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BREAKING: US economy shrank at 2.9 percent annual rate in first quarter

Discussion in 'Sports and News' started by YankeeFan, Jun 25, 2014.

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  1. old_tony

    old_tony Well-Known Member

    The economy just shrunk by 2.9%. We've spent trillions, yet recovery summer (wasn't that 2010, Mr. Biden?) never seems to arrive.

    The unemployment rate hasn't dropped because people went back to work. It dropped because people used up all their unemployment. They still don't have a job, but now they don't count.

    http://data.bls.gov/timeseries/LNS11300000

    There are 3 million fewer people working now than in 2009. And we know that many of the people working now are working part-time instead of full-time.

    And let's not even talk about the whopping number of people now on food stamps, SSDI and all the other forms of government handouts.

    We've got veterans dying in the VA hospitals not because they were terminal or fatally injured. No, they're dying because the bureaucracy put them on waiting lists, then doctored the records. We've got citizens illegally targeted by the IRS and a lapdog media that actually laps up the excuse that 10 days after the emails were subpoenaed the hard drives of just the people involved "crashed," and then were "recycled."

    We've got a president who turned Iraq into a disaster in just the last three years; who side-steps Congress continually, the most recent time to illegally release five terrorists back to the battlefield; who sent out messages for illegal immigrants to flood out border with children to bypass immigration laws; and who refuses to enforce immigration laws.

    If you aren't extremely pissed off at the state of this country, you are either blind or willfully ignorant.

    But according to OOP, bringing up any of this makes the one bringing it up the problem.
     
  2. BTExpress

    BTExpress Well-Known Member

    Your chart shows the "civilian participation rate", which is a PERCENTAGE of civilians employed. You somehow saw the drop from 65.7 to 62.8 and figured, "Aha! 3 million fewer people are working!"

    Not even fucking close. Housewives and students and retired people and military personnel --- and a few unemployed people --- make up the 35 percent of civilians not in the workforce. Baby boomers are retiring en masse these days, so the PERCENTAGE of civilians working is dropping and will be for several years (hence the Social Security problem looming).

    17 percent of Baby Boomers are retired now, up from 10 percent in 2010.

    There are more than 150 million people employed in this country --- 155.6 million, to be somewhat exact.

    That's 1.4 million MORE than were employed in January 2009.

    http://www.dlt.ri.gov/lmi/laus/us/usadj.htm

    Tony, you're a smart guy. You're better than this.
     
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