Jobs? or a Shell game?

[large]

The current buzz word in Congress and on O'Bummer's lips is "Jobs" . .

And the Dems are creating another dozy . . They're going to "Save" some more jobs with $82 billion dollars(US) which will come from the repayments from the banks who were loaned that very same money by . . The U.S. Guv'mint!

It's called the Dorgan-Durbin Act (or Bill) and, once again, these dumbassed Politicians are attempting an end run around common sense and basic Mathematics . .

They're saying that the money is needed to pay the States to keep Police and Firemen (and bureaucrats) from being laid off (or not being hired) . . Much the same way they "Saved" all those jobs with the last $787 billion Dollars they have spent and have little but rhetoric to show for it . .

No one with any common sense believes that the Government can create sustainable jobs, nor can they hope to save any that are paid for by the taxpayers if the taxpayers aren't working . . And Government jobs aren't revenue positive . . Hence, the government, at any level, can only create the conditions that will allow business (of all sizes) to grow, at an even pace . . Expanding as the economy will allow . . Hiring new people as the demand for products increases . .

Government injections of capital only creates temporary work for temporary workers, a simple but hard fact, and the ripple effect isn't felt to any degree because all of those who must risk capital to benefit from no more than a temporary increase in cash flow will not make the necessary investments or hires to make long term economic gains . .

I know that most of the readers of this forum understand this, but it needs to be said once in a while, for those who tend to believe that your government is the economic answer to the problems we are seeing now . .

Right now, the Congress and this Administration is doing no more than moving your money around under a walnut shell (or shells), hoping that no one will ever figure out where it's at, where it came from, or where it's going to end up . .

[Loren Swelk]

The current buzz word in Congress and on O'Bummer's lips is "Jobs" . . Right now, the Congress and this Administration is doing no more than moving your money around under a walnut shell (or shells), hoping that no one will ever figure out where it's at, where it came from, or where it's going to end up . .

Three Card Monte, now there is a game Obama and his congressional Lemmngs understand.

[large]

Duhhh, O'Bummer said one thing the other night, and then did completely another today . . His budget will triple the debt in ten years . . not to mention the unfunded Entitlements, somewhere around $200 TRILLION DOLLARS in ten years . . The Administration AND Congress need to be tarred and feathered . . all of them!

Do ya suppose he knew anything about it last Wednesday Night? Or is it something the Bush Administration popped him with this morning?

[large]

Brought over from the Global Warming thread . . .

He's already assuming revenue from Cap and Trade in his $1.6 Trillion dollar deficit. Someones got to stop this idiot.

The president’s budget plan last year assumed at least $646 billion in revenue from 2012 to 2019 from the sale of allowances (Cap and Trade), with some of the proceeds used to help fund a tax cut for middle-class families.

He's gonna "Save us from ourselves"? Tax hell out of us with a tax on light and heat, and then give us back a dime on the dollar (I'm being optomistic here) disguised as a "Tax Cut" . .

Three Card Monte isn't even a con game like this . . in Three Card Monte there's a slim chance of breaking even . . .

[Marc.N]

Shell game.

[large]

Another apparent trick Obama is trying, is to "Launder" money by , uh, slight of hand, more or less . .

The TARP money given (or forced upon) the banks that now, have been repaid, by law, must be put back into the general fund as repayment of the national debt.

Obama wants to, more or less, "Launder" it and use it on his second stimulus as "Money that doesn't count" . . They don't seem to care about the laws they built into TARP when it was invented . . Thus, with the help of Obama and his administration, a bad idea gets worse (And Illegal) . . .

[Bob Nattering]

There has been a lot of bragging that the Government will not only avoid any losses, but will make additional interest on the TARP money that was lent to the banks. However, if they're going to spend it as soon as it's repaid then that puts the Government in the same place as if the TARP money had all been lost.

It's that kind of government logic that resulted in the surplus FICA revenues being eaten up by the general fund.

[large]

Anything that goes into the "General Fund", State or Federal, ain't gonna get spent on what it was supposed to be for!

