Banking

State and Central Banking: Killing and Fleecing The People Massively — Financing War — Videos

Posted on June 18, 2014. Filed under: American History, Banking, Blogroll, Communications, Constitution, Diasters, Economics, Education, Employment, Faith, Family, Federal Government, Federal Government Budget, Fiscal Policy, Foreign Policy, Freedom, Genocide, government, government spending, history, History of Economic Thought, Investments, Language, Law, liberty, Life, Links, Literacy, Macroeconomics, Microeconomics, Monetary Policy, Money, People, Philosophy, Rants, Raves, Regulations, Resources, Tax Policy, Taxes, Technology, Unemployment, Video, War, Wealth, Weapons, Welfare, Wisdom | Tags: , , , , , |

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Mises

War and the Fed | Lew Rockwell

Lew Rockwell explains how the Federal Reserve Enables War, Empire, and Destroys the Middle Class

Economics and Moral Courage | Llewellyn H. Rockwell, Jr.

The Misesian Vision | Llewellyn H. Rockwell, Jr.

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The Obama Jobs Recession Continues — Labor Participation Rate of 62.8% with 145.8 Million Employed in May 2014 vs. 66% Labor Participation Rate with 146.6 Million Employed in November 2007 — Videos

Posted on June 9, 2014. Filed under: Banking, Blogroll, Business, Communications, Data, Economics, Education, Employment, Federal Government Budget, Fiscal Policy, Illegal, Immigration, Inflation, Investments, IRS, Language, Law, Legal, Links, Monetary Policy, Money, Tax Policy, Taxes, Technology, Terrorism, Transportation, Unemployment, Unions, War, Wealth, Weather, Wisdom | Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , |

 

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The Pronk Pops Show Podcasts

Pronk Pops Show 274: June 6, 2014

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Story 1: The Obama Jobs Recession Continues — Labor Participation Rate of 62.8% with 145.8 Million Employed in May 2014 vs. 66% Labor Participation Rate with 146.6 Million Employed in November 2007 — Videos

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Judge Jeanine Smoking HOT ➡ Exposes Obama’s Veterans Affairs Scandal ➡ In Epic Jeanine Style!

June 6, 2014 – Business News – Financial News – Stock News –NYSE — Market News 2014

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Daily Market Update – 6 June 2014 – Alpari UK

Nightly Business Report — June 6, 2014

Nightly Business Report: Jobs report preview

Labor Secretary Dismisses Historical Drop in Labor Participation Rate

Labor Force Participation Rate

Labor participation rate is down to unprecedented levels

BLS Commissioner Groshen on drop in job participation rate- “It’s certainly not a sign of strength.”

Will The Unemployment Rate Stall

 

Employment Level

145,814,000

 

employment_level

 

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 136559(1) 136598 136701 137270 136630 136940 136531 136662 136893 137088 137322 137614
2001 137778 137612 137783 137299 137092 136873 137071 136241 136846 136392 136238 136047
2002 135701 136438 136177 136126 136539 136415 136413 136705 137302 137008 136521 136426
2003 137417(1) 137482 137434 137633 137544 137790 137474 137549 137609 137984 138424 138411
2004 138472(1) 138542 138453 138680 138852 139174 139556 139573 139487 139732 140231 140125
2005 140245(1) 140385 140654 141254 141609 141714 142026 142434 142401 142548 142499 142752
2006 143150(1) 143457 143741 143761 144089 144353 144202 144625 144815 145314 145534 145970
2007 146028(1) 146057 146320 145586 145903 146063 145905 145682 146244 145946 146595 146273
2008 146378(1) 146156 146086 146132 145908 145737 145532 145203 145076 144802 144100 143369
2009 142152(1) 141640 140707 140656 140248 140009 139901 139492 138818 138432 138659 138013
2010 138451(1) 138599 138752 139309 139247 139148 139179 139427 139393 139111 139030 139266
2011 139287(1) 139422 139655 139622 139653 139409 139524 139904 140154 140335 140747 140836
2012 141677(1) 141943 142079 141963 142257 142432 142272 142204 142947 143369 143233 143212
2013 143384(1) 143464 143393 143676 143919 144075 144285 144179 144270 143485 144443 144586
2014 145224(1) 145266 145742 145669 145814
1 : Data affected by changes in population controls.

Civilian Labor Force

155,613,000

Civilain Labor force

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 142267(1) 142456 142434 142751 142388 142591 142278 142514 142518 142622 142962 143248
2001 143800 143701 143924 143569 143318 143357 143654 143284 143989 144086 144240 144305
2002 143883 144653 144481 144725 144938 144808 144803 145009 145552 145314 145041 145066
2003 145937(1) 146100 146022 146474 146500 147056 146485 146445 146530 146716 147000 146729
2004 146842(1) 146709 146944 146850 147065 147460 147692 147564 147415 147793 148162 148059
2005 148029(1) 148364 148391 148926 149261 149238 149432 149779 149954 150001 150065 150030
2006 150214(1) 150641 150813 150881 151069 151354 151377 151716 151662 152041 152406 152732
2007 153144(1) 152983 153051 152435 152670 153041 153054 152749 153414 153183 153835 153918
2008 154063(1) 153653 153908 153769 154303 154313 154469 154641 154570 154876 154639 154655
2009 154210(1) 154538 154133 154509 154747 154716 154502 154307 153827 153784 153878 153111
2010 153404(1) 153720 153964 154642 154106 153631 153706 154087 153971 153631 154127 153639
2011 153198(1) 153280 153403 153566 153526 153379 153309 153724 154059 153940 154072 153927
2012 154328(1) 154826 154811 154565 154946 155134 154970 154669 155018 155507 155279 155485
2013 155699(1) 155511 155099 155359 155609 155822 155693 155435 155473 154625 155284 154937
2014 155460(1) 155724 156227 155421 155613
1 : Data affected by changes in population controls.

 

Labor Participation Rate

62.8%

Labor Participation Rate

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 67.3 67.3 67.3 67.3 67.1 67.1 66.9 66.9 66.9 66.8 66.9 67.0
2001 67.2 67.1 67.2 66.9 66.7 66.7 66.8 66.5 66.8 66.7 66.7 66.7
2002 66.5 66.8 66.6 66.7 66.7 66.6 66.5 66.6 66.7 66.6 66.4 66.3
2003 66.4 66.4 66.3 66.4 66.4 66.5 66.2 66.1 66.1 66.1 66.1 65.9
2004 66.1 66.0 66.0 65.9 66.0 66.1 66.1 66.0 65.8 65.9 66.0 65.9
2005 65.8 65.9 65.9 66.1 66.1 66.1 66.1 66.2 66.1 66.1 66.0 66.0
2006 66.0 66.1 66.2 66.1 66.1 66.2 66.1 66.2 66.1 66.2 66.3 66.4
2007 66.4 66.3 66.2 65.9 66.0 66.0 66.0 65.8 66.0 65.8 66.0 66.0
2008 66.2 66.0 66.1 65.9 66.1 66.1 66.1 66.1 66.0 66.0 65.9 65.8
2009 65.7 65.8 65.6 65.7 65.7 65.7 65.5 65.4 65.1 65.0 65.0 64.6
2010 64.8 64.9 64.9 65.2 64.9 64.6 64.6 64.7 64.6 64.4 64.6 64.3
2011 64.2 64.2 64.2 64.2 64.2 64.0 64.0 64.1 64.2 64.1 64.1 64.0
2012 63.7 63.9 63.8 63.7 63.8 63.8 63.7 63.5 63.6 63.7 63.6 63.6
2013 63.6 63.5 63.3 63.4 63.4 63.5 63.4 63.2 63.2 62.8 63.0 62.8
2014 63.0 63.0 63.2 62.8 62.8

Unemployment Level

9,799,000

unemployment level

 

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 5708 5858 5733 5481 5758 5651 5747 5853 5625 5534 5639 5634
2001 6023 6089 6141 6271 6226 6484 6583 7042 7142 7694 8003 8258
2002 8182 8215 8304 8599 8399 8393 8390 8304 8251 8307 8520 8640
2003 8520 8618 8588 8842 8957 9266 9011 8896 8921 8732 8576 8317
2004 8370 8167 8491 8170 8212 8286 8136 7990 7927 8061 7932 7934
2005 7784 7980 7737 7672 7651 7524 7406 7345 7553 7453 7566 7279
2006 7064 7184 7072 7120 6980 7001 7175 7091 6847 6727 6872 6762
2007 7116 6927 6731 6850 6766 6979 7149 7067 7170 7237 7240 7645
2008 7685 7497 7822 7637 8395 8575 8937 9438 9494 10074 10538 11286
2009 12058 12898 13426 13853 14499 14707 14601 14814 15009 15352 15219 15098
2010 14953 15121 15212 15333 14858 14483 14527 14660 14578 14520 15097 14373
2011 13910 13858 13748 13944 13873 13971 13785 13820 13905 13604 13326 13090
2012 12650 12883 12732 12603 12689 12702 12698 12464 12070 12138 12045 12273
2013 12315 12047 11706 11683 11690 11747 11408 11256 11203 11140 10841 10351
2014 10236 10459 10486 9753 9799

Unemployment Rate U-3

6.3%

unemployment rate U 3

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 4.0 4.1 4.0 3.8 4.0 4.0 4.0 4.1 3.9 3.9 3.9 3.9
2001 4.2 4.2 4.3 4.4 4.3 4.5 4.6 4.9 5.0 5.3 5.5 5.7
2002 5.7 5.7 5.7 5.9 5.8 5.8 5.8 5.7 5.7 5.7 5.9 6.0
2003 5.8 5.9 5.9 6.0 6.1 6.3 6.2 6.1 6.1 6.0 5.8 5.7
2004 5.7 5.6 5.8 5.6 5.6 5.6 5.5 5.4 5.4 5.5 5.4 5.4
2005 5.3 5.4 5.2 5.2 5.1 5.0 5.0 4.9 5.0 5.0 5.0 4.9
2006 4.7 4.8 4.7 4.7 4.6 4.6 4.7 4.7 4.5 4.4 4.5 4.4
2007 4.6 4.5 4.4 4.5 4.4 4.6 4.7 4.6 4.7 4.7 4.7 5.0
2008 5.0 4.9 5.1 5.0 5.4 5.6 5.8 6.1 6.1 6.5 6.8 7.3
2009 7.8 8.3 8.7 9.0 9.4 9.5 9.5 9.6 9.8 10.0 9.9 9.9
2010 9.7 9.8 9.9 9.9 9.6 9.4 9.5 9.5 9.5 9.5 9.8 9.4
2011 9.1 9.0 9.0 9.1 9.0 9.1 9.0 9.0 9.0 8.8 8.6 8.5
2012 8.2 8.3 8.2 8.2 8.2 8.2 8.2 8.1 7.8 7.8 7.8 7.9
2013 7.9 7.7 7.5 7.5 7.5 7.5 7.3 7.2 7.2 7.2 7.0 6.7
2014 6.6 6.7 6.7 6.3 6.3

Unemployment Rate U-6

12.2%

unemployment rate u 6

Employment Situation Summary

Transmission of material in this release is embargoed until                    USDL-14-0987
8:30 a.m. (EDT) Friday, June 6, 2014

Technical information: 
  Household data:     (202) 691-6378  •  cpsinfo@bls.gov  •  www.bls.gov/cps
  Establishment data: (202) 691-6555  •  cesinfo@bls.gov  •  www.bls.gov/ces

Media contact:        (202) 691-5902  •  PressOffice@bls.gov


                            THE EMPLOYMENT SITUATION -- MAY 2014


Total nonfarm payroll employment rose by 217,000 in May, and the unemployment rate was
unchanged at 6.3 percent, the U.S. Bureau of Labor Statistics reported today. Employment
increased in professional and business services, health care and social assistance, food
services and drinking places, and transportation and warehousing. 

