There are two novels that can change a bookish fourteen-year old's life: The Lord of the Rings and Atlas Shrugged. One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world. The other, of course, involves orcs.... John Rogers
Jobs are stagnant due to GOP austerity.
From the Yellen article above:
Yellen was referring to the austerity that has come out of a rolling series of debt crises instigated by Republicans in the past few years, including the deep budget cuts known as sequestration and this year's payroll-tax increase. Under pressure from Republicans, the federal government has cut spending at the fastest pace since the end of the Vietnam War. Government investment has tumbled to its lowest level as a percentage of GDP since 1948.
This belt-tightening has probably cost the economy nearly 2.5 million jobs, according to a recent study by the Center For American Progress, a liberal think tank -- one huge reason this has been the slowest job-market recovery since World War II. Economists on the right and left agree austerity has hurt economic growth, employment and consumer spending, with executives from Walmart and Cisco among the most recent capitalists to complain about it.
By the way CEOs from Wal-Mart to Cisco concur. THey know more than you do too.
As far as sequestration (which is the only austerity thats occurred since the rest of the "cuts" have been cuts in increases, not real cuts), the major impact on jobs falls in the cuts to Defense spending, something, correct me if I'm wrong, is something that the President and the Democrat Party have been screaming for for decades.
And I wonder if Ms. Yellen would include that the stagnation is being contributed too by massive growth in economic restrictive regulations? Obamacare, EPA, etc?