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"Why America's Youth Aren't Finding Jobs." The rest of the story

Posted by on Aug. 15, 2013 at 7:03 AM
  • 56 Replies
2 moms liked this


The headline at CNN Money was, "Why America's Youth Aren't Finding Jobs."

If you expected an analysis of how and why President Barack Obama's policies hurt the job market for the young, think again. Believe it or not, CNN wrote a piece, supposedly explaining the tight job market, without using the following words: Obama, Obama administration, taxes, regulations, "stimulus" program or, of course, ObamaCare.

Stunning.

Apparently, CNN believes the country has been on autopilot for the last five years, with policy decisions by the White House having no effect, for good or for ill. Since CNN will not, let's examine the major economic decisions by this administration and their impact on the job market.

"Stimulus": The Obama administration spent nearly $1 trillion on "economic stimulus" that would "save or create" 3.5 million jobs. Did it? "The inability to measure Mr. Obama's jobs formula is part of its attraction," wrote William McGurn in The Wall Street Journal. "Never mind that no one -- not the Labor Department, not the Treasury, not the Bureau of Labor Statistics -- actually measures 'jobs saved.'"

But some things can be measured. To keep pace with the number of new people entering the job market, the economy must produce 150,000 new jobs every month. In July, the economy produced 162,000 jobs. To date, in the four years since the end of the recession, Obama's economy has produced 4,657,000 jobs -- an average of just 97,020 per month. The percentage of civilians 16 years and older working or actively looking for work recently reached a 34-year low. Down from 65.7 when President Barack Obama took office, it is 63.4 today. Would-be workers are simply giving up, frustrated, no longer looking.

Team Obama said that without stimulus, unemployment, which was then 7 percent, could reach as high as 8 percent. Well, Congress did pass stimulus -- and unemployment rose to 10.2 percent in the first year of Obama's presidency.

Tax hikes: In addition to increasing the top marginal income tax rate from 35 to 39.6 percent on the so-called rich, new or increased taxes have been imposed on Medicare -- a 0.9 percent rate increase on wages and a new 3.8 percent tax on investment income for those earning $200,000 or more.

Current and upcoming ObamaCare-related taxes include the so-called "Cadillac" excise tax on high-cost health insurance plans; tax penalties for not purchasing insurance; additional taxes and fees on medical device manufacturers, drug companies and health insurers; a 10 percent tax on indoor tanning services; a 50 percent reduction in allowable flexible spending account (FSA) contributions; and an increase in the threshold required to deduct medical expenses as an itemized deduction.

The Federal Reserve Bank of San Francisco released a report two months ago attributing the "drag" on the economy to new tax hikes. "Surprisingly," said the report, "despite all the attention federal spending cuts and sequestration have received, our calculations suggest they are not the main contributors to this projected drag. The excess fiscal drag on the horizon comes almost entirely from rising taxes."

New regulations: The Obama administration has imposed numerous burdensome and job-killing regulations. According to The Wall Street Journal: "Pages in the Code of Federal Regulations hit an all-time high of 174,545 in 2012. ... The cost of federal rules exceeded $1.8 trillion, roughly equal to the GDP of Canada. These costs are embedded in nearly everything Americans buy ... at $14,768 per household, meaning that red tape is now the second largest item in the typical family budget after housing.

"Last year, 4,062 regulations were at various stages of implementation inside the Beltway. The government completed work on 1,172, an increase of 16 percent over the 1,010 that the feds imposed in 2011, which was a 40 percent increase over 722 in 2010. ... The Obama administration did not break the all-time record of 81,405 pages it set in 2010. But the 78,961 pages it churned out in 2012 mean that the President has posted three of the four greatest paperwork years on record."

ObamaCare: Seventy-four percent of small-business owners say they have or intend to reduce hours, or fire people, or simply not hire as a result of ObamaCare. But, according to Investor's Business Daily, ObamaCare also gives incentives to employees to accept fewer hours: "Some 2.3 million workers might have their hours cut due to ObamaCare's employer mandates, even if there's no negative impact on total hours worked, a recent study from the University of California at Berkeley Labor Center estimated. The other part of the equation involves more government benefits for those facing shorter hours. This will come starting in 2014 from ObamaCare health subsidies. Households working less may also get additional benefits, such as food stamps."

