Faux Shutdown Has No Efffect On Economy
"I Don't Mind A Parasite. I Object To A Cut-Rate One."
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That's what the latest reports out of Washington show. Despite the Democrats attempts to make the country "feel the pain" of "the Republican shutdown" (of 15% of the government), a report at CNBC.com says this:

"Forget the shutdown: Job creation surged in October despite dimmed expectations from the impasse in Washington.

There were a net 204,000 new jobs created for the month, though the unemployment rate rose (from 7.2) to 7.3 percent and households reported a huge drop in employment, the Bureau of Labor Statistics said. A separate measure that includes the underemployed and those who have quit looking also moved higher, from 13.6 percent to 13.8 percent.

The numbers easily topped economist expectations of 120,000 new nonfarm payroll jobs for the month, though it matched estimates for a slight increase in the headline jobless rate."

See: http://www.cnbc.com/id/101182289

Further:

"The (Labor) department said there had been no "discernible" impact on the payroll figures from the 16-day shutdown, adding that it had received an above-average response rate in its survey of employers.

"This was a resoundingly strong report, particularly in the context of the government shutdown which was supposed to wreak havoc on this number," said Tom Porcelli, chief U.S. economist at RBC Capital Markets in New York."

See: http://ca.news.yahoo.com/u-jobs-market-seen-taking-hit-government-shutdown-060557886--business.html

So - while the "shutdown" had little effect, the economic policies of the Obama administration and their failure to focus on the economy is STILL causing an increasing number of people to give up on finding jobs.


Latest Activity: Nov 08, 2013 at 12:52 PM


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sebekm commented on Friday, Nov 08, 2013 at 12:56 PM

....and a LOT of those who have given up are WOMEN. See:

http://ca.news.yahoo.com/u-jobs-marke...

So much for the Republicans' "war on women." The media would do better to investigate why women (and blacks) are taking steps backward under the Obama administration's economic policies.

HMJC commented on Friday, Nov 08, 2013 at 14:53 PM

No one wants to admit that the Community Orginizer has been in over his head from day 1. I am not sure what other failures need to occur before people come out of the entitlement haze. It amazes me that with the current state of our country that Americans continue to keep their heads in the sand. Just how much more do they need to be sc***ed over say enough is enough. Personally I am already there...

PoliticsNation commented on Friday, Nov 08, 2013 at 17:03 PM

The American economy grew more quickly than had been expected in the third quarter. I wonder how well our economy would have fared without obstruction from Republicans.

"At an annual rate of 2.8 percent, the pace of growth over July, August and September was the fastest since the third quarter of 2012, the Commerce Department said Thursday. It was also well above the 2 percent level economists had predicted.

...

Many economists estimate the shutdown, which began on Oct. 1 and lasted until Oct. 17, will reduce growth by between a quarter and half a percentage point in the final three months of the year.

What’s more, reduced government spending continues to weigh on the economy overall, as across-the-board spending cuts imposed by Congress earlier this year begin to bite. In the third quarter, federal spending fell by 1.7 percent, slightly faster than the decline in the second quarter."

(blfbc)

sebekm commented on Sunday, Nov 10, 2013 at 11:36 AM

Yes - the economy grew at a quicker pace than they predicted - NO THANKS TO THE OBAMA ADMINISTRATION. Growing government does not grow the economy. The faux shutdown had NO effect - except to get some in both parties to think clearly and cut a deal.

The Sequester is the best thing that has happened to this economy in the past five years. It is no coincidence that the economy has grown since its implementation. The Dems are spinning the Sequester as being injurious to the economy - but it is the most significant reason their spending has been limited. The consumer - and business - has reacted to this. THAT's why the economy beat growth expectations.

sebekm commented on Sunday, Nov 10, 2013 at 12:05 PM

...and the American people are getting the message. The latest poll shows the following:

"Forty-one percent of those polled approve of how he's handling his job, while 53% disapprove. That's a 14-point drop since December, according to Pew.

Obama's job ratings on the economy have been underwater for more than four years, but the current measure is the worst of his presidency — 31% approve of the way Obama is handling the economy, and 65% disapprove."

See: http://www.usatoday.com/story/news/po...

Only 31% approve of the way Obama is handling the economy. That's basically the Kool-Aid drinkers. As the poll points out, these are approval ratings in DUBYA region.

Also from the above article:

Also notable was Obama's considerable slide in the poll among those who identify themselves as independents.

"Only 32% of independents approve of his job performance, while 61% disapprove. In December, 53% approved and 39% disapproved."

Here we have the crux of why the Obama administration - and specifically President Obama himself - LIED about "keeping your plan/doctor - PERIOD," and didn't say a PEEP about the probable impact of this legislation on insurance rates for millions of Americans. They KNEW back then that if they told the truth, those independents who gave Obama the benefit of the doubt - and with it their votes and the 2012 election - might have seriously thought twice about voting for him if they knew what was REALLY coming at them under ObamaCare. Now they know - and they are fighting mad.

They will make their feelings known in 2014. That's one of the reasons for the widespread predictions that the Dems will suffer losses in the election - and may even lose the Senate. A sizeable number of Dem Senators have withdrawn their heads from their nether regions and now realize this. That's why they have been lobbying for delays and modifications in the law. But as this article points out, anything the Obama Administration does now will be much too little and much too late. The Dems will have to live with the consequences of their actions.

See: http://news.yahoo.com/few-options-oba...


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