Obamacare architect admits deception used to pass law.

[CanadianLoonie]

The USA should just go for a universal system like Europe and Canada have.

All will be made bankrupt by "free" health care, so sure I agree with you.

[freebuddy]

All will be made bankrupt by "free" health care, so sure I agree with you.

prove it.

[CanadianLoonie]

prove it.

Proof has already been posted on this forum.

[freebuddy]

Proof has already been posted on this forum.

nope.

[CanadianLoonie]

It's not my problem that your reading comprehension and/or ability to memorize is lacking.

There are more than a few economically-aware posters on this forum who have posted material detailing how unsustainable welfare-states in the West are.

My suggestion to you is to keep voting for more social spending...and to pay your taxes. Or not. Sooner or later, the system will fail.

[Bocivus]

All will be made bankrupt by "free" health care, so sure I agree with you.

No doubt about that! The amount of unfunded liabilities owed by the US is astronomical and that vast majority of it is from the welfare programs. It's only a matter of time before we are roasting a rat on a stick over a burning tire for food due to the economic collapse that is pretty much inevitable.

[Mr. Ambien]

No doubt about that! The amount of unfunded liabilities owed by the US is astronomical and that vast majority of it is from the welfare programs. It's only a matter of time before we are roasting a rat on a stick over a burning tire for food due to the economic collapse that is pretty much inevitable.

But I thought Obama was the US savior?

The Dow Jones is up 5 points, therefore America is now prosperous.

[freebuddy]

No doubt about that! The amount of unfunded liabilities owed by the US is astronomical and that vast majority of it is from the welfare programs. It's only a matter of time before we are roasting a rat on a stick over a burning tire for food due to the economic collapse that is pretty much inevitable.

Giving tax breaks to the wealthy is welfare, you are correct.

[freebuddy]

But I thought Obama was the US savior?

The Dow Jones is up 5 points, therefore America is now prosperous.

By Adam Hartung

9/05/2014

Obama Outperforms Reagan On Jobs, Growth And Investing

The Bureau of Labor Statistics (BLS) today issued Americas latest jobs report covering August. And its a disappointment. The economy created an additional 142,000 jobs last month. After six consecutive months over 200,000, most pundits expected the string to continue, including ADP which just yesterday said 204,000 jobs were created in August.

One month variation does not change a trend

Even though the plus-200,000 monthly string was broken (unless revised upward at a future date,) unemployment did continue to decline and is now reported at only 6.1%. Jobless claims were just over 300,000; lowest since 2007. Despite the lower than expected August jobs number, America will create about 2.5 million new jobs in 2014.

And that is great news.

Back in May, 2013 (15 months ago) the Dow was out of its recession doldrums and hitting new highs. I asked readers if Obama could, economically, be the best modern President? Through discussion of that question, the number one issue raised by readers was whether the stock market was a good economic barometer for judging best. Many complained that the measure they were watching was jobs and that too many people were still looking for work.

To put this weeks jobs report in economic perspective I reached out to Bob Deitrick, CEO of Polaris Financial Partners and author of Bulls, Bears and the Ballot Box (which I profiled in October, 2012 just before the election) for some explanation. Since then Polaris investor newsletters have consistently been the best predictor of economic performance. Better than all the major investment houses.

This is the best private sector jobs creation performance in American history

Unemployment Reagan v ObamaBob Deitrick: President Reagan has long been considered the best modern economic President. So we compared his performance dealing with the oil-induced recession of the 1980s with that of President Obama and his performance during this Great Recession.

As this unemployment chart shows, President Obamas job creation kept unemployment from peaking at as high a level as President Reagan, and promoted people into the workforce faster than President Reagan.

President Obama has achieved a 6.1% unemployment rate in his sixth year, fully one year faster than President Reagan did. At this point in his presidency, President Reagan was still struggling with 7.1% unemployment, and he did not reach into the mid-low 6% range for another full year. So, despite todays number, the Obama administration has still done considerably better at job creating and reducing unemployment than did the Reagan administration.

We forecast unemployment will fall to around 5.4% by summer, 2015. A rate President Reagan was unable to achieve during his two terms.

What about the Labor Participation Rate?

Much has been made about the poor results of the labor participation rate, which has shown more stubborn recalcitrance as this rate remains higher even as jobs have grown.

U3 v U6 1994-2014Deitrick: The labor participation rate adds in jobless part time workers and those in marginal work situations with those seeking full time work. This is not a hidden unemployment. It is a measure tracked since 1900 and called U6. today by the BLS.

As this chart shows, the difference between reported unemployment and all unemployment including those on the fringe of the workforce has remained pretty constant since 1994.