CNN's head-in-the-sand piece on youthful joblessness serves as the latest example of the pro-Obama media's failure, blindness and unwillingness to see and state the obvious. By historical standards, this recovery stinks. To understand why requires a repudiation of the very foundation of leftism. Leftists believe that enlightened government bureaucrats -- meaning themselves -- possess both the power to redistribute wealth from the undeserving to the deserving and the wisdom to know the difference.

Copyright 2013, Creators Syndicate Inc. 

Minnow Slayer

by on Aug. 15, 2013 at 7:03 AM
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Replies (1-10):
stormcris
by Christy on Aug. 15, 2013 at 7:19 AM
7 moms liked this

Well all things given Obama's policies are not the reason. As much as we would like to scapegoat the current president he is not the one to blame. He doesn't actually control the Fed. We have to go back to the early 1900s perhaps even as far back as 1893 for that blame. The stimulus slowed the downfall but it could never prevent it entirely. It has some dire side affects. It was also partially a blackmail from some of the 1%. The rats may be jumping ship at this point. It goes on and on. Obama may have contributed but poor policies since the 70s, perhaps even starting in the 60s, have driven us here. Regulations of any kind can be job killing, yet people scream for them all the time. The question is do we want to not have any regulation and a completely free market again? It is not guaranteed that if we do go with that course that jobs will increase but it is a strong possibility. But, can we live with the results.

blondekosmic15
by on Aug. 15, 2013 at 7:34 AM
3 moms liked this

Not surprising CNN failed to accomplish a responsible analysis concerning the job market. I'm also not surprised @ Obama's lack of professionalism & performance as Commander in Chief in terms of the economy, foreign policy, job opportunities, healthcare in this Country. When you elect an amateur with no experience or responsible vision for America, prosperity & peace an allusion, mere dreams never to be fulfilled. I really wish more Americans would have done their homework on Barack Obama prior to elections in '08 & contemplated the monumental mess the future would bring us, our children & grandchildren under Obama's leadership & lack of professional skills. Any fair minded intelligent thinking individual would have seen the train wreck headed our way once he walked thru the Rose Garden into the Oval Office~

quote>

CNN's head-in-the-sand piece on youthful joblessness serves as the latest example of the pro-Obama media's failure, blindness and unwillingness to see and state the obvious. By historical standards, this recovery stinks. To understand why requires a repudiation of the very foundation of leftism. Leftists believe that enlightened government bureaucrats -- meaning themselves -- possess both the power to redistribute wealth from the undeserving to the deserving and the wisdom to know the difference.

stacymomof2
by Ruby Member on Aug. 15, 2013 at 8:03 AM
2 moms liked this
There is a lot more to it than just "leftist policies." I am suspicious of this article because it fails to acknowledge that the majority of the 1 billion dollar stimulus package was tax cuts. Hundreds of millions in tax cuts. If the author doesn't acknowledge that I think the article is ignoring the whole issue. Some things worked and some didn't, but this article is dishonest about the polcies that were actually used.
Carpy
by Ruby Member on Aug. 15, 2013 at 8:08 AM
4 moms liked this
Start with Wilson and move forward Obama's a huge supporter of progressive policies and yes, many of his policies ARE causing severe damage to and already damaged economy. To claim otherwise is just keeping your head in the sand.

