The Obamanation

[Happy Monkey]

Via Talking Points Memo:

[TheMercenary]

So I bet this Nazi is eating her words now...

Pelosi: Where Are the Jobs, Mr. President?

August 1, 2003


Washington, D.C. -- House Democratic Leader Nancy Pelosi released the following statement today on the Bureau of Labor Statistics' announcement that 470,000 people abandoned their job searches in July and that 3.2 million private sector jobs have been lost since President Bush took office:

“The fact is that President Bush’s misguided economic policies have failed to create jobs. Since President Bush took office, the country has lost 3.2 million jobs, the worst record since President Hoover. And today we learned that in July nearly half a million people gave up looking for a job.

“Job losses are taking a real toll on the financial security of American families. While Democrats are fighting for opportunity, jobs, and economic security for working families, Republicans continue to focus on helping those who need help the least.

“According to today’s survey, while the national unemployment rate dropped slightly, it still stands at a near record high. In addition, the unemployment rate for African Americans was still over 11 percent in July, and the unemployment rate for Hispanics was 8.2 percent in July.

“It is time for President Bush and the Republicans to get to work for all Americans, not just the elite few.”

Nancy Pelosi.

[jinx]

And today we learned that in July nearly half a million people gave up looking for a job.

How is this determined? Just wondering...

[Undertoad]

I think they measure the people who go off unemployment without having a job. Which is hardly the same as giving up looking. And they don't measure people who were never on unemployment, or who took freelance work, etc.

[TheMercenary]

Originally Posted by Happy Monkey

House Speaker Nancy Pelosi Compares Job Losses Under Presidents Obama and Bush

So how should we go about stabilizing and then correcting the worst economic trends in 60+ years?

From 2000-2009: job growth was essentially zero, economic output (as measured by GDP) saw the lowest growth in any decade, and for the first time, household net worth decreased.

Or is it just a laughing matter?

[classicman]

WASHINGTON – It's a bipartisan jobs bill that would hand President Barack Obama a badly needed political victory and placate Republicans with tax cuts at the same time. But it has a problem: It won't create many jobs.

Even the Obama administration acknowledges the legislation's centerpiece — a tax cut for businesses that hire unemployed workers — would work only on the margins.

As for the bill's effectiveness, tax experts and business leaders said companies are unlikely to hire workers just to receive a tax break. Before businesses start hiring, they need increased demand for their products, more work for their employees and more revenue to pay those workers.

"We're skeptical that it's going to be a big job creator," said Bill Rys, tax counsel for the National Federation of Independent Business. "There's certainly nothing wrong with giving a tax break to a business that's hired a new worker, especially in these tough times. But in terms of being an incentive to hire a lot of workers, we're skeptical."

Rick Klahsen, a tax expert at the accounting firm RSM McGladrey, said his clients need to see business pick up before they can hire more workers.

"If demand were increased, they are saying it will take care of itself because I will then have the motivation to go out and hire new employees," Klahsen said.

The bipartisan Senate plan would exempt businesses from paying a 6.2 percent Social Security tax on the wages of new employees, as long as the workers have been unemployed at least 60 days. The tax break would run through the end of the year.

A company could save a maximum of $6,621 if it hired an unemployed worker after the bill is enacted and paid that worker at least $106,800 — the maximum amount of wages subject to Social Security taxes — by the end of the year. The company could get an additional $1,000 on its 2011 tax return if it kept the new worker for at least a full year.

The nonpartisan Congressional Budget Office recently concluded that reducing Social Security taxes for companies that add workers would be among the most efficient ways for the government to create jobs. However, in showing how difficult it is to create jobs through tax policy, CBO estimates that such a tax break would generate only eight to 18 full-time jobs per $1 million in tax breaks.

The Senate proposal, which is more narrow than the one analyzed by CBO, is estimated to cost about $10 billion. That would add 80,000 to 180,000 jobs over the course of a year. The U.S. economy, meanwhile, has lost 8.4 million jobs since the start of the recession.

Nonetheless, supporters say it is cheaper, simpler and less vulnerable to abuse than Obama's plan, which would give a $5,000 tax credit for each new worker that employers hire and cost $33 billion.

Link
Another partisan AP article.

[TheMercenary]

Even the Obama administration acknowledges the legislation's centerpiece — a tax cut for businesses that hire unemployed workers — would work only on the margins.

As I stated earlier, smoke and mirrors to make everyone feel better, sort of like he is doing something for small business. When in fact he is not. Although I am tempted to hire my family members to get a tax break.

[classicman]

Have they been out of work long enough?

[TheMercenary]

Oh, hell yea. Easily qualified.

[xoxoxoBruce]

So will every cocksucker that's just looking for ways to scam the system, and siphon off help that would really help boost the economy.

[TheMercenary]

I guess if you feel using a legal means to hire someone to get a tax break makes one a 'cocksucker'. If it is a balance between taxes being raised to screw a small minority and trying to get a little bit back from a legal way to hire someone, why not? That is how the system works. How is that a scam of the system?

If you want to attack people who "siphon off help that would really help boost the economy" you are looking in the wrong places.

[TheMercenary]

Smoke em if you got em....

http://www.youtube.com/watch?v=6QoG5u_6kjI

[classicman]

Originally Posted by xoxoxoBruce

So will every congressperson that's just looking for ways to scam the system, and siphon off help that would really help boost the economy.

fixed that for ya.

[TheMercenary]

Hey Now Here is Job Creation For Ya! [/taxpayersdollarswasted]

POLK COUNTY (Bay News 9) -- The Polk County school district is giving away iPods to some parents.

The school district is using the device to reward parents of children with disabilities who fill out a 10-minute online survey. The district wants to know how well it's connecting with the parents and how to get parents involved in their children's education.

The district is spending about $350,000 in federal stimulus money for the iPods.

The district has more than 10,000 students with disabilities.

http://www.baynews9.com/content/36/2...10/581592.html

Waste, Fraud, and Abuse....