Archive for September 3rd, 2012

Labor Day isn’t really celebrated when 24 million Americans are unemployed. To the O-bots this is the result of those 4 million jobs Obama claims to have ‘saved or created.’ He saved and created so many that we know have less employed Americans than the day he took office and a 30-year low in the labor force participation rate.

Labor Force Participation when Obama took office: 65.7

Labor Force Participation after Obama took office: 63.7

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Racial pandering to help Obama’s image.

CHARLOTTE, N.C. –  College students from across North Carolina will arrive in Charlotte by the busload. Same with members of predominantly black churches in neighboring South Carolina.

Their goal: help fill a 74,000-seat outdoor stadium to capacity when President Obama accepts the Democratic nomination Thursday night.

Anything short of a full house on the final night of the Democratic Party’s national convention will be instant fodder for Republicans eager to use empty seats as symbols of waning voter enthusiasm for Obama.

Democrats have been fretting for months over whether the president can draw a capacity crowd at Bank of America Stadium. Polls show voter enthusiasm is down, as are Obama’s crowds for his battleground state campaign rallies.

Obama advisers insist the stadium will be filled when Obama delivers his speech. Vice President Joe Biden also will speak Thursday night, along with Massachusetts Sen. John Kerry, who will vouch for Obama’s national security credentials.

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If we take Obama’s rhetoric, he’s screwed.

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Yes, Obama is part of the subprime scheme. The entire Democrat Party is heavily involved. Their liberal feel-good policies are the cause of the housing crisis.  Obama’s campaign co-chair is involved.  Attorney General Eric Holder and a host of other DOJ officials are tied to the mortgage scheme and this is why there have been ZERO bankers brought up on charges. Obama, as an attorney, sued banks in Chicago and forced them to give subprime loans to minorities (racial predatory loans) who weren’t qualified and didn’t have the income to afford these loans. Out of 186 clients Obama “helped” only about 19 still own their homes.

From DC:

President Barack Obama was a pioneering contributor to the national subprime real estate bubble, and roughly half of the 186 African-American clients in his landmark 1995 mortgage discrimination lawsuit against Citibank have since gone bankrupt or received foreclosure notices.

As few as 19 of those 186 clients still own homes with clean credit ratings, following a decade in which Obama and other progressives pushed banks to provide mortgages to poor African Americans.

The startling failure rate among Obama’s private sector clients was discovered during The Daily Caller’s review of previously unpublished court information from the lawsuit that a young Obama helmed as the lead plaintiff’s attorney. [RELATED: Learn about the 186 class action plaintiffs]

Since the mortgage bubble burst, some of his former clients are calling for a policy reversal.

“If you see some people don’t make enough money to afford the mortgage, why would you give them a loan?” asked Obama client John Buchanan. “There should be some type of regulation against giving people loans they can’t afford.”

Banks “were too eager to lend to many who didn’t qualify,” said Don Byas, another client who saw banks lurch from caution to bubble-inflating recklessness. [RELATED: Obama’s Citibank plaintiffs hit hard when housing bubble burst]

“I don’t care what race you are. … You need to keep financial wisdom [separate] from trying to help your people,” said Byas, an autoworker.

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Sound familiar? The man has no ideas just the same empty promises year after year and in each campaign speech.

From ABC News:

With President Obama taking his turn in the spotlight this week, the Republican Party is comparing him to his former self.

Today, the Republican National Committee launched a new website to host all its rapid-response retorts to proceedings at the Democratic National Convention in Charlotte, N.C., this week: ObamaIsn’tWorking.com.

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Low wage jobs that cost on average about $228, o55 per job. Paid for via Obama’s failed Recovery Act.

NEW YORK (CNNMoney) — Sure, the economy is adding jobs these days…but most of those positions pay pretty poorly.

Spin by CNN. We have a 30-year low labor force participation rate and unemployment only dropped due to Americans exiting the labor force.

Some 58% of the jobs created during the recovery have been low-wage positions, according to a new report by the National Employment Law Project. Only 22% have been mid-wage jobs and 20% higher-wage positions. These low-wage jobs pay $13.83 an hour or less.

“The recovery continues to be skewed toward low-wage jobs, reinforcing the rise in inequality and America’s deficit of good jobs,” said Annette Bernhardt, NELP’s policy co-director. “While there’s understandably a lot of focus on getting employment back to pre-recession levels, the quality of jobs is rapidly emerging as a second front in the struggling recovery.”

The explosion in low-wage job growth comes after the Great Recession hammered the mid-wage job sector. Some 60% of the jobs lost during the downturn were mid-wage, as opposed to 21% of low-wage and 19% of higher-wage positions.

The fastest growing low-wage jobs include retail salespeople, food prep workers, laborers and freight workers, waiters and waitresses, personal and home care aides, office clerks and customers representatives.

Employment in low-wage jobs has been expanding since the start of the century, rising 8.7% since the beginning of 2001. Mid-wage employment, meanwhile, dropped 7.3%. High-wage staffing rose by 6.6%.

“The economy has fewer good jobs now than it did at the start of the 21st century,” said Bernhardt.

The economy also has less jobs now than it did in Jan. of 2009, but the media can’t tell voters the truth. Obama has a  jobs deficit.

NELP looked at employment trends in 366 occupations between 2008 and 2012. Low-wage jobs had median hourly wages between $7.69 to $13.83, while people in mid-wage positions earned between $13.84 and $21.13. High-wage jobs had a median hourly wage of $21.14 to $54.55.

The NELP study backs up a separate report from the Department of Labor that showed more than half of displaced workers who lost their jobs during the recovery and found new ones were working for lower wages.

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H/T to The People’s Cube

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