Unemployment Rate Improves Again: 4.7%

[Conservative]

No, you just don't actually listen. 6 months into President Obama's administration and 1 month after the first funds from the stimulus package started flowing into the economy the recession ended and we've been growing jobs ever since. The stimulus package has been estimated to have created or saved at least 4 million jobs and that's not counting jobs created as a result of getting the ball rolling in the right direction. The auto bailout by itself likely kept close to a million people working.

Then there is the investments in green energy, the regulations on fuel standards, and the Iran Nuclear deal which all contributed to the lowering of gas prices. He also cut the interest rates on subsidized student loans free up money and lowering payments for hundreds of thousands of former students.

I could keep going, but you're not going to listen to reason at all anyway.....




Actually it's at 9.3% and falling which as stated puts it lower than it was on average during most of the Bush administration, and lower than it was in the Early 90's before Clinton took office. Tell us another one.

Yes, it is lower at a cost of 8.6 trillion to the govt and these numbers are something you are proud of?

The recession ended because of TARP not the Obama stimulus most of which wasn't spent in 2009, keep buying the leftwing spin

 

[Taylor]

We call that U6, look it up sometime.

No we don't.

 

[chuckiechan]

Record 94,708,000 Americans Not in Labor Force; Participation Rate Drops in May

94 million people are not in the job force, and 31,000 jobs were produced in May. This is what happens when you have 1.5% growth, high regulation, excessive imports of goods, and excessive numbers of illegal workers. It is not all Obama's fault. He was handed a difficult hand to play, but it is his fault for playing it poorly. Yes, corporate profits are up 166% and job growth has totaled 9.2% since 2008. Who's making the money - Apple, Google, Facebook, Amazon. How are they helping you?
Apple makes products overseas and sells it here
Amazon cuts out the middleman but sells you the same stuff
Google and Facebook aggregate your data and use it to sell targeted advertising.
Where's the beef? How many US hammer swingers work in these economic powerhouses?

Obama had a choice to make. He could either work on the economy, or work on social justice. He chose social justice. The repairs to the economy were mostly in place when he took over, that freed his hand to create chaos in the USA and destroy our reputation in the rest of the world.

I suppose if you work in hi tech or the government, or happen to have a great job like environmental lawyer, then yes, your little slice of the world is coming up roses. But the nation's job base has continued to disintegrate under Obama, family incomes are falling, and the invasion of illegal job seekers has become a tidal wave. As Confucius said, "A tidal wave swamps all boats".

U.S. National Debt Clock : Real Time

 

[Gimmesometruth]

What matters to most people are actual data and results but not to the economically and fiscally challenged supporters of Obama. This U-6 rate of 9.7% takes into account those 6.4 million part time employees for economic reasons, the over 500,000 discouraged workers, and the over 7 million still unemployed.

Looky there folks, it wants to discuss what was already discussed.

All this at a cost of 8.6 trillion added to the debt?

Yes, con, that is EXACTLY how it works, you spend TRILLIONS and the result is a certain U6 rate, it is an exact science, a rigid formula, a one to one relationship. Thank you for explaining it so clearly.

 

[Gimmesometruth]

No we don't.

Who is this we, kemosabi?

 

[MrWonka]

The point is, Govt. spending is a component of GDP and that is what drove up the GDP that you want to give Obama credit for. Govt. spending generates debt

False, tax cuts cause debt. You don't go into debt just by spending, you go into debt by spending more than you take in.

which is a cost to the taxpayers.

Actually that's not really true either because the interest on the national debt is around 2% where as economic growth in the United States is actually much higher so by taking on short term debt and investing it the country we are actually making money off of it kind of like a bank makes money off the debt it takes on when you open up your savings account.

 

[Conservative]

Once again the rate is down to 9.3% which puts it lower than it was in 2001-2003 and lower than it was for most of the early 90's. You're going to have to go find something else if you want to keep moving the goal posts.

So this is something you are proud of, 9.7% U-6? It is 9.7% not 9.3 and that isn't lower than the average during the Bush term

U-6 Rate for the 8 years of Bush

8.1
9.6
10.1
9.6
8.9
8.2
8.3
10.6

Average 9.2

 

[Conservative]

False, tax cuts cause debt. You don't go into debt just by spending, you go into debt by spending more than you take in.


Actually that's not really true either because the interest on the national debt is around 2% where as economic growth in the United States is actually much higher so by taking on short term debt and investing it the country we are actually making money off of it kind of like a bank makes money off the debt it takes on when you open up your savings account.

