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7/5/2015 1:48:10 PM  

muldoon1959
Over 10,000 Posts!!! (13,992)
Vallejo, CA
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8 Stupidest Economic Ideas GOP Presidential Candidates Are Hearing from Their Experts
By Zaid Jilani / AlterNet

The New York Times recently named a number of economic advisers who are currently advising or are interviewing to begin working for GOP presidential candidates. What the Times didn't do is lay out some of the terrible ideas these economists promoted.

1. Raise Taxes On the Poor to Cut Them on the Rich: Stephen Moore, who works for the Wall Street Journal in addition to being parked at the Heritage Foundation, has been at dinners of economists advising candidates such as Louisiana Governor Bobby Jindal. In 2010, Moore said he'd “raise the 10 percent tax rate to 15 percent and lower the [top] rates.”







2. Just Suspend All Taxes: Art Laffer is most known for his “Laffer Curve” idea, where he proposed that cutting taxes creates so much growth it will bring in more revenue. But he's been a right-wing economist who has been preaching a number of odd policies for decades. In 2010, he suggested just suspending all taxes to stimulate the economy. He has met with both Jeb Bush and Ben Carson.

3. Get Rid of Corporate Income Tax Altogether: Laurence Kotlikoff of Boston University has advised Ben Carson, who called him to talk to him about the deficit. Kotlikoff wrote an op-ed in January 2014 in which he said we shouldn't just lower the corporate income tax, we should eliminate it. Larry Kudlow, a CNBC host and economics pundit, also advocated the same idea.

4. Detroit's Budget Crisis Is a Good Thing: Rand Paul adviser Mark Spitznagel wrote a column urging a collapse of Detroit's public budget and economic system, noting that “the good news is that, as Rothbard noted, such a collapse is the recovery process....Given this, purging Detroit's balance sheet (specifically the disproportionate unfunded liabilities that have plunged it deep into the red) is the best – maybe even the only available path to renewal.”

5. Our Veterans are Getting Too Sweet a Retirement Deal: Tim Kane of the Hoover Institute has met with four different GOP presidential campaigns, according to the Times piece. In March, he asked whether military retirement was “too sweet of a deal,” advocating for ending the defined benefit structure of military pensions and moving toward the Wall Street-centric defined-contribution model that may save taxpayers money but offer smaller returns for vets.

6. Wall Street Is Overregulated: Abby McCloskey, who is working for Rick Perry, wrote a long post for the American Enterprise Institute about how we can avoid another 2008 if we don't engage in “unbridled regulation.”

7. Income Inequality Is a Myth: The American Enterprise Institute's James Pethokoukis, who is advising several candidates, wrote a post during the high point of Occupy Wall Street in which he said “income inequality is a myth.”

8. It's Okay To Kill People By Denying Them Health Care:In a blog post earlier this year, Michael R. Strain of the American Enterprise Institute, who has met with several candidates, titled his argument “End Obamacare, And People Could Die. That's Okay.” He conceded that repealing the Affordable Care Act would lead to deaths, but that “in a world of scarce resources, a slightly higher mortality rate is an acceptable price to pay for certain goals.”

It's surprising that such extreme ideas are being promoted by GOP advisers, and yet the nominees continue to be treated as mainstream.

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7/5/2015 2:07:54 PM Vallejo, CA  

catlover418
Over 2,000 Posts (3,180)
Arlington, TX
69, joined Feb. 2009
online now!


Quote from muldoon1959:
8 Stupidest Economic Ideas GOP Presidential Candidates Are Hearing from Their Experts
By Zaid Jilani / AlterNet

The New York Times recently named a number of economic advisers who are currently advising or are interviewing to begin working for GOP presidential candidates. What the Times didn't do is lay out some of the terrible ideas these economists promoted.

1. Raise Taxes On the Poor to Cut Them on the Rich: Stephen Moore, who works for the Wall Street Journal in addition to being parked at the Heritage Foundation, has been at dinners of economists advising candidates such as Louisiana Governor Bobby Jindal. In 2010, Moore said he'd “raise the 10 percent tax rate to 15 percent and lower the [top] rates.”







2. Just Suspend All Taxes: Art Laffer is most known for his “Laffer Curve” idea, where he proposed that cutting taxes creates so much growth it will bring in more revenue. But he's been a right-wing economist who has been preaching a number of odd policies for decades. In 2010, he suggested just suspending all taxes to stimulate the economy. He has met with both Jeb Bush and Ben Carson.

3. Get Rid of Corporate Income Tax Altogether: Laurence Kotlikoff of Boston University has advised Ben Carson, who called him to talk to him about the deficit. Kotlikoff wrote an op-ed in January 2014 in which he said we shouldn't just lower the corporate income tax, we should eliminate it. Larry Kudlow, a CNBC host and economics pundit, also advocated the same idea.

