Obama’s Economy: Another Month, Another Almost Half A Million Jobs Lost

Proof • July 1, 2009

And remember folks, Obama’s spokesman said that we can officially start judging the administration on the economy now.

July 1 (Bloomberg) — Companies in the U.S. cut more jobs than forecast in June, according to a private report today, showing the labor market will be slow to improve even as other parts of the economy indicate the recession is abating.
The 473,000 drop in the ADP Employer Services gauge followed a revised reduction of 485,000 workers in May that was smaller than previously estimated. …
“This is a weak number,” Joel Prakken, chairman of Macroeconomic Advisers LLC, said on a conference call with reporters. “It’s a pretty clear indication that, while we’re not shedding jobs as rapidly as the first part of the year, the labor market is still in a state of decline.”

May’s numbers ended up being not as bad as forecasted, but now June’s numbers are worse than forecasted. At least according to preliminary numbers. We’ll get more when the Bureau of Labor Statistics releases their monthly numbers in the next week or so.
Even so, it’s clear that the “stimulus” spending spree isn’t working. Things aren’t getting better. Things are getting worse. But I’d be willing to bet that if Obama and his fellow Democrats in Congress had done nothing, or if they’d simply promise not to raise taxes on investment or businesses (or on anything, in general), we’d be on the path to economic recovery already.
Remember, the Congressional Budget Office predicted before the “stimulus” spending spree passed that if the politicians did nothing we’d see recovery by the end of the year. Further, they said that should the “stimulus” spending pass we’d probably see a second recession once the tax hikes to (attempt to) pay for it are implemented.
So if Obama stays on the path he’s on, not only is the current recession going to be worse than it had to be, but we’re probably going to get another one right after it once taxes are raised.

Tags: Asshats, Domestic Issues, Politics

http://SayAnythingBlog.com The_Whistler_ofnd

The Liberal’s Golden Rule – We must all suffer equally!

Unless of course you are in union leadership, on welfare, paid by the government (I hate to refer to it as work) or are otherwise politically connected.
http://sayanythingblog.com/entry/america_is_back/#c397018 DINO

Here’s hoping that every last one is a republican voter or at the very least that the ones who are end up homeless.
http://SayAnythingBlog.com The_Whistler_ofnd

And it’s worth pointing out that all of these unneeded government programs subtract from the national wealth. We are poorer.

If a person’s employer didn’t pay such high taxes he’d have more money to spend on employee pay and expanding their business.

If the government workers were producing something there would be more stuff to have AT NO ADDITIONAL COST to the economy.

Everyone is better off without the waste and fraud we get from government activities.
pparets

How you doing with your “fake PHD” claim from the other thread, Dino?

Schlessinger received a Bachelor’s degree from the State University of New York at Stony Brook, and a Ph.D. in Physiology from Columbia University in 1974. Her Ph.D. dissertation was 114 pages long, and was entitled “Effects of Insulin on 3-0-Methyglucose Transport in Isolated Rat Adipocytes.”[2]

Schlessinger received her certification in Marriage, Family, and Child Counseling from the University of Southern California (USC) and lectured at the University of California, Los Angeles (UCLA), the University of California, Irvine, and Pepperdine University.

Michael Savage, is an American political satirist, radio host, author, and conservative political commentator. He is the host of The Savage Nation, a nationally-syndicated talk-radio show that airs throughout the United States on Talk Radio Network. The Savage Nation has a very large audience, ranging from 8 to 10 million listeners on 350 stations across America, making his show the 3rd largest radio talk show in the country.[2] He holds master’s degrees in medical botany and medical anthropology and he earned a Ph.D. from the University of California, Berkeley, in nutritional ethnomedicine.

ignorant STD
carrick

July 1 (Bloomberg)–Companies in the U.S. cut more jobs than forecast in June, according to a private report today, showing the labor market will be slow to improve even as other parts of the economy indicate the recession is abating.

Again, employment is a lagging indicator.
http://SayAnythingBlog.com The_Whistler_ofnd

Hopey Changie.
Brent

Just like the “other indicators”, the government can eventually make unemployment look better, too, but that doesn’t mean we are being any more economy. Prosperity ultimately means producing stuff that people want now and in the future. More and better things, too, in the future since we saved and invested… oh yeah, no we didn’t. The government’s policies are meant to force and/or encourage everyone to produce crap and consume it right now, the future be damned.
Brent

Again, employment is a lagging indicator.

