It takes a special kind of idiot to take things and pretend as though they don’t exist. It’s no hidden secret that the GOP is dead set on blocking anything and everything that Obama proposes. I don’t see that as a long-term positive agenda for effective governance, but then again, we haven’t seen positive and/or effective governance in decades. Anyway, I happened upon this set of questions from one Larry Elder today that left me scratching my head to the point where I almost drew blood.
How’s the left-wing, ivory-tower, we-know-best elitist Obamanomics working for you? Here’s the news.
First-quarter gross domestic product numbers for 2013 were recently revised — downward from 1.8 percent to 1.1 percent. For perspective, four years into the recovery from the last deep recession in ’81-’82, the economy grew at 4.1 percent.
Let’s try to decipher this crap to see if we can separate the fact from the rhetoric. Maybe then, we can give an honest answer to these questions.
As I stated earlier, the GOP is blocking anything and everything Obama wants to do like your old girlfriend’s little brother at a drive-in movie. What’s being referred to as Obamanomics should actually be called GOPblockonomics. I don’t recall any significant economic legislation coming from Congress since the stimulus plan. I think the stimulus was well intended, but as typical with the DC crowd, it was ill-planned, ill-written, and ill-executed. The money that should have been funneled to citizens ended up on the books of corporations to pad their bottom lines just as TARP did. The only other economic legislation of any significance was the sequester, and we are more likely to see salmon chasing and eating grizzly bears before that hunk of crap legislation provides any positive economic benefit.
So, in essence, what’s supposed to be some leftist, elitist economic policy is nothing but the GOP being obstructionistic asshats. As a matter of comparison using the same time periods, Reagan’s recovery came by way of Democrats and Republicans working TOGETHER for the good of the country. Contrary to popular folklore, Reagan also increased taxes numerous times after his first big tax cut. Those who suffer short-term memory loss and study revisionist history seem to forget about those tax hikes to offset the tax cuts. Anyway, the two recessions are not one and the same nor are they interchangeable for comparison’s sake. However, the simpleton mind will stretch to any means to validate ideological thinking.
As for the declining labor force rate, a simple google search will reveal there are several causes for that, some of which were anticipated long ago. A number that I ran across years ago still baffles my mind when I think about it. I also wonder why it’s never mentioned when people talk about the “shrinking” workforce.
From Pew Research:
As the year 2011 began on Jan. 1, the oldest members of the Baby Boom generation celebrated their 65th birthday. In fact, on that day, today, and for every day for the next 19 years, 10,000 baby boomers will reach age 65. The aging of this huge cohort of Americans (26% of the total U.S. population are Baby Boomers) will dramatically change the composition of the country. Currently, just 13% of Americans are ages 65 and older. By 2030, when all members of the Baby Boom generation have reached that age, fully 18% of the nation will be at least that age, according to Pew Research Center population projections.
So, let’s do the math on that. If there are 10k reaching retirement age every day, that means there is the potential for 300k workers to leave the workforce each month for the next 19 years. Looking at it another way, that’s 3.6 million workers every year that reach retirement eligibility. That’s not to say that each and every single one of them is exiting the workforce on that 65th birthday. However, it’s pretty safe to say that, when jobs are scarce, old people are not the ones getting hired first. I wonder why you don’t hear economists and/or pundits discussing these things when talking about the job and workforce numbers.
People need to quit feeding at the altar of the idiot box. It’s too easy to search for underlying factors in relation to our economic issues. Simply playing ideological fool is far easier than being honest and telling the truth to the American public. There’s probably more money to be made feeding the ideological mind. Our economy could be and should be better than it is now. That, however, takes positive and effective governance from our elected officials. When one party has the collective spine of a single-celled amoeba while the other party is intent on stopping this country dead in its tracks, I guess we should be thankful that we’re not all in bread lines and living in mud huts. That may be the plan all along though. Monopoly isn’t over until one person has all the money, and the monied class in this country appears to think life is a game of Monopoly.
- Baby Boomers Hit Hardest by ‘Great Recession’ (hngn.com)
- Report: Immigrants and Their Children To Fill Workforce Gaps Left by Aging Baby Boomers (alternet.org)
- How the Baby Boomers Destroyed America’s Future (fool.com)
- What has Obamanomics brought us? (hotair.com)
- Research: The Labor Force Participation Rate Will Stay Flat Through 2015 (businessinsider.com)