4. Detroit's Budget Crisis Is a Good Thing: Rand Paul adviser Mark Spitznagel wrote a column urging a collapse of Detroit's public budget and economic system, noting that “the good news is that, as Rothbard noted, such a collapse is the recovery process....Given this, purging Detroit's balance sheet (specifically the disproportionate unfunded liabilities that have plunged it deep into the red) is the best – maybe even the only available path to renewal.”

5. Our Veterans are Getting Too Sweet a Retirement Deal: Tim Kane of the Hoover Institute has met with four different GOP presidential campaigns, according to the Times piece. In March, he asked whether military retirement was “too sweet of a deal,” advocating for ending the defined benefit structure of military pensions and moving toward the Wall Street-centric defined-contribution model that may save taxpayers money but offer smaller returns for vets.

6. Wall Street Is Overregulated: Abby McCloskey, who is working for Rick Perry, wrote a long post for the American Enterprise Institute about how we can avoid another 2008 if we don't engage in “unbridled regulation.”

7. Income Inequality Is a Myth: The American Enterprise Institute's James Pethokoukis, who is advising several candidates, wrote a post during the high point of Occupy Wall Street in which he said “income inequality is a myth.”

8. It's Okay To Kill People By Denying Them Health Care:In a blog post earlier this year, Michael R. Strain of the American Enterprise Institute, who has met with several candidates, titled his argument “End Obamacare, And People Could Die. That's Okay.” He conceded that repealing the Affordable Care Act would lead to deaths, but that “in a world of scarce resources, a slightly higher mortality rate is an acceptable price to pay for certain goals.”

It's surprising that such extreme ideas are being promoted by GOP advisers, and yet the nominees continue to be treated as mainstream.

Not all Republicans are in favor of these. True conservatives most likely wouldn't be. Some are obvious, like numbers 1, 4, 5, 6, 7, and 8. Number 2 just might work. 3 should be done. No true conservative would agree with number 5. Look what liberals have already done to our military. Number 9 is absurd. KEEPING Obamacare will kill far more than not keeping it.

7/5/2015 2:09:45 PM Vallejo, CA  

bluecougareyes
Over 10,000 Posts!!! (18,349)
Chelan, WA
71, joined Nov. 2008


Every jobless crime ridden town in America run by liberals

7/5/2015 2:10:34 PM Vallejo, CA  

txninnc
Over 2,000 Posts (2,834)
Euless, TX
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This one tops the list. A trillion dollars thrown in the toilet with the stroke of a pen.

Obama Jokes at Jobs Council: 'Shovel-Ready Was Not as Shovel-Ready as We Expected'

President Obama's Council on Jobs and Competitiveness met today in Durham, NC at Cree Inc., a company that manufactures energy-efficient LED lighting. One of the Council's recommendations to President Obama was to streamline the federal permit process for construction and infrastructure projects. It was explained to Obama that the permitting process can delay projects for "months to years ... and in many cases even cause projects to be abandoned ... I'm sure that when you implemented the Recovery Act your staff briefed you on many of these challenges." At this point, Obama smiled and interjected, "Shovel-ready was not as ... uh .. shovel-ready as we expected." The Council, led by GE's Jeffrey Immelt, erupted in laughter.

The Obama administration promised the Recovery Act ("the stimulus") would prevent the jobless rate from going over 8%. It now stands at 9.1%.

http://nation.foxnews.com/president-obama/2011/06/13/obama-jokes-jobs-council-shovel-ready-was-not-shovel-ready-we-expected

7/5/2015 2:18:31 PM Vallejo, CA  
condor_0000
Over 10,000 Posts!!! (11,436)
Tampa, FL
57, joined Feb. 2013


Quote from bluecougareyes:
Every jobless crime ridden town in America run by liberals


Every jobless crime-ridden town in America is run by CAPITALISTS.

"Almost all of the world is capitalist, and almost all of the world's people are poor." -- Michael Parenti

And there's a reason why. Capitalism is the raping of the working class and the looting of the public till. Capitalism creates poverty. The wealth of the capitalists is also the poverty of the masses.

--------------------

Wall Street swindles, not pensions, behind financial crisis in Detroit and other US cities
By Thomas Gaist
8 January 2014
World Socialist Web Site
https://www.wsws.org/en/articles/2014/01/08/swap-j08.html

Excerpt

The political establishment and the media have relentlessly promoted the myth that the crisis in Detroit and in cities across the US is a product of overgenerous spending on social services and benefits, with public employee pension liabilities cited as the main culprit.

In reality, the driving force behind the Detroit bankruptcy has been a predatory interest rate swap foisted on the city by Wall Street bankers, which was signed by former Mayor Kwame Kilpatrick in 2005. Scores of states, municipalities, school districts and various other public entities entered into similar swap contracts over the past decade. These deals have enabled the world’s most powerful banking houses to systematically plunder public budgets across the nation, creating the conditions for the rising wave of municipal bankruptcies.