Do you understand why they say that? It’s a stupid thing to say and even dumber to repeat it.
http://sayanythingblog.com/entry/america_is_back/#c397018 DINO

The use of the title “Dr” is meant to make it look like the “expert” was educated in the field they are offering their opinions when in fact they are totally unrelated.

It’s pretentious at best and meant to lend credibility where none exists.

———-
We no longer produce things in this country because capitalists and their ruling junta the republicans decided that employing slave labor overseas would net them more cash that they could shuffle around in the FIRE economy (finance, insurance and real estate). That explains why the financial sector was able to take us down and why that criminal sector was responsible for 40% of all corporate profit by 2006.

And who presided over the destruction of our more healthy, diversified economy?

REPUBLICANS.
http://insanereindeer.blogspot.com/ Kenny

Dino: “Blah blah blah. Republicans are evil. Blah blah blah. I hope they all die. Blah blah blah. I hope their children starve. Blah blah blah.”

Douchebag.
pparets

Oh, but that’s NOT what you claimed, Dino. You claimed their degrees were phony, from on-line diploma mills like Phoenix.

Both of them – neither of whom I listen to – are far more higly degreed, if not educated, than you are.

This is another example of your open-mouth-insert-foot school of debate, much like your “Texans pay 40 TIMES more for electricity than the national average” gaff of a few days ago.

As soon as you are challenged, then out comes the, “well, what I really meant to say was…” response.

ignorant STD
http://sayanythingblog.com/entry/america_is_back/#c397018 DINO

Republicans ARE evil. Sorry, that’s the same thing I heard said about liberals and dems my whole life. Now that the republican era has ended in disaster I DO hope the people who voted their dark impulses of greed and ignorance suffer the consequences, particularly when they rejoice in bad news and deflect blame onto others for what they and their filthy ideology has done.

It’s you people who must watch your dull progeny suffer for your mistaken support for republicans. It’s your declining 401ks and house values that have put your futures in jeopardy.
brain trust

So, instead of apologyzing to foreign countries for what our country has done(in his mind) maybe he should apologyze to us Americans for the complete disaster his policies are creating.

The Liberal’s Golden Rule – We must all suffer equally!
http://sayanythingblog.com/entry/america_is_back/#c397018 DINO

Stupid stems! Too blinded by selfishness and greed to see that your ideology has failed and that the world you believe is achievable is simply a fantasy for ignorant savages.

No, you won’t get that first rate, no-tax society. No, you can’t have all these services and resources for free. No, you didn’t create your relatively safe, comfortable existence on your own. No, there has never been a successful society based on every-man-for-himself. No, No and No.
http://insanereindeer.blogspot.com/ Kenny

Republicans ARE evil. Sorry, that’s the same thing I heard said about liberals and dems my whole life.

You are evil. You want those who disagree with you to die. Go get hit by a bus you piece of shit.
Neiman

Wait until the July/August figures, school districts all ovver the country are laying off workers and teachers at between 40-50% levels. When we get into September unemployment should skyrocket!
http://sayanythingblog.com/entry/america_is_back/#c397018 DINO

Hey Nieman, nice how you shitstains rejoice at bad news.

But what’s this? More billions of YOUR MONEY was just released for school funding under the stimulus plan! I hope your property taxes go up to help pay for more!

I don’t hate cons for disagreeing with me, I hate them because their ignorance and greed fucks everything up and because they’re selfish deadbeats not worth two shits.
Tony B

But how many jobs were save or created?
Tony B

When did Bush have a hands off policy? What area of the economy wasn’t regulated under Bush?
robert108

No amount of spending by the greedy govt, especially Bungler Obama’s govt, can create real jobs. All real jobs and real wealth are created by the private sector, using privately owned and controlled capital. Econ 101.
robert108

Bungler Obama’s Marxist economic policies are failing, just like they always have and always will. He’s just too stupid to know any better, having been brainwashed as a child.
http://sayanythingblog.com/entry/america_is_back/#c397018 DINO

Yeah stem, he’s supposed to create jobs but you don’t want him to implement any policies that might create any. You stems prefer a “hands off” approach like the one that led to the recession.