Quoting stormcris:

Well all things given Obama's policies are not the reason. As much as we would like to scapegoat the current president he is not the one to blame. He doesn't actually control the Fed. We have to go back to the early 1900s perhaps even as far back as 1893 for that blame. The stimulus slowed the downfall but it could never prevent it entirely. It has some dire side affects. It was also partially a blackmail from some of the 1%. The rats may be jumping ship at this point. It goes on and on. Obama may have contributed but poor policies since the 70s, perhaps even starting in the 60s, have driven us here. Regulations of any kind can be job killing, yet people scream for them all the time. The question is do we want to not have any regulation and a completely free market again? It is not guaranteed that if we do go with that course that jobs will increase but it is a strong possibility. But, can we live with the results.

yourspecialkid
by Platinum Member on Aug. 15, 2013 at 8:15 AM
2 moms liked this

 Yes, problems have been building for years.  That doesn't give Obama a pass for adding to the problem.  When are we going to grow a set and say STOP..just because the other guy did it doesn't mean we will continue to tolerate it.

I think, and I base this on my own observations, that another reason is simply that they don't want a job..or they made a venture into the job market and learned paychecks require work. 

stormcris
by Christy on Aug. 15, 2013 at 8:33 AM
2 moms liked this

Yes, but I think many are missing the actual policies that are causing the bigger problems. They do not make front line news. Giving power to those outside of public scrutiny doesn't make for a healthy economic policy. 

Quoting Carpy:

Start with Wilson and move forward Obama's a huge supporter of progressive policies and yes, many of his policies ARE causing severe damage to and already damaged economy. To claim otherwise is just keeping your head in the sand.

Quoting stormcris:

Well all things given Obama's policies are not the reason. As much as we would like to scapegoat the current president he is not the one to blame. He doesn't actually control the Fed. We have to go back to the early 1900s perhaps even as far back as 1893 for that blame. The stimulus slowed the downfall but it could never prevent it entirely. It has some dire side affects. It was also partially a blackmail from some of the 1%. The rats may be jumping ship at this point. It goes on and on. Obama may have contributed but poor policies since the 70s, perhaps even starting in the 60s, have driven us here. Regulations of any kind can be job killing, yet people scream for them all the time. The question is do we want to not have any regulation and a completely free market again? It is not guaranteed that if we do go with that course that jobs will increase but it is a strong possibility. But, can we live with the results.


IhartU
by Gold Member on Aug. 15, 2013 at 8:37 AM
6 moms liked this

The only answer is to fire everyone in the government and start all over. The mess is huge, everyone is corrupt and there is no way anything is going to get better.

sweet-a-kins
by Emerald Member on Aug. 15, 2013 at 9:43 AM

 going crazy

Obama Derangement Syndrome is real

If you or anyone you know suffers from ODS

Tough T*ts

Offer a better candidate and maybe one day

Your party will be relevant again

idunno1234
by Silver Member on Aug. 15, 2013 at 10:11 AM
4 moms liked this

 Why is it that so many act as if the President can just push a magic button, wave a magic wand or even put forth a common sense policy and the economy will be healed??

This is a global, messy, prone to psychological whims/fears/global unrest type economy.

The President's ability to do much of anything, any Presiden'ts ability, is extremely limited and subjected to the whims of our legislators and what is going on around the globe.

Before Obama was even elected we knew the economy was on a big slide downward, yet because we have a Democrat in office, its somehow all of his fault, how???


Quoting Carpy:

Start with Wilson and move forward Obama's a huge supporter of progressive policies and yes, many of his policies ARE causing severe damage to and already damaged economy. To claim otherwise is just keeping your head in the sand.

Quoting stormcris:

Well all things given Obama's policies are not the reason. As much as we would like to scapegoat the current president he is not the one to blame. He doesn't actually control the Fed. We have to go back to the early 1900s perhaps even as far back as 1893 for that blame. The stimulus slowed the downfall but it could never prevent it entirely. It has some dire side affects. It was also partially a blackmail from some of the 1%. The rats may be jumping ship at this point. It goes on and on. Obama may have contributed but poor policies since the 70s, perhaps even starting in the 60s, have driven us here. Regulations of any kind can be job killing, yet people scream for them all the time. The question is do we want to not have any regulation and a completely free market again? It is not guaranteed that if we do go with that course that jobs will increase but it is a strong possibility. But, can we live with the results.


 

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