Tuesday, April 5, 2011

Employment and Job Numbers - #2786 - CHART: See the (Shocking) Numbers Behind the Jobs Numbers - The Blaze (2) GOP Aim - Cut $4 Trillion - Budget Plan Would Transfer Medicare, Reset Budget Debate, Democrats Balk - Wall Street Journal

Yesterday we showed you a depressing chart that shows “it would take until 2016 to regain the employment highs of 2006-2007.” That’s a reality check considering the media blitz the administration took part in last week trumpeting the great jobs numbers. Ready for some more? According to number-crunching blogger Jim Quinn (via Zero Hedge), the jobs numbers are leaving out some important details. Despite Obama and his crew boasting about adding 216,000 jobs last month, Quinn says the economic picture isn’t all roses and buttercups: All it took was 2.8 million Americans to leave the labor force to achieve this fabulous reduction in the unemployment rate. The percentage of Americans in the labor force of 64.2% is the lowest since 1983. The employment to population ratio of 58.5% is also the lowest since 1983. These atrocious figures are after a supposed economic recovery that has been underway for the last 18 months.  Read more and see larger version of this chart............

GOP Aim - Cut $4 Trillion - Budget Plan Would Transform Medicare, Reset Budget Debate, Democrats Balk - Wall Street Journal - Republicans will present this week a 2012 budget proposal that would cut more than $4 trillion from federal spending projected over the next decade and transform the Medicare health program for the elderly, a move that will dramatically reshape the budget debate in Washington The budget has been prepared by Rep. Paul Ryan, a Wisconsin Republican and the new chairman of the House Budget Committee, and it represents the most complete attempt so far by Republicans to make good on their promises during the 2010 midterm elections to cut government spending and deficits.  Though Rep. Ryan based the Medicare portion of his budget on a previous plan created in collaboration with a Democrat, Alice Rivlin, a senior fellow at the Brookings Institution and long-time budget expert, the current plan isn't likely to get much Democratic support. Instead, it will set up a broad debate over spending and the role of government heading into the 2012 general election.  Read more........

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