You should all lose your jobs.
Neiman

Dino: Are you saying schools across the nation are NOT laying off scores of teachers and other employees? The funding you refer to will not save many, if any jobs, it is too late, lay offs have already taken place big time.

Oh, in California we had the wisdom decades ago to order our government to keep their hands off property taxes.

We could save millions by stopping government funded AIDS programs (Gay disease), special programs in schools to promote homosexuality, support for homosexual parades and other pro-homosexual programs. We could stop fundigng killing babies in the womb. We could kick all illegal aliens out of the state and country and that alone would save many billions just here in Calidfornia. We could stop funding evironmental nazi’s and their insane job killing, propserity killing programs designed to save sand fleas and snail darters and other useless crap like that. In other words, we could save everyone by stopping ever damn liberal program in the state and country, all designed to buy Democrats votes and gain them absolute power at the expense of the nation.

Oh, yeah, we could save this country THIS YEAR, just by going after liberal spending programs.
Neiman

You stems prefer a “hands off” approach like the one that led to the recession.

Only problem is, a hands off approach had nothing whatsoever to do with the recession, quite the opposite, it was liberal laws and programs that caused a crisis that Obama has made many, many times worse, deliberately. You juts make stuff up and think yourself wise, while only playing the fool.
http://sayanythingblog.com/entry/america_is_back/#c397018 DINO

Social spending accounts for nearly NOTHING.

You people ran the country into the ground for the last 30 years, completely for the last 10. That’s why I hope people like you and your family suffer as much as possible for your glee at hearing bad news. Fuck you and your fake xtian mythology. Jesus never existed.
Neiman

Now exactly whay are you attacking my Christian faith?

Also, please remember the Democrats controlled Congress, the people that pass laws and spend OUR money for fifty+ of the last 60 years, so get a little perspective!
http://sayanythingblog.com/entry/america_is_back/#c397018 DINO

Conservatives controlled the country for most of the last 30 and all of the last 10 years.

Your faith is complete bullshit when you claim to be holy but hope for failure out of bitterness over losing the election. Bitter, evil conservatives often think their religion masks their inner ugliness. At least mine is upfront.
http://SayAnythingBlog.com The_Whistler_ofnd

10 years? I forget who was President in 1999 and 2000.

And who was it that ran the Senate in 2001 and 2002?
J.L.

“Your faith is complete bullshit when you claim to be holy but hope for failure.” Your`re talking about your MMGW cultists, right, Dumbo?
Neiman

Dino: (A) I never claimed as to my manner of living to be holy, righteous, good or anything like that – not ever! Not even in my heart! Quite the opposite, I am incredibly wicked and filled with all sorts of evil. I am saved solely by grace; that is, the limitless mercy of God towards my sin stained soul, not by any merit of the smallest degree of my own.

(b) I have never hoped for the failure of Lord Obama and the Democrats, except the failure of socialism, failure of any ideology that undermines my belief in Natures God, our Constitution, individual liberty and life.

(c) I have lived since FDR and in all that time, with a few very brief periods wherein the Republicans were in the majority in the Senate and only about ten years wherein they controlled both houses of Congress, the Democrats have been in the majority in the Congress and they bear full responsibility, along with far too many Republicans, for the mess we are in today, a mess which the Democrats and especially Lord Obama are making much worse by the big government, Marxist policies.
Neiman

Whistler is correct about the Senate in 2001 – 2002, which gave Republicans control of that house for only 6 years.
http://tarheelred.wordpress.com/ pino

It’s a stupid thing to say and even dumber to repeat it.

Thing is though, unemployment really is a lagging indicator.
Bat One

Thing is though, unemployment really is a lagging indicator.

True enough. And this time it is really, really gonna lag.

And all those millions of jobs Obama promised to create… we can put them with the lobbyists he promised not to hire, the tax hikes on the middle class he told us would never, ever happen (“… not one dime!”), the legislative transparency and openess he swore to provide, the era of bi-partisanship he was going to usher in, and all the spending cuts he swore to implement to offset the spending increases he called for.
robert108

Thing is though, unemployment really is a lagging indicator.

