Wednesday, October 23, 2013

Economy

Since Obama took office, the press has tried hard to hide bad economic news and project only positive economic news with every monthly jobs report. But this article presents bad economic news during the middle of the month, which I don't ever remember happening. It also calls on the Fed to print more money. No shocker here. Wait a minute. This report didn't come out at the beginning of the month because of the shutdown. I get it now.
"While the Federal Reserve has been trying to promote growth, the rest of Washington has largely been working in the opposite direction, analysts said, with Congress creating drags on the economy through resumption of a payroll tax that began in January, the across-the-board budget cuts known as sequestration that began in March, and then the partial government shutdown and debt ceiling crisis in October. The result has been to accelerate a longer-running trend of a shrinking federal work force; in September, the federal government had the lowest number of civilian employees on its payrolls since 1966. "
The policy claims are a joke, but the employment numbers are no laughing matter.

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