Household Survey Data

The unemployment rate held at 6.3 percent in May, following a decline of 0.4 percentage
point in April. The number of unemployed persons was unchanged in May at 9.8 million.
Over the year, the unemployment rate and the number of unemployed persons declined by
1.2 percentage points and 1.9 million, respectively. (See table A-1.)

Among the major worker groups, the unemployment rates for adult men (5.9 percent),
adult women (5.7 percent), teenagers (19.2 percent), whites (5.4 percent), blacks
(11.5 percent), and Hispanics (7.7 percent) showed little or no change in May. The
jobless rate for Asians was 5.3 percent (not seasonally adjusted), little changed
from a year earlier. (See tables A-1, A-2, and A-3.)

Among the unemployed, the number of job losers and persons who completed temporary
jobs declined by 218,000 in May. The number of unemployed reentrants increased by
237,000 over the month, partially offsetting a large decrease in April. (Reentrants
are persons who previously worked but were not in the labor force prior to beginning
their current job search.) (See table A-11.)

The number of long-term unemployed (those jobless for 27 weeks or more) was essentially
unchanged at 3.4 million in May. These individuals accounted for 34.6 percent of the
unemployed. Over the past 12 months, the number of long-term unemployed has declined by
979,000. (See table A-12.)

The civilian labor force participation rate was unchanged in May, at 62.8 percent.
The participation rate has shown no clear trend since this past October but is down by 0.6
percentage point over the year. The employment-population ratio, at 58.9 percent, was
also unchanged in May and has changed little over the year. (See table A-1.)

The number of persons employed part time for economic reasons (sometimes referred to as
involuntary part-time workers), at 7.3 million, changed little in May. These individuals
were working part time because their hours had been cut back or because they were unable
to find a full-time job. (See table A-8.)

In May, 2.1 million persons were marginally attached to the labor force, essentially
unchanged from a year earlier. (The data are not seasonally adjusted.) These individuals
were not in the labor force, wanted and were available for work, and had looked for a
job sometime in the prior 12 months. They were not counted as unemployed because they
had not searched for work in the 4 weeks preceding the survey. (See table A-16.)

Among the marginally attached, there were 697,000 discouraged workers in May, little
different from a year earlier. (The data are not seasonally adjusted.) Discouraged
workers are persons not currently looking for work because they believe no jobs are
available for them. The remaining 1.4 million persons marginally attached to the labor
force in May had not searched for work for reasons such as school attendance or family
responsibilities. (See table A-16.)

Establishment Survey Data

Total nonfarm payroll employment increased by 217,000 in May, with gains in professional
and business services, health care and social assistance, food services and drinking
places, and transportation and warehousing. Over the prior 12 months, nonfarm payroll
employment growth had averaged 197,000 per month. (See table B-1.)

Professional and business services added 55,000 jobs in May, the same as its average
monthly job gain over the prior 12 months. In May, the industry added 7,000 jobs each in
computer systems design and related services and in management and technical consulting.
Employment in temporary help services continued to trend up (+14,000) and has grown by
224,000 over the past year.

In May, health care and social assistance added 55,000 jobs. The health care industry
added 34,000 jobs over the month, twice its average monthly gain for the prior 12 months.
Within health care, employment rose in May by 23,000 in ambulatory health care services
(which includes offices of physicians, outpatient care centers, and home health care
services) and by 7,000 in hospitals. Employment rose by 21,000 in social assistance,
compared with an average gain of 7,000 per month over the prior 12 months.

Within leisure and hospitality, employment in food services and drinking places continued
to grow, increasing by 32,000 in May and by 311,000 over the past year.

Transportation and warehousing employment rose by 16,000 in May. Over the prior 12
months, the industry had added an average of 9,000 jobs per month. In May, employment
growth occurred in support activities for transportation (+6,000) and couriers and
messengers (+4,000).

Manufacturing employment changed little over the month but has added 105,000 jobs over
the past year. Within the industry, durable goods added 17,000 jobs in May and has
accounted for the net job gain in manufacturing over the past 12 months.

Employment in other major industries, including mining and logging, construction,
wholesale trade, retail trade, information, financial activities, and government,
showed little change over the month.

The average workweek for all employees on private nonfarm payrolls was unchanged at 34.5
hours in May. The manufacturing workweek increased by 0.2 hour in May to 41.1 hours, and
factory overtime was unchanged at 3.5 hours. The average workweek for production and
nonsupervisory employees on private nonfarm payrolls was unchanged at 33.7 hours. (See
tables B-2 and B-7.)

In May, average hourly earnings for all employees on private nonfarm payrolls rose by
5 cents to $24.38. Over the past 12 months, average hourly earnings have risen by 2.1
percent. In May, average hourly earnings of private-sector production and nonsupervisory
employees increased by 3 cents to $20.54. (See tables B-3 and B-8.)

After revision, the change in total nonfarm employment for March remained +203,000, and the
change for April was revised from +288,000 to +282,000. With these revisions, employment
gains in March and April were 6,000 lower than previously reported.

_____________
The Employment Situation for June is scheduled to be released on Thursday, July 3, 2014,
at 8:30 a.m. (EDT).


  ________________________________________________________________________________________
 |                                                                                        |
 |                       Upcoming Changes to the Establishment Survey Data                |
 |                                                                                        |
 |Effective with the release of July 2014 data on August 1, 2014, the establishment survey|
 |will implement new sample units into production on a quarterly basis, replacing the     |
 |current practice of implementing new sample units annually. There is no change to the   |
 |establishment survey sample design. More information about the quarterly sample         |
 |implementation is available at www.bls.gov/ces/cesqsi.htm.                              |
 |________________________________________________________________________________________|



 

  • Access to historical data for the “A” tables of the Employment Situation Release
  • Access to historical data for the “B” tables of the Employment Situation Release
  • HTML version of the entire news release
  • Employment Situation Summary Table A. Household data, seasonally adjusted

    HOUSEHOLD DATA
    Summary table A. Household data, seasonally adjusted

    [Numbers in thousands]

    Category May
    2013
    Mar.
    2014
    Apr.
    2014
    May
    2014
    Change from:
    Apr.
    2014-
    May
    2014

    Employment status

    Civilian noninstitutional population

    245,363 247,258 247,439 247,622 183

    Civilian labor force

    155,609 156,227 155,421 155,613 192

    Participation rate

    63.4 63.2 62.8 62.8 0.0

    Employed

    143,919 145,742 145,669 145,814 145

    Employment-population ratio

    58.7 58.9 58.9 58.9 0.0

    Unemployed

    11,690 10,486 9,753 9,799 46

    Unemployment rate

    7.5 6.7 6.3 6.3 0.0

    Not in labor force

    89,754 91,030 92,018 92,009 -9

    Unemployment rates

    Total, 16 years and over

    7.5 6.7 6.3 6.3 0.0

    Adult men (20 years and over)

    7.2 6.2 5.9 5.9 0.0

    Adult women (20 years and over)

    6.5 6.2 5.7 5.7 0.0

    Teenagers (16 to 19 years)

    24.1 20.9 19.1 19.2 0.1

    White

    6.6 5.8 5.3 5.4 0.1

    Black or African American

    13.5 12.4 11.6 11.5 -0.1

    Asian (not seasonally adjusted)

    4.3 5.4 5.7 5.3 -

    Hispanic or Latino ethnicity

    9.1 7.9 7.3 7.7 0.4

    Total, 25 years and over

    6.1 5.4 5.2 5.2 0.0

    Less than a high school diploma

    11.0 9.6 8.9 9.1 0.2

    High school graduates, no college

    7.4 6.3 6.3 6.5 0.2

    Some college or associate degree

    6.5 6.1 5.7 5.5 -0.2

    Bachelor’s degree and higher

    3.8 3.4 3.3 3.2 -0.1

    Reason for unemployment

    Job losers and persons who completed temporary jobs

    6,094 5,489 5,236 5,018 -218

    Job leavers

    944 815 784 875 91

    Reentrants

    3,326 3,037 2,620 2,857 237

    New entrants

    1,257 1,169 1,043 1,062 19

    Duration of unemployment

    Less than 5 weeks

    2,704 2,461 2,447 2,559 112

    5 to 14 weeks

    2,642 2,581 2,359 2,390 31

    15 to 26 weeks

    1,934 1,677 1,533 1,441 -92

    27 weeks and over

    4,353 3,739 3,452 3,374 -78

    Employed persons at work part time

    Part time for economic reasons

    7,917 7,411 7,465 7,269 -196

    Slack work or business conditions

    4,837 4,512 4,555 4,453 -102

    Could only find part-time work

    2,697 2,731 2,669 2,537 -132

    Part time for noneconomic reasons

    18,957 19,216 18,886 19,040 154

    Persons not in the labor force (not seasonally adjusted)

    Marginally attached to the labor force

    2,164 2,168 2,160 2,130 -

    Discouraged workers

    780 698 783 697 -

    - Over-the-month changes are not displayed for not seasonally adjusted data.
    NOTE: Persons whose ethnicity is identified as Hispanic or Latino may be of any race. Detail for the seasonally adjusted data shown in this table will not necessarily add to totals because of the independent seasonal adjustment of the various series. Updated population controls are introduced annually with the release of January data.

 

 

ESTABLISHMENT DATA
Summary table B. Establishment data, seasonally adjusted

Category May
2013
Mar.
2014
Apr.
2014(p)
May
2014(p)

EMPLOYMENT BY SELECTED INDUSTRY
(Over-the-month change, in thousands)

Total nonfarm

199 203 282 217

Total private

222 200 270 216

Goods-producing

2 21 46 18

Mining and logging

4 4 8 2

Construction

5 13 34 6

Manufacturing

-7 4 4 10

Durable goods(1)

-2 14 6 17

Motor vehicles and parts

5.0 -0.5 0.3 5.0

Nondurable goods

-5 -10 -2 -7

Private service-providing(1)

220 179 224 198

Wholesale trade

7.7 7.8 16.2 9.9

Retail trade

34.7 28.9 43.1 12.5

Transportation and warehousing

-1.5 13.9 12.1 16.4

Information

-2 -1 1 -5

Financial activities

9 0 6 3

Professional and business services(1)

77 47 71 55

Temporary help services

23.3 22.1 16.0 14.3

Education and health services(1)

29 40 39 63

Health care and social assistance

18.9 34.9 28.5 54.9

Leisure and hospitality

53 31 24 39

Other services

12 9 13 4

Government

-23 3 12 1

WOMEN AND PRODUCTION AND NONSUPERVISORY EMPLOYEES(2)
AS A PERCENT OF ALL EMPLOYEES

Total nonfarm women employees

49.4 49.4 49.4 49.4

Total private women employees

48.0 48.0 48.0 48.0

Total private production and nonsupervisory employees

82.6 82.7 82.7 82.7

HOURS AND EARNINGS
ALL EMPLOYEES

Total private

Average weekly hours

34.5 34.5 34.5 34.5

Average hourly earnings

$23.89 $24.32 $24.33 $24.38

Average weekly earnings

$824.21 $839.04 $839.39 $841.11

Index of aggregate weekly hours (2007=100)(3)

