Sad State of Affairs: 16% of Kids in NY are Neither Working Nor Going to School

December 3, 2012 at 8:55 am (College, Dropout, Economy, Jobs, New York, President Obama, School, Unemployment, Youth)

And yet the youth vote nationwide helped propel the man whose economic policies have extended such trying times to another four years in office.

Via the Associated Press:

Sixteen percent of teens and young adults in New York are neither in school nor the workforce, part of a national problem that could lead to “dire consequences” for the younger generation’s financial stability, according to a new report.

The latest Kids Count report released Monday by the Annie E. Casey Foundation said high school dropouts are having a harder time landing traditional entry-level jobs in retail and fast-food restaurants due to competition from older candidates with more experience. Front-line service providers add that the recent recession has added to the problem.

“You’re competing with people that are in the workforce now that have diplomas,” said Jeff Nixon, youth services manager for the Buffalo Employment and Training Center. “You’ve got people with college degrees that are competing for some of these lower-wage jobs. And obviously for an employer, if they have a choice between somebody with a college degree and a kid that’s a dropout, that’s a no-brainer.”

Nationally, there are 6.5 million youth 16 to 24 years old who are neither in the workforce nor in school — about 17 percent of that age group, according to the report. New York accounts for 406,000 of those young people, according to the foundation.

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Obama Administration Says Small Businesses Don’t Complain About Obamacare – Let’s Refresh Their Memory

November 30, 2012 at 5:55 pm (Economy, Health Care Reform, Jobs, Karen Mills, Obamacare, Small Business)

It’s a headline that anybody paying close attention to the health care reform debate would have thought had likely been ripped from The Onion.

Instead, it could be found at the Weekly Standard:

Obama’s Small Business Chief Has Not Heard One Case of Obamacare Hurting Small Business

Alas, it is not a satire; it is true.

Indeed, Karen Mills, Administrator of the Small Business Administration (SBA), claims that throughout her travels across our great nation, she has never heard small businesses claim that they may have to slash employee hours, may lose their best employees, and may be run out of business altogether.

On a recent airing of MSNBC’s Morning Joe, the following exchange occurred:

“You know, I travel all around the country, every week I go to a different part of the country. I’m with small businesses. And I’m not hearing that,” Mills said in response to a question about how she would explain employers cutting work hours for employees because of Obamacare regulations. 
“You’ve never heard that?” host Joe Scarborough responded. “You need to talk to your staff and tell them to get you out of the bubble, because we are hearing that all the time.”

Scarborough offered Mills two additional chances to clarify, but she would not answer him.

She had never heard this.

One can only infer that Mills has either achieved new levels of intellectual dishonesty – an incredible feat coming from a member of the Obama administration – or she truly cannot remember one such instance.
With that, we’d like to offer Mills and the entire administration a public service refresher course on the matter.

We begin with the National Federation of Independent Business (NFIB), an organization that succinctly claims the health insurance mandate “will almost certainly be detrimental to employers and employees alike”.  The NFIB represents over 350,000 small business owners, none of whom Mills has apparently spoken with.
The Director of Federal Public Policy at NFIB explains that Obamacare is forcing business owners to make additional and unnecessary decisions in an already crippling economy.

“Employers will have difficult decisions to make regarding current and future employees as it pertains to PPACA,” Amanda Austin claims.

“With the new healthcare law requiring businesses with 50 or more full-time workers to offer coverage or be fined, employers must plan and rethink their workforce now more than ever.”

FreedomWorks compiled a small list of businesses that had already made those tough decisions in the event President Obama was re-elected – to the tune of thousands of layoffs.

But we also delved into several businesses that were slashing their employee’s hours in an effort to remain compliant with the plan’s requirements for full-time status – something Mills also claims she has never heard.

According to the New American, Obamacare “requires businesses with 50 or more full-time employees — with ‘full time’ defined as working at least 30 hours per week — to offer ‘affordable’ health insurance to those employees.”

The result?  Businesses are trying to drop below the 50 full-time employee level by either eliminating jobs, or eliminating hours.  In other words, the whole of Obamacare is a tax-happy prescription for small business disaster.

Additionally, the burdens being presented by Obamacare have contributed to record levels of uncertainty amongst small businesses owners (as demonstrated by the Optimism Index) not seen since the darkest days of the Carter administration.

But again, Mills hasn’t heard any of that.

With members of the Obama administration clearly being tone deaf when it comes to the concerns surrounding Obamacare, readers need to find other outlets for voicing their opinions.

What can you do?  Joshua Withrow has been keeping tabs on the states that have refused to implement health care exchanges under Obamacare – possibly the last resort in stopping the job killing bill.  Taking action against the implementation of state-run health exchanges will strike a critical blow against the heart of Obamacare.