Typical liberal line, Treasury disagrees with you, tax cuts stimulate economic activity and that grows revenue. Just like that good little leftwing soldier buying that the Federal Govt. needs the money more than the taxpayers.

Interest on the national debt is about 250 billion a year at these low interest rates. what happens when interest rates rise?

 

[MrWonka]

Yes, it is lower at a cost of 8.6 trillion to the govt and these numbers are something you are proud of?

Are you referring to the increased debt?


Because that was caused by **** left over from the Bush administration actually.

The recession ended because of TARP not the Obama stimulus most of which wasn't spent in 2009, keep buying the leftwing spin

Obama supported TARP, and successfully used some of the left over funds from it for the auto bail out which likely saved around 1 million jobs.

 

[Conservative]

Are you referring to the increased debt?
View attachment 67202178

Because that was caused by **** left over from the Bush administration actually.




Obama supported TARP, and successfully used some of the left over funds from it for the auto bail out which likely saved around 1 million jobs.

Love those leftwing charts. What accounting class did you take that shows tax cuts as a line item expense? It is always the liberal playbook that cutting taxes cuts revenue when the reality is Reagan cut FIT three years in a row and grow FIT revenue over 60% because of 17 million jobs created. Bush cut taxes and grew revenue from 2.2 trillion to 2.7 trillion. How does you keeping more of what you earn cause a reduction in Federal revenue? It does seem that liberals believe that economic activity would be the same with or without tax cuts and that is typical liberal bs

By the way can you provide us with a reputable source that measures and counts saved jobs?

 

[MrWonka]

So this is something you are proud of, 9.7% U-6? It is 9.7% not 9.3 and that isn't lower than the average during the Bush term

U-6 Rate for the 8 years of Bush

8.1
9.6
10.1
9.6
8.9
8.2
8.3
10.6

Average 9.2

Current U-6 Unemployment Rate

False it's at 9.3% and falling. You're a bit behind the times pal.

Also you're giving Bush credit for the 8.1% that he inherited from Clinton, and not blaming him for the 16% that he left Obama with.

 

[SenorXm/Sirius]

When the economy was bad it was all Obama's fault. Now that the economy is good, that has nothing to do with him. Bush get credit for the good years during his term,. Obama gets credit for nothing.

Typical RW hatred directed at anything and everything Obama. They are as consistent as the sun rising in the East.

 

[eohrnberger]

Typical liberal line, Treasury disagrees with you, tax cuts stimulate economic activity and that grows revenue. Just like that good little leftwing soldier buying that the Federal Govt. needs the money more than the taxpayers.

Interest on the national debt is about 250 billion a year at these low interest rates. what happens when interest rates rise?

'You can pay me now, or you can pay me later'. When the Fed raises interest rates, it's the 'pay me later' part.
The increased special safety net spending and the required debt service payments are squeezing the other parts of the budget. While there may not be much that you can do in the short term for the social safety net spending short of a strong economy and higher labor participation and reduced need for the social safety net, paying down the debt to reduce the debt service costs is something that can be done, and will ease the budget squeeze.

So it seems that if you want the social safety net spending, it would make sense to pay down the debt. Common sense it would seem, but I make no claim to any special or detailed knowledge about this.

 

[Conservative]

Current U-6 Unemployment Rate

False it's at 9.3% and falling. You're a bit behind the times pal.

Also you're giving Bush credit for the 8.1% that he inherited from Clinton, and not blaming him for the 16% that he left Obama with.

better learn to read the charts

Labor Force Statistics from the Current Population Survey
Original Data Value

Series Id: LNS13327709
Seasonally Adjusted
Series title: (seas) Total unemployed, plus all marginally attached workers plus total employed part time for economic reasons, as a percent of all civilian labor force plus all marginally attached workers
Labor force status: Aggregated totals unemployed
Type of data: Percent or rate
Age: 16 years and over
Percent/rates: Unemployed and mrg attached and pt for econ reas as percent of labor force plus marg attached
Years: 2006 to 2016