The interest rate swap deals amount to complex bets on the direction of future interest rates. In the mid-2000s state and local governments entered into these bets in an environment of rising interest rates, seeking desperately to offset their growing financial costs.

During testimony last week, Orr testified that he considered the interest rate swaps to be illegal, and claimed that he even approached the Securities and Exchange Commission (SEC) about a possible prosecution of Bank of America-Merrill Lynch and Swiss bank UBS. (See: “Emergency manager acknowledges bank deals pushed on Detroit were likely illegal”)

Far from intervening on behalf of Detroit and other cities victimized by these deals, however, the Obama administration and SEC have done everything to protect these financial criminals and reward them even further.

When the Federal Reserve pushed rates to near zero after the 2008 collapse, the swap arrangements forced local governments to continue paying high rates despite the new conditions. The swap deals, moreover, came with massive built-in termination fees, which cost cities hundreds of millions of dollars to “unwind” them. In Detroit, Orr is seeking to pay Bank of America and UBS $165 million in termination fees, while offering only pennies on the dollar towards unfunded pension obligations owed to 23,500 retired city workers.

Interest rates were driven down in the wake of 2008 both by the political decisions of the Federal Reserve, as well as the deliberate manipulations of the London Interbank Offering Rate or LIBOR carried out by the global banking giants. Two of the main financial players in the Detroit bankruptcy, UBS and Barclays, were both heavily involved in the LIBOR-rigging scandal.

The LIBOR index set interest rates for trillions of dollars in housing and other loans, including nearly all subprime mortgages before the 2008 crash, and financial derivatives such as interest rate swaps. American municipalities also borrowed around 75 percent of their money through financial products that were linked to the LIBOR.

The manipulation of this crucial index—which had the effect of minimizing payments owed by the banks on the swap deals and forcing cities to pay far higher interest rates—has prompted several cities to launch legal actions against the predatory activities of the financial houses.

Baltimore sued Bank of America, Barclays, Citibank, HSBC, JP Morgan, Lloyds, UBS, and WestLB in 2011 over their involvement in LIBOR rigging. Philadelphia launched a similar suit in 2013 against Bank of America, Barclays, Citigroup, Credit Suisse, Deutsche Bank, JP Morgan Chase, Royal Bank of Canada, Royal Bank of Scotland, and UBS AG. San Diego and Sacramento counties have also sued major banks in relation to LIBOR manipulation.

The November 2011 bankruptcy of Jefferson County (Birmingham), Alabama, at the time the largest municipal bankruptcy in US history, was driven by an interest rate swap deal signed by the city with JP Morgan. JP Morgan was charged with paying millions in bribes to officials as part of the deal, including former Birmingham Mayor Larry Langford, who was subsequently convicted on corruption related charges. JP Morgan paid a fine of $75 million to the Securities and Exchange Commission (SEC), with none of its own personnel serving any jail time.

In an article for Bloomberg, “Wall Street Takes $4 Billion From Taxpayers as Swaps Backfire,” Michael McDonald wrote, “California’s water resources department this year spent $305 million unwinding interest-rate bets that backfired, handing over the money to banks led by New York-based Morgan Stanley. North Carolina paid $59.8 million in August, enough to cover the annual salaries of about 1,400 full-time state employees. Reading, Pennsylvania, which sought protection in the state’s fiscally distressed communities program, got caught on the wrong end of the deals, costing it $21 million, equal to more than a year’s worth of real-estate taxes.”

In a 2010 article, “How Big Banks’ Greek-Style Schemes Bankrupt States,” Mike Elk of the Huffington Post wrote: “As almost all reasoned economists had predicted in the wake of a deepening recession, the federal government aggressively drove down interest rates to save the big banks. This created opportunity for banks—whose variable payments on the derivative deals were tied to interest rates set largely by the Federal Reserve and Government—to profit excessively at the expense of state and local governments. While banks are still collecting fixed rates of from 4 percent to 6 percent, they are now regularly paying state and local governments as little as a tenth of one percent on the outstanding bonds—with no end to the low rates in sight.”

The US government has made every effort to assure that the fees owed to the banks will be protected in the bankruptcy process, even as labor agreements are torn up and workers lose their jobs and pensions.

Exemptions have been embedded in the bankruptcy codes that provide a “safe haven” for the banks and ensure payment of their swap deals, using the bogus argument that if the banks are not paid in full, grave damage to the financial system will result.

Entire cities are being used as collateral, opening the way for wholesale plunder of municipal assets by the same institutions, whose criminal activities crashed the economy.

