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CBO slams Obama’s recovery as sluggish; labor force won’t recover for years

Discussion in 'News & Current Events' started by Revmitchell, Feb 27, 2014.

  1. Revmitchell

    Revmitchell Well-Known Member

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    The Congressional Budget Office has more bad news for President Barack Obama: His economic recovery isn’t working — and is much worse than the previous four recoveries.

    “More than four and a half years after the end of the recession, employment has risen sluggishly — much more slowly than it grew, on average, during the four previous recoveries that lasted more than one year,” the report reads. (CBO: Obama’s proposed minimum wage hike would cost 500,000 jobs by 2016)

    The CBO also lent credence to Republican insistence that the small declines in unemployment often touted by the White House are largely because of disenchanted and unemployed people dropping out of the labor force and not being counted. (RELATED: CBO triples estimate of Obamacare work force cuts to 2.3 million)

    Read more: http://dailycaller.com/2014/02/27/c...r-force-wont-recover-for-years/#ixzz2uZPozFIH

    http://www.cbo.gov/publication/4514...dBlitzEmail&utm_content=812526&utm_campaign=0

    http://dailycaller.com/2014/02/18/c...mum-wage-hike-would-cost-500000-jobs-by-2016/

    http://dailycaller.com/2014/02/04/cbo-triples-estimate-of-obamacare-work-force-cuts-to-2-3-million/
     
  2. carpro

    carpro Well-Known Member

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    The CBO is a latecomer.

    Anyone with just a moderate understanding of what drives the economy of this country has known it for years.
     
  3. thisnumbersdisconnected

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    From last July on the Phoenix Capital Research website, "Gains, pains and capital."
    [​IMG]

    Graham Summers of Phoenix went on to say ...
    This was three months before Fox Business and Fox News were onto the fact that the administration was manipulating numbers and that the "job creation" was an illusion created by counting part-time work as "newly created jobs" when the reality is most of the part-time jobs are the breakdown of one full-time job into two part-time positions so businesses don't have to pay for healthcare the ACA has made unaffordable (thus giving the lie to its name).
     
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