[Loren Swelk]

Watch what is going to happen to the enemployment figures when the BLS issues it's revised figures this Friday. Obama has been manipulating the figures to keep the unemployment number below 10%....he got caught and hopefully the true picture will emerge. Of course it still will be skewed with 80,000 census jobs.
http://www.bls.gov/bls/upcoming_empsit_changes.htm

[Marc.N]

Shell Game




AP

By Stephen Ohlemacher – Feb 3, 2010

WASHINGTON – President Barack Obama's plan to offer tax credits to businesses that add workers is running into opposition from some rank-and-file Democrats in the House.

[Marc.N]

The company has cut almost 14,000 jobs in the past 13 months.

Wal-Mart laying off 300 workers at Arkansas HQ

By CHUCK BARTELS, AP Business Writer Chuck Bartels, Ap Business Writer – Feb 3, 2010

LITTLE ROCK, Ark. – Wal-Mart Stores Inc. is cutting 300 administrative jobs at its headquarters as it completes a yearlong series of changes to improve performance. The company has cut almost 14,000 jobs in the past 13 months.

Wal-Mart President and CEO Mike Duke told employees about the latest layoffs in a memo on Wednesday.

"With this last major strategic piece in place, we are beginning our new fiscal year with every part of our business focused on being even more responsive to our customers," Duke wrote. He said the world's largest retailer trimmed its labor force to advance its strategy of improving its "growth, leverage and returns."

The 300 being laid off this month include workers in corporate affairs, finance, human resources, information systems and legal departments, Wal-Mart spokesman Dave Tovar said.

Wal-Mart, which generated $400 billion in sales last year, has welcomed wealthier consumers trading down from higher-price stores during the recession. But it also has noticed financial strain among its core customers, including bigger swings in spending between paychecks....

[masonranch]

Watch what is going to happen to the enemployment figures when the BLS issues it's revised figures this Friday. Obama has been manipulating the figures to keep the unemployment number below 10%....he got caught and hopefully the true picture will emerge. Of course it still will be skewed with 80,000 census jobs.
http://www.bls.gov/bls/upcoming_empsit_changes.htm

This AP article (http://finance.yahoo.com/news/Firsttime-jobless-claims-rise-apf-106391038.html?x=0&sec=topStories&pos=1&asset=&ccode=) reaffirms a couple of facts:

1 Jobless claims are continuing

2 Millions have exhausted their unemployment benefits and therefore are no longer counted in the unemployment rate.

OBAMA is trying to hide the total catastrophe he has bestowed upon us. In November, for example, if 619,000 had not been "dropped" from the labor force statistics, the unemployment rate would have been 11.5% instead of 10%.

This is no surprise because his stimulus/Jobs program are what is causing the situation. Now he wants to double down with more of the same with even more disasterous results.

What should happen is that the unused funds from the first stimulus should be returned to reduce the debt, new Jobs/stimulus spending should be scrapped. That would reduce our deficit from $1.6 Trillion to $800 Billion and give those funding our debt some confidence that we aren't going to try to inflate our way out of debt, leaving with holding the bag.

Here is a excerpt from the Ap article above. Note the real data isn't a loss of 8,000 jobs for the month, but the loss of 200,000 jobs in a single week.

The Labor Department said Thursday that new claims for unemployment insurance rose by 8,000 to a seasonally adjusted 480,000. Wall Street economists had expected a drop to 460,000, according to Thomson Reuters.

The four-week average, which smooths fluctuations, rose for the third straight week to 468,750.
.
.
.
But the so-called continuing claims do not include millions of people who have used up the regular 26 weeks of benefits typically provided by states, and are receiving extended benefits for up to 73 additional weeks, paid for by the federal government.

More than 5.8 million people were receiving extended benefits in the week ended Jan. 16, the latest data available, up from about 5.6 million the previous week.

[large]

Hmmm, where is Davide? Surely he could provide answers to all those questions . . .

[masonranch]

Fortune (http://finance.yahoo.com/focus-retirement/article/108747/next-in-line-for-a-bailout-social-security;_ylt=AnSPSzvteI8WbTvI1ZFEmjq7YWsA;_ylu=X3 oDMTE1a2pjdmxiBHBvcwMzBHNlYwNmaWRlbGl0eUZQBHNsawN0 aGVuZXh0YmFpbG8-?mod=fidelity-readytoretire)
reports that Social Security will take in less than the benefit checks it writes right now. If the interest on the IOU's is paid it is still sound, but that has to come from a bankrupt Federal Government.