7/5/2015 2:26:00 PM Vallejo, CA  

thekinghasrisen
Over 2,000 Posts (3,764)
San Diego, CA
30, joined Nov. 2013
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Quote from bluecougareyes:
Every jobless crime ridden town in America run by liberals


I actually wanted to argue this on the merit of facts, but factually speaking...you aren't wrong. The majority of the poorest cities in America are indeed run by Democrats.

7/5/2015 2:33:36 PM Vallejo, CA  
condor_0000
Over 10,000 Posts!!! (11,436)
Tampa, FL
57, joined Feb. 2013


Quote from thekinghasrisen:
I actually wanted to argue this on the merit of facts, but factually speaking...you aren't wrong. The majority of the poorest cities in America are indeed run by Democrats.


What is lacking from the right-wing (Republicans as well as Democrats) is any analysis of why that might be the case.

As we've seen with the results of Barack Obama, American capitalism decided (quite correctly) that the Democrats were much better positioned to deliver their self-serving, raping, looting, right-wing agenda.

Obama is by far the greatest, right-wing, capitalist president America has ever had, far outdistancing Republican Ronald Reagan. In fact, Reagan couldn't clean the poop stains out of Obama's underwear. If right-wingers had a brain of their own and were able to think for themselves they would love Obama and hate Reagan. But right-wingers have been brainwashed into loving Republicans and hating Democrats regardless of the facts.

------------

Right-wing, capitalist Dow has almost tripled under Democrat Barack Obama


Taxes Are Lower Under Obama Than Reagan
By Pat Garofalo
June 1, 2011
http://thinkprogress.org/economy/2011/06/01/233526/

Under Obama Right-wing, Capitalist Profits Twice as High as During President Reagan’s Terms, More than Any President Since WWII
Posted on February 18, 2013
by Michael Morrison
http://www.decisionsonevidence.com/2013/02/under-obama-profits-twice-as-high-as-during-president-reagans-terms-more-than-any-president-since-wwii/

Obama Administration Deported Record 1.5 Million People
by Corey Dade
December 24, 2012
http://www.npr.org/blogs/itsallpolitics/2012/12/24/167970002/obama-administration-deported-record-1-5-million-people

Obamacare is a Republican Construct (So Why Are They So Upset?)
by Robert Reich
October 27, 2013
https://www.commondreams.org/view/2013/10/27-0

Obama pushes right-wing program to turn public schools over to corporations
By Steve Light and A. Woodson
23 December 2013
World Socialist Web Site
http://www.wsws.org/en/articles/2013/12/23/tech-d23.html

Obama administration spearheads wage cuts for American workers
By Patrick Martin
5 May 2009
World Socialist Web Site
https://www.wsws.org/en/articles/2009/05/wage-m05.html

US income inequality continued to soar in 2014
By Andre Damon
2 July 2015
World Socialist Web Site
http://www.wsws.org/en/articles/2015/07/02/saez-j02.html

7/5/2015 2:34:43 PM Vallejo, CA  
popado2
Over 2,000 Posts (3,636)
Eaton Rapids, MI
43, joined Jul. 2014


Quote from thekinghasrisen:
I actually wanted to argue this on the merit of facts, but factually speaking...you aren't wrong. The majority of the poorest cities in America are indeed run by Democrats.


Yet has no real value in any conversation or debate other then what party represents those cities. It's a right wingers blind whammy and nothing more.

7/5/2015 2:51:32 PM Vallejo, CA  
61falcon
Over 10,000 Posts!!! (26,747)
New Hope, PA
74, joined Feb. 2008
online now!


RIGHT NOW there are over 5.3 MILLION unfilled jobs in the USA as millions of 18-54 year old workers voluntarily drop[ out of the workforce.
#5. Our military veterans and many city fireman and cops can retire after 20 years service regardless of their age and begin collecting immediately,an example would be txninnc right here on DH.These individuals can begin collecting as early as age 37 for the rest of their natural lives....We have the mass of non governmedntal employees, who pay government salaries and pensions, having to work until age 67 to begin collecting Social Security supporting those who retired at 37??Something is wrong with that.NO ONE should retire in their 30's,40's or 50's.We have promised pensions art gthe Federal,State,Loc al and municipal levels that are currently bankrupting States and City's and they will do the same to the Federal government.ALL government employees at all levels should be in Social Security and should retire at Social Security age with Social Security type benefits.Just because you are in the military or a cop or fireman or congressman you are not ROYALTY to be treated far better than those who through their taxes pay your salary and your pensions.

7/5/2015 3:03:13 PM Vallejo, CA  
sillylaugher61
Over 4,000 Posts! (7,451)
Murrysville, PA
53, joined Aug. 2011


Quote from txninnc:
This one tops the list. A trillion dollars thrown in the toilet with the stroke of a pen.

