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Thread: More Job Seekers Give Up

  1. #111
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    Re: More Job Seekers Give Up

    today:

    The Congressional Budget Office (CBO) says the real cost of the federal government guaranteeing the business of failed mortgage giants Fannie Mae and Freddie Mac is $317 billion -- not the $130 billion normally claimed by the Obama administration.

    In a report delivered to the House Budget Committee on June 2, the CBO said a “fair value” accounting of guaranteeing the two defunct mortgage companies – known as Government Sponsored Enterprises (GSEs) – was more than twice as high as the Office of Management and Budget had accounted for.

    “Specifically, CBO treats the mortgages guaranteed each year by the two GSEs as new guarantee obligations of the federal government,” the CBO report said. “For those guarantees, CBO’s projections of budget outlays equal the estimated federal subsidies inherent in the commitments at the time they are made.”

    “In contrast, the Administration’s Office of Management and Budget continues to treat Fannie Mae and Freddie Mac as nongovernmental entities for budgetary purposes, and thus outside the budget,” the report stated. “It records as outlays the amount of the net cash payments provided by the Treasury to the GSEs.”

    The total of those cash payments is $130 billion, and is normally reported as the cost of the bailout of the GSEs to date. However, the CBO said that merely counting the cash payments, and not the cost of federal subsidies granted to the GSEs, obscures their real costs.

    Essentially, the CBO is accounting for the cost of the federal government guaranteeing the loans bought and securitized by the GSEs.
    True Cost of Fannie, Freddie Bailouts: $317 Billion, CBO Says | CNSnews.com

  2. #112
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    Re: More Job Seekers Give Up

    Quote Originally Posted by cpwill View Post
    Yay, unemployment drops!!!........ well, sorta ...........


    remember ya'll : Keynesian Stimulus Bills worked in 2008 to avoid a recession, and they worked in 2009 to keep unemployment low. Don't you go believing your lying eyes, and don't forget to vote Democrat in 2012!
    More than 90 percent of the jobs created by this plan will be in the private sector. They're not going to be make-work jobs, but jobs doing the work that America desperately needs done: jobs rebuilding our crumbling roads and bridges, repairing our dangerously deficient dams and levees so that we don't face another Katrina.

    Transcript: Obama takes questions on economy - CNN.com
    In pushing to get his $787 billion stimulus package passed in Congress, President Obama's economic team said that without the federal spending jolt, the unemployment rate would hit 8.8 percent by the last fiscal quarter of 2010. With the package, his advisers argued, the unemployment rate would reach only 7 percent.

    Republicans Blast Obama Administration as Jobless Rate Hits 9.4 Percent - FoxNews.com
    Could they have been more wrong???
    "Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passions, they cannot alter the state of facts and evidence." - John Adams

  3. #113
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    Re: More Job Seekers Give Up

    according to the infamous romer-bernstein projection, unemployment today, thanks to the stimulus, should be around 6.5%

    http://otrans.3cdn.net/ee40602f9a7d8172b8_ozm6bt5oi.pdf

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    Re: More Job Seekers Give Up

    Quote Originally Posted by Councilman View Post
    As i posted before a few hours ago Fox News reported the the actual Unemployment number for April 2011 was 15.9%, this includes those who are no longer receiving any benefits.

    This is why the numers of people on food stamps is through the roof.
    I live in Riverside/ San Bernardino county. What are ya'all doing to squash Jerry Browns job killing policies?
    "Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passions, they cannot alter the state of facts and evidence." - John Adams

  5. #115
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    Re: More Job Seekers Give Up

    today:

    Once provisions of the Affordable Care Act start to kick in during 2014, at least three of every 10 employers will probably stop offering health coverage, a survey released Monday shows.

    The survey of 1,300 employers says those who are keenly aware of the health-reform measure probably are more likely to consider an alternative to employer-sponsored plans, with 50% to 60% in this group expected to make a change. It also found that for some, it makes more sense to switch.

    “At least 30% of employers would gain economically from dropping coverage, even if they completely compensated employees for the change through other benefit offerings or higher salaries,” the study says.
    Firms to cut health plans as reform starts: survey - MarketWatch

  6. #116
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    Re: More Job Seekers Give Up

    today:

    State and local governments are forecast to shed up to 110,000 jobs in the third quarter, the first time the blood-letting has risen into the triple digits, according to IHS Global Insight.

    State and local government employment has been a drag on the economy all year, averaging a loss of 23,000 jobs a month over the past three months. Meanwhile, the private sector has created an average of 180,000 a month during the same period.

    In May, public employment shrunk by 29,000 jobs, mostly at the state and local level, while businesses created 83,000 jobs, the Labor Department reported Friday. All told, the sector has lost 510,000 positions since its peak in August 2008.

    Though tax revenue is starting to rise, states are still wrestling with multi-billion-dollar budget gaps. Federal stimulus funds helped minimize job cuts until now, but that money essentially runs out on June 30.

    So states are planning to slash funds for education, social services and local governments, as well as downsize their payrolls even more, in the coming fiscal year.

    And that's the good news.

    The bad news is that local governments are in even worse shape. Not only are they losing state aid, but they are finally feeling the fallout from the mortgage meltdown. Property tax assessments, a major funding source for municipalities, have only started to drop.
    State, local governments set to see record job cuts, layoffs - Jun. 5, 2011

    helter skelter is comin down fast

    hold on!

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    Re: More Job Seekers Give Up

    That's no surprise. If employers can push the cost of health care off on the general taxpayers, of course they will.
    "Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passions, they cannot alter the state of facts and evidence." - John Adams

  8. #118
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    Re: More Job Seekers Give Up

    today:

    The U.S. Treasury next month will go back to relying on the kindness of strangers like never before to purchase the nation’s burgeoning debts — and taxpayers may have to pay higher interest rates to attract enough foreign investors, analysts say.

    Though a significant rise in interest rates could be toxic for a softening U.S. economy, the Federal Reserve has said it will end its program of purchasing $600 billion in U.S. Treasury bonds as planned on June 30. The Fed is estimated to have bought about 85 percent of Treasury’s securities offerings in the past eight months.

    That leaves the Treasury, which is slated to sell near-record amounts of new debt of about $1.4 trillion this year, without its main suitor and recent source of support, and forces it back into the vagaries of global markets. Among the countries that will have to step forward to prevent a debilitating rise in interest rates are China, Japan and Saudi Arabia — and even hostile nations such as Iran and Venezuela with petrodollars to invest, according to one analysis.

    The end of the Fed’s program would never be easy given the huge onslaught of scheduled Treasury borrowing, but the task will be more difficult because foreign investors in the past six months have been reducing their sizable holdings of U.S. debt, not increasing them.
    Lack of buyers may force Treasury to boost interest rates - Washington Times

  9. #119
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    Re: More Job Seekers Give Up

    Quote Originally Posted by Redress View Post
    Man, I love me some over the top hyperbole and misrepresented facts.
    What is "misrepresented"? Just because the administration, as has administrations before it created some BS numbers and calculations that dismiss people that have become discouraged, or dropped from the roles of collecting unemployment because their benefit ran out doesn't mean that they don't exist anymore.

    What is a lie is that we treat them like they are no longer people without jobs.


    j-mac
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

  10. #120
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    Re: More Job Seekers Give Up

    Quote Originally Posted by apdst View Post
    You rarely post anymore than your flawed opinion.
    And time and time again you are completely unable to refute it.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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