrated and fainting, State Department deputy assistant secretary Philippe Reines says in a statement.
11:46 AM, Oct 22, 2012 • By JEFFREY H. ANDERSON
In the Washington Post, Robert Samuelson highlights how Obamacare would needlessly complicate our society, make it more maddeningly litigious, give the I.R.S. more prominence, and make it harder for workers to get employers to give them so much as 30 hours a week.
12:10 PM, Oct 19, 2012 • By DANIEL HALPER
This morning, as MSNBC's Morning Joe came to an end, co-host Mika Brzezinski had some praise for colleagues and the company she works for. "We've been talking a lot this week about women and equal pay and all these issues," she said. "I have to say, in all seriousness, I'm very lucky to be working with you [co-host Joe Scarborough] and for a company [MSNBC] who has actually dealt with this problem transparently."
1:09 PM, Oct 15, 2012 • By DANIEL HALPER
A new chart from the minority side of the Senate Budget Committee details the fact that, since January 2009, for every person added to the labor force, 10 have been added to those not in the labor force. Here's a chart showing the dwindling labor force:
10:22 AM, Jun 1, 2012 • By GEOFFREY NORMAN
The unemployment numbers have been released and they are dismal and, typically, unexpectedly so. Fewer than 70,000 new jobs and the least scary measure of unemployment rising from 8.1 percent to 8.2 percent. According to NPR:
2:56 PM, Apr 14, 2012 • By DANIEL HALPER
The largest donor to President Obama's super PAC blasted Ann Romney, the wife of presumptive Republican nominee Mitt Romney, last night on his HBO TV show for having "never gotten her a-- out of the house to work."
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