So, are you willing to stand up to Obamacare?  Will you Take Action?

In short, are you willing to make yourself heard, or will you allow administration officials like Karen Mills to continue ignoring your voice?

Cross-posted at FreedomWorks

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Times Economist: Fair Share For the Rich is a 91% Tax Rate

November 19, 2012 at 2:00 pm (91%, Corporate Tax, Economy, Fair Share, Jobs, New York Times, Paul Krugman, Rich, Tax the Rich, Taxes)

How can liberalism’s favorite economist know so little about the topic he is known for?  New York Times economist, Paul Krugman had this to say in today’s op-ed regarding the Twinkie situation…

Consider the question of tax rates on the wealthy. The modern American right, and much of the alleged center, is obsessed with the notion that low tax rates at the top are essential to growth. Remember that Erskine Bowles and Alan Simpson, charged with producing a plan to curb deficits, nonetheless somehow ended up listing “lower tax rates” as a “guiding principle.”

Yet in the 1950s incomes in the top bracket faced a marginal tax rate of 91, that’s right, 91 percent, while taxes on corporate profits were twice as large, relative to national income, as in recent years. The best estimates suggest that circa 1960 the top 0.01 percent of Americans paid an effective federal tax rate of more than 70 percent, twice what they pay today...

… Along the way, however, we’ve forgotten something important — namely, that economic justice and economic growth aren’t incompatible. America in the 1950s made the rich pay their fair share; it gave workers the power to bargain for decent wages and benefits; yet contrary to right-wing propaganda then and now, it prospered. And we can do that again.

Yes, because business will certainly prosper with an added burden of a 91% tax rate on the wealthy, and a corporate rate double what it is today.  It will surely create a scenario where wealthy business owners and small business owners alike will announce thousand upon thousands of job openings.

It’s no wonder Krugman is heralded as an economic hero in liberal circles.  Reality however, offers a different vantage point.

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Businessman Responds to Obama’s Re-Election By Reading Prayer, Laying Off Employees

November 9, 2012 at 4:43 pm (Coal, Economy, Jobs, Layoffs, Murray Energy, Obamacare, Ohio, President Obama, Robert E. Murray)

Sad… but you were warned Ohio.

Via the Washington Post:

For the chairman and chief executive of Murray Energy, an Ohio-based coal company, the reelection of President Obama was no cause for celebration. It was a time for prayer – and layoffs.

Robert E. Murray read a prayer to a group of company staff members on the day after the election, lamenting the direction of the country and asking: “Lord, please forgive me and anyone with me in Murray Energy Corp. for the decisions that we are now forced to make to preserve the very existence of any of the enterprises that you have helped us build.”

On Wednesday, Murray also laid off 54 people at American Coal, one of his subsidiary companies, and 102 at Utah American Energy, blaming a “war on coal” by the administration of President Barack Obama.”

Sadly, there has been a major wave of layoffs in the short time since the President was re-elected to another four years of destroying the economy.  We covered several of them that will come at the hands of Obamacare here at FreedomWorks.  The Blaze has even more listed.

More specifically in line with this post however, we also warned voters in states that rely heavily on the coal industry prior to the election.  Here’s what we wrote:

Obama’s EPA Set to Crush Coal Country 

Lurking quietly in the shadows, behind a wall of political rhetoric and campaign season hype, is a post-election surprise that could ring the death knell for the coal industry, killing massive amounts of jobs in states such as Ohio, Virginia, and Pennsylvania.  

Reports are beginning to surface that the Obama Environmental Protection Agency (EPA) is set to implement a slew of anti-coal regulations after the election, which will result in the elimination of nearly 900,000 jobs annually.

All of this of course has been carefully calculated for political reasons.  

Do the American people, and even more so, the voters in coal dependent states such as Ohio, Virginia, and Pennsylvania, recognize that they deserve more from a President?

Tomorrow will tell.

The next day told alright… and immediately the coal industry in Ohio is feeling the effects.  America apparently didn’t want more from a President.

And now real lives, real jobs, and real people are paying the price.

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Bill Clinton Sides With Romney – Obama Hasn’t Fixed the Economy

October 18, 2012 at 1:38 pm (Bill Clinton, Economy, Fixed, Mitt Romney, President Obama)

Payback for throwing Hillary under the bus?

At a campaign event in Ohio, Bill Clinton concurs with a main argument of Mitt Romney’s, stating that it is true that the economy is not fixed under Obama.

“Governor Romney’s argument is ‘we’re not fixed, so fire him and put me in.’ It is true, we’re not fixed. When President Obama looked into the eyes of that man who said in the debate, ‘I had so much hope four years ago and I don’t now,’ I thought he was going to cry because he knows that it’s not fixed.”

