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 Post subject: 94,044,000 Americans Not in the Labor Force
PostPosted: Fri May 06, 2016 9:30 am 
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94,044,000 Americans Not in the Labor Force

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The number of Americans not in the workforce during the month of April increased substantially compared to the previous month — again tipping over the 94 million mark — according to the latest Labor Department data.

The Bureau of Labor Statistics reports Friday that 94,044,000 Americans were neither employed nor made an effort to find employment — due to discouragement, retirement, schooling or otherwise — in April.

Last month’s numbers represented an increase of 562,000 over the month of March, when 93,482,000 Americans were out of the workforce.

April’s comparatively high non-participation level halted an earlier trend of decline that followed after the number of people out of the workforce hit a record high of 94,610,000 last October.

The labor force participation rate also took a slight hit, declining from 63.0 percent in March to 62.8 percent in April. Though lower than the month prior, April’s participation rate was slightly higher than it was a year ago.

Additionally the civilian labor force declined by 362,000 people compared to March, hitting 158,924,000.

In total 151,320,000 Americans had a job last month and another 7,920,000 Americans were unemployed.

Overall the economy added 160,000 confirm payroll jobs in April and the unemployment rate remained at 5.0 percent.


http://www.breitbart.com/big-government ... 5/06/jobs/

The scale of these numbers never ceases to amaze me. $21 trillion in national debt, $200 trillion in unfunded liabilities, they're going to start calling it US government budget notation in lieu of scientific notation. In smaller terms, it's 1 out of every 3 adults in the wagon with only 2 other people left to pull it. UNSUSTAINABLE!

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 Post subject: Re: 94,044,000 Americans Not in the Labor Force
PostPosted: Fri May 06, 2016 10:28 am 
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What's the big deal? More Americans are retiring as predicted. This isn't news.

Focusing on the overall number of unemployed Americans is pointless without understanding the fact that the overall population is also increasing. This is why it is more important to pay attention to the participation rate, which stood at 63% in March. By comparison, it was only 65.1% in May of Reagan's final year. So we're basically talking about a 2% difference which is really pretty good given the fact that baby boomers have been expected to make that number drop around this time. What was Reagan's excuse for it being so low?

And the debt is just over $19 trillion no matter what Brietbart says. And the $200 trillion remark is just stupid.


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 Post subject: Re: 94,044,000 Americans Not in the Labor Force
PostPosted: Fri May 06, 2016 10:36 am 
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If Hillary is elected, I predict the debt will rise to over $30 trillion before she leaves office.

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 Post subject: Re: 94,044,000 Americans Not in the Labor Force
PostPosted: Fri May 06, 2016 11:03 am 
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ajax18 wrote:
If Hillary is elected, I predict the debt will rise to over $30 trillion before she leaves office.


Maybe she'll fund another ridiculous war that has cost us 4 trillion and counting like President Bush did.

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 Post subject: Re: 94,044,000 Americans Not in the Labor Force
PostPosted: Fri May 06, 2016 11:25 am 
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Doctor CamNC4Me wrote:
ajax18 wrote:
If Hillary is elected, I predict the debt will rise to over $30 trillion before she leaves office.


Maybe she'll fund another ridiculous war that has cost us 4 trillion and counting like President Bush did.

- Doc


Maybe. But not all wars are ridiculous. Just the vast majority of them.


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 Post subject: Re: 94,044,000 Americans Not in the Labor Force
PostPosted: Fri May 06, 2016 12:07 pm 
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Quote:
Maybe she'll fund another ridiculous war that has cost us 4 trillion and counting like President Bush did.


Even astronomical figures like $4 trillion are going to look small when the interest payments on the debt really start to compound.

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 Post subject: Re: 94,044,000 Americans Not in the Labor Force
PostPosted: Fri May 06, 2016 12:19 pm 
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ajax18 wrote:
94,044,000 Americans Not in the Labor Force

Quote:
The number of Americans not in the workforce during the month of April increased substantially compared to the previous month — again tipping over the 94 million mark — according to the latest Labor Department data.


People are retiring when they turn 65 and it's all Obama's fault!

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 Post subject: Re: 94,044,000 Americans Not in the Labor Force
PostPosted: Fri May 06, 2016 12:37 pm 
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Not the Greatest Jobs report today, However:

Gasoline Prices are still under $2.50 a gallon. Link

The Unemployment rate is still at 5 percent. Link

And we now have 74 straight months of private-sector growth. Link

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 Post subject: Re: 94,044,000 Americans Not in the Labor Force
PostPosted: Fri May 06, 2016 12:46 pm 
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Quote:
People are retiring when they turn 65 and it's all Obama's fault!


