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Name:
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MartiniMan
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Subject:
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Some reality from IBD on the CBO report
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Date:
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2/1/2012 11:43:37 AM
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"A new congressional report shows that joblessness is underestimated, while debt skyrockets. Thirty-six pages into the Congressional Budget Office's 'Budget and Economic Outlook: Fiscal Years 2012 to 2022,' released Tuesday, is the news that 'the unemployment rate in the fourth quarter of 2011 would have been about 1 1/4 percentage points higher than the actual rate of 8.7%' once the 'unusually large decline over so short a time' in labor force participation is factored out. This means that, contrary to the claims of a media rooting for Obama re-election, the real jobless rate is nearly 10% -- belying the notion of an Obama-led 'recovery.' ... Worse, as CNS News' Terry Jeffrey notes, the CBO forecasts a 30% jump in tax revenues between 2012 and 2014. ... In short, if current policies continue, 'hope' and 'change' -- at least in the form of a prosperous economy -- won't be coming any time soon. If that weren't bad enough, the CBO forecast another $1 trillion deficit this year and $4.7 trillion over the next four years, as the government speeds toward a fiscal abyss on a trip financed by the taxpayers' credit card. ... But as private-sector workers get stiffed, are their government counterparts feeling their pain? In a separate but not unrelated report, the CBO noted that federal employees' lavish pay and benefits put them far ahead of their private sector counterparts. Noncollege educated federal workers averaged '36% higher total compensation than similar private-sector employees,' the CBO said. Those with a bachelor's degree, meanwhile, averaged 15% higher. Overall, 'the federal government paid 16% more in total compensation' than the private sector. The dominant media may tell you a new day is dawning in Obama's America. In fact, our overfed government is partying, while those of us in the private sector pick up the tab for its excesses."
And reasonable people wonder why I loathe government and want it to be limited.......the world is upside down and the tail is wagging the dog. We have to get rid of the Teleprompter in Chief to get this ship turning in the right direction.
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