Another Big Government Plan to Rescue the Middle Class

Obama1

Independent Sentinel

A former Reagan adviser has asked how it is possible that with more than 93 million Americans out of work, how can we possibly have 5% unemployment? He contends that with only 210 million Americans eligible to be in the workforce, it leaves us with 42% unemployed.

With millions of Americans unemployed and businesses facing oppressive regulations which are growing by the day, Barack Obama has decided to implement a rule under federal labor law that will raise the salary threshold below what workers automatically qualify for time-and-a-half overtime wages to $50,440 a year from $23,660..

This is another redistribution of wealth from business owners and investors to lower-wage workers to make things “fair” and “equal” according to social justice tenets.  He says he is helping the middle class, which is code for Marxist redistribution. It has more to do with destroying the middle class than helping it.

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If Your BS Detector Isn’t Shrieking, It’s Broken

lies

The Daily Sheeple

Wishing it was true doesn’t make it true–it makes you a chump who fell for the con.

Once upon a time in America, no adult could survive without possessing a finely tuned BS detector. Herman Melville masterfully captured America’s fascination with cons and con artists in his 1857 classic The Confidence-Man, which I discussed in The Con in Confidence (October 4, 2006).

An essential component of the American ethos is: don’t be a chump. Don’t fall for the con. And if you do, it’s your own fault. The Wild West wasn’t just thieves shooting people in the back (your classic “gunfight” in the real West)–it was a simmering stew of con artists, flim-flammers and grifters exploiting the naive, the trusting and the credulous.

We now inhabit a world where virtually everything is a con. That “organic” produce from some other country–did anyone test the soil the produce grew in? It could be loaded with heavy metals and be certified “organic” because no pesticides were used during production. But what about last year? And the year before? What’s in the water used to irrigate the crops?

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27 Huge Red Flags For The U.S. Economy

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The Daily Sheeple

If you believe that the U.S. economy is heading in the right direction, you really need to read this article.  As we look toward the second half of 2014, there are economic red flags all over the place.  Industrial production is down.  Home sales are way down.  Retail stores are closing at the fastest pace since the collapse of Lehman Brothers.  U.S. household debt is up substantially, and in 20 percent of all U.S. families everyone is unemployed.  In so many ways, what we are witnessing right now is so similar to what we experienced during the build up to the last great financial crisis.  We are making so many of the very same mistakes that we made the last time, and yet our “leaders” seem completely oblivious to what is happening.  But the warning signs are very clear.  All you have to do is open your eyes and look at them.  The following are 27 huge red flags for the U.S. economy…

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Under Hope & Change, Misery Index Climbs

Moonbattery

We all know the official economic numbers are a fraud, but just how bad is the real situation? According to an influential Wall Street advisor, extremely bad:

In a memo to clients provided to Secrets, David John Marotta calculates the actual unemployment rate of those not working at a sky-high 37.2 percent, not the 6.7 percent advertised by the Fed, and the Misery Index at over 14, not the 8 claimed by the government.

Unemployment + inflation = the Misery Index. Put smiley-faced lies into the equation, a smiley-faced lie comes out. According to Marotta:

“Unemployment in its truest definition, meaning the portion of people who do not have any job, is 37.2 percent.”

The reason the official unemployment rate has declined despite Obama still being in office, as Marotta and colleague Megan Russell explain, is that

“officially-reported unemployment numbers decrease when enough time passes to discourage the unemployed from looking for work. A decrease is not necessarily beneficial; an increase is clearly detrimental.”

As for inflation, the government underreports it “by about 3%.”

According to official numbers, the current Misery Index is 7.54. But we no longer have the sort of government that produces reliable numbers. Using a more honest inflation rate of 4.5% and an unemployment rate of 10.2% (which includes discouraged workers who aren’t actively seeking a job, but not everybody who isn’t working) yields a Misery Index of 14.7, “worse even than during the Ford Administration.”

Worse still is the Youth Misery Index, which tracks how well voting for Obama is working out for young people. The YMI is

calculated by adding youth unemployment and average college loan debt figures with each person’s share of the national debt. While it has steadily grown over the decades, under Obama the figure has shot up dramatically, from 83.5 in 2009 to 98.6 in 2013.

The index has increased by 18.1 percent since Obama took office, the highest increase under any president, making Obama the worst president for youth economic opportunity, according to the nonprofit that released the figure.

“Young people are suffering under this economy,” said Ashley Pratte, program officer for Young America’s Foundation, which developed the index and calculates it annually using federal statistics.

Look at the bright side, young people. It could be worse. They could calculate the YMI using real numbers instead of government stats. Then you would really be hurting.

Obama Economic Misery

 

The Worst Ever: Since the Great Depression Obama Is Worst Jobs President in Last 60 Years

Gateway Pundit

According to the Bureau of Labor Statistics, Obama has the worst record of any President in the last 60 years. From 1948 until January 2009 when Obama took office, there has been a combined 39 months of unemployment above 8 percent. Since Obama took office we’ve had to endure 43 consecutive months of unemployment above 8 percent and no end in sight!

Why Blame Obama?

American Thinker

Let  me count the ways.

Before  inauguration.  Senator Obama voted for the budgets he would later  blame on Bush, and for the TARP bailout.  After just two months of TARP,  the Bush administration said it was done — crisis averted.

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