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2006 8.4 8.4 8.2 8.1 8.2 8.4 8.5 8.4 8.0 8.2 8.1 7.9
2007 8.4 8.2 8.0 8.2 8.2 8.3 8.4 8.4 8.4 8.4 8.4 8.8
2008 9.2 9.0 9.1 9.2 9.7 10.1 10.5 10.8 11.0 11.8 12.6 13.6
2009 14.2 15.2 15.8 15.9 16.5 16.5 16.4 16.7 16.7 17.1 17.1 17.1
2010 16.7 17.0 17.1 17.1 16.6 16.4 16.4 16.5 16.8 16.6 16.9 16.6
2011 16.2 16.0 15.9 16.1 15.8 16.1 15.9 16.1 16.4 15.8 15.5 15.2
2012 15.2 15.0 14.6 14.6 14.8 14.8 14.8 14.6 14.8 14.4 14.4 14.4
2013 14.5 14.3 13.8 14.0 13.8 14.2 13.8 13.6 13.7 13.7 13.1 13.1
2014 12.7 12.6 12.6 12.3 12.1 12.0 12.2 12.0 11.8 11.5 11.4 11.2
2015 11.3 11.0 10.9 10.8 10.7 10.5 10.4 10.3 10.0 9.8 9.9 9.9
2016 9.9 9.7 9.8 9.7 9.7

 

[Conservative]

'You can pay me now, or you can pay me later'. When the Fed raises interest rates, it's the 'pay me later' part.
The increased special safety net spending and the required debt service payments are squeezing the other parts of the budget. While there may not be much that you can do in the short term for the social safety net spending short of a strong economy and higher labor participation and reduced need for the social safety net, paying down the debt to reduce the debt service costs is something that can be done, and will ease the budget squeeze.

So it seems that if you want the social safety net spending, it would make sense to pay down the debt. Common sense it would seem, but I make no claim to any special or detailed knowledge about this.

Common sense also tells me that people keeping more of what they earn need less govt. spending and services except of course in the liberal world. Isn't it amazing how great the economy is and Obama proposes a 4.1 trillion dollar budget?

 

[Conservative]

When the economy was bad it was all Obama's fault. Now that the economy is good, that has nothing to do with him. Bush get credit for the good years during his term,. Obama gets credit for nothing.

Typical RW hatred directed at anything and everything Obama. They are as consistent as the sun rising in the East.

It is all about policy and what the President proposes to affect the economy. Obama proposed and signed a 842 billion dollar stimulus to create shovel ready jobs. There were 142 million employed when he took office and two years later it was 139 million. Is that a successful stimulus program? Please provide me any reputable source that captures saved jobs and prior to Obama did any other President talk about saved jobs?

 

[Taylor]

Who is this we, kemosabi?

The "we" who know that the U6 doesn't include people who left the workforce.

 

[MrWonka]

Love those leftwing charts.

That was from the CBO. You know the bipartisan committee tasked with trying to determine the impact of various policies.

What accounting class did you take that shows tax cuts as a line item expense?

Do you not understand anything about how debt works? Debt happens when you spend more money than you take in. When the government cuts tax rates they take in less money. When they continue spending like crazy as Bush did in Iraq and Afghanistan, and the economy tanks you get massive deficits.

It is always the liberal playbook that cutting taxes cuts revenue when the reality is Reagan cut FIT three years in a row and grow FIT revenue over 60% because of 17 million jobs created.

IC, so explain why after 4 years of the Bush tax cuts we were bleeding jobs like wild fire, and why after Obama eliminated those tax cuts on the wealthy the economy continued to roar back? Turns out tax cuts on millionaires and billionaires do not in fact create jobs.

Bush cut taxes and grew revenue from 2.2 trillion to 2.7 trillion.

Revenue almost always goes up from one year to the next, the question is did it go up as a percentage of the population which it didn't. Without Bush's tax cuts we would have likely had much higher revenue than 2.7 Trillion.

By the way can you provide us with a reputable source that measures and counts saved jobs?

Well since people like yourself only count right wing nut job sources as "reputable" I can't, but even most right wing nut job economists were forced to admit that the stimulus package did in fact create or save at least 2-3 million jobs, but that's a low ball estimate.

 

[Fenton]

U.S. job creation weak, even as unemployment rate falls to 4.7% - Jun. 3, 2016



Thank god we're almost rid of that son of a bitch Obama and his terrible economic policies that took us from one of the worst recessions in U.S. History all the way back to essentially full employment.

Maybe if we hadn't passed that job killing Obamacare bill, or those Job Killing tax hikes on the job creating wealthy we'd have even more fuller employment. </sarcasm>

Full employment ? Liberals are pretty heartless people when it comes down to it

You care about one thing, perpetuating your toxic ideology

Tens of thousands of Americans havw been layed off due to low oil prices just in the last few months but were at " full employment " ?

The Labor participation rate is at record low with tens of millions of Americans struggling to make ends meet and were at " full employment ".