No, much of the interest we're currently being punished with is due to FDR and LBJ who created these unsustainable entitlement programs. BHO is responsible for refusing to make any reforms to entitlements that were sorely needed.

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 Post subject: Re: 94,044,000 Americans Not in the Labor Force
PostPosted: Fri May 06, 2016 12:57 pm 
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ajax18 wrote:
Quote:
People are retiring when they turn 65 and it's all Obama's fault!


No, much of the interest we're currently being punished with is due to FDR and LBJ who created these unsustainable entitlement programs. BHO is responsible for refusing to make any reforms to entitlements that were sorely needed.


As if Congress was passing bills that responsibly fixed the entitlement programs but Obama refused to sign them.

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 Post subject: Re: 94,044,000 Americans Not in the Labor Force
PostPosted: Fri May 06, 2016 1:22 pm 
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Quote:
No, much of the interest we're currently being punished with is due to FDR and LBJ who created these unsustainable entitlement programs. BHO is responsible for refusing to make any reforms to entitlements that were sorely needed.


That's utter ____. Do you feel better about yourself or something when you just spout ignorant ____ like this? Social Security is not driving the debt, let alone the "interest" on the debt. As if Republicans ever gave a flying damn about the debt to begin with. Tell me ajax, what's the danger of having a $19 trillion debt? At what point are we going to see all these doomsday scenarios you guys love to talk about?


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 Post subject: Re: 94,044,000 Americans Not in the Labor Force
PostPosted: Fri May 06, 2016 2:04 pm 
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Quote:
Tell me ajax, what's the danger of having a $19 trillion debt? At what point are we going to see all these doomsday scenarios you guys love to talk about?


What needs to be spent so bad that we should have any debt at all? Do you like the idea of several hours/day of your day's labor being to pay interest on debts? I know this assumes that you pay income taxes, which a large percentage of voters do not. I guess debt takes on a different perspective in such a situation.

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 Post subject: Re: 94,044,000 Americans Not in the Labor Force
PostPosted: Fri May 06, 2016 2:59 pm 
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Quote:
What needs to be spent so bad that we should have any debt at all? Do you like the idea of several hours/day of your day's labor being to pay interest on debts?


You really don't know why the debt is so high?

The outrageous debt can be blamed mostly on Right Wing policies. You know, things like drastic tax cuts for the wealthy and trillions on military and stupid wars. There is your answer. The debt tripled under Reagan. The debt doubled under George Bush and it nearly doubled the last eight years because dumb wars have a lingering financial impact and Obama wasn't able to bring tax rates back to what they were under Reagan. Blaming Obama is just stupid.

And blaming Social Security for interest is a fool's errand because it doesn't add to the debt. If you did away with Social Security benefits you'd also have to do away with all the taxes that pay for it, so it is a wash and the overall debt remains the same. Calling the program "unsustainable" is something you folks have been saying since it's inception.


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 Post subject: Re: 94,044,000 Americans Not in the Labor Force
PostPosted: Fri May 06, 2016 4:46 pm 
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The risk of high debt is what happened in Greece. If the debt becomes too high, confidence that it will be paid back among investors wanes leading to spikes in the cost of treasury notes, which in turn makes it harder to borrow. If this cycle becomes unsustainable, the government loses the capacity to borrow wealth. This is bad because governments often need to do that to function by funding its outlays. Tax receipts and outlays don't necessarily neatly match up on a month to month basis. If the government defaults, this will lead to a collapse in government services and a severe downturn in the economy. The value of the dollar will inflate to offset this leading to a decline in purchasing power. And with that comes suffering.


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 Post subject: Re: 94,044,000 Americans Not in the Labor Force
PostPosted: Fri May 06, 2016 5:28 pm 
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Uh. Under discretionary spending the military spending consumes 54% of the federal budget per annum. Uptick that another 6% for veterans benefits and you have 60% of the budget. Welfare and Medicare consume only around 11%. Overall interest on the debt consumes around 6%, so I'm not sure why Ajax is griping about 'entitlements' when it's obvious where the real problem lies.

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 Post subject: Re: 94,044,000 Americans Not in the Labor Force
PostPosted: Fri May 06, 2016 7:15 pm 
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Quote:
The outrageous debt can be blamed mostly on Right Wing policies. You know, things like drastic tax cuts for the wealthy and trillions on military and stupid wars.


