Unemployment rate falls to 8.5% pointing to continued improvement in labor market

Tax cuts were not on FICA so as usual you make no sense

 

That is because FICA was not meant to be part of the general fund. Democrats did that to steal more money for their special interests

 

FICA taxes have been put into the general fund for 50 years.

 

Notice once again Obama's figures are wrong. When will he put Unemployment back up to 8.6%?

http://www.cnbc.com/id/45971438

 

1) How are they "Obama's figures"
2) Where does you source say the 8.5% rate is wrong?

 

Thanx to LBJ a democrat. That is why SS will soon go broke

 

Iriemon...they're squirming.
Its fun to watch, but don't let yerself get frustrated...just egg them on and enjoy...

HEY T-BAGGERS!
8.5% and DROPPING!!!

Tea...anyone?

 

SS was paygo when the Govt unified the budget. It wasn't until Reagan raised the SS rate to be way higher than needed to pay beneficiaries that trillions of dollars of SS taxes went to the general budget, used to finance the huge tax cuts that have mostly benefited the wealthiest.

I agree Dems were complicit in it as well. One of the biggest "steal from the poor and give to the rich" schemes of all time. The Sherrif of Nohtingham would have been proud.

 

Nice spin but you forget the democrats controlled congress under Reagan so they had a say in this. Here is Obama's legacy

http://www.forbes.com/sites/peterfe...economic-recovery-since-the-great-depression/

 

We all know Obama inherited the Great Bush Recession, the biggest recession since the Great Depression.

 

3 years later this no longer about Bush but about how Obama has no clue what to do and how he has failed

 

The recession ended after Bush left the White House. It will take years to dig out from the damage of the last Republican government, but under Obama, we are headed in the right direction.

 

That is not the case in past recessions. Obama has used failed policies from the great depression. They did not work then and will not work now. Obama has no clue what to do. Notice many in his economic team have left

 

F***, he doesn't even have a clue that he has failed. Ol' knob knees and his wifey in her $2k sundress sashayed about Hawaii, with a non-fat Mai Tai in hand. Him smilin' and hummin' them 'ol Don Ho tunes and contemplating on what a great man he is...one of the 4 best POTUS's ever.

 

The recession is not like past recessions. Check this out:



January 2009

Job loss: Worst in 34 years
Employers slashed 598,000 more jobs in January [2009] as unemployment rate climbed to 7.6%.

NEW YORK (CNNMoney.com) -- Employers slashed another 598,000 jobs off of U.S. payrolls in January, taking the unemployment rate up to 7.6%, according to the latest government reading on the nation's battered labor market.

The latest job loss is the worst since December 1974, and brings job losses to 1.8 million in just the last three months, or half of the 3.6 million jobs that have been lost since the beginning of 2008.

http://money.cnn.com/2009/02/06/news/economy/jobs_january/index.htm

Market players were also disappointed by reports that U.S. home prices fell 8.7% year-over-year in November, U.S. housing starts fell 15.5% in December, and weekly initial jobless claims rose 62,000 to 589,000.
http://www.businessweek.com/investor/content/jan2009/pi20090122_192905.htm

On Wednesday, the 30-stock Dow Jones industrial average finished with a loss of 248.42 points, or 2.94%, to 8,200.

http://www.businessweek.com/investor/content/jan2009/pi20090114_103250.htm

598,000 Jobs Shed In Brutal January
Unemployment Hits 7.6% as Downturn Picks Up Steam

The need for progress on those fronts seemed more important than ever yesterday, as the Labor Department announced that conditions worsened more than expected last month. The nation's employers shed 598,000 jobs, the most since 1974, driving the unemployment rate to 7.6 percent from 7.2 percent. If the jobless rate keeps rising at the pace it has for the past two months, it will hit double digits in summer and reach its highest rate since the Great Depression by the fall.

http://www.washingtonpost.com/wp-dyn/content/article/2009/02/06/AR2009020601156.html

