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The CBO Sez: Obama’s Employment Situation Stinks September 28, 2014

Posted by geoff in News.
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The President keeps telling us that all economic indicators are better now that when he took office. That’s a pretty low bar to set – if things hadn’t improved, we’d still be at the bottom of the recession. But it’s not really even true, according to the CBO.

If you look at the economic output we are generating vs. the economic output we could be generating, you find that we’re nowhere close to the normal range.

OutputGap

And when the CBO analyzed what the employment situation could look like, vs. what it is, they concluded:

CBOEmploymentShortfall

President Obama, after nearly 6 years of watching the economy limp along, we’d like fewer self-congratulatory speeches and more results.

Comments»

1. MPH - September 29, 2014

“President Obama, after nearly 6 years of watching the economy limp along, we’d like fewer self-congratulatory speeches and more results.”

What makes you think that the results we’re seeing are NOT the results Obama wants?

2. geoff - September 29, 2014

I was never in the “Obama wants to crash the US” camp, but after watching his domestic and foreign policies over the past term-and-a-half, I’m starting to warm up to it.

3. Larwyn’s Linx: Obama: the CIA assured me they were JVs! | The World Tonight - September 30, 2014

[…] Black Unemployment At 13% Obama Urges Blacks To Vote Democrat: WZThe CBO Sez: Obama’s Employment Situation Stinks : BystandersFrom Paul Ryan to Marco Rubio, Republicans are for resources redistribution: […]

4. sobek - September 30, 2014

So hypothetically, if you were elected President in 2008, and you wanted to destroy the US economy, what would you have done? There’s a thought experiment for you.

5. geoff - October 2, 2014

Well, let’s see.

First you’d want to slow down investment in business, so you’d raise the capital gains tax and raise the tax on the top earners. (Done!)

Then you’d want to hamper business further by increasing regulations.

You can get a good multiplier effect on business if you scare them by threatening them with the unknown.

Then you’ll want to make sure that the increases in federal debt never slow down. You need to get that sucker up to where we’re paying more than 5% of GDP in interest payments.

To rationalize the massive deficit spending, you’re going to need to expand social services, even if it means importing indigents from around the world.

Finally, you’d want to weaken US influence abroad, which will hurt our trade deals, threaten the security of our overseas investments, and limit our access to critical raw materials.

6. Retired Geezer - October 2, 2014

Make the Rule of Law a joke.

7. sobek - October 2, 2014

Make sure to increase the price of energy unnecessarily.

8. geoff - October 2, 2014

I have to say, his persistence in trying to get higher rates of inflation is admirable. If not his goal.

When a stimulus and 4 rounds of quantitative easing don’t have an effect, then why not raise minimum wage to an absurdly high level?


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