98.5 100.1 100.4 100.6

Over-the-month percent change

0.5 0.7 0.3 0.2

Index of aggregate weekly payrolls (2007=100)(4)

112.3 116.2 116.5 117.0

Over-the-month percent change

0.6 0.9 0.3 0.4

HOURS AND EARNINGS
PRODUCTION AND NONSUPERVISORY EMPLOYEES

Total private

Average weekly hours

33.7 33.7 33.7 33.7

Average hourly earnings

$20.06 $20.48 $20.51 $20.54

Average weekly earnings

$676.02 $690.18 $691.19 $692.20

Index of aggregate weekly hours (2002=100)(3)

106.0 107.8 108.1 108.3

Over-the-month percent change

0.2 1.1 0.3 0.2

Index of aggregate weekly payrolls (2002=100)(4)

142.0 147.5 148.1 148.6

Over-the-month percent change

0.3 1.0 0.4 0.3

DIFFUSION INDEX(5)
(Over 1-month span)

Total private (264 industries)

61.6 59.7 65.9 62.7

Manufacturing (81 industries)

48.8 53.7 53.7 55.6

Footnotes
(1) Includes other industries, not shown separately.
(2) Data relate to production employees in mining and logging and manufacturing, construction employees in construction, and nonsupervisory employees in the service-providing industries.
(3) The indexes of aggregate weekly hours are calculated by dividing the current month’s estimates of aggregate hours by the corresponding annual average aggregate hours.
(4) The indexes of aggregate weekly payrolls are calculated by dividing the current month’s estimates of aggregate weekly payrolls by the corresponding annual average aggregate weekly payrolls.
(5) Figures are the percent of industries with employment increasing plus one-half of the industries with unchanged employment, where 50 percent indicates an equal balance between industries with increasing and decreasing employment.
(p) Preliminary

 

 

37.2%: Percentage Not in Labor Force Remains at 36-Year High

June 6, 2014 – 8:05 AM

By Ali Meyer

The percentage of American civilians 16 or older who do not have a job and are not actively seeking one remained at a 36-year high in May, according to the Bureau of Labor Statistics.

In December, April, and now May, the labor force participation rate has been 62.8 percent. That means that 37.2 percent were not participating in the labor force during those months.

Before December, the last time the labor force participation rate sunk as low as 62.8 percent was February 1978, when it was also 62.8 percent. At that time, Jimmy Carter was president.

In April, the number of those not in the labor force hit a record high of 92,018,000. In May, that number declined by 9,000 to 92,009,000. Yet, the participation rate remained the same from April to May at 62.8 percent.

The labor force, according to BLS, is that part of the civilian noninstitutional population that either has a job or has actively sought one in the last four weeks. The civilian noninstitutional population consists of people 16 or older, who are not on active duty in the military or in an institution such as a prison, nursing home, or mental hospital.

jobs

In May, according to BLS, the nation’s civilian noninstitutional population, consisting of all people 16 or older who were not in the military or an institution, hit 247,622,000. Of those, 155,613,000 participated in the labor force by either holding a job or actively seeking one.

The 155,613,000 who participated in the labor force equaled only 62.8 percent of the 247,622,000 civilian noninstitutional population, matching (along with the 62.8 percent rate in May) the lowest labor force participation rate in 36 years.

At no time during the presidencies of Ronald Reagan, George H.W. Bush, Bill Clinton or George W. Bush, did such a small percentage of the civilian non-institutional population either hold a job or at least actively seek one.

When President Barack Obama took office in January 2009, the labor force participation rate was 65.7 percent. By the beginning of 2013, the start of Obama’s second term, it had dropped to 63.6 percent. Since January 2014, when the participation rate was 63.0,it has continued to decline, hitting a 36-year low of 62.8 percent in May.

People in the civilian noninstitutional population who did not have a job and did not actively seek one in the last four weeks are considered “not in the labor force.” The number of Americans not in the labor force has climbed by 11,480,000 since Obama took office, rising from 80,529,000 in January 2009 to 92,009,000 in May 2014.

 

http://www.cnsnews.com/news/article/ali-meyer/372-percentage-not-labor-force-remains-36-year-high

 

Sessions: 7 Million Have Left Workforce Since Obama Took Office

 BY DANIEL HALPER

Senator Jeff Sessions has released a statement that says, “7 Million People Have Left The Workforce Since The President Took Office.” The statement is in response to today’s jobs numbers.

“Today’s jobs numbers are only enough to tread even with population growth, maintaining unemployment at 6.3 percent. When you include discouraged workers, the unemployment rate doubles to an alarming 12.2 percent. There are still 3.2 million fewer full-time employed persons than there were in 2007,” says Sessions.

“Since President Obama came into office in 2009, 7.2 million people have left the workforce entirely. One out of every six men aged 25–54 is not working. Employment in this group fell by 72,000 last month, while the number of employed women aged 25–54 fell by 37,000. Meanwhile, the workforce participation rate for women is at its lowest level in 23 years. Median household income is down almost $2,300 from what it was when the President took office. Real wages are lower than they were in 1999. Growth in the first quarter of this year was negative.

“These numbers are grim and make clear that this economy is nowhere close to performing at an acceptable level.”

 

http://www.weeklystandard.com/blogs/sessions-7-million-have-left-workforce-obama-took-office_794443.html

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The Federal Reserve’s Near Zero Interest Rate Policy Has Hurt Savers — Videos

Posted on April 26, 2014. Filed under: American History, Banking, Blogroll, Business, College, Communications, Economics, Education, Family, Federal Government, Federal Government Budget, Fiscal Policy, Freedom, government, government spending, history, IRS, Law, liberty, Links, Macroeconomics, media, Monetary Policy, Money, People, Philosophy, Photos, Politics, Press, Rants, Raves, Tax Policy, Taxes, Unemployment, Video, War, Wealth, Wisdom | Tags: , , , , , , , |

 

 

 

How the Fed is hurting seniors

Federal-Funds-Interest-Rate

fed-funds-rate-2000-2013

fed_funds_rate_qe_1_2_3

Corporate-Bond-Yield

1-Year-Treasury-Bill-Yield

6-Month-Treasury-Bill-Yield

JIM ROGERS When the FED stops PRINTING FIAT CURRENCY the COLLAPSE will be here. PREPARE NO

Fed to keep interest rates low

Peter Schiff: The Fed Won’t Stop The Monetary Heroin Until We Die Of An Overdose

Keiser Report, QE means banks treat savers like dirt (04July13)

Jeremy Stein: Policy Doesn’t Work as Well for Those Near the “Zero Lower Bound”

Why The Federal Reserve’s 0% Interest Rate Policy Hurts Economy & Savers

Rick Santelli: Who is Benefitted/Hurt from the Fed’s Easy Policy

What’s the Deal with Zero Interest Rate Policy? – Laissez Faire Today Exclusive

Ron Paul Hearing on the Fed’s Manipulation of Interest Rates — 9/21/12

Lew Rockwell explains how the Federal Reserve Enables War, Empire, and Destroys the Middle Class

Zero Interest Rate Policy (ZIRP) & Inflation

 

Opinion: The low-interest-rate policy does more harm than good

By Diana Furchtgott-Roth


Bloomberg

Seniors, wake up and call Janet Yellen. With an increase in interest rates next year, as Chair Yellen implied in her press conference on Wednesday, she can restore your savings accounts to relevance. The end for low rates might be in sight, and that is good news, despite the initial reaction from markets.

Chair Yellen continued the taper, and suggested that she would start to raise rates when the taper was over. The Fed has plenty of wiggle room, though, because it will keep current policies “until the outlook for the labor market has improved substantially in a context of price stability,” according to the Federal Open Market Committee statement . That is a fuzzy goal that should not give much hope to those who want a sounder system.

Back in the 1970s or 1980s or 1990s, you might have expected a 5% interest rate or higher on your savings to generate income for your golden years. Now, it is not even 1%.

Ten years ago, in 2004, the federal funds rate was about 1%. Then, it temporarily climbed to a plateau of about 5.25% between the summers of 2006 and 2007. However, from the end of 2007 to the beginning of 2009, the rate declined to practically zero and has remained there.

Income inequality is “the defining challenge of our time,” President Obama said last December, and a zero interest rate for savers contributes to inequality. Those with stock portfolios gain because asset prices are inflated as people look for higher returns. Seniors on fixed incomes have to get returns somehow, and junk bonds and riskier stocks are the answer for many.

Economists and politicians tend to believe in the greatest good for the greatest number. But the idea of a system in which the returns to frugal saving are zero with certainty, while the returns to investing money in risky high-yield stocks and bonds — a form of gambling — often pays off, is troubling, to say the least. It might pay for a senior to invest in riskier assets in the short run, but if interest rates rise to historical levels and the stock markets adjust down, such senior investors will suffer.

It is not only gambling that pays off, it is also borrowing. With mortgage rates at historic lows, people can take on a lot of debt.

So winners from low rates include those who want to borrow, and those who hold stocks and commodities. Losers include those who save and lend because they receive less in interest payments from their assets.

This situation disproportionately affects seniors. According to data from the Census Bureau, seniors ages 65 and over made an average of $3,239 from interest in 2012, and an average of $32,849 in total income. Thus, just under 10% of their income came from interest. In contrast, people ages 25 to 64 earned an average of $1,356 annually from interest, and $47,364 in total income. Less than 3% of income came from interest for people ages 25 to 64.

McKinsey concluded in a November 2013 report that from 2007 to 2012, defined-benefit pension plans and guaranteed-rate life insurance plans lost $270 billion of income due to the Fed’s low-interest-rate policies because they have far more interest bearing assets than liabilities. McKinsey estimated that American households have lost $360 billion of income. On average, American households are net savers.

The big winners of the Fed’s policies were the U.S. government, which gained about $900 billion, and non-financial corporations, which gained $310 billion.

McKinsey calculated that households headed by people under the age of 45 are net debtors and so have benefitted from lower rates. In particular, those households with heads ages 35 to 44 have gained $1,700 more in spending each year because of lower rates. Those under 35 gained $1,500 a year.

The losers are the seniors, especially household heads aged 75 and over, who lost $2,700 a year in income. Those aged between 65 and 74 lost $1,900.

If markets were perfectly liquid, seniors would be able to take advantage of falling interest rates to refinance their mortgages. But many seniors have no mortgage. Those that do are often unwilling to refinance. Others, even though they might want to refinance, find that their houses are worth less than the mortgage, and they cannot meet tighter credit standards.

Keeping interest rates low is not only bad for seniors and savers, it is bad for the economy as a whole. In a global marketplace, low interest rates in the United States discourage lending to the United States. The reason the Fed had to step in to buy Treasury paper is that there is lower demand because of ultra-low interest rates. When interest rates rise, and eventually they will, many parts of our financial system will have a rude awakening and a difficult adjustment. Our deficit will balloon with our high level of debt. Many businesses predicated on low interest rates will fail.

Small- and mid-sized economies cannot pretend that easy money is a successful monetary policy. Japan and Europe have tried easy money. It has not worked. The United States has performed slightly better, not because easy money is a good policy, but because people around the world still look to the dollar as a safe haven in times of trouble. And the world today has more than its fair share of troubles.

All Americans, and seniors in particular, will be better when the Fed abandons its low-interest-rate policy, despite some initial turbulence. Almost five years into the recovery, economic growth is stunted, and labor force participation rates are at 1978 levels. Seniors always tell their children they know better — now they should tell Janet Yellen to let those rates rise.