Source: Bureau of Labor Statistics - Databases, Tables and Calculators by Subject

Source: Bureau of Labor Statistics Databases, Tables and Calculators by Subject

Labor participation is affected much less by short-term job creation, and much more by long-term demographic trends. As this chart from the BLS shows, as the Baby Boomers entered the workforce and societal acceptance of women working changed, labor participation grew.

Now that Boomers are retiring we are seeing the percentage of those seeking employment decline. This has nothing to do with job availability, and everything to do with a highly predictable aging demographic.

Whats now clear is that the Obama administration policies have outperformed the Reagan administration policies for job creation and unemployment reduction. Even though Reagan had the benefit of a growing Boomer class to ignite economic growth, while Obama has been forced to deal with a retiring workforce developing special needs. During the eight years preceding Obama there was a net reduction in jobs in America. We now are rapidly moving toward higher, sustainable jobs growth.

Economic growth, including manufacturing, is driving jobs

When President Obama took office America was gripped in an offshoring boom, started years earlier, pushing jobs to the developing world. Manufacturing was declining in America, and plants were closing across the nation.

This week the Institute for Supply Management (ISM) released its manufacturing report, and it surprised nearly everyone. The latest Purchasing Managers Index (PMI) scored 59, two points higher than July and about that much higher than prognosticators expected. This represents 63 straight months of economic expansion, and 25 consecutive months of manufacturing expansion.

New orders were up 3.3 points to 66.7, with 15 consecutive months of improvement and reaching the highest level since April, 2004 five years prior to Obama becoming President. Not surprisingly, this economic growth provided for 14 consecutive months of improvement in the employment index. Meaning that the grass roots economy made its turn for the better just as the DJIA was reaching those highs back in 2013 demonstrating that index is still the leading indicator for jobs that it has famously always been.

As the last 15 months have proven, jobs and economy are improving, and investors are benefiting

The stock market has converted the long-term growth in jobs and GDP into additional gains for investors. Recently the S&P has crested 2,000 reaching new all time highs. Gains made by investors earlier in the Obama administration have further grown, helping businesses raise capital and improving the nest eggs of almost all Americans. And laying the foundation for recent, and prolonged job growth.

Investment Returns Reagan v ObamaDeitrick: While most Americans think they are not involved with the stock market, truthfully they are. Via their 401K, pension plan and employer savings accounts 2/3 of Americans have a clear vested interest in stock performance.

As this chart shows, over the first 67 months of their presidencies there is a clear winner from an investors viewpoint. A dollar invested when Reagan assumed the presidency would have yielded a staggering 190% return. Such returns were unheard of prior to his leadership.

However, it is undeniable that President Obama has surpassed the previous president. Investors have gained a remarkable 220% over the last 5.5 years! This level of investor growth is unprecedented by any administration, and has proven quite beneficial for everyone.

In 2009, with pension funds underfunded and most private retirement accounts savaged by the financial meltdown and Wall Street losses, Boomers and Seniors were resigned to never retiring. The nest egg appeared gone, leaving the chickens to keep working. But now that the coffers have been reloaded increasingly people age 55 70 are happily discovering they can quit their old jobs and spend time with family, relax, enjoy hobbies or start new at-home businesses from their laptops or tablets. It is due to a skyrocketing stock market that people can now pursue these dreams and reduce the labor participation rates for better pastures.

Where myth meets reality

There is another election in just eight weeks. Statistics will be bandied about. Monthly data points will be hotly contested. There will be a lot of rhetoric by candidates on all sides. But, understanding the prevailing trends is critical. Recognizing that first the economy, then the stock market and now jobs are all trending upward is important even as all 3 measures will have short-term disappointments.

There are a lot of reasons voters elect a candidate. Jobs and the economy are just one category of factors. But, for those who place a high priority on jobs, economic performance and the markets the data clearly demonstrates which presidential administration has performed best. And shows a very clear trend one can expect to continue into 2015.

Economically, President Obamas administration has outperformed President Reagans in all commonly watched categories. Simultaneously the current administration has reduced the deficit, which skyrocketed under Reagan. Additionally, Obama has reduced federal employment, which grew under Reagan (especially when including military personnel,) and truly delivered a smaller government. Additionally, the current administration has kept inflation low, even during extreme international upheaval, failure of foreign economies (Greece) and a dramatic slowdown in the European economy.

[update 10/4/14 - August jobs report revised upward to 180,000 as September jobs creation returns to 248,000 lowering unemployment rate to 5.9% - lowest unemployment number in 6 years.

[update 10/16/14 - Initial claims for unemployment drop to the lowest level in 14 years - all the way back to 2000 - indicating an improved economy, additional jobs and fewer people looking for work.]