Obama Jokes at Jobs Council: 'Shovel-Ready Was Not as Shovel-Ready as We Expected'

President Obama's Council on Jobs and Competitiveness met today in Durham, NC at Cree Inc., a company that manufactures energy-efficient LED lighting. One of the Council's recommendations to President Obama was to streamline the federal permit process for construction and infrastructure projects. It was explained to Obama that the permitting process can delay projects for "months to years ... and in many cases even cause projects to be abandoned ... I'm sure that when you implemented the Recovery Act your staff briefed you on many of these challenges." At this point, Obama smiled and interjected, "Shovel-ready was not as ... uh .. shovel-ready as we expected." The Council, led by GE's Jeffrey Immelt, erupted in laughter.

The Obama administration promised the Recovery Act ("the stimulus") would prevent the jobless rate from going over 8%. It now stands at 9.1%.

http://nation.foxnews.com/president-obama/2011/06/13/obama-jokes-jobs-council-shovel-ready-was-not-shovel-ready-we-expected


THE REAL UNEMPLOYMENT RATE IS ACTUALLY CLOSER TO 25%!!!!
the only shovel ready jobs are the ones needed to shovel all the shit this administration
throws in face of the ave. American.

7/5/2015 3:09:02 PM Vallejo, CA  

thekinghasrisen
Over 2,000 Posts (3,764)
San Diego, CA
30, joined Nov. 2013
online now!


Quote from sillylaugher61:
THE REAL UNEMPLOYMENT RATE IS ACTUALLY CLOSER TO 25%!!!!
the only shovel ready jobs are the ones needed to shovel all the shit this administration
throws in face of the ave. American.


Do you know why no one uses that figure but right wing pundits (and Bernie Sanders)?

Because it doesn't differentiate indivuals based on WHY they are out of the workforce. People on SS children and disabled people are counted in that figure.

Republicans knew that when Bush was in office but suddenly forgot when Obama was inaugurated. Like I always say: be right, be wrong, but be consistent.



[Edited 7/5/2015 3:09:35 PM ]

7/5/2015 3:11:13 PM Vallejo, CA  
lennyjohn58
Over 1,000 Posts (1,285)
Albuquerque, NM
56, joined Feb. 2015
online now!


Quote from sillylaugher61:
THE REAL UNEMPLOYMENT RATE IS ACTUALLY CLOSER TO 25%!!!!
the only shovel ready jobs are the ones needed to shovel all the shit this administration
throws in face of the ave. American.


F**k off c*nt.

Repukes haven't done a f**king thing to create any jobs. F**king useless.

7/5/2015 3:44:24 PM Vallejo, CA  
condor_0000
Over 10,000 Posts!!! (11,436)
Tampa, FL
57, joined Feb. 2013


Quote from 61falcon:
RIGHT NOW there are over 5.3 MILLION unfilled jobs in the USA as millions of 18-54 year old workers voluntarily drop[ out of the workforce.
#5. Our military veterans and many city fireman and cops can retire after 20 years service regardless of their age and begin collecting immediately,an example would be txninnc right here on DH.These individuals can begin collecting as early as age 37 for the rest of their natural lives....We have the mass of non governmedntal employees, who pay government salaries and pensions, having to work until age 67 to begin collecting Social Security supporting those who retired at 37??Something is wrong with that.NO ONE should retire in their 30's,40's or 50's.We have promised pensions art gthe Federal,State,Loc al and municipal levels that are currently bankrupting States and City's and they will do the same to the Federal government.ALL government employees at all levels should be in Social Security and should retire at Social Security age with Social Security type benefits.Just because you are in the military or a cop or fireman or congressman you are not ROYALTY to be treated far better than those who through their taxes pay your salary and your pensions.


The idea that Americans are simply refusing to work because they no longer need jobs is belied by the statistics. Were it true that corporations are struggling to find employees to fill vast numbers of job openings we would expect to see wages surging higher as employers are forced to pay up to obtain quality workers. But that's not at all what we are seeing.

----------------

Behind the US jobs report: Low wages and persistent mass unemployment
By Gabriel Black
7 March 2015
World Socialist Web Site
https://www.wsws.org/en/articles/2015/03/07/econ-m07.html

The US economy created 295,000 new jobs in February, according to a Bureau of Labor Statistics (BLS) report released Friday. The percentage of the population officially unemployed shrank by 0.2 percentage points to 5.5 percent.

The report sent tremors throughout Wall Street, with the Dow Jones Industrial Average falling 1.5 percent. Investors fear that any slacking of the jobs crisis could lead the Federal Reserve to scale back on its policy of ultra-low interest rates that has formed the basis of financial speculation in recent years.

Media outlets have celebrated the jobs report as a sign of the US economy’s growing strength. However, some have been confused with the question, voiced by the New York Times, “So Why Aren’t Wages Rising More?”

Behind the headline figures of February’s report lie two underreported facts. First, the fall in the official unemployment rate is largely fictional. Second, new jobs are concentrated in lower-paying sectors, while the overall wages of workers throughout the economy are under sustained attack.

