Printer Friendly Page. Our federal deficit has been slashed by more than two-thirds since President Obama took office, and deficits over the next decade are going to be around $4.7 trillion lower than what the Congress Budget Office estimated just four years ago. Instead of focusing on a federal deficit that's at its lowest point in years, Republicans should instead be focusing on the United States' real deficit problem. I agree with Republicans -- the United States has a deficit problem. It's just not the same deficit problem Republicans are freaking out about. Shortly after sweeping the November midterms, Speaker of the House John Boehner and Senate Majority Leader Mitch McConnell wrote an op-ed in The Wall Street Journal, outlining their plans for the upcoming Congress.
As usual, Boehner and McConnell were sounding the alarms over our nation's federal deficit, something Republicans like to do a near-daily basis. In a new report titled, "We Must Rebuild the Disappearing Middle Class," Sen. Instead, Sen. USA. Printing: More Misleading Official Employment Statistics. The payroll jobs report for November from the Bureau of Labor Statistics (BLS) says that the US economy created 203,000 jobs in November. As it takes about 130,000 new jobs each month to keep up with population growth, if the payroll report is correct, then most of the new jobs would have been used up keeping the unemployment rate constant for the growth in the population of working age persons, and about 70,000 of the jobs would have slightly reduced the rate of unemployment.
Yet, the unemployment rate (U3) fell from 7.3 to 7.0, which is too much for the job gain. It seems that the numbers and the news reports are not conveying correct information. As the payroll jobs and unemployment rate reports are released together and are usually covered in the same press report, it is natural to assume that the reports come from the same data. It is doubtful that the differences in the two data sets can be meaningfully resolved. Consider only the definitional differences. Unfortunately, no.
Dluhy USA. Printing: Our Descent Toward Third World Status. October 30, 2013 By Stephen Unger Third world countries are generally dominated by a tiny, wealthy upper crust, bolstered by a thin layer of people hanging on to middle class status, ruling over a mass of people at or below the poverty level. A unique combination of factors are moving the US into that world. Remedies are possible, but the prospects are dim. The long-term outlook for Americans who work for a living is indeed bleak. Doubtless, there will be some ups and downs, but an unprecedented combination of factors makes it likely that the downward trend will continue for them.
The prospects are quite different for big corporations and the super-rich. If this appraisal is not dismal enough for some people, I could discuss the assault on the Bill of Rights and our democracy in general, the real danger of a US police state, ongoing US military actions all over the world, the grossly neglected climate change threat, and other environmental and health problems. Some history References G. Paul Craig Roberts: Ignored Reality Is Going To Wipe Out the Human Race. Ignored Reality Is Going To Wipe Out the Human Race By Paul Craig Roberts October 29, 2013 "Information Clearing House - To inform people is hard slugging. Everything is lined up against the public being informed, or the policymakers for that matter. News is contaminated by its service to special interests and hidden agendas. Many scientists or their employers are dependent on federal money. Even psychologists and anthropologists were roped into the government’s torture and occupation programs.
I have been trying to inform the American people, economists, and policymakers for more than a decade about the adverse impacts of jobs offshoring on the US economy. America is a strange place. Is it too late? But we can start them back up, right? When First World wages drop, mortgage, car, credit card, and student loan payments do not drop. Jobs offshoring diminished the US tax base. In fact, entitlements consist of Social Security and Medicare. The Fukushima catastrophe has hardly begun. Why Western Political and Financial Elites Absolutely Hate Vladimir Putin.