 

http://www.marketwatch.com/story/how-the-fed-is-hurting-seniors-2014-03-21

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Federal Reserve System To End The Zero Interest Rate Policy in 2015 and Financing Federal Government By Ending Quantitative Easying 3 By Fall of 2014 — No Exit Strategy — Bubbles Bursting — Videos

Posted on March 19, 2014. Filed under: American History, Banking, Blogroll, Communications, Economics, Federal Government Budget, Fiscal Policy, history, History of Economic Thought, liberty, Life, Macroeconomics, media, Monetary Policy, Money, Strategy, Talk Radio, Tax Policy, Video, Wealth | Tags: , , , , |

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Story 1: Federal Reserve System To End The Zero Interest Rate Policy in 2015 and Financing Federal Government By Ending Quantitative Easying 3 By Fall of 2014  – No Exit Strategy — Bubbles Bursting — Videos

janet_yellen

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Federal Reserve News Conference

Chair Janet Yellen held a news conference following a meeting of the Federal Reserve’s Open Market Committee.

http://www.c-span.org/video/?318360-1/federal-reserve-news-conference

Press Conference with Chair of the FOMC, Janet L. Yellen

Yellen says Fed will keep short-term interest rates low

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PROOF The Fed. Is Clueless: Stock Market MELTDOWN Coming. By Gregory Mannarino

Size of the Fed’s Balance Sheet is Concerning

EU European Union Economic Crisis 2013 2014 ; Jim Rickards Economy 2014

Marc Faber Gold, SIlver Won’t Collapse…. Outlook and Analysis

What’s the Deal with Zero Interest Rate Policy? – Laissez Faire Today Exclusive

Economic Meltdown 2014 – Financial Collapse – Gerald Celente – Peter Schiff

Fed’s No. 2 Strongly Backs Low-Rate Policy

Marc Faber: Fed Is ‘Boxed In’ With No Exit Strategy, Won’t End Quantitative Easing

Zero Interest Rate Policy (ZIRP) & Inflation

Talking to Chris Aiello, Managing Director at Dynasty Global Capital in Hong Kong. Chris discusses the zero interest rate policy followed by the Federal Reserve Bank in the United States and the impact on global economy of such a policy.

Michael Covel 001: Zero Interest Rate Policy

Ron Paul Hearing on the Fed’s Manipulation of Interest Rates 9/21/12

Ron Paul ~ The Fed Has Lost Control Of Interest Rates

Milton Friedman on the Failure of Wage and Price Controls

Banking 14: Fed Funds Rate

Banking 15: More on the Fed Funds Rate

Banking 16: Why target rates vs. money supply

Banking 17: What happened to the gold?

Banking 18: Big Picture Discussion

Quantitative Easing — How Does it Work in the Real World?

The video “Quantitative Easing — How Does It Work in the Real World?” explains in detail how the Federal Reserve injects freshly printed money into the real economy and how it may impact the stock market, and your purchasing power. Understanding the QE program and process in detail is extremely important relative to making the best investment decisions possible. Hedge funds, sovereign wealth funds, pension fund, high net worth investors, and alternative asset managers all over the globe will be receiving freshly printed U.S. dollars when they participate in the Fed’s Treasury buying and open market operations related to quantitative easing. Money manager Chris Ciovacco explains how the Fed can inflate the money supply while pushing new dollars into the stock, bond, commodity, currency, gold, silver, and precious metals markets. Understanding the lines of business and clients of the primary QE dealers will give you a rare and detailed insight into quantitative easing , Ben Bernanke, the Federal Reserve, open market operations, and global finance. The educational video, “Quantitative Easing — How Does It Work in the Real World?” was filmed and produced in Atlanta.

Quantitative Easing, the Fed, Finance, and Inflation — QE

The video, “Quantitative Easing (QE), The Federal Reserve, Finance, and Inflation” explains how the Fed “prints money” and who gets the new U.S. dollars. Primary Broker-Dealers, not traditional banks, are involved in the QE process and program. Understanding how QE works enables investors to make better asset allocation and investment decisions or formulate quantitative easing strategies related to wealth preservation and gold. The Fed encourages the Primary Dealers to involve their clients in the bond purchase program, which sheds light on how the printed money gets into the real economy. Chris Ciovacco, of Ciovacco Capital Management provides commentary, insight, and investment analysis as it relates to QE2. The brief educational video, “Quantitative Easing, The Fed, Finance, and Inflation — QE” was filmed in downtown Atlanta.

Quantitative Easing Bernanke — History & Objectives of QE

The video “Quantitative Easing — Ben Bernanke — History and Objectives of QE” gives insight into the Federal Reserve’s perspective of the need to print money in order to stimulate the economy, financial markets, and investing. Writings and comments from Brian Sack and Ben Bernanke are reviewed and analyzed as it relates to inflation, deflation, interest rates, household wealth, mortgage rates, asset prices, investing, money printing, and gold. Bernanke’s “helicopter speech” and “printing press” comments are reviewed in the context of quantitative easing and precious metals, the dollar, gold, and silver. The value of the U.S. dollar, inflation, and purchasing power are covered within the context of an inflation of the money supply via the “printing press”. The brief video “Quantitative Easing Bernanke — History & Objectives of QE” is presented by Chris Ciovacco of Ciovacco Capital Management.

Quantitative Easing (QE) 2010 — 2011 Why is the Fed printing money?

Video explains how the Federal Reserve’s QE program works. Primary broker-dealers, not banks, are the primary recipients of the Fed’s newly printed money. You Tube video explains how the Fed inflates the money supply via a bond purchase program with the NY Fed’s 18 primary dealers. Investment strategies and purchasing power protection can be better understood if investors understand the quantitative easing process and the primary dealer’s lines of business, involvement in global markets, and global client base. Hedge funds, sovereign wealth funds, and high net worth investors all over the globe can participate in the QE 2.0 process. Chris Ciovacco, of Ciovacco Capital Management, explains the possible impacts of the Federal Reserve’s quantitative easing program on the financial markets and your investments. The brief video “Quantitative Easing Explained” or “QE2 Explained” will provide rare insight into the Fed’s balance sheet policies.

Quantitative Easing Explained — Who Gets Fed’s Printed Money?

Video explains how the Federal Reserve’s QE program works. Primary broker-dealers, not banks, are the primary recipients of the Fed’s newly printed money. You Tube video explains how the Fed inflates the money supply via a bond purchase program with the NY Fed’s 18 primary dealers. Investment strategies and purchasing power protection can be better understood if investors understand the quantitative easing process and the primary dealer’s lines of business, involvement in global markets, and global client base. Hedge funds, sovereign wealth funds, and high net worth investors all over the globe can participate in the QE 2.0 process. Chris Ciovacco, of Ciovacco Capital Management, explains the possible impacts of the Federal Reserve’s quantitative easing program on the financial markets and your investments. The brief video “Quantitative Easing Explained” or “QE2 Explained” will provide rare insight into the Fed’s balance sheet policies.

QE2: Quantitative Easing Investing & Stock Market Consequences

Video covers quantitative easing investing and stock market strategies. How gold may be used to protect your purchasing power from QE2. Asset class and investment options are discussed for inflation and deflation, spanning gold, silver, copper, oil, stocks, dividend payers, CDs, utilities, consumer staples, and cash. With the economy and financial markets dealing with inflationary and deflationary forces, flexible investment strategies are needed. Chris Ciovacco, of Ciovacco Capital Management, provides commentary and analysis on QE 2.0, the U.S. Dollar, euro, possible economic and market outcomes related to the Federal Reserve’s program to print money. “Quantitative Easing Investing and Stock Market Consequences” was recorded in Atlanta covering 2010 and 2011 investment strategies.

U.S. Stocks Drop as Fed’s Yellen Outlines Stimulus Exit

By Callie Bost  Mar 19, 2014 3:02 PM CT

U.S. stocks fell for the first time in three days as Federal Reserve Chair Janet Yellen said the central bank’s stimulus program could end this fall and benchmark interest rates could rise six months later.

The S&P 500 slipped 0.6 percent to 1,860.83 at 4 p.m. in New York. The Dow Jones Industrial Average (INDU) slid 113.51 points, or 0.7 percent, to 16,222.68. Trading volume for S&P 500 stocks was in line with the 30-day average at this time of day.

“The pace of tightening, once the Fed starts tightening, is a little bit faster than thought before and I think that’s why we’re getting this market reaction,”John Canally, an economic strategist at LPL Financial Corp., said in a phone interview from Boston. His firm oversees about $438.4 billion. “Being reminded that the Fed will eventually raise rates is getting traders’ attention. We’re still a long way off and there are no signs in the economy about inflation.”

By keeping its benchmark interest-rate target near zero and conducting three rounds of asset purchases, the Fed has helped push the S&P 500 up as much as 178 percent from a 12-year low as U.S. equities enter the sixth year of a bull market that started in March 2009.

Higher Rates

Stocks turned lower today as the Fed’s statement said officials predicted their target interest rate would be 1 percent at the end of 2015 and 2.25 percent a year later, higher than previously forecast, as they upgraded projections for gains in the labor market.

Most Federal Open Market Committee participants reiterated their view that the Fed will refrain from raising the benchmark interest rate until 2015. The median rate among 16 Fed officials rose from December, when they estimated the rate at the end of next year at 0.75 percent, and 1.75 percent for the end of 2016. The central bank said it will look at a wide range of data in determining when to raise its rate from zero, dropping a pledge tying borrowing costs to a 6.5 percent unemployment rate.

Benchmark indexes extended losses as Yellen said the quantitative easing program would end this fall if the Fed continues to taper purchases in measured steps. She sees a “considerable time” between the end of the stimulus and the first rate increase, meaning “six months or that type of thing,” she said at her first press conference following a Fed decision.

‘Risk Factor’

“U.S. indices are moving quickly on Yellen’s comments,” Larry Peruzzi, senior equity trader at Cabrerra Capital Markets LLC in Boston, said in an e-mail. “Equities are adjusting the risk factor of higher rates.”

The S&P 500 advanced 1.7 percent in the last two days as Russia pledged not to seek territory beyond Crimea. The U.S. and Europe are preparing to ratchet up sanctions on Russia after President Vladimir Putin signed an accord setting in motion Crimea’s accession to Russia. With visa bans and asset freezes on Russian officials failing to sway Putin, European Union leaders will meet tomorrow to consider “additional and far-reaching consequences.”

Investors have added $8 billion to U.S. equity exchange-traded funds in the past five days and $1.1 billion to bond ETFs, data compiled by Bloomberg show. Materials stocks absorbed the most money among industry ETFs, taking in $689 million during the past week.

http://www.bloomberg.com/news/2014-03-19/u-s-stock-index-futures-are-little-changed-before-fomc.html

Recap: Janet Yellen’s Press Conference and Fed Decision

Janet Yellen wrapped up her first policy meeting Wednesday as chairwoman of theFederal Reserve, then stepped in front of reporters (and live cameras) for her first press conference.

The new chairwoman had a big job, explaining a major shift in forward guidance for when the central bank might increase rates. In her press conference, she suggested that might be around six months after the Fed ends its bond-buying program.

  • Welcome to another big day in Fed land. Our nation’s central bankers have likely wrapped up their two-day meeting by now. We’re waiting for the Federal Open Market Committee’s policy statement at 2 p.m., along with updated projections from all Fed officials. Then we get Janet Yellen herself half an hour later, at 2:30, for her first press conference.We should have answers to a number of key questions over the next few hours: If the Fed ditches it forward guidance about interest rates, what will replace it? Did Chairwoman Yellen maintain consensus on the committee?  Will she stick around for a couple of hours answering reporters’ questions, like she did with lawmakers?
  • Fun Fed fact, which all you Fed geeks out there surely knew already: Janet Yellen was a driving force behind Fed press conferences.

