The fact is that the labor participation rate is the lowest it has been in many peoples lifetimes...Do you think that is a good thing?
Meanwhile, now this administration is opening up the borders to people looking to escape their own morass in their own countries...We have nothing to give them, and IMHO, this is to collapse the system...by design.
Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.
Alexis de Tocqueville
How exactly do you think that MLR article supports your false claim that discouraged were removed from the official definition?
Therefore, since the world has still/Much good, but much less good than ill,
And while the sun and moon endure/Luck's a chance, but trouble's sure,
I'd face it as a wise man would,/And train for ill and not for good.
Also, as technology continues to replace the need for human labor, we will continue to see the workforce participation rate fall. When machines do our work, we don't have less of a need for workers.
The decline in workforce participation rate didn't just start under Obama, or even the Great Bush Recession. It started even slightly before Bush took office.
Now, you try to tell us that John McCain would have had better success than Obama did, but what would McCain have done? He either would have proposed economic stimulus, the same as Obama did, or prescribe austerity -- a policy that proved to be a failure when done in Europe. What about Romney? Romney is an entitled, insulated, plutocrat who said that 47% of Americans are moochers. His policies would have been to raise taxes on that 47%, cut social spending and lower taxes on rich plutocrats like himself. None of those policies are a prescription for economic expansion. They are ideologically based voodoo economics.
While the current job gains a good, they are not great. Why are they not great? Because in the six years plus since the Great Recession began the solution is still very simple -- ECO 101 simple but only mildly tried. As Dean Baker says, the story of this slump is remarkably simple:
While Obama got a mix of fiscal expansion (about half the size economists suggested) and the Fed instituted unconventional monetary policy, nobody proposed debt relief. This wasn’t hard or unconventional economics; it was not much beyond Econ 101. But where was the GOP on all of this? They grew a new fixation with deficits and proposed the same old policy they always propose, upper-income tax-cuts. So to pretend that the GOP has some kind of prescription for lifting the economy quickly, they only prescribe the same old medicine that proved ineffective. What did you say, 'Reagan did it?' Reagan increased the deficit, increased the number of public sector workers and increased spending -- all things that the GOP kept silent for Reagan but are up-in-arms when the Democratic President tried to do it.The economy was being driven by a housing bubble and the bubble burst. The combination of the loss of housing construction, due to the enormous overbuilding of the bubble years, and the loss of the consumption that had been driven by bubble generated housing wealth, created a gap in annual demand of more than $1 trillion. That's all simple and easy.
Of course the government could do it with more spending and/or tax cuts, but since we have a religious cult in Washington that says it is better to keep millions out of work than to run deficits, this was a political impossibility. (Of course we could have a lower valued dollar to reduce the trade deficit, but economists try to ignore the $500 billion trade deficit. That's another part of the cult.)
2009 wasn't so far ago that we don't remember conservative claims that expansionary monetary policy would cause inflation; budget deficits will drive up interest rates and we need to reduce deficits to encourage confidence -- all while Keynesians pointed to the standard economic models, which said that money wouldn’t be inflationary in a liquidity trap, deficits wouldn’t drive up interest rates, and contractionary policy would be contractionary.
Not only does the GOP and conservatives not have a prescription for lifting the economy quickly, their stated solutions would have made things worse.
Last edited by MTAtech; 07-04-14 at 09:06 AM.
"I never meant to say that the Conservatives are generally stupid. I meant to say that stupid people are generally Conservative. I believe that is so obviously and universally admitted a principle that I hardly think any gentleman will deny it." --J.S. Mill
Historical data can be found here: http://www.bls.gov/webapps/legacy/cpsatab9.htm
2009 wasn't that long ago when we had a Democrat President and a Democrat Congress that said they had the answers but have failed. You don't seem to grasp the reality what the high number of unemployed/under employed/discouraged workers have on the economy and monetary policy. The federal govt. pumping billions into the market each month has been offset with 20 million unemployed/under employed/discouraged not spending on the things they want but rather focused on what they need. That is what has kept inflation down. Keep praying for more and more unemployment and discouraged workers.
Last edited by Conservative; 07-04-14 at 10:13 AM.