While February was the 60th straight month of job growth in the private sector, it was also the 11th straight month in a row that the labor participation rate—a more accurate measure of unemployment—remained below 63 percent. The figure fell 0.1 percentage points to 62.8 in February, the lowest level since 1978. The contrast between the extremely low labor participation rate and the ostensibly recovering official unemployment rate arises from the fact that millions of unaccounted laborers in the official statistics cannot find suitable work.

Indeed, more than two-thirds of the drop in the jobless rate was due to workers leaving the workforce, not workers finding jobs. In February the number of people reported as being unemployed shrank by 274,000. Of those, 178,000 left the work force and 96,000 gained jobs.

According to the Economic Policy Institute (EPI), there were 5,970,000 unemployed workers missing from the official statistics in this month’s job report. Were they to be added to the unemployment rate, it would stand at 9 percent. These missing workers “are people who would be either working or looking for work if job opportunities were significantly stronger.” The EPI notes that more than half of these missing workers are in their prime age of working, between the ages of 25 and 54.

There are several signs that the jobs market is entering a renewed downturn. The number of Americans who filed new claims for unemployment benefits rose sharply last week, by 7,000, to a seasonally adjusted 320,000.

Meanwhile, Challenger, Gray & Christmas, the consultancy firm that tracks mass layoffs, reported yesterday that US employers announced 103,620 planned layoffs in the first two months of 2015, up nearly 20 percent from the same period last year.

As for wages, they remained stagnant for non-supervisory and production workers, the bulk of the workforce. Wages for all workers rose slightly, by $0.03.

One commentator on National Public Radio noted, “We’re adding most of our jobs at or slightly above minimum wage, and as long as that’s the case, you’re not going to get a whole lot of upward pressure on wages.”

A report released last April by the National Employment Law Project, “The Low-Wage Recovery,” found that unlike previous recessions and post-recession recoveries, the current “recovery” has been dominated by low-wage growth. The authors wrote, “We find that low-wage job creation was not simply a characteristic of the first phase of the recovery, but rather a pattern that has persisted for more than four years now. Deep into the recovery, job growth is still heavily concentrated in lower-wage industries.”

The largest industry to gain workers in February was in “food services and drinking places,” which saw 59,000 new jobs, or about a fifth of all gains. Professional and business services increased by 51,000 jobs, retail by 31,000, construction by 29,000 and health care by 24,000. Part-time workers stood unchanged at 6.6 million people.

The Obama administration’s “recovery,” characterized by high stock prices for the rich, stagnating or declining wages for the majority, and long-term unemployment, is not a policy accident. Starting with the bailout of the auto companies, which cut in half the wages for new hires, the administration has led the charge in “wage restructuring” and “downsizing” in order to make American workers more easily exploitable. Meanwhile, the bailout of the banks and Federal Reserve’s quantitative easing program have ensured record profits and stock prices for the super-rich.

7/5/2015 5:27:51 PM Vallejo, CA  

nycman530
Over 10,000 Posts!!! (13,764)
New York, NY
62, joined Dec. 2010


Evil has taken over the White House, our nation,and our leaders. We must pray for their downfall.

7/5/2015 5:29:45 PM Vallejo, CA  
condor_0000
Over 10,000 Posts!!! (11,436)
Tampa, FL
57, joined Feb. 2013


Quote from nycman530:
Evil has taken over the White House, our nation,and our leaders. We must pray for their downfall.


Yes. And that evil is called "capitalism."

7/5/2015 5:31:26 PM Vallejo, CA  

txninnc
Over 2,000 Posts (2,834)
Euless, TX
47, joined May. 2014
online now!


Quote from condor_0000:
Yes. And that evil is called "capitalism."


Which is what gives you a paycheck

7/5/2015 5:40:17 PM Vallejo, CA  

muldoon1959
Over 10,000 Posts!!! (13,992)
Vallejo, CA
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Actually, it's more like a quarter of a paycheck.
And that's the point that you're too stupid to understand.

7/5/2015 6:12:34 PM Vallejo, CA  
lennyjohn58
Over 1,000 Posts (1,285)
Albuquerque, NM
56, joined Feb. 2015
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Maybe they can come up with one stupid economic idea for each candidate.

16 crazy candidates 16 crazy economic ideas

7/5/2015 6:31:33 PM Vallejo, CA  

txninnc
Over 2,000 Posts (2,834)
Euless, TX
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Quote from muldoon1959:
Actually, it's more like a quarter of a paycheck.
And that's the point that you're too stupid to understand.


So we'll be better under communism?

7/5/2015 6:38:38 PM Vallejo, CA  

muldoon1959
Over 10,000 Posts!!! (13,992)
Vallejo, CA
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Thinking just isn't your strong point is it.