No one has officially announced that Social Security will be cash-negative this year. But you can figure it out for yourself, as I did, by comparing two numbers in the recent federal budget update that the nonpartisan CBO issued last week.

The first number is $120 billion, the interest that Social Security will earn on its trust fund in fiscal 2010 (see page 74 of the CBO report). The second is $92 billion, the overall Social Security surplus for fiscal 2010 (see page 116).

This means that without the interest income, Social Security will be $28 billion in the hole this fiscal year, which ends Sept. 30.

[masonranch]

Watch what is going to happen to the enemployment figures when the BLS issues it's revised figures this Friday. Obama has been manipulating the figures to keep the unemployment number below 10%....he got caught and hopefully the true picture will emerge. Of course it still will be skewed with 80,000 census jobs.
http://www.bls.gov/bls/upcoming_empsit_changes.htm

The data showed U.S. employers unexpectedly cut 20,000 jobs in January, though the unemployment rate surprisingly fell to a five-month low of 9.7 percent.

Creative statistics. How is that you cut 20,000 (actually more like 200,000) jobs and the unemployment rate "falls to 9.7%"? Isn't it good news that people are going back to work??? Insanity in stiatistics.

At this rate we'll soon have 0% unemployment and 1 employee, everyone else will have given up and be classified as no longer looking for work.

[large]

Well, "Round Romer" just told us on the tube, that, "20,000 jobs lost wasn't as negative as one would think" . . She's just so perky . .

Bet she'd lose about half her chins and a good portion of her fat a$$ if she had to go out and hunt for a job . . Instead of telling the unemployed that "It's not as bad as it seems" . .

[masonranch]

Well, "Round Romer" just told us on the tube, that, "20,000 jobs lost wasn't as negative as one would think" . . She's just so perky . .

Bet she'd lose about half her chins and a good portion of her fat a$$ if she had to go out and hunt for a job . . Instead of telling the unemployed that "It's not as bad as it seems" . .

Socialist Europe is collapsing, the Euro is down, Oil has now fallen below $70 (that's good), Gold and Silver are in free fall, and the stock market is falling again. No one is buying OBummer's job numbers and are scared to death that he is going to shove the Health Care monstrosity down the economy's throat. Turns out that China's economy is faultering too.

Wall Street is betting on massive deflation as no one (worldwide) can afford to buy anything including oil, that's why it is falling.

Will we be able to survive this A-hole (Obama in case you don't know who).

[davide]

The sky is falling ! ! the sky is falling ! !

[large]

Masonranch observed"Turns out that China's economy is faultering too."

It has to . . who was China selling 82% of it's exports to? And we're not buying much today . . Basically because about 17% of the country isn't working (probably closer to 22% but we can't count those who won't work and depend upon the government for a living) and as demand for products decline in the USA, so it will in the rest of the world . .

Kinda like the flu . . When the USA sneezes, the rest of the world gets a fever . .

[Marc.N]

Ritter has the plan. Lets raise taxes.

[masonranch]

The sky is falling ! ! the sky is falling ! !

Count 'em 7 lies by the Messiah in under 2 minutes. (http://www.theospark.net/2009/09/video-7-lies-in-under-2-minutes.html)

[large]

The sky is falling ! ! the sky is falling ! !

Y'know, it's amazing how the Liberals look at things . .

On an issue like Anthropogenic Global warming, that was based upon less than coginent fact, and if it were to increase the temperature any or at all in 50 years, they were ready to bankrupt this country in the next two with "Cap and Trade" . . because . . "The Sky was Falling!"

On "Health Care Reform", they went against over half the country to create a set of laws that would snowball into a $200 Trillion Dollar Debt in ten years, and they needed to do it NOW, because, "The Sky was Falling!" . .

On the Economy, they pushed a $787 Billion Dollar Bill through in 7 days, Because, "The Sky was Falling!" . . with no real result . .

Nothing is different or changed except that the country owes 2.3 TRILLION DOLLARS(US) and the sky is exactly where it was when O'Blamer started telling us . . "The Sky is Falling!"

Now when we're in an economic and diplomatic sh*t slide that the Messiah has no control over, the Progressives are to ****ed stupid to realize that we now may have a problem with the stability of the sky . .