    As Fed vice chairman, she led a committee shaping the central bank’s overhaul of its communication strategy: the statement, the economic projections, the press conference and more. So if she doesn’t like what she faces in a few hours, she can only blame herself.

    We’ve been doing this for a few years. While you’re waiting, take a trip into our archives for a peek at prior press conferences. It started way back in the days of QE2. long before the word “taper” became the subject of heated dinner-table conversation among economists.

    http://blogs.wsj.com/economics/2014/03/19/live-blog-janet-yellens-press-conference-after-fed-decision/

 

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Listen To Pronk Pops Podcast or Download Show 151-157

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Listen To Pronk Pops Podcast or Download Show 124-130

Listen To Pronk Pops Podcast or Download Shows 121-123

Listen To Pronk Pops Podcast or Download Shows 118-120

Listen To Pronk Pops Podcast or Download Shows 113 -117

Listen To Pronk Pops Podcast or Download Show 112

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Listen To Pronk Pops Podcast or Download Shows 106-108

Listen To Pronk Pops Podcast or Download Shows 104-105

Listen To Pronk Pops Podcast or Download Shows 101-103

Listen To Pronk Pops Podcast or Download Shows 98-100

Listen To Pronk Pops Podcast or Download Shows 94-97

Listen To Pronk Pops Podcast or Download Shows 93

Listen To Pronk Pops Podcast or Download Shows 92

Listen To Pronk Pops Podcast or Download Shows 91

Listen To Pronk Pops Podcast or Download Shows 88-90

Listen To Pronk Pops Podcast or Download Shows 84-87

Listen To Pronk Pops Podcast or Download Shows 79-83

Listen To Pronk Pops Podcast or Download Shows 74-78

Listen To Pronk Pops Podcast or Download Shows 71-73

Listen To Pronk Pops Podcast or Download Shows 68-70

Listen To Pronk Pops Podcast or Download Shows 65-67

Listen To Pronk Pops Podcast or Download Shows 62-64

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[youtubehttp://www.youtube.com/watch?v=zw3p2E9gziM]

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Global Government Debt Exceeds $100 Trillion and Climbing — Videos

Posted on March 9, 2014. Filed under: American History, Banking, Blogroll, Communications, Constitution, Crime, Economics, Education, Employment, Family, Federal Government, Federal Government Budget, Fiscal Policy, Freedom, Friends, government, government spending, Health Care, history, Language, Law, liberty, Life, Links, media, Microeconomics, Monetary Policy, Money, Obamacare, People, Philosophy, Photos, Politics, Press, Rants, Resources, Security, Talk Radio, Tax Policy, Taxes, Unemployment, Video, War, Wealth, Wisdom | Tags: , , , , , , , , , |

National Debt Projection for 2014.IMF

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Public Debt 1792 - 2014

National-Deb

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U.S. Debt Clock.org

http://www.usdebtclock.org/

$17 Trillion U.S. DEBT – A Visual Perspective

Chart: Total Federal Government Debt Since 1950

How Big Is the U.S. Debt?

US Unfunded Liabilities

Peter Schiff Thinks ‘Unfunded Liabilities’ Is An Economic Indicator

Deficits, Debts and Unfunded Liabilities: The Consequences of Excessive Government Spending

Economist: Real national debt is over $70 trillion, not $17 trillion

The First 12 Hours of a US Dollar Collapse

Overdose: The Next Financial Crisis

Debt-Statue-of-Liberty

Global Debt Exceeds $100 Trillion as Governments Binge, BIS Says

By John Glover  Mar 9, 2014 6:00 AM CT

The amount of debt globally has soared more than 40 percent to $100 trillion since the first signs of the financial crisis as governments borrowed to pull their economies out of recession and companies took advantage of record low interest rates, according to the Bank for International Settlements.

The $30 trillion increase from $70 trillion between mid-2007 and mid-2013 compares with a $3.86 trillion decline in the value of equities to $53.8 trillion in the same period, according to data compiled by Bloomberg. The jump in debt as measured by the Basel, Switzerland-based BIS in its quarterly review is almost twice the U.S.’s gross domestic product.

Borrowing has soared as central banks suppress benchmark interest rates to spur growth after the U.S. subprime mortgage market collapsed and Lehman Brothers Holdings Inc.’s bankruptcy sent the world into its worst financial crisis since the Great Depression. Yields on all types of bonds, from governments to corporates and mortgages, average about 2 percent, down from more than 4.8 percent in 2007, according to the Bank of America Merrill Lynch Global Broad Market Index.

“Given the significant expansion in government spending in recent years, governments (including central, state and local governments) have been the largest debt issuers,” according to Branimir Gruic, an analyst, and Andreas Schrimpf, an economist at the BIS. The organization is owned by 60 central banks and hosts the Basel Committee on Banking Supervision, a group of regulators and central bankers that sets global capital standards.

Austerity Measures

Marketable U.S. government debt outstanding has surged to a record $12 trillion, up from $4.5 trillion at the end of 2007, according to U.S. Treasury data compiled by Bloomberg. Corporate bond sales globally jumped during the period, with issuance totaling more than $21 trillion, Bloomberg data show.

Concerned that high debt loads would cause international investors to avoid their markets, many nations resorted to austerity measures of reduced spending and increased taxes, reining in their economies in the process as they tried to restore the fiscal order they abandoned to fight the worldwide recession.

Adjusting budgets to ignore interest payments, the International Monetary Fund said late last year that the so-called primary deficit in the Group of Seven countries reached an average 5.1 percent in 2010 when also smoothed to ignore large economic swings. The measure will fall to 1.2 percent this year, the IMF predicted.

The unprecedented retrenchments between 2010 and 2013 amounted to 3.5 percent of U.S. gross domestic product and 3.3 percent of euro-area GDP, according to Julian Callow, chief international economist at Barclays Plc in London.

The riskiest to the most-creditworthy bonds have returned more than 31 percent since 2007, according to Bank of America Merrill Lynch index data. Treasury and agency debt handed investors gains of 27 percent in the period, while corporate bonds worldwide returned more than 40 percent, the indexes show.

http://www.bloomberg.com/news/2014-03-09/global-debt-exceeds-100-trillion-as-governments-binge-bis-says.html

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Senator Rand Paul Wins CPAC Poll for Second Year In A Row — Republican Candidate for President in 2016 — We Are The Champions — I Stand With Rand — Videos

Posted on March 9, 2014. Filed under: American History, Banking, Blogroll, Business, College, Communications, Computers, Constitution, Crime, Culture, Economics, Education, Employment, Energy, Faith, Family, Federal Government, Federal Government Budget, Fiscal Policy, Food, Foreign Policy, Freedom, Friends, government, government spending, Health Care, Heroes, history, History of Economic Thought, Illegal, Immigration, IRS, Language, Law, Legal, liberty, Life, Links, Literacy, Macroeconomics, Math, media, Monetary Policy, Money, Natural Gas, Natural Gas, Nuclear Power, Obamacare, Oil, Oil, People, Philosophy, Photos, Politics, Press, Public Sector, Radio, Raves, Regulations, Resources, Security, Strategy, Talk Radio, Tax Policy, Taxes, Technology, Unemployment, Unions, Video, War, Wealth, Wisdom | Tags: , , , , , , , , , , , , , , , , , , |

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Rand Paul

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Senator Paul Extends Lead Fro 2013 Win Over Rubio

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Rand Paul wins CPAC 2014 Presidential Straw Poll C-SPAN

Rand Paul wins CPAC 2014 Presidential Straw Poll C-SPAN

Rand Paul Previews His CPAC 2014 Speech

Rand Paul CPAC 2014 Speech (FULL) – Let Us All Stand Together in Liberty!

Rand Paul’s CPAC 2013 Speech – 3/14/2013

The BEST foreign policy speech EVER! – Libertarian Senator Rand Paul

Senator Rand Paul

Best 7 minutes of Ronald Reagan at CPAC

President Reagan’s Remarks at the Conservative Political Action Conference – Feb. 26 , 1982

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Champions are made from something they have deep inside of them a desire, a dream, a vison.

~ Mahatma Gandhi

Queen - We Are The Champions (HQ) (Live At Wembley 86)

Queen- live at Wembley Stadium 12-07-1986 Saturday (25th Anniversary Edition)

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Rand Paul wins 2014 CPAC straw poll, Ted Cruz finishes a distant second

Rubio and Ryan, GOP leaders in Congress all see big drops in support

Sen. Rand Paul demolished his competition in the 2014 Washington Times/CPAC presidential preference straw poll on Saturday, winning 31 percent of the vote — nearly three times the total of second-place Sen. Ted Cruz.

The poll also found a strong plurality of attendees at the Conservative Political Action Conference believe marijuana should be fully legalized, with 41 percent saying it’s time to change the law and tax it. Another 21 percent said it should be legalized only for medicinal purposes, while just 31 percent said it should remain illegal in all cases.


SEE ALSO: CPAC 2014 straw poll results


In the presidential poll, Mr. Cruz’s 11 percent was a big improvement for the freshman senator, who won just 4 percent in last year’s straw poll. Neurosurgeon Ben Carson was third with 9 percent and New Jersey Gov. Chris Christie was fourth with 8 percent in results that signal growing discontent with the GOP establishment in Washington.

Indeed, CPAC voters now have an unfavorable view of Republicans in Congress, with 51 percent saying they disapprove of the job the GOP is doing on Capitol Hill. Just last year the GOP had a 54 percent approval rating, and in 2012 they held a 70 percent approval rating.

But a series of tough votes over the last few months that saw Republican leaders work with President Obama to boost spending and raised the government’s debt limit have deepened a rift between the GOP’s leadership on Capitol Hill and conservative activists around the country.

Sen. Ted Cruz, R-Texas, speaks at the Conservative Political Action Committee annual conference in National Harbor, Md., Thursday, March 6, 2014. Thursday marks the first day of the annual Conservative Political Action Conference, which brings together prospective presidential candidates, conservative opinion leaders and tea party activists from coast to coast. (AP Photo/Susan Walsh)Enlarge PhotoSen. Ted Cruz, R-Texas, speaks at the Conservative Political Action Committee annual … more >

That could be one reason why Rep. Paul Ryan, the Wisconsin Republican who wrote December’s budget deal that boosted spending in 2014 and 2015, saw his standing with CPAC voters cut in half — from 6 percent support in last year’s presidential straw poll to just 3 percent this year.

Sen. Marco Rubio suffered an even bigger drop, falling from 23 percent and second place in 2013 to seventh place, with 6 percent, this year.

“I like Ted Cruz, I like Rand Paul, I like Mike Lee. I like Rubio, but less now than I did a year ago because of immigration,” said David Fitzwilliam, 83.


SEE ALSO: Rand Paul urges conservatives to fight with him for liberty


For Mr. Paul, the victory is his second in a row, and he saw his support climb from 25 percent last year to 31 percent this year.

“He is the only true liberty candidate who focuses on civil liberties more than anybody else,” said Al Seltzinger, 36, from Baltimore. “I think the way the nation is going today with the government and the president going against the Constitution that we need someone who holds strict to the Constitution and whose voting record is pretty solid when it comes to the Constitution.”

Mr. Cruz also jumped from just 4 percent last year — when he was a newly sworn-in senator — to his 11 percent this year.