7/5/2015 6:46:13 PM Vallejo, CA  
61falcon
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New Hope, PA
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My son works for a major nationwide construction firm and he tells me they have to turn down bids on jobs because they cannot find enough qualified framers and general construction workers.

7/5/2015 7:03:31 PM Vallejo, CA  
aposorichie
Over 2,000 Posts (3,086)
Berwyn, IL
59, joined Jan. 2009


Quote from 61falcon:
My son works for a major nationwide construction firm and he tells me they have to turn down bids on jobs because they cannot find enough qualified framers and general construction workers.


BS. There aren't any construction jobs liar. And housing isn't booming.

7/5/2015 7:08:13 PM Vallejo, CA  
mr_optimistic
Las Vegas, NV
64, joined Nov. 2010


Quote from lennyjohn58:
Maybe they can come up with one stupid economic idea for each candidate.

16 crazy candidates 16 crazy economic ideas



Chicago public school layoffs 1,500 due to budget

http://www.chicagotribune.com/business/ct-illinois-layoffs-1203-biz-20141202-story.html

7/5/2015 7:21:44 PM Vallejo, CA  
61falcon
Over 10,000 Posts!!! (26,747)
New Hope, PA
74, joined Feb. 2008
online now!


He doesn't build housing his firm that he works for builds mostly commercial buildings and they have more work than they can find qualified job seekers to fill and they aren't alone.There are 5.3 MILLION job vacancies listed by the nations employment agents.

7/5/2015 9:22:40 PM Vallejo, CA  

testsignup
Over 4,000 Posts! (5,458)
Springfield, VA
62, joined Sep. 2009


My own personal frustration with pretty much ALL the Republican "Economics experts," is that not ONE of them understands the most fundamental thing that makes any economy grow and prosper.

A strong customer base.

Instead, most of these self-deluded greedy fools, keep insisting that businesses expand entirely because the owners have extra cash on hand, and ignore the fact that their customers don;t have any spending money (because the GOP took it away to fund tax breaks for business owners and investors).

It's the reason why the Bush tax cuts did next to nothing for the economy: all the intelligent business people saw that no one was able to buy anything, so they took the tax cut money and put it into buying down their own debt. No additional hiring, no expansion.

Because most successful business people DO know how capitalism works.

Frankly, I'd love to see us try shifting the entire tax burden to the upper incomes and to businesses. That would accomplish a couple of things: it would dramatically simplify and thus reduce the cost of collecting taxes, because the businesses ALREADY have tax collection and payment structures in place, as well as already maintaining the necessary paperwork to make it all easy to do. The taxes would indeed be passed on to buyers, as they already are, and thus instead of the government having to pay to collect taxes in a hundred different ways, they would get them all from just two places, and thus the overall tax burden could be reduced accordingly.

OF course I know the GOP would never go for this. They only support efficiency in Government when it means reducing money going to the lower classes.

7/5/2015 9:54:53 PM Vallejo, CA  

starfox22
Over 4,000 Posts! (4,360)
Castle Rock, CO
58, joined Jan. 2009
online now!


Quote from bluecougareyes:
Every jobless crime ridden town in America run by liberals


A FACT completely lost on them. They simply choose to ignore truths that get in the way.

7/17/2015 3:05:00 PM Vallejo, CA  
fellowforyou
Over 2,000 Posts (2,135)
New York, NY
65, joined Jan. 2010


So many to select from...Bush will follow in his brothers footsteps.

7/17/2015 3:06:00 PM Vallejo, CA  
fellowforyou
Over 2,000 Posts (2,135)
New York, NY
65, joined Jan. 2010


Jeb Bush is far ahead. Leave it to him

7/17/2015 3:08:28 PM Vallejo, CA  

hurryme
Over 10,000 Posts!!! (13,023)
Bloomingdale, GA
50, joined Mar. 2011
online now!


Quote from 61falcon:
He doesn't build housing his firm that he works for builds mostly commercial buildings and they have more work than they can find qualified job seekers to fill and they aren't alone.There are 5.3 MILLION job vacancies listed by the nations employment agents.


Where does he work? China?

7/17/2015 3:11:01 PM Vallejo, CA  

libexterminator
Over 4,000 Posts! (6,878)
Wyandotte, MI
54, joined Dec. 2011


Why is it that everything liberals touch quickly turns to shit?.

7/17/2015 3:37:31 PM Vallejo, CA  
nat_now
Over 10,000 Posts!!! (33,586)
Ocala, FL
56, joined Jul. 2013


Test/quote:
Frankly, I'd love to see us try shifting the entire tax burden to the upper incomes and to businesses. That would accomplish a couple of things: 

^^^
What's your figure on "upper"? And what size business? Selling Tupperware?

