Unprecedented Jobs Crisis

Government policies that facilitate job creation and prosperity are well known and understood.  Yet the President and the political movement he leads obstinately pursue opposite policies. The March jobs report is out and it’s more of the same, a net increase of 192,000 jobs, about average for the past few months.  The unemployment rate was […]

Five Years of Stimulus Debunks Keynesian Theory

The American Recovery and Reinvestment Act is now five years old.  Known affectionately as his “stimulus” it was President Obama’s first legislative triumph, attracting high praise and hosannas from the media. But today, stimulus advocates are on defense, trying to justify an additional trillion dollars in federal debt.  During a campaign style media event to […]

ObamaCare’s Miserly Small Business Tax Credit

Since the Administration’s earliest efforts to persuade America that ObamaCare will do more good than harm, one of the most hyped selling points has been “small business tax credits.” In a September 2009 speech to a joint session of Congress the President promised: For those small businesses who still cannot afford the lower-priced insurance available […]

ObamaCare’s Negative Effect on the Economy

The White House just announced a second one year delay in the ObamaCare employer mandate. The chart below displays economic data that likely influenced last year’s decision to delay the employer mandate from 2014 to 2015, and the latest decision to further delay it until 2016 for a critical segment of the economy, medium sized […]

Headline Jobs Numbers Vs Real Life

Virtually all of the reduction in the official unemployment rate from the peak of 10% in 2009 to the current 7.3% is due to reclassifying jobless people from “unemployed” to “not in the labor force.” The latest jobs report didn’t get much attention as the political-media establishment obsessed over Syria.  The day it was published […]

No Thumbs Up for the July Jobs Report

Historic deterioration of the labor market makes monthly jobs numbers meaningless. The unemployment rate is misleading because millions of jobless people are not counted.  The number-of-jobs-created headline is misleading because of an unprecedented increase in part time employment.  When the latest jobs report was published the White House guided headline writers with this spin from […]

Stubborn Refusal to Acknowledge Economic Reality

The Commerce Department has issued its Economic report for the second quarter.  Gross Domestic Product or GDP increased by an anemic 1.7%.  First quarter GDP, which had already been revised downward from the initially reported 2.5% to 1.8% was further downgraded to 1.1%. Over at the White House web site Alan Kruger, the President’s chief […]

Obama’s Phony Economics

President Obama’s much hyped Big Economic Speeches were largely a rerun of his standard campaign speech, complete with the usual, bitter attacks on House Republicans and misleading or false claims of economic success including: Over the past 39 months, our businesses have created 7.2 million new jobs. The President hopes you’ll perceive this number as […]

First Quarter GDP Downgraded

The Commerce Department just downgraded America’s GDP growth during the first quarter of this year from the anemic 2.5% initially reported back in April to an alarmingly low 1.8%.  For context consider that average quarterly GDP growth during all non-recession periods from 1947 when quarterly GDP reporting began, through  2007 was 4.4%.  The chart below […]

Hidden Context Around Headline Job Numbers

The Labor Department announced that employers created 175,000 jobs in May.  Alan Kruger, Chairman of the President’s Council of economic Advisers, gave us the White House’s upbeat spin: Today’s report from the Bureau of Labor Statistics indicates that private sector businesses added 178,000 jobs last month. Total non-farm payroll employment rose by 175,000 jobs in […]

« Previous PageNext Page »