Mr. Carson, who gained prominence with a 27-minute speech challenging Mr. Obama when the two appeared at the 2013 National Prayer Breakfast, is also on the rise. In last year’s straw poll, taken just after that speech, he garnered 4 percent of the vote, but jumped to 9 percent this year.

“I love Ted Cruz, I love Rand Paul, but Ben Carson is all of the above,” said Jean Carlton, a 71-year-old CPAC attendee who said the doctor’s lack of Washington experience was a big plus.

For his part Mr. Christie, who has faced political troubles back home in New Jersey after his staffers caused a traffic jam on the George Washington Bridge to punish a town mayor, seems to be holding steady among activists. He rose from 7 percent last year to 8 percent support this year.

In his speech to the conference on Thursday, Mr. Christie argued that the GOP needs to not only pick a conservative champion, but pick a candidate who can get elected.

“We can’t govern if we can’t win,” he said.

That resonated with some CPAC straw poll voters.

“I think he has the best chance in the general election. I am less optimistic about his chances in the primary, but he seems to be more palatable to Independents and Democrats. I think electability is the main concern,” said Matthew Smith, a 19-year-old student at Yale University.

This year’s straw poll listed 25 potential candidates, which is far more than usual. The high number signals just how wide open the GOP’s presidential contest is with two years to go before the first caucuses and primaries.

On the Democratic side, meanwhile, former Secretary of State Hillary Rodham Clinton easily leads the rest of her party’s field in national and state polling.

Previous versions of The Washington Times/CPAC poll showed that the audience that gathers in Washington leans younger and more libertarian than the conservative movement throughout the country, which likely gives Mr. Paul a boost with this crowd here.

Indeed, his father, then-Rep. Ron Paul, won the straw poll twice on a similar libertarian-minded message, though he struggled to translate that support into votes when it came to primaries and caucuses.

The straw poll was conducted between Thursday and Saturday afternoon, and 2,459 votes were cast.

http://www.washingtontimes.com/news/2014/mar/8/rand-paul-wins-2014-cpac-straw-poll-ted-cruz-finis/

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The Coming Stock Market Crash and Recession? The End of American As You Know It? — Videos

Posted on March 3, 2014. Filed under: American History, Banking, Blogroll, Business, Climate, College, Communications, Economics, Education, Employment, Energy, European History, Federal Government, Federal Government Budget, Fiscal Policy, Foreign Policy, Freedom, government spending, history, History of Economic Thought, Inflation, Investments, IRS, Law, liberty, Life, Links, Macroeconomics, media, Microeconomics, Monetary Policy, Money, Photos, Politics, Press, Radio, Raves, Regulations, Resources, Securities and Exchange Commission, Security, Strategy, Talk Radio, Tax Policy, Taxes, Technology, Unemployment, Video, War, Wealth | Tags: , , , , , , , , , , , , , , , , , , , , , , |

Project_1

The Pronk Pops Show Podcasts

Pronk Pops Show 220: February 27, 2014

Pronk Pops Show 219: February 26, 2014

Pronk Pops Show 218: February 25, 2014

Pronk Pops Show 217: February 24, 2014

Pronk Pops Show 216: February 21, 2014

Pronk Pops Show 215: February 20, 2014

Pronk Pops Show 214: February 19, 2014

Pronk Pops Show 213: February 18, 2014

Pronk Pops Show 212: February 17, 2014

Pronk Pops Show 211: February 14, 2014 

Pronk Pops Show 210: February 13, 2014

Pronk Pops Show 209: February 12, 2014

Pronk Pops Show 208: February 11, 2014

Pronk Pops Show 207: February 10, 2014

Pronk Pops Show 206: February 7, 2014

Pronk Pops Show 205: February 5, 2014

Pronk Pops Show 204: February 4, 2014

Pronk Pops Show 203: February 3, 2014

Pronk Pops Show 202: January 31, 2014

Pronk Pops Show 201: January 30, 2014

Pronk Pops Show 200: January 29, 2014

Pronk Pops Show 199: January 28, 2014

Pronk Pops Show 198: January 27, 2014

Pronk Pops Show 197: January 24, 2014

Pronk Pops Show 196: January 22, 2014

Pronk Pops Show 195: January 21, 2014

Pronk Pops Show 194: January 17, 2014

Pronk Pops Show 193: January 16, 2014

Pronk Pops Show 192: January 14, 2014

Pronk Pops Show 191: January 13, 2014

Pronk Pops Show 190: January 10, 2014

Pronk Pops Show 189: January 9, 2014

Pronk Pops Show 188: January 8, 2014

Pronk Pops Show 187: January 7, 2014

Pronk Pops Show 186: January 6, 2014

Pronk Pops Show 185: January 3, 2014

Pronk Pops Show 184: December 19, 2013

Pronk Pops Show 183: December 17, 2013

Pronk Pops Show 182: December 16, 2013

Pronk Pops Show 181: December 13, 2013

Pronk Pops Show 180: December 12, 2013

Pronk Pops Show 179: December 11, 2013

Pronk Pops Show 178: December 5, 2013

Pronk Pops Show 177: December 2, 2013

The Pronk Pops Show Podcasts Portfolio

Listen To Pronk Pops Podcast or Download Show 211-220

Listen To Pronk Pops Podcast or DownloadShow 202-210

Listen To Pronk Pops Podcast or Download Show 194-201

Listen To Pronk Pops Podcast or Download Show 184-193

Listen To Pronk Pops Podcast or Download Show 174-183

Listen To Pronk Pops Podcast or Download Show 165-173

Listen To Pronk Pops Podcast or Download Show 158-164

Listen To Pronk Pops Podcast or Download Show 151-157

Listen To Pronk Pops Podcast or Download Show 143-150

Listen To Pronk Pops Podcast or Download Show 135-142

Listen To Pronk Pops Podcast or Download Show 131-134

Listen To Pronk Pops Podcast or Download Show 124-130

Listen To Pronk Pops Podcast or Download Shows 121-123

Listen To Pronk Pops Podcast or Download Shows 118-120

Listen To Pronk Pops Podcast or Download Shows 113 -117

Listen To Pronk Pops Podcast or Download Show 112

Listen To Pronk Pops Podcast or Download Shows 108-111

Listen To Pronk Pops Podcast or Download Shows 106-108

Listen To Pronk Pops Podcast or Download Shows 104-105

Listen To Pronk Pops Podcast or Download Shows 101-103

Listen To Pronk Pops Podcast or Download Shows 98-100

Listen To Pronk Pops Podcast or Download Shows 94-97

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Listen To Pronk Pops Podcast or Download Shows 92

Listen To Pronk Pops Podcast or Download Shows 91

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Listen To Pronk Pops Podcast or Download Shows 79-83

Listen To Pronk Pops Podcast or Download Shows 74-78

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Listen To Pronk Pops Podcast or Download Shows 68-70

Listen To Pronk Pops Podcast or Download Shows 65-67

Listen To Pronk Pops Podcast or Download Shows 62-64

Listen To Pronk Pops Podcast or Download Shows 58-61

Listen To Pronk Pops Podcast or Download Shows 55-57

Listen To Pronk Pops Podcast or Download Shows 52-54

Listen To Pronk Pops Podcast or Download Shows 49-51

Listen To Pronk Pops Podcast or Download Shows 45-48

Listen To Pronk Pops Podcast or Download Shows 41-44

Listen To Pronk Pops Podcast or Download Shows 38-40

Listen To Pronk Pops Podcast or Download Shows 34-37

Listen To Pronk Pops Podcast or Download Shows 30-33

Listen To Pronk Pops Podcast or Download Shows 27-29

Listen To Pronk Pops Podcast or Download Shows 17-26

Listen To Pronk Pops Podcast or Download Shows 16-22

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Listen To Pronk Pops Podcast or Download Shows 01-09

Story 1: The Coming Stock Market Crash and Recession? The End of American As You Know It? — Videos

Obama ObamaCare Economic Collapse stock-market-crash-1929 20141929-IS-A-MOLEHILL-COMPARED-TO-THIS-MOUNTAINdow-today-vs-1929-feb-5

01 - 140121 Strongest + Logest Bull Cycles in the DJIA since 1900stockMCrash

transfer payment

Bubble, Stock Market Crash Coming Like 1929

Bubble, Stock Market Crash Coming New uptade Economic Monitor 2014

Keiser Report: Guest Dough Casey

Doug Casey on Stupidity, Evil, and the Decline of the U.S.

Jim Rogers Stock Market Crash, The Fed Will Come To The Rescue

EU European Union Economic Crisis 2013 2014

Market Crash, Global Economic Shocks Coming in 2014, World War 3 Gerald Celente

World Economy : Chart shows similarities between 1929 Stock Market Crash and Today

Glenn Beck: 1929 vs. 2014

Peter Schiff Market Crash 2014 | London Real

Peter Schiff – Market Crash 2014 | London Real

There Will Be No Economic Recovery. Prepare Yourself Accordingly.

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Cutting Defense Expenditures and Size of the Army — Videos

Posted on February 27, 2014. Filed under: American History, Banking, Blogroll, Business, College, Communications, Constitution, Economics, Education, Employment, European History, Federal Government, Federal Government Budget, Fiscal Policy, Freedom, government, government spending, history, Law, liberty, Life, Links, media, Monetary Policy, Money, People, Philosophy, Photos, Politics, Rants, Raves, Regulations, Tax Policy, Video, War, Wealth, Weather, Wisdom | Tags: , , , , , , , , , , , , , , , , , , , , |