 

[MrWonka]

better learn to read the charts

That seems to be your problem.

2009 14.2 15.2 15.8 15.9 16.5 16.5 16.4 16.7 16.7 17.1 17.1 17.1

Obama took office in January of 2009, the first funds from his stimulus package did not hit the economy until June which I've highlighted in bold. Anyone attempting to blame president Obama for anything going wrong with the economy before that is a complete moron. In reality the economic numbers for the first year or so of an incoming president should really be blamed on the president before him.

 

[Gimmesometruth]

While there may not be much that you can do in the short term for the social safety net spending short of a strong economy

FFS, when there is a strong economy, you don't need a lot of new social spending.....hurr durr. The point is that when you have a huge increase in UE, yer gonna need to spend on social support, aka counter-cyclical spending, which does incur debt.....and that is okay.

These concepts are not that tough, why do you make them so?

 

[Conservative]

MrWonka;1065924065]That was from the CBO. You know the bipartisan committee tasked with trying to determine the impact of various policies.

Those are projections not actual data so please provide me with the source that captures actual saved jobs?

Do you not understand anything about how debt works? Debt happens when you spend more money than you take in. When the government cuts tax rates they take in less money. When they continue spending like crazy as Bush did in Iraq and Afghanistan, and the economy tanks you get massive deficits.

That is your opinion and you have been indoctrinated well. The problem is spending not people keeping more of what they earn. Have you looked at the Treasury reports showing tax revenue AFTER the tax cuts? Prove with Treasury data that tax revenue is reduced after tax cuts are fully implemented?

Now it is on to Afghanistan and Iraq expenses which again you don't understand. How do you explain the 8.6 trillion dollars in debt added by Obama WITHOUT the wars i Iraq and Afghanistan?

IC, so explain why after 4 years of the Bush tax cuts we were bleeding jobs like wild fire, and why after Obama eliminated those tax cuts on the wealthy the economy continued to roar back? Turns out tax cuts on millionaires and billionaires do not in fact create jobs.

LOL, four years after Bush's tax cuts we had 146 million working Americans an increase of 9 million jobs. Where do you get your data? Try using BLS.gov. When did Obama raise taxes on those evil rich people?

Revenue almost always goes up from one year to the next, the question is did it go up as a percentage of the population which it didn't. Without Bush's tax cuts we would have likely had much higher revenue than 2.7 Trillion.

Your opinion. When you have less spendable income because of higher taxes do you spend more?

Well since people like yourself only count right wing nut job sources as "reputable" I can't, but even most right wing nut job economists were forced to admit that the stimulus package did in fact create or save at least 2-3 million jobs, but that's a low ball estimate.

Right, BLS, BEA, and Treasury are right wing sources. LOL. I don't see the numbers proving saved jobs nor do I believe taking employment from 142 million to 139 million two years later is an increase

 

[MrWonka]

Tens of thousands of Americans havw been layed off due to low oil prices just in the last few months but were at " full employment " ?

And Tens of thousands more have found jobs in other fields because low oil prices have freed up money to be spend else where.

The Labor participation rate is at record low with tens of millions of Americans struggling to make ends meet and were at " full employment ".

Alright since you're apparently joining this thread late I'll explain this again. The U6 employment rate which conservatives have been shifting the goal posts to for the last few years is actually down again to 9.3% which is lower than it was in 2001-2003 under Bush, and lower than it was in the early part of the 90's before Clinton's policies started taking effect.

 

[Gimmesometruth]

The "we" who know that the U6 doesn't include people who left the workforce.

Well, yer "we" needs to review BLS definitions, U6 includes U4, which are discouraged workers.


Table A-15. Alternative measures of labor underutilization

 

[SenorXm/Sirius]

It is all about policy and what the President proposes to affect the economy. Obama proposed and signed a 842 billion dollar stimulus to create shovel ready jobs. There were 142 million employed when he took office and two years later it was 139 million. Is that a successful stimulus program? Please provide me any reputable source that captures saved jobs and prior to Obama did any other President talk about saved jobs?

1st of all either a president has a lot to do with the economy, or he doesn't. The RW haters got to make up their minds. When it was good under Bush it was all his doing, now that it's good under Obama he has nothing to do with it. That argument doesn't fly. You guys can't have it both ways.

2nd your facts are cherry picking. In 2009 the economy was hemorrhaging jobs by the 100,000's per month. To expect any 'plan' by anyone to turn the economy around in 2-3 years is unrealistic and partisan nonsense.

What's the amount of people employed and what's the unemployment rate NOW?