[update 11/7/14 - Jobs created in August was revised upward to 203,000 - almost exactly where ADP had the number in August. September was also revised upward to 256,000. Unemployment falls to 5.8% as October is initially reported at 214,000, making 9 consecutive months above 200,000. ]

http://www.forbes.com/sites/adamhartung/2014/09/05/obama-outperforms-reagan-on-jobs-growth-and-investing/

[William_Clarkson]

Meh, the deception's nothing new in politics. That being said, I'm anti Obamacare so I'd prefer it hadn't passed (although since I'm not American, it's really not that big of a deal to me).

[Mr. Ambien]

Meh, the deception's nothing new in politics. That being said, I'm anti Obamacare so I'd prefer it hadn't passed (although since I'm not American, it's really not that big of a deal to me).

Evidently liberals hate corporations and corporatism but defend the corporatist insurance industry mandate Obamacare.. 'murican politics.

[Guest]

Evidently liberals hate corporations and corporatism but defend the corporatist insurance industry mandate Obamacare.. 'murican politics.

And there's that liberal word again. Too funny.

[Kragar]

By Adam Hartung

9/05/2014

Obama Outperforms Reagan On Jobs, Growth And Investing

Everyone knows that unemployment number down here are a sham, as they only take into account people receiving benefits. People who want to work but no longer receive unemployment benefits don't count as unemployed.

Labor participation (percent of people working aged 16 or older) is the lowest it has been since Carter. http://data.bls.gov/timeseries/LNS11300000

And, with the population being 50-100 million higher than Reagan's day, there are a buttload of people not working that could.

Lastly, a greater percentage of jobs today are part-time.

[Mr. Ambien]

Everyone knows that unemployment number down here are a sham, as they only take into account people receiving benefits. People who want to work but no longer receive unemployment benefits don't count as unemployed.

Labor participation (percent of people working aged 16 or older) is the lowest it has been since Carter. http://data.bls.gov/timeseries/LNS11300000

And, with the population being 50-100 million higher than Reagan's day, there are a buttload of people not working that could.

Lastly, a greater percentage of jobs today are part-time.

Change I can believe in.

[Bocivus]

Everyone knows that unemployment number down here are a sham, as they only take into account people receiving benefits. People who want to work but no longer receive unemployment benefits don't count as unemployed.

Labor participation (percent of people working aged 16 or older) is the lowest it has been since Carter. http://data.bls.gov/timeseries/LNS11300000

And, with the population being 50-100 million higher than Reagan's day, there are a buttload of people not working that could.

Lastly, a greater percentage of jobs today are part-time.

STOP MAKING SENSE!! That's not what we're about in here.

[freebuddy]

Evidently liberals hate corporations and corporatism but defend the corporatist insurance industry mandate Obamacare.. 'murican politics.

Given the choice between Obamacare and having nothing, they will take it. Offer them a universal system like Europe or Canada or Medicare for all, they would prefer that. Are the Republicans going to give them any of those? Hell no.

[freebuddy]

Everyone knows that unemployment number down here are a sham, as they only take into account people receiving benefits. People who want to work but no longer receive unemployment benefits don't count as unemployed.

Labor participation (percent of people working aged 16 or older) is the lowest it has been since Carter. http://data.bls.gov/timeseries/LNS11300000

And, with the population being 50-100 million higher than Reagan's day, there are a buttload of people not working that could.

Lastly, a greater percentage of jobs today are part-time.

Tell that to Forbes. Alot of Americans have several part time jobs adding up to the hours of a full time job.

[Mr. Ambien]

STOP MAKING SENSE!! That's not what we're about in here.

We r hate the corporashuns unless Obama tells uss to liek em.

[Mr. Ambien]

I'll just leave this here..

http://youtu.be/D5jZBRyltD8

[Kragar]

Tell that to Forbes. Alot of Americans have several part time jobs adding up to the hours of a full time job.

Do you consider that a good thing???

Part-time jobs have less benefits, and often less pay than full-time jobs.

Also, it generally takes more time and effort by the worker to get to the different job sites.

Most people consider themselves better off having a full-time job rather than more than one part-time jobs.

From an employment standpoint, we need more high-skilled jobs and more manufacturing to actually improve the labor market. A bunch of low-paying part-time jobs might sound good in speeches, but part-time jobs are not going to fix things.

People should not be trying to survive and raise a family on part-time work. There is a place in the market for Wal-Mart greeters, fast-food workers, and the like. Mostly for people entering the workforce, or retirees looking for a little something to provide a little cash.

Those that are working multiple part-time jobs to survive have it harder than someone who works a single full-time job, even if they are fortunate enough to get the same pay.

Face it: despite the economy Obama is so proud of, there are way too many people not working, and too many people not working enough hours. Go ask them how they like these jobs reports.