Of course, Davide is nothing more than a Progressive Democratic Contract blogger with little to beat his drum about . . So maybe his tirade shouldn't have gotten a reply . .

[large]

Count 'em 7 lies by the Messiah in under 2 minutes. (http://www.theospark.net/2009/09/video-7-lies-in-under-2-minutes.html)

Y'know, it wouldn't bother me so much that O'Blamer is a liar . . or at least a "Well Spoken" non achiever . .

The problem is . . anyone in government seems to be doing the same . . for years, probably 50 or 60, I've heard it said that you can NEVER believe Politicians . .

Why do we keep voting for them?

[Loren Swelk]

From today's Chieftain:

Over the past 12 months, employment in only two of Colorado's eleven major industry sectors has increased, the state agency said.
Government added 5,300 jobs with the gain attributable to increased federal employment for the 2010 Census and increased employment in state and local education.
Employment in education and health services increased 2,400.
The remaining nine industry sectors all declined over the year.
Employment in construction, down 28,600, experienced the largest decline of all industry sectors.
Trade, transportation and utilities declined 10,800, manufacturing lost 8,800.
Professional and business services was down 8,300 and financial activities 6,100.
Other losses included leisure and hospitality (5,400), mining and logging (4,100), information (3,800) and other services (1,000), the agency said.


I would think that this is not a good thing no matter how Obama and Biden try to spin it.

[davide]

JOBS, Its called a lagging indicator in a recovery. Watch it over the next several months and then get your depends in a BUNCH, they will fall in to place just like the rest of it is.

From the same report , you conviniently neglected to post

The Bureau of Labor Statistics reported that nonfarm payroll employment increased 162,000 in March, and the unemployment rate held at 9.7 percent. This employment increase was the largest in the past three years, and the third in the past five months. Temporary help services and health care continued to add jobs over the month. Employment in Federal government also rose, reflecting the hiring of temporary workers for Census 2010. Employment c jobs.ontinued to decline in financial activities and information.

The census jobs only added 1,900 jobs. Not much of a "SHELL GAME " Duh.


I love to hear all you boneheads screaming and demanding that the government to create jobs and pay you your medicare and medicaid and farm subsidies and social security and demand that they get out of your life at the same time.

[Loren Swelk]

Davide, I was alluding to Colorado jobs as my quote stated. You can bury us in Barack billshiat all you want, but the fact is you keep telling what your lord and saviour is going to do, not what havoc he has wreaked on the American people.

[davide]

Colorado is at 7.9% Unemployment and . . . from the same article on The Pueblo Chieftain...

"The Colorado job market continues to stabilize. Improving conditions are encouraging Coloradans to return to the labor force, contributing to the increase in the unemployment rate," Mares said.

Slowly but surely, shirley.

[large]

You still can't read. The article you're quoting shows;

Colorado Unemployment-Mar '10=7.9/Feb.'10=7.7/Mar'09=7.9

And the article header is; Jobless Numbers Stay High

The only "UP" in the article states: "The start of hiring for temporary Census Jobs kept the statewide rate from climbing more."

So where's any change? It's the same, you illiterate a$$hole . .

[Loren Swelk]

Colorado is at 7.9% Unemployment and . . . from the same article on The Pueblo Chieftain...
Slowly but surely, shirley.

Colorado has lost 59,000 jobs in the past year in those 11 catagories. Take out the census jobs and it approaches 65,000 jobs.

Stabilizing and encouraging workers to return to the labor force? Do you really think these people are only on "vacation"?

Watch over the next several months as the jobs return......OK I will do that, however Those lost 65,000 jobs will still be lost 65,000 jobs. Maybe that is the "new" stabilizing. This is the change we have all been looking for?

[davide]

Large, here is the Chieftain article.You will find the last quote i posted here. Loren, I did not say it. The writer did

http://www.chieftain.com/business/local/article_102c8ee6-49c9-11df-ba65-001cc4c002e0.html


I really hope that Colorado can join these states soon.
http://www.nytimes.com/2010/04/17/business/economy/17jobless.html?th&emc=th

I anticiapate better numbers in the coming months.

[Bob Nattering]

....................................
I anticiapate better numbers in the coming months.

Right!


928