Project_1

The Pronk Pops Show Podcasts

Pronk Pops Show 218: February 25, 2014

Pronk Pops Show 217: February 24, 2014

Pronk Pops Show 216: February 21, 2014

Pronk Pops Show 215: February 20, 2014

Pronk Pops Show 214: February 19, 2014

Pronk Pops Show 213: February 18, 2014

Pronk Pops Show 212: February 17, 2014

Pronk Pops Show 211: February 14, 2014 

Pronk Pops Show 210: February 13, 2014

Pronk Pops Show 209: February 12, 2014

Pronk Pops Show 208: February 11, 2014

Pronk Pops Show 207: February 10, 2014

Pronk Pops Show 206: February 7, 2014

Pronk Pops Show 205: February 5, 2014

Pronk Pops Show 204: February 4, 2014

Pronk Pops Show 203: February 3, 2014

Pronk Pops Show 202: January 31, 2014

Pronk Pops Show 201: January 30, 2014

Pronk Pops Show 200: January 29, 2014

Pronk Pops Show 199: January 28, 2014

Pronk Pops Show 198: January 27, 2014

Pronk Pops Show 197: January 24, 2014

Pronk Pops Show 196: January 22, 2014

Pronk Pops Show 195: January 21, 2014

Pronk Pops Show 194: January 17, 2014

Pronk Pops Show 193: January 16, 2014

Pronk Pops Show 192: January 14, 2014

Pronk Pops Show 191: January 13, 2014

Pronk Pops Show 190: January 10, 2014

Pronk Pops Show 189: January 9, 2014

Pronk Pops Show 188: January 8, 2014

Pronk Pops Show 187: January 7, 2014

Pronk Pops Show 186: January 6, 2014

Pronk Pops Show 185: January 3, 2014

Pronk Pops Show 184: December 19, 2013

Pronk Pops Show 183: December 17, 2013

Pronk Pops Show 182: December 16, 2013

Pronk Pops Show 181: December 13, 2013

Pronk Pops Show 180: December 12, 2013

Pronk Pops Show 179: December 11, 2013

Pronk Pops Show 178: December 5, 2013

Pronk Pops Show 177: December 2, 2013

The Pronk Pops Show Podcasts Portfolio

Listen To Pronk Pops Podcast or Download Show 211-218

Listen To Pronk Pops Podcast or DownloadShow 202-210

Listen To Pronk Pops Podcast or Download Show 194-201

Listen To Pronk Pops Podcast or Download Show 184-193

Listen To Pronk Pops Podcast or Download Show 174-183

Listen To Pronk Pops Podcast or Download Show 165-173

Listen To Pronk Pops Podcast or Download Show 158-164

Listen To Pronk Pops Podcast or Download Show 151-157

Listen To Pronk Pops Podcast or Download Show 143-150

Listen To Pronk Pops Podcast or Download Show 135-142

Listen To Pronk Pops Podcast or Download Show 131-134

Listen To Pronk Pops Podcast or Download Show 124-130

Listen To Pronk Pops Podcast or Download Shows 121-123

Listen To Pronk Pops Podcast or Download Shows 118-120

Listen To Pronk Pops Podcast or Download Shows 113 -117

Listen To Pronk Pops Podcast or Download Show 112

Listen To Pronk Pops Podcast or Download Shows 108-111

Listen To Pronk Pops Podcast or Download Shows 106-108

Listen To Pronk Pops Podcast or Download Shows 104-105

Listen To Pronk Pops Podcast or Download Shows 101-103

Listen To Pronk Pops Podcast or Download Shows 98-100

Listen To Pronk Pops Podcast or Download Shows 94-97

Listen To Pronk Pops Podcast or Download Shows 93

Listen To Pronk Pops Podcast or Download Shows 92

Listen To Pronk Pops Podcast or Download Shows 91

Listen To Pronk Pops Podcast or Download Shows 88-90

Listen To Pronk Pops Podcast or Download Shows 84-87

Listen To Pronk Pops Podcast or Download Shows 79-83

Listen To Pronk Pops Podcast or Download Shows 74-78

Listen To Pronk Pops Podcast or Download Shows 71-73

Listen To Pronk Pops Podcast or Download Shows 68-70

Listen To Pronk Pops Podcast or Download Shows 65-67

Listen To Pronk Pops Podcast or Download Shows 62-64

Listen To Pronk Pops Podcast or Download Shows 58-61

Listen To Pronk Pops Podcast or Download Shows 55-57

Listen To Pronk Pops Podcast or Download Shows 52-54

Listen To Pronk Pops Podcast or Download Shows 49-51

Listen To Pronk Pops Podcast or Download Shows 45-48

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Listen To Pronk Pops Podcast or Download Shows 27-29

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Listen To Pronk Pops Podcast or Download Shows 01-09

Story 1: Cutting Defense Expenditures and Size of the Army — Videos

Military-spending-sequesterproposed-dicretionary

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Military Spending 5

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Govt Spending 12-13

3 Reasons Conservatives Should Cut Defense

Spending Now!

Chuck Hagel has proposed shrinking the US Army to its smallest force since World War Two

Pentagon Plans to Cut Army to Pre World War II Level

Size of U.S. army could be drastically reduced

Ron Paul on Defense Spending vs. Overseas Military Spending

BBC News Japan boosts military forces to counter China

Military Video_ Us Air force Falling Behind Russia And China In Technology

Pentagon plans to shrink US Army to pre-WWII level

The Pentagon plans to scale back the US Army by more than an eighth to its lowest level since before World War II, signaling a shift after more than a decade of ground wars.

Saying it was time to “reset” for a new era, Defense Secretary Chuck Hagel recommended shrinking American forces from 520,000 active duty troops to between 440,000 and 450,000.

In a speech outlining the proposed defense budget, he said Monday that after Iraq and Afghanistan, US military leaders no longer plan to “conduct long and large stability operations.”

If approved by Congress, the Pentagon move would reduce the army to its lowest manning levels since 1940, before the American military dramatically expanded after entering World War II.

The proposed 13 percent reduction in the army would be carried out by 2017, a senior defense official, who spoke on condition of anonymity, told AFP.

The spending plan is the first to “fully reflect” a transition away from a war footing that has been in place for 13 years, Hagel said at a press conference.

The plan comes amid growing fiscal pressures and after years of protracted counter-insurgency campaigns, which saw the army reach a peak of more than 566,000 troops in 2010.

Having withdrawn US forces from Iraq in 2011, President Barack Obama has promised to end America’s combat role in Afghanistan by the end of this year.

The proposed cut in manpower along with plans to retire some older aircraft and reform benefits for troops could run into stiff resistance in Congress.

A senior US military officer, speaking on condition of anonymity, acknowledged the political challenge.

“We’re going to need some help from our elected representatives to get this budget across the finish line,” the officer said.

Several members of the Senate Armed Services Committee immediately expressed reservations about the budget proposal.

Republican Senator Roy Blunt of Missouri, who sits on the committee, said the proposals had the “potential to harm America’s military readiness.”

The Pentagon had previously planned to downsize the ground force to about 490,000.

But Hagel warned that to adapt to future threats “the army must accelerate the pace and increase the scale of its post-war drawdown.”

Hagel also said the army national guard and reserves would be cut by five percent.

The smaller force would entail some “added risk” but it would still be able to defeat an adversary in one region while also “supporting” air and naval operations in another, he said.

The Pentagon for years had planned to ensure the army could fight two major wars at the same time but that doctrine has been abandoned.

Even under the planned reductions, the US Army will remain one of the largest in the world and the American military’s budget still dwarfs other countries’ defense spending.

While the army will see troop numbers drop, the military’s elite special operations forces will be increased to 69,700 — up from 66,000 currently.

- Retiring old aircraft -

The proposed budget also calls for scrapping the Air Force’s entire fleet of A-10 “tank killer” aircraft and retiring the storied U-2 spy plane that dates back to the 1950s.

The A-10 enjoys backing from some lawmakers but commanders want to invest in the new hi-tech F-35 fighter jet and the unmanned Global Hawk surveillance drone.

The budget would reduce the US Navy’s planned fleet of littoral combat ships, a small vessel designed for coastal waters that faces questions about its reliability.

Instead of 52 LCS ships, the budget calls for building only 32 and requires the navy to study developing similar ships with heavier weapons and tougher defenses.

Venturing into politically sensitive territory, Hagel called for slowing growth in pay and benefits — which make up nearly half the Pentagon’s budget — and closing more bases in the United States.

Lawmakers have long resisted base closures or any reform of pay, pensions or other benefits.

Military spending doubled after the attacks of September 11, 2001 but has started to decline as lawmakers push to slash government budgets.

Under a bipartisan accord adopted in December to avert automatic spending cuts, the Defense Department will have a $496 billion budget for fiscal year 2015.

But the Pentagon is backing a $26 billion “opportunity” fund that would bolster training and other programs.

http://news.yahoo.com/pentagon-proposes-shrink-us-army-pre-wwii-level-183915098.html;_ylt=AwrTWf1X8gtTyCsAGVTQtDMD

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Senator Rand Paul Republican Party Front-Runner — A Profile in Courage — Videos

Posted on February 27, 2014. Filed under: American History, Banking, Blogroll, College, Communications, Economics, Education, Faith, Family, Federal Government, Federal Government Budget, Fiscal Policy, Foreign Policy, government, government spending, history, Inflation, Language, Law, liberty, Life, Links, Macroeconomics, media, Microeconomics, Monetary Policy, Money, People, Philosophy, Photos, Politics, Press, Raves, Resources, Security, Tax Policy, Technology, Unemployment, Video, War, Wealth, Wisdom | Tags: , , , , , , , , , , , , , , , , |

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The Pronk Pops Show Podcasts

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Story 1: Senator Rand Paul Republican Party Front-Runner —  A Profile in Courage –Videos

rand-paulRand Paul, Kelley Paul, William Paul, Robert Paul, Duncan PaulRand_Paul_family

Profile in Courage

Sen. Rand Paul : I’ll Decide in 2014 on a Presidential Run – 2/17/13

Sen. Paul: I heard Obama say `trust me` on NSA

Rand Paul’s Plan To Grow The Economy – Glenn Beck Radio 2/13/2013

Judge Jeanine Pirro Asks Rand Paul If He Will Run For President 2016

Chris Matthews: Rand Paul Will Be Republican Presidential Nominee in 2016

Rand Paul: Voters ready for Libertarian Republican in 2016

Sen. Rand Paul Defends the Fourth Amendment – February 11, 2014

Sen Rand Paul (R-KY) Announces Lawsuit Vs Pres Obama, Dirs Of NSA, FBI, DNi, FBI Named In Suit

Sen. Rand Paul Delivers Response to President’s State of the Union Address

Senator Rand Paul HUMILIATES and EXPOSES John Kerry!!

Explosive: Sen. Rand Paul To Hillary Clinton – I Would Have Fired You

Reclaiming Our Rights in the 21st Century (Sen. Rand Paul)

How Rand Paul said the ‘politically bravest thing’ in Washington

Chris Christie Ties Rand Paul for 2016 GOP Primary Lead as Ted Cruz Slips 5 Points

Rand Paul: I’m Thinking Of Running For President – Fox News’ O’Reilly Factor 2/5/2013

Rand Paul: NSA Spying Doesn’t Make Me Feel Any Safer, But I Do Feel My Privacy Is Being Intruded On

Rand Paul: Voters ready for Libertarian Republican in 2016

Sen. Rand Paul Filing Class-Action Lawsuit Against NSA

Liberty & Civil Rights speech by Senator Rand Paul Howard University

How the GOP Can Attract Young People: Rand Paul and Glenn Beck

Glenn Beck: Rand Paul On Freedom

Rand Paul Is the GOP’s Early Presidential Front-Runner

While the establishment hopes for a governor to emerge, he is quietly putting together a formidable operation.

Republican strategists like to say the party’s next nominee needs to hail from the GOP’s gubernatorial ranks. It’s a response to how unpopular Washington is—particularly the party’s congressional wing—and a reflection of the party’s strength in holding a majority of governorships. But another reason for the gubernatorial focus is to sidestep the one formidable candidate that gives the establishment heartburn: Sen. Rand Paul.

Make no mistake: The Kentuckian scares the living daylights out of many Republicans looking for an electable nominee capable of challenging Hillary Clinton. At the same time, he’s working overtime to broaden the party’s image outside its traditional avenues of support. The 2016 Republican nominating fight will go a long way toward determining whether Paul is the modern version of Barry Goldwater or at the leading edge of a new, more libertarian brand of Republicanism.

“That’s the big challenge—is America ready? I think that Rand and his small-L libertarian Republicanism can break through,” said Paul’s longtime adviser Jesse Benton. “He’s a fundamentally better messenger than Barry Goldwater—[Goldwater's 1964 campaign slogan] ‘In your heart you know he’s right’ is not very compelling. Rand is a wonderful communicator, and I think a message of individual liberty can build wide support.”

Either way, Paul’s brand of politics is a distinct departure from the party’s traditional moorings. His occasional sympathy for Edward Snowden puts him on an island within the party. His critique of the National Security Agency’s domestic surveillance techniques and noninterventionist views on foreign policy are gaining some conservative followers, but are still outside the party mainstream. Many conservative foreign policy hawks could sooner support Clinton than Paul in a 2016 matchup.