Watch…

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Michelle Obama: We’re in the Midst of a Huge Recovery

October 15, 2012 at 2:50 pm (2012 Election, Economy, First Lady, huge Recovery, Jobs, Michelle Obama, Recovery, Unemployment)

If recovery means placing more people on food stamps than at any other time in our history, or seeing record numbers of people dropping completely out of the work force, then yes, we are in the midst of a huge recovery.

Via CNS News:

First Lady Michelle Obama said in a radio interview on Friday that the United States is in the “midst of a huge recovery” because of what “this president has done.”

Pablo Sato, co-host of Pablo & Free on WPGC 95.5, a Washington, D.C.-area hip-hop radio station, asked the first lady:  “Mrs. Obama, you know what, in your words, tell us what you think the state of the union is in right now?”

Mrs. Obama said, “I mean, we are seeing right now that we are in the midst of a huge recovery. Right?  Because of what this president has done.”

Median family income – significantly lower.

Gas prices – significantly higher.

National debt- $6 trillion greater.

Real unemployment – nearly doubled.

Food stamp spending – also nearly doubled.

Welcome to the huge recovery, America.

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Wendy Long: Marcellus & Utica Shale Reserves Will Provide Jobs for New York

October 10, 2012 at 7:10 am (America Innovates Act, Binghamton, Economy, Jobs, Kirsten Gillibrand, Marcellus Shale, New York, Sikorsky, Utica Shale, Welch Allyn, Wendy Long)

Wendy Long calls on Sen. Gillibrand to support Marcellus & Utica shale drilling, after again touting a bogus jobs bill in Binghamton on Monday.

In the wake of a new study by the U.S. Geological Survey that concludes the availability of 38 trillion cubic feet of natural gas in the Utica Shale deposit, U.S. Senate candidate Wendy Long repeated her call for Sen. Kirsten Gillibrand to make clear her support for the development of hydraulic fracturing in not only the Marcellus shale deposits, but also the Utica shale deposits in New York.

“From Welch Allyn in Skaneateles, to Sikorsky in Big Flats to GM in Honeoye Falls, New York is losing manufacturing jobs and as other states more forward with not only the Marcellus, but also Utica shale drilling, New York sits idle on the issue, because of the celebrity left wing opponents that Sen. Gillibrand is afraid to offend,” said Long.

The Marcellus is one of the richest natural gas reserves in the world, and the Utica Shale has even more potential.  Neighbors to New York, including Pennsylvania have already successfully drilled the Marcellus shale for years, have drilled over 100 Utica shale wells currently, and have 452 permits to drill in the Utica deposit moving forward.

“New York needs to get back to work; shale drilling can make that happen.  The lack of Marcellus drilling, but also Utica shale drilling has not only highlighted New York’s ability to fall behind other states, but continues to deprive jobs for New Yorkers.  As Sen. Gillibrand parades around New York talking about phony jobs bills she ignores one of the best ways to make that happen,” continued Long.

Just yesterday, Senator Gillibrand was in Binghamton and instead of talking about a real job creator, shale gas, she was touting the “America Innovates Act”; another bill with government picking winners and losers with high-tech companies.  The “America Innovates Act” (S.2369) was co-sponsored by Sen. Gillibrand, and like her other phony job bills, was not voted on, and referred to a committee.

“Sen. Gillibrand simply doesn’t get it; big government cannot create jobs, only the private sector can.  Instead of touting phony jobs bills and falsely giving New Yorkers hope for new jobs, as they lose their current ones, Sen. Gillibrand should explain to New York why she refuses to support a technology that has put other states to work, and could put New Yorkers to work as well,” concluded Long.

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Tax Report: New York Ranks Dead Last For Business

October 9, 2012 at 4:22 pm (Andrew Cuomo, Business, Business-Friendly, Economy, Governor Cuomo, New York, NY Works, Open For Business, Tax, Tom DiNapoli)

While the Cuomo administration has experienced what some would call an historic term in office, one aspect contributing to that description has been the Governor’s insistence that New York is open for business, promoting a new business-friendly atmosphere in the Empire state.

Just a few months ago, the governor had this to say about conducting business in New York:

“The focus of the administration has always been and will continue to be making New York work to help create jobs and grow businesses in every region of the state.  In the spirit of entrepreneurial government and through our New York Works initiatives, we have positioned the state as a partner to the private sector to encourage billions of dollars of new investment in nanotechnology and other growth industries.”

It was less than a year ago that Cuomo launched a new marketing initiative called, “New York Open For Business”, which according to a press release, had the following aim:

In recent years, businesses have left the state in record numbers and job losses have devastated local communities, giving New York the image of having one of the worst business climates in the nation. The goal of the “New York Open for Business” initiative is to promote the many assets of investing in New York so the state can regain its reputation as a business-friendly location.

