The economy shed 345,000 jobs in May and the unemployment has jumped to 9.4 percent, its highest level since 1983, and this is regarded as good news? Yes. In a way, it is good news, as it agrees with other evidence that the rate of decline in the economy is abating. Abating means it’s still declining, but not as fast, which is an obvious necessary step before the economy can find a bottom this fall and then begin actually to grow again. During last year’s political campaign and as he …
The Waxman-Markey Global Warming Tax would have a devastating effect on our economy. But don’t just take our word for it. This week we’ll be sharing the opinions of other organizations who agree that Waxman-Markey will cause massive unemployment and drive energy prices up for all Americans. Today: Myron Ebell, Director of Energy and Global Warming Policy at the Competitive Enterprise Institute. The House Energy and Commerce Committee has voted to send to the House floor probably the most destructive bill ever passed out of a congressional committee. The Waxman-Markey …
Earlier this month, Service Employee International Union President Andy Stern told the Las Vegas Sun, “We spent a fortune to elect Barack Obama — $60.7 million to be exact — and we’re proud of it.” Stern should be proud of his $60.7 million investment. There is a good chance that thanks to the Obama administration, big labor will succeed in passing legislation that has the potential to reverse big labor’s decades long decline. And that will mean less jobs and a slower economic recovery for all of us. Proponents of …
KILLS MORE JOBS AND KILLS THE ECONOMY Cap and Tax Top Ten List Cap and Trade Is a Massive Energy Tax It Will Not Make a Substantive Impact on the Environment It Will Kill Jobs It Will Cause Electricity Bills and Gas Prices to Sharply Increase It Will Outsource Manufacturing Jobs and Hurt Free Trade It Will Make You Choose Between Energy, Groceries, Clothing, and Haircuts It Will Be Highly Susceptible to Fraud and Corruption It Will Hurt Senior Citizens, the Poor, and the Unemployed the Worst It Will Cost …
Last week the Department of Labor released an employment report showing that U.S. employers shed 611,000 private sector jobs in the first three months of this year bringing the nation’s unemployment rate to 8.9%. This was bad news for Americans but even worse news for the Obama administration. In January of this year, the White House released a document lobbying Congress to pass President Barack Obama’s $787 billion stimulus package. The document, which had Council of Economic Advisers chair Christina Romer’s and Chief Economic Policy Adviser to Vice President Jared …
This past Friday the Department of Labor released the nation’s employment’s figures showing that employers shed 611,000 private sector jobs in the first three months of this year. This brought the unemployment rate to 8.9% and revealed that in President Barack Obama’s first 100 days in office, employment has dropped about 2 million jobs. Of course, President Obama’s policies cannot be blamed for all of these job losses. They are due to the Great Global Recession, which was well underway before President Obama was sworn in. The Obama administration will …
Unemployment is increasingly raising its profile in Russia’s crisis-hit economy. Last March it was at a record 40-percent high. The official data show that its level over the first quarter jumped from 6 to 7.5 million people, which is around 10 percent of Russia’s labor force. According to independent assessments, unemployment could well be even higher – 7.8-8.5 million. The authorities have responded to a sharp increase in the numbers of those laid off in a purely bureaucratic manner. If the government dislikes certain statistics, it only needs to suppress …
Under the header “It’s All On Obama Now” Los Angeles Times columnist Peter Nichols writes: Every president inherits a tangle of problems from his predecessor. War and recession, natural disaster and foreign crises. And for some undefined interval, new presidents argue that they should not be accountable for the troubles that arose on another’s watch. But inevitably, responsibility shifts. And for Obama, that time came last week, bringing both greater opportunities and greater risks. On the economy, Obama won approval Wednesday of a $3.5-trillion budget plan that aims to help …
We highlighted the Associated Press’ FACT CHECK on President Barack Obama’s deficit cutting claims this morning, but that was not the only area where Obama stretched the truth. On jobs: OBAMA: “We began by passing a Recovery Act that has already saved or created over 150,000 jobs.” – from news conference. THE FACTS: This assertion is dubious on several levels. For starters, the U.S. has lost more than 1.2 million jobs since Obama took office, according to the Bureau of Labor Statistics. Even if Obama’s stimulus bill saved or created …
Yesterday before President Barack Obama’s 100 days news conference, the Commerce Department released data showing that the U.S. economy shrank at an annual rate of 6.1% in the January-March quarter. This comes on top of a report from the Bureau of Labor and Statistics released earlier this month showing that the U.S. has lost more than 1.2 million jobs since President Barack Obama was sworn into office. Yet despite all this bad economic news Obama claimed that his stimulus $787 billion deficit spending stimulus package “has already saved or created …
