CBO: Obama To Be First President Since WWII To Never Preside Over Full Employment

[BlackFlag10]

See the full article at Cameron Harris: CBO: Obama To Be First President Since WWII To Never Preside Over Full Employment

The Congressional Budget Office is now projecting that the U.S. economy will never achieve full employment during the eight years Barack Obama serves as president.

If this holds, that would make Barack Obama the only president since World War II who never presided over a year in which the U.S. economy offered full employment to the American people.

The CBO's definition of "full employment" is when the national unemployment rate is at or below what is called the "natural unemployment rate." The natural unemployment rate is the rate of unemployment that is caused by all sources except fluctuations in aggregate demand.


SEE THE FULL ARTICLE AT Cameron Harris: CBO: Obama To Be First President Since WWII To Never Preside Over Full Employment

 

[bitterlyclingin]

Whats the big deal? You've got your food stamps and your EBT card. You can go get lap dances and some Johnny Walker with your EBT card. You couldn't do that if you were working. Well, unless you were a Chrysler worker.
Hey, under Comrade Barack, you've got your Obamaphone and a heck of a lot more time to amuse yourself than you ever did under George W Bush's 4.6, or 5.0 per cent unemployment rate.
Life is good under Comrade Barack! Whatchyall complainin about?

 

[Freewill]

"WHAT DIFFERENCE DOES IT MAKE!!!!!!!" (Hillary Clinton in a psychotic rant during congressional hearing)

 

[BlackFlag10]

Whats the big deal? You've got your food stamps and your EBT card. You can go get lap dances and some Johnny Walker with your EBT card. You couldn't do that if you were working. Well, unless you were a Chrysler worker.
Hey, under Comrade Barack, you've got your Obamaphone and a heck of a lot more time to amuse yourself than you ever did under George W Bush's 4.6, or 5.0 per cent unemployment rate.
Life is good under Comrade Barack! Whatchyall complainin about?

"Bread and circuses"

 

[JakeStarkey]

Obama can thank the 1994 to 2006 GOP with Clinton and Bush's Big Presidential Adventures.

 

[Freewill]

Obama can thank the 1994 to 2006 GOP with Clinton and Bush's Big Presidential Adventures.

Been 6 years, time to give it up fakey

 

[bodecea]

Since when have we ever had Full Employment? When?

 

[Antares]

Bammy won't even get close, nor does he care to.

 

[Freewill]

Full employment - Wikipedia, the free encyclopedia

Full employment, in macroeconomics, is the level of employment rates when there is no cyclical unemployment.[1] It is defined by the majority of mainstream economists as being an acceptable level of natural unemployment above 0%, the discrepancy from 0% being due to non-cyclical types of unemployment. Unemployment above 0% is advocated as necessary to control inflation, which has brought about the concept of the Non-Accelerating Inflation Rate of Unemployment (NAIRU); the majority of mainstream economists mean NAIRU when speaking of "full" employment.

Full employment in microeconomics is when the economy is employing all of its available resources. This simply means that the capital goods and capital resources are at their highest and most efficient within the economy.

 

[francoHFW]

Thank you, GOP and silly dupes, for the the Booosh Great World Recession. UE has come down 2.5% since the stimulus turned the meltdown around in October, 2009 (despite GOP propaganda, for dupes ONLY). Despite 3 1/2 of mindless obstruction. ONE Jobs bill, chumps? And NOT propaganda bills attacking worker and environmental protections, DUH.

 

[JakeStarkey]

Been six years and we are STILL suffering from those neo-con and social traditionalist assholes' megalomania that nearly destroyed our country.

Obama should have done much better than so far, but it is what it is.

We lost in 2012 because (1) our reactionaries were screaming and hating and scaring the rest of America so badly they voted against Romney, and (2) the rest of America still had not forgotten the neo-con GOP debacle.

That is how bad the GOP screwed it up.

 

[JakeStarkey]

Bammy won't even get close, nor does he care to.

Go worship in front of your Hitler poster on the wall and leave the adults alone.

 

[pinqy]

Since when have we ever had Full Employment? When?

There are 3 basic kinds of Unemployment:

1. Frictional Unemployment: results from the lag between starting to look for a job and actually starting work. There will always be some of this.
2. Structural Unemployment: The mismatch between supply and demand of specific skills. For example if there are 50 plumbers and 50 lawyers looking to work and there are 55 available plumbing jobs and 45 available lawyer jobs, then even though there's a perfect match between number of workers and number of jobs, there will still be 5 lawyers who can't work (and 5 unfilled plumber jobs) giving 5% unemployment.
3. Cyclical Unemployment: Unemployment resulting from too few jobs for too many workers due to economic conditions.

The Natural Rate of Unemployment (Full Employment) is when the only unemployment is Frictional and Structrual. In other words when there is an available job for everyone looking for one, and the only reason anyone doesn't have one is job search lag or mismatch of skills.

 

[velvtacheeze]

Well, no one said coming back from the Bush Recession would be easy and quick. Quick & easy predictions are for Iraq War cheerleaders, and other conservative knaves and buffoons.

The stimulus helped a lot of course. It was too small, and too loaded up with tax gimmick giveaways. But at least we didn't try what the UK did with austerity, which has been a fiasco and a flop. The GOP would have preferred we've done what the UK did, and the UK has had two recessions. Just like with the Iraq War, the GOP's predictions of quick & easy success would lead to failure, and they'd only have themselves to blame for it.

 

[editec]

What a steaming pile statistical road-apples.

 

[ShaklesOfBigGov]

Been six years and we are STILL suffering from those neo-con and social traditionalist assholes' megalomania that nearly destroyed our country.

Obama should have done much better than so far, but it is what it is.

We lost in 2012 because (1) our reactionaries were screaming and hating and scaring the rest of America so badly they voted against Romney, and (2) the rest of America still had not forgotten the neo-con GOP debacle.

That is how bad the GOP screwed it up.

If Nancy Pelosi and Harry Reed didn't waste all those months trying to push Obamacare, they might have found themselves in a better position to talk about job growth. They made their bed and chose their priority, which is their ideology dream list over the needs of the American people. Had they been serious about putting Americans back to work, instead of growing government, Nancy Pelosi might still have her job. Didn't take long for the Republicans under Clinton to turn this economy around. Maybe Obama should have been taking notes instead of roaming the country? Of course throw in Nancy Pelosi as speaker, add enforcement of (CRA) Community Reinvestment Act on banks, liberal democrats blocking any oversight investigation into Fannie Mae and Freddie Mac financial woes, and the whole economy goes to pot. As the left often forgets who has been in control of Congress back in 2006.

 

[Antares]

LOL....I know you kneel before the Bamster and swallow everything he tells you...but that just means you aren't very bright, not that Bammy wants to "fix" anything.

Bammy won't even get close, nor does he care to.

Go worship in front of your Hitler poster on the wall and leave the adults alone.

 

[Antares]

It takes mental and ethical gymnastics to even believe a word that comes from this WH.

These Progressives are quite desperate for any good news what so ever, so much so they just make shit up and proclaim "victory".

What a steaming pile statistical road-apples.

 

[ba1614]

lol no it's not obummers fault, nothing is, boooooosssssshhhhh did it!!

 

[rightwinger]

I blame Bush for creating the worst recession since WWII

Look......Republican fuck-ups don't fix easy

Look at the Great Depression