Sad news to report today however, indicating that it doesn’t matter if you open your doors to business, if nobody wants to go inside and buy anything.

Via Capitol Confidential:

This is interesting in light of today’s scheduled events, which include an update on Wall Street’s contribution to the state economy by Comptroller Tom DiNapoli and a NY Works meeting which is part of a Cuomo initiative to rebuild the state’s economy.

The Tax Foundation which, granted, looks askance at taxes, ranks New York dead last in terms of the business tax climate. They cite not just the income taxes but the state’s property taxes, unemployment taxes (overly complex and saddled with surcharges, they say) and overall complexity.

Here’s what they said:

Despite moderate corporate taxes, New York scores at the bottom this year by having the worst individual income tax, the sixth-worst unemployment insurance taxes, and the sixth-worst property taxes. The states in the bottom 10 suffer from the same afflictions: complex, non-neutral taxes with comparatively high rates.

Read the full report here.

Here is how the rest of the United States stacks up.

This of course, comes on the heels of a summertime report in which the Empire state was ranked dead last in business friendliness, and saw rankings drop in several other categories such as Quality of Life, Economy, Access to Capital, Cost of Living, and Infrastructure & Transportation.

As it stands now, doing business in New York under the Cuomo administration is an historically bad idea.

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(Video) Wealth Manager on Jobs Report: "Not a Chance in the World These Numbers Are Accurate"

October 5, 2012 at 3:37 pm (2012 Election, Economy, Ed Butowsky, Jobs, Mitt Romney, Rick Santelli)

Ed Butowsky, an internationally recognized wealth manager was on Fox this morning urging somebody to investigate exactly what happened with this month’s jobs numbers.

Butowsky said several times that the numbers didn’t add up, concluding with a statement that he requested be put on the record – there’s “not a chance in the world these numbers are accurate”.

Of course, her’s not the only one calling into question the startling rise of people reporting that they had found work – 873,000.  Experts on both sides of the aisle have described the report variously as “implausible”, “an anomaly”, or a “statistical fluke”.

But the unemployment rate itself is based on a separate “household survey,” which showed a whopping 873,000 new jobs in September. 

“This must be an anomaly,” former Congressional Budget Office director Doug Holtz-Eakin said in a snap analysis of the numbers. “It is out of line with any of the other data..” 

Holtz-Eakin noted the household survey is smaller, suggesting it is not as reliable. He called estimate of 873,000 new jobs “implausible.” 

He said the report was otherwise “solid,” but reflected “the economy is merely moving sideways.” 

Liberal economist Dean Baker, with the Center for Economic and Policy Research, called the September rate drop “almost certainly a statistical fluke.”

Zero Hedge, who I highly recommend reading any time these employment reports come out, called other aspects of the report “perplexing”, such as this chart which shows employment of workers in the 20-24 year old range.  Something sticks out:
Hedge writes:

Cutting to the chase: the September surge in Seasonally Adjusted jobs given to 20-24 year old is the biggest in decades. This is on top of the only positive NSA increase in 20-24 year old jobs in history.

How does one explain this stunning discovery?

Meanwhile, Mitt Romney had this to say about the supposed ‘recovery’.

“This is not what a real recovery looks like. We created fewer jobs in September than in August, and fewer jobs in August than in July, and we’ve lost over 600,000 manufacturing jobs since President Obama took office,” Romney said in a statement. “If not for all the people who have simply dropped out of the labor force, the real unemployment rate would be closer to 11 percent.” 

Anyone who calls this unbelievable anomaly into question will no doubt be called a conspiracy theorist.  But the timing of a jobs report that is as believable as the land of lollipops and unicorns is certainly suspect.  Others, like Rick Santelli predicted that the administration would somehow get the numbers below the magical 8% line before the election however.

Rick Santelli, the man who helped launch the Tea Party with his impassioned comments from the trading floor in 2009, sees the hand of politics at work in today’s announcement that the unemployment rate has dipped below 8%.

Speaking on CNBC’s Squawk Box this morning just minutes after the number was announced, Santelli said: “I told you they’d get it under 8%–they did!”

Watch the video…

What do you think?

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Biden Admits "Yes We Do" Want to Raise Taxes by a Trillion Dollars

October 4, 2012 at 4:26 pm (2012 Election, Business, Economy, Jobs, Joe Biden, Tax Hike, Taxes, Trillion Dollar)

Anybody else looking forward to the vice-presidential debates as much as I am?

Biden is simply the gift that keeps on giving…

I’m sure businesses will be chomping at the bit to start hiring knowing that a trillion dollar tax hike is in the works.

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