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Labor report for January 2013:
Posts Tagged ‘Jobs’
Posted by FactReal on February 1, 2013
Posted by FactReal on August 5, 2011
|GOVERNMENT REGULATIONS = HIDDEN TAXES
The Obama administration is making things worse by imposing bigger burdens on business…and consumers.
|(Hat tip: GatewayPundit, The Foundry)
A recent study by the Heritage Foundation analyzes Obama’s costly red tape.
Here are some highlights:
● Every product imaginable costs more because of regulations:
“The costs of regulation are inevitably passed on to consumers in the form of higher prices and limited product choices. Basic items, such as toilets, showerheads, light bulbs, mattresses, washing machines, dryers, cars, ovens, refrigerators, television sets, and bicycles all cost significantly more because of government decrees on energy use, product labeling, and performance standards that go well beyond safety—as well as hundreds of millions of hours of testing and paperwork to document compliance.”
● The annual cost of regulation — $1.75 trillion by one frequently cited estimate — represents twice the amount of individual income taxes collected last year.
● From the beginning of the Obama Administration to mid-fiscal year (FY) 2011, regulators have imposed $38 billion in new costs on the American people, more than any comparable period on record. Consider Washington’s red tape to be a hidden tax.
● Costs are routinely minimized: The actual cost of the new regulations is almost certainly higher due to under-estimation, agencies’ failures to analyze costs, and the fact that “non-major” rules aren’t even calculated.
● The regulations imposed include fuel economy and emission standards for passenger cars, light-duty trucks, and medium-duty passenger vehicles, with an annual cost of $10.8 billion; energy conservation standards for lightbulbs, with an annual cost of $700 million; constraints on “short sales” of securities, at $1.2 billion; and a slew of other costly regulations related to the Dodd–Frank financial regulation statute and Obamacare health regulations.
● More regulators, bigger budgets: In addition to the costs imposed on the private sector, regulations swell the government workforce and fatten the federal budget. According to a report, “regulatory staff at federal agencies (full-time equivalents) increased about 3 percent between 2009 and 2010, from 262,241 to 271,235, and is estimated to rise another 4 percent—to 281,832—in 2011. Federal outlays for developing and enforcing regulations are also expected to grow by 4 percent this year, from $46.9 billion in 2010 (in constant 2005 dollars) to $48.9 billion.”
● More regulations coming: American businesses and the American people continue to suffer under the regulatory burden, all while the government workforce keeps expanding and the number of regulations keep growing, with 2,785 rules in the pipeline.
● This flood of red tape will undoubtedly persist, as hundreds of new regulations stemming from the vast Dodd–Frank financial regulation law, Obamacare, and the EPA’s global warming crusade advance through the regulatory pipeline—all of which further weakens an anemic economy and job creation, while undermining Americans’ fundamental freedoms.
|Read the full study.|
Posted by FactReal on August 4, 2011
|(Dow Jones Industrial Average – 8/4/2011)|
|WALL STREET GETS THE MESSAGE: LIBERAL POLICIES ARE NOT WORKING
Despite Obama’s big government spending, the economic sector continues to show signs of weakness. Everywhere you look, the direction is downward. Today, the Dow Jones Industrial Average fell 513 points to 11,384 – erasing its gains for the year in the worst day of trading since the 2008 financial crisis. (On Sept. 29, 2008, the Dow lost 777 points after the House initially failed to approve the TARP bank bailout.) Over the last 10 trading days stocks have lost more than 10% (the traditional definition of a market correction.)
Unemployment is at 9.2%. Manufacturing and consumer spending is down. The new debt-ceiling deal will add $7 trillion or more to our national debt in the next decade. After the debt-ceiling fiasco, it is clear that tax hikes and more wasteful spending will be the Democrats’ prescription. Weak Republicans will be bullied again into submission with fake threats of debt defaults or worse.
Thus, it is not surprising that consumers and corporations are opting to keep their cash. What’s keeping them from investing? Uncertainty. Businesses are not hiring. “They don’t know if U.S. government debt will be downgraded from AAA, setting off a spike in rates across the economy. They don’t know what their tax rates will be next year. They see hundreds if not thousands of new regulations coming down the pipeline. And they hear politicians on the left — from Obama to Reid and Pelosi — routinely demonizing them. Who invests and creates jobs in such an environment?”
|Here’s a quick look at some of the key numbers at the end of what was a brutal day in New York trading:
–Dow Jones Industrial Average (^DJI): Down 512.76 points, or 4.31%, to 11,383.68
As for sectors of the market, the downturn was just as evident:
–Banks: Dow Jones U.S. Banks Index (^DJUSBK), down 10.85 points, or 5.52%, to 185.72
Here’s how a few widely held tech stocks fared (this will probably look familiar):
Posted by FactReal on July 13, 2011
|Via The Foundry|
Posted by FactReal on July 6, 2011
|OBAMA’S STIMULUS DID NOT WORK and IS NOW CAUSING THE ECONOMY TO SHED JOBS
Hat tip: Sweetness & Light
|When the Obama administration releases a report on the Friday before a long weekend, it’s clearly not trying to draw attention to the report’s contents. Sure enough, the “Seventh Quarterly Report” on the economic impact of the “stimulus,” released on Friday, July 1, provides further evidence that President Obama’s economic “stimulus” did very little, if anything, to stimulate the economy, and a whole lot to stimulate the debt.
The report was written by the White House’s Council of Economic Advisors, a group of three economists who were all handpicked by Obama, and it chronicles the alleged success of the “stimulus” in adding or saving jobs. The council reports that, using “mainstream estimates of economic multipliers for the effects of fiscal stimulus” (which it describes as a “natural way to estimate the effects of” the legislation), the “stimulus” has added or saved just under 2.4 million jobs — whether private or public — at a cost (to date) of $666 billion. That’s a cost to taxpayers of $278,000 per job.
In other words, the government could simply have cut a $100,000 check to everyone whose employment was allegedly made possible by the “stimulus,” and taxpayers would have come out $427 billion ahead.
Furthermore, the council reports that, as of two quarters ago, the “stimulus” had added or saved just under 2.7 million jobs — or 288,000 more than it has now. In other words, over the past six months, the economy would have added or saved more jobs without the “stimulus” than it has with it. In comparison to how things would otherwise have been, the “stimulus” has been working in reverse over the past six months, causing the economy to shed jobs.
The actual employment numbers from the administration’s own Bureau of Labor Statistics show that the unemployment rate was 7.3 percent when the “stimulus” was being debated. It has since risen to 9.1 percent. Meanwhile, the national debt at the end of 2008, when Obama was poised to take office, was $9.986 trillion… It’s now $14.467 trillion — and counting.
Via Bureau of Labor Statistics – Unemployment Rate 2001 through 2011
|OBAMA’S FAILED ECONOMIC RECORD