The Iraq War has ended up adding at least three trillion dollars to the National debt.

How Many U.S. Soldiers Were Wounded in Iraq? Guess Again.

Iraq War Cost U.S. More Than $2 Trillion, Could Grow to $6 Trillion, Says Watson Institute Study

The Staggering Cost Of The Last Decade's US War In Iraq — In Numbers

Study: Iraq, Afghan war costs to top $4 trillion

The U.S. wars in Afghanistan and Iraq will cost taxpayers $4 trillion to $6 trillion, taking into account the medical care of wounded veterans and expensive repairs to a force depleted by more than a decade of fighting, according to a new study by a Harvard researcher.

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 Post subject: Re: 94,044,000 Americans Not in the Labor Force
PostPosted: Fri May 06, 2016 8:13 pm 
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Quote:
so I'm not sure why Ajax is griping about 'entitlements' when it's obvious where the real problem lies.


Your numbers don't add up to 100%. 60+11+6=76. Why did you leave out the other 14%? What does discretionary spending mean?

Quote:
In public finance, discretionary spending is government spending implemented through an appropriations bill. This spending is an optional part of fiscal policy, in contrast to entitlement programs for which funding is mandatory.


Entitlements are so beyond reform, they're not even included as discretionary spending.

I'm surprised you feel so strongly that too much money is spent on the military. Wasn't that your profession? Were you not proving a useful service to the American taxpayer?

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Last edited by ajax18 on Fri May 06, 2016 8:15 pm, edited 1 time in total.

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 Post subject: Re: 94,044,000 Americans Not in the Labor Force
PostPosted: Fri May 06, 2016 8:15 pm 
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EAllusion wrote:
The risk of high debt is what happened in Greece. If the debt becomes too high, confidence that it will be paid back among investors wanes leading to spikes in the cost of treasury notes, which in turn makes it harder to borrow. If this cycle becomes unsustainable, the government loses the capacity to borrow wealth. This is bad because governments often need to do that to function by funding its outlays. Tax receipts and outlays don't necessarily neatly match up on a month to month basis. If the government defaults, this will lead to a collapse in government services and a severe downturn in the economy. The value of the dollar will inflate to offset this leading to a decline in purchasing power. And with that comes suffering.


This is a bad comparison because Greece doesn't produce their own currency. But the question remains. Where is the breaking point? We've been hearing about all these doomsday scenarios and predictions that would happen if we let the debt get too high. When is it too high?


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 Post subject: Re: 94,044,000 Americans Not in the Labor Force
PostPosted: Fri May 06, 2016 8:25 pm 
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Kevin Graham wrote:

This is a bad comparison because Greece doesn't produce their own currency. But the question remains. Where is the breaking point? We've been hearing about all these doomsday scenarios and predictions that would happen if we let the debt get too high. When is it too high?

You can't print money out of a debt crisis without economic consequence. Investors don't like it when you pay them in devalued currency. Would you buy a treasury bond if it was going to mature into a fraction of its value? If Greece had the capacity to peg its own currency, it would still be up a creek. If it was as simple as opting out of the Euro, the Greeks would have done that a long time ago. What they are faced with is a choice between doing that and accepting a severe economic downturn followed by recovery or existing on the debt/anemic economy treadmill until they hopefully grow out of it.

"Too high" isn't something that has a hard number attached to it because it exists on a gradient and is dependent on other variables. That said, 100% of annual GDP is generally considered a benchmark for there being a problem. Crisis numbers are 1.5 to 2 times that usually. But it really depends on a complex array of factors. Some nations can have a higher ratio than others and still retain good credit. We're currently at 104%.


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 Post subject: Re: 94,044,000 Americans Not in the Labor Force
PostPosted: Sat May 07, 2016 8:46 am 
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Does anyone here believe the national debt will ever be paid off?

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 Post subject: Re: 94,044,000 Americans Not in the Labor Force
PostPosted: Sat May 07, 2016 8:55 am 
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ajax18 wrote:
Does anyone here believe the national debt will ever be paid off?

It's healthy for the country to have a small amount of rolling debt. The national debt isn't like having a mortgage. I'm concerned about it getting to levels that can reasonably be considered small due to things like national interest rates, % of budget lost in financing the debt, economic growth rate, etc. We are way over anything that could be considered "small." If we could just get a string of balanced budgets together, we'll eventually grow our way into a more sustainable debt. The absolute number wouldn't even have to change. But even that seems so remote because of the political heft behind defense spending and entitlements.


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