***

1. Gop idea: if you get to 65 and you make 200k, you don't get soc sec.
Leave it for the poorer.

2. Raising age of retirement to 70 (for the 20/30 somethings who will be living longer, why not, mine's at 67and a half now!

3. Eliminate IRS? File on a postcard.
(Who processes the postcards?)

4. Let local school districts/states decide their own education, not the feds managing it. (Would that eliminate another federal agency?)
I prefer the idea that a state handles their own affairs.

Why are the feds taking it all then distributing it out as THEY see fit?
They skim..., give themselves raises, decide state grants, ....we can take care of our own.

7/18/2015 8:17:44 PM Vallejo, CA  
sillylaugher61
Over 4,000 Posts! (7,451)
Murrysville, PA
53, joined Aug. 2011


Quote from libexterminator:
Why is it that everything liberals touch quickly turns to shit?.


cause just like water will find its own level, so does shit!

8/1/2015 11:22:51 AM Vallejo, CA  
fellowforyou
Over 2,000 Posts (2,135)
New York, NY
65, joined Jan. 2010


Hard to say which was worst. Trickle down economics

8/1/2015 3:18:15 PM Vallejo, CA  

testsignup
Over 4,000 Posts! (5,458)
Springfield, VA
62, joined Sep. 2009


Quote from nat_now:
Test/quote:
Frankly, I'd love to see us try shifting the entire tax burden to the upper incomes and to businesses. That would accomplish a couple of things: 

^^^
What's your figure on "upper"? And what size business? Selling Tupperware?

***

1. Gop idea: if you get to 65 and you make 200k, you don't get soc sec.
Leave it for the poorer.

2. Raising age of retirement to 70 (for the 20/30 somethings who will be living longer, why not, mine's at 67and a half now!

3. Eliminate IRS? File on a postcard.
(Who processes the postcards?)

4. Let local school districts/states decide their own education, not the feds managing it. (Would that eliminate another federal agency?)
I prefer the idea that a state handles their own affairs.

Why are the feds taking it all then distributing it out as THEY see fit?
They skim..., give themselves raises, decide state grants, ....we can take care of our own.


One of the things that most pro-privatization people correctly talk about, is that most businesses don't do the same thing twelve different ways, when one will do, and require less labor. That's my thinking here. Instead of every business owner having to both file as a person and as a business owner, he'd only file once. Most of the complicated tricks and schemes wouldn't be necessary, and the entire tax code could be simplified tremendously. Business costs would be reduced by eliminating the need for them to track and document the finances of every employee.

And this would NOT add a huge burden to the businesses themselves, since all that they ever do, is add their taxes into their costs, and price everything accordingly. That already means that the taxes the business owners pay, require that profit margin be added to them before they are passed on, so American customers have to pay the business owners taxes for them PLUS an additional uplift. That means that the American cost of living is being distorted and bloated by their having to pay both their own, AND their employer's tax bills.

Want to eliminate the IRS, or reduce it? What better way, then a huge simplification of taxation? Tax JUST the businesses. No more need for the Fed to track every man, woman and child from birth to death.

Naturally, lots of other things would need to be changed, or at least could be. For example, to encourage employment of more Americans, require that businesses pay into Social Security for all man hours worked, no matter who works them or how. Take away the incentive to outsource everything overseas.

Anyway, it's been shown again and again, that cutting business taxes does NOT result in economic growth. Only in more businesses moving their headquarters buildings to the places where taxes are lowest.

That does absolutely NOTHING AT ALL to spur growth, except perhaps in the grounds keeping and janitorial fields in those places. (And according to those who want to lower business and upper class taxes, no Americans want to do any of those jobs, so they'll have to arrange for a "guest worker program" to import janitors and grounds keepers).

Businesses expand when customers buy. That's it. When you cut business owners taxes, and do nothing for the customer class, the result quite logically and naturally, is that the business owners all relocate to your state, and then outsource all manufacturing and other production overseas and hire people who are able to charge less for labor, because their own cost of living is lower.

And notice, that that is exactly what we've been seeing happen to us ever since the 1980's, when the Supply Side Republicans gained their influence.

8/1/2015 4:07:23 PM Vallejo, CA  

m_gonzales
Over 7,500 Posts!! (9,621)
San Antonio, TX
25, joined Sep. 2012


Flat tax is a pretty stupid idea.

8/1/2015 4:45:02 PM Vallejo, CA  
drwookie
Over 4,000 Posts! (6,810)
Reading, PA
61, joined May. 2013


Quote from 61falcon:
He doesn't build housing his firm that he works for builds mostly commercial buildings and they have more work than they can find qualified job seekers to fill and they aren't alone.There are 5.3 MILLION job vacancies listed by the nations employment agents.


When our local hospital posts a job opening, no less than 12 job agencies post that same job opening. Agencies are not a good source for counting openings!



muldoon1959 - Vallejo, CA