GROSS DOMESTIC PRODUCT: FOURTH QUARTER 2008 (PRELIMINARY)
Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- decreased at an annual rate of 6.2 [later revised to 7.0] percent in the fourth quarter of 2008, (that is, from the third quarter to the fourth quarter), according to preliminary estimates released by the Bureau of Economic Analysis.

http://www.bea.gov/newsreleases/national/gdp/2009/pdf/gdp408p.pdf[/QUOTE]

Continued Unemployment Claims at Record High
In the week ending Jan. 24, the advance figure for seasonally adjusted initial claims was 588,000, an increase of 3,000 from the previous week's revised figure of 585,000.

http://www.calculatedriskblog.com/2009/01/continued-unemployment-claims-at-record.html

And it got worse after that.

 

Continued Unemployment Claims at Record High
In the week ending Jan. 24, the advance figure for seasonally adjusted initial claims was 588,000, an increase of 3,000 from the previous week's revised figure of 585,000.

http://www.calculatedriskblog.com/2009/01/continued-unemployment-claims-at-record.html

And it got worse after that.[/QUOTE]

You proved nothing. You blame Bush and justify Obama. All you prove is you are an apologist for Obama and you are a democrat political hack

 

False. I certainly proved that the day Obama walked into the WH the economy was going right down the toilet and fast. Much as you political hacks would like to pretend everything was just rosy and the crappy economy we've had is all Obama's fault.

I've also proved you have no clue as to what proving something means.

You blame Obama and justify Bush and the Republicans. All you prove is you are an apologist for republics and you are a republic political hack.

 

Bush and Obama are both to blame. This isn't going to get better. Things are going to get worse because the American political system is dysfunctional and the American economy is no longer ruthlessly efficient.

 

Things have been getting better for the last couple years. The economy has been growing steadily for more than two years, the private sector has created jobs every month for more almost two years, stock markets are up about 90% from their recession lows, and the unemployment rate has fallen from above 10% to 8.5%, and about 5 million private sector jobs have been added since Jan 2010.

It's just that the recession caused so much damage combined with other structural problems we already had (eg budget deficits, debt, wealth disparaty, outsourcing jobs, etc) coupled with problems in other parts of the world (Japan, Europe) that its going to take more than a couple years to get back to being fully recovered.

I agree that a dysfunctional political system certainly doesn't help.

 

What did Obama do to cause this? How are you measuring growth?

Fact - Less people work today than in Dec 2010

The federal reserve has been actively purchasing assets from the private sector. Of course the stock market reflects that. Funny money owns it.

Conservative investors are making 1.9% on their 10 yr notes, less than 3% on their 30 yr. Thats horrible. That won't even beat inflation. The federal reserve is also buying US Treasuries hand over fist to keep the interest rate low, intentionally screwing this investor.

What has Obama done to stop it?

 

There are lies, (*)(*)(*)(*) lies, and statistics.

This is unlike any recovery since WWII. The population of America is growing. But the workforce has decreased in size by one million people since the Boy King's ascension. The economy is not producing sufficient jobs to employ all of the young people entering the work force. When Europe tips later this year the waves will swamp America.

 

Amount of people working, NO GROWTH.

https://confoundedinterest.wordpress.com/

 

Yes Obama was part of the congress majority when the recession hit. Obama has failed to bring recovery.I make less now than I did in 2008

 

Are you saying the tea party has made it better? It certainly is not Obama

 

When Obama took office, the economy was tanking at a -9% real rate, losing 700,000+ jobs a month, unemployment was skyrocketing upward, and the stock markets were crashing in the worst recession in 80 years. The housing market was destroyed and we were headed straight for a depression.

But now the economy has been growing steadily for more than two years, the private sector has created jobs every month for more almost two years, stock markets are up about 90% from their recession lows, and the unemployment rate has fallen from above 10% to 8.5%, and about 5 million private sector jobs have been added since Jan 2010.

Only those invested in failure for political purposes could claim Obama's policies have failed to turn the economy around.