Not quite; in a normal economic fluctuation, employment is a lagging indicator, because when investment recovers, there is a delay in employment increasing after the capital investment takes place. In the Obama economy, with its hostile environment for private capital investment, unemployment is continuing to rise, due to lack of private investment. The actual “lag” would take place if and when Obama ever did anything to encourage economic growth; it would take a quarter of real growth before employment started to rise. In the Obama economy, that’s not going to happen any time soon.
http://tarheelred.wordpress.com/ pino

The actual “lag” would take place if and when Obama ever did anything to encourage economic growth; it would take a quarter of real growth before employment started to rise. In the Obama economy, that’s not going to happen any time soon.

I totally agree. I fully expect the “recession” to end but another to begin before any positive employment numbers are seen. In essence, Obama will negate any possibility of recovery.
http://insanereindeer.blogspot.com/ Kenny

“Social Spending accounts for nothing.”

If not for social spending, we would’ve had a surplus every year from FDR to present, instead of massive deficits.

Social Security and Medicare cost more than the Iraq war, yet nobody bitches about them (or their unfunded mandate). And let’s not even mention welfare.
http://sayanythingblog.com/entry/america_is_back/#c397018 DINO

Welfare at it’s PEAK accounted for 7% of the budget. Social Security and Medicare are funded separately from OUR contributions. It’s not welfare.
http://SayAnythingBlog.com The_Whistler_ofnd

Regarding Social Security if you get more benefits than you could have received investing the money it’s welfare.

The same thing goes for Medicare. In aggregate the people drawing on it now would never get this kind of benefit had they invested their money in a insurance type plan.

It’s welfare.
http://SayAnythingBlog.com The_Whistler_ofnd

You have to do that with the freeloaders or they’ll take advantage of you.
http://sayanythingblog.com/entry/america_is_back/#c397018 DINO

Freeloaders are the conservatives who take as much as they can and do backflips to get out of paying.

See, cons are like the guy who eats out with the group. Orders the expensive entree, has more drinks than anyone else. Then he hides in the bathroom until everyone else pays the check.
http://sayanythingblog.com/entry/america_is_back/#c397018 DINO

Cons: Laying awake nights worrying that they may have paid a penny more than they get back. Splitting the check and making sure those who got the blue cheese pay that extra quarter.

But then they fill their pockets with the Sweet & Low packets on their way out.
robert108

TW: It’s always good to remind the ignorant that the free enterprise system, operating in the private sector, pays for everything. Without a private sector generating the economic growth it does from fiscal conservative practices, there is no money for wasteful govt spending. CA is in the process of finding this out, and Obama’s govt will get the same message very soon.

Of course, we already know that little dino gets everything wrong.
http://SayAnythingBlog.com The_Whistler_ofnd

You mean conservatives who are happy to pay for legitimate costs of government but are unwilling to fork over money for a bunch of slackers that don’t want to work?

The basic conservative principle is that you pay your own way.

What’s funny is that you’re probably stupid enough to believe that anyone buys your garbage.
http://insanereindeer.blogspot.com/ Kenny

Welfare at it’s PEAK accounted for 7% of the budget. Social Security and Medicare are funded separately from OUR contributions. It’s not welfare.

7% of a multi-trillion dollar budget isn’t a lot of money? (Note states often kicked in too.) This is disingenuous at best and trying to be deceptive (and failing) at worst.

Moreover, SS benefits people who have never paid in, such as the chronically disabled, some of whom have never worked. It can also be used as a preemptive source of income for poorer mothers with small children (drawing on the SS for their children that hasn’t been put in yet). SS has always been a funnel. Money comes in from the working to go to the elderly. No savings. Very little left, which is always spent by politicians. Again, disingenuous at best.

Don’t worry Dino, I’ll save you the time to respond:

Squawk, stupid con-stems, sqwuak. You hate children and the elderly, and I hope Zombie Michael Jackson rapes your son! Squawk.
robert108

While SS and Medicare masquerade as investment programs, the funds confiscated for them are in the general fund(thanks, LBJ!) and so despite people paying into those funds, they are actually welfare programs, paid for by current receipts.
Had they been designed as real investment programs, the greedy govt could not have accessed those accounts for the usual wasteful social spending.

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Obama’s Economy: Another Month, Another Almost Half A Million Jobs Lost

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