And he’s got a history of questionable associations and controversial comments that would make Democratic opposition researchers salivate. Whether it’s hiring a top aide who was a former secessionist talk-show host (and defending him amid controversy), questioning the legality of the 1964 Civil Rights Act during his Senate campaign, or facing allegations of plagiarism from past speeches, Paul’s got plenty of controversies poised to reemerge in a presidential campaign. Paul’s invocation of Bill Clinton’s affair with Monica Lewinsky to attack Hillary Clinton in recent weeks is classic Paul—throw red meat into the fire to energize the base, regardless of the political consequences.

At the same time, Paul has been doing more than almost any other Republican to expand the party’s appeal to nontraditional GOP voters—the type of activity that’s imperative for future success. He spoke at Howard University and historically black Simmons College in Kentucky (twice) as part of an outreach effort toward African-Americans. His Jack Kemp-like pitch for “economic freedom zones” has even drawn the interest of the NAACP, which invited him to speak. He’s been leading the call for reforming drug sentencing, an issue that’s won support from many young voters and minorities who disproportionately bear the burden of current zero-tolerance policy. This week, at a Missouri Republican Party banquet, he said the party needs “a more diverse party—with tattoos and without tattoos.”

Meanwhile, the politics of the 2016 Republican nomination look increasingly favorable to Paul. He is one of the top fundraisers in the field, has a ready-made base of support from his father’s presidential networks, and has proven his savvy political instincts with a made-for-TV drone filibuster and NSA lawsuit. The newly compressed Republican presidential calendar should benefit a Paul candidacy, since he’s got the grassroots support to play in the small states and the money to fight forward in the big media-market states that follow.

Paul’s mutually beneficial alliance with Senate Minority Leader Mitch McConnell, who faces reelection this year, is a prime example of his political foresight. McConnell has helped him build chits with the establishment, including donors skeptical of his national viability. McConnell, meanwhile, has gotten tea-party validation to get him through a contested primary against businessman Matt Bevin. He’s also benefited from Paul’s swipes at former President Clinton, who is emerging as an important surrogate for McConnell’s Democratic challenger, Alison Lundergan Grimes. McConnell, if he survives the general election, could become the next majority leader. But Paul, in taming the establishment skepticism toward him, could end up with the bigger prize.

“He is the Republican front-runner,” said Republican strategist Scott Jennings, who served as deputy political director in the George W. Bush administration and is now running a pro-McConnell super PAC in Kentucky. “The political instinct of when to do things is not something you teach—you either have it or you don’t. He’s got a knack for finding populist issues showing why the government is stupid, and people like it.”

http://www.nationaljournal.com/against-the-grain/rand-paul-is-the-gop-s-early-presidential-front-runner-20140225

Rand Paul

Randal Howard “Rand” Paul (born January 7, 1963) is the junior United States Senator for Kentucky. He is a member of theRepublican Party and the son of former U.S. Representative and presidential candidate Ron Paul of Texas. He first received national attention in 2008 when making political speeches on behalf of his father, who was campaigning for the Republican Party’s nomination for president. During his father’s final term in the house, he was the first United States senator to have served simultaneously with a parent in the United States House of Representatives.

A graduate of the Duke University School of Medicine, Paul began practicing ophthalmology in Bowling GreenKentucky in 1993 and established his own clinic in December 2007. He remained active in politics and founded Kentucky Taxpayers United in 1994, of which he is still chairman.[2]

In 2010, Paul ran as the Republican candidate for the United States Senate seat being vacated by retiring Senator Jim Bunning of Kentucky, defeating Kentucky Secretary of State Trey Grayson in the primary. He subsequently defeated Kentucky Attorney GeneralJack Conway in the general election. A member of the Tea Party movement, he supports term limits, a balanced budget amendment, the Read the Bills Act, and widespread reduction in federal spending and taxation. Unlike his more stridently isolationist, or “non-interventionist“, father, Paul concedes a role for American armed forces abroad, including permanent foreign military bases.[3][4] He has garnered attention for his positions, often clashing with both Republicans and Democrats.[5]

Rand Paul

From Wikipedia, the free encyclopedia
Not to be confused with Paul Rand.
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Rand Paul
Rand Paul, official portrait, 112th Congress alternate.jpg
Paul in January 2011
United States Senator
from Kentucky
Incumbent
Assumed office
January 3, 2011
Serving with Mitch McConnell
Preceded by Jim Bunning
Personal details
Born Randal Howard Paul
January 7, 1963 (age 51)
Pittsburgh, Pennsylvania, U.S.
Political party Republican
Spouse(s) Kelley Ashby Paul (m. 1990)
Relations Ron Paul (father)
Carol Wells Paul (mother)
Children William
Robert
Duncan
Residence Bowling Green, Kentucky
Alma mater Baylor University
Duke University (M.D.)
Occupation Ophthalmologist
Religion Presbyterian[1]
(baptized Episcopalian)
Website Senator Rand Paul

Randal Howard “Rand” Paul (born January 7, 1963) is the junior United States Senator for Kentucky. He is a member of theRepublican Party and the son of former U.S. Representative and presidential candidate Ron Paul of Texas. He first received national attention in 2008 when making political speeches on behalf of his father, who was campaigning for the Republican Party’s nomination for president. During his father’s final term in the house, he was the first United States senator to have served simultaneously with a parent in the United States House of Representatives.

A graduate of the Duke University School of Medicine, Paul began practicing ophthalmology in Bowling GreenKentucky in 1993 and established his own clinic in December 2007. He remained active in politics and founded Kentucky Taxpayers United in 1994, of which he is still chairman.[2]

In 2010, Paul ran as the Republican candidate for the United States Senate seat being vacated by retiring Senator Jim Bunning of Kentucky, defeating Kentucky Secretary of State Trey Grayson in the primary. He subsequently defeated Kentucky Attorney GeneralJack Conway in the general election. A member of the Tea Party movement, he supports term limits, a balanced budget amendment, the Read the Bills Act, and widespread reduction in federal spending and taxation. Unlike his more stridently isolationist, or “non-interventionist“, father, Paul concedes a role for American armed forces abroad, including permanent foreign military bases.[3][4] He has garnered attention for his positions, often clashing with both Republicans and Democrats.[5]

Early life and education

Randal Howard Paul[6] was born on January 7, 1963, in PittsburghPennsylvania, to Carol (née Wells) and Ron Paul. His father is a physician and former U.S. Representative of Texas’ 14th congressional district. The middle child of five, his siblings are Ronald “Ronnie” Paul Jr., Lori Paul Pyeatt, Robert Paul and Joy Paul-LeBlanc.[7] Paul was baptized in the Episcopal Church[8] and identified as a practicing Christian as a teenager.[9] Despite his father’s libertarian views and strong support for individual rights,[9][10] the novelistAyn Rand was not the inspiration for his first name. Growing up, he went by “Randy”,[11] but his wife shortened it to “Rand.”[9][12][13]

The Paul family moved to Lake Jackson, Texas, in 1968,[11][14] where he was raised[15][16] and where his father began a medical practice and for an extent of time was the onlyobstetrician in Brazoria County.[11][14] When he was 13, his father was elected to the United States House of Representatives.[17] The younger Paul often spent summer vacations interning in his father’s congressional office.[18] In his teenage years, Paul studied the Austrian economists that his father respected, as well as the writings of Objectivistphilosopher Ayn Rand.[11] Paul went to Brazoswood High School and was on the swimming team and played defensive back on the football team.[9][15] Paul attended Baylor University from fall 1981 to summer 1984. He was enrolled in the honors program at Baylor, and had scored approximately in the 90th percentile on the Medical College Admission Test.[19] During the time he spent at Baylor, he was involved in the swim team and Young Conservatives of Texas and was a member of a secret organization known as the NoZe Brotherhood.[20] Paul left Baylor early when he was accepted into the Duke University School of Medicine, where he earned an M.D. in 1988, and completed his residency in 1993.[19]

Medical career

Paul has held a state-issued medical license since moving to Bowling Green in 1993.[21] He received his first job from Dr. John Downing of Downing McPeak Vision Centers, which brought him to Bowling Green after completing his residency. Paul worked for Downing for about five years before parting ways. Afterwards, he went to work at the Gilbert Graves Clinic, a private medical group in Bowling Green, for 10 years before creating his own practice in a converted one-story house across the street from Downing’s office.[22] After his election to the U.S. Senate, he merged his practice with Downing’s medical practice.[23] Paul has faced two malpractice lawsuits between 1993 and 2010; he was cleared in one case while the other was settled for $50,000.[22] Regardless, his medical work has been praised by Downing and he has medical privileges at two Bowling Green hospitals.[21][22]Paul specializes in cataract and glaucoma surgeries, LASIK procedures, and corneal transplants.[12] As a member of the Bowling Green Noon Lions Club, Paul founded the Southern Kentucky Lions Eye Clinic to help provide eye surgery and exams for those who cannot afford to pay.[24]

National Board of Ophthalmology

In 1995, Paul passed the American Board of Ophthalmology (ABO) boards on his first attempt and earned board-certification under the ABO for 10 years. In 1997, to protest the ABO’s 1992 decision to grandfather in older ophthalmologists and not require them to be recertified every 10 years in order to maintain their status as board-certified practitioners, Paul, along with 200 other ophthalmologists formed the National Board of Ophthalmology (NBO) to offer an alternative ophthalmology certification system.[25][26] The NBO was incorporated in 1999, but he allowed it to be dissolved in 2000 after not filing the required paperwork with the Kentucky Secretary of State‘s office. Paul later recreated the board in September 2005, three months before his original 10-year certification from the ABO lapsed. His ABO certification lapsed on December 31, 2005. Paul has since been certified by the NBO,[21] with himself as the organization’s president, his wife as vice-president, and his father-in-law as secretary.[27] The ophthalmology board is not officially recognized by the American Board of Medical Specialties (ABMS).[21] The NBO was again dissolved on September 10, 2011.[28]

Political activism

Paul served as the head of the local chapter of the Young Conservatives of Texas during his time at Baylor University. While attending Duke Medical School, Paul volunteered for his father’s 1988 Libertarian presidential campaign. In response to President Bush breaking his election promise to not raise taxes, Paul founded the North Carolina Taxpayers Union in 1991.[18] In 1994, Paul founded the anti-tax organization Kentucky Taxpayers United (KTU), serving as chair of the organization from its inception. He has often cited his involvement with KTU as the foundation of his involvement with state politics.[29] Described as “ideological and conservative” by the Lexington Herald-Leader, the group considered itselfnonpartisan,[30][31] examining Kentucky legislators’ records on taxation and spending and encouraging politicians to publicly pledge to vote uniformly against tax increases.[32][33]

The Wall Street Journal reported in 2010 that although Paul had told a Kentucky television audience as recently as September 2009 that KTU published ratings each year on state legislators’ tax positions and that “we’ve done that for about 15 years”, the group had stopped issuing its ratings and report cards after 2002 and had been legally dissolved by the state in 2000 after failing to file registration documents.[29]

Paul spoke on his father’s behalf when his father was campaigning for office,[34] including throughout the elder Paul’s run in the 2008 presidential election, during which Rand campaigned door-to-door in New Hampshire[35] and spoke in Boston at a fundraising rally for his father on the anniversary of the 234th anniversary of the Boston Tea Party.[36]

In February 2014, Paul joined the Tea Party-affiliated conservative advocacy group FreedomWorks in filing a class-action lawsuit charging that the US government’s bulk collection of Americans’ phone records metadata is a violation of the Fourth Amendment of the US Constitution.[37][38][39] Commenting on the lawsuit at a press conference, Paul said, “I’m not against the NSA, I’m not against spying, I’m not against looking at phone records…. I just want you to go to a judge, have an individual’s name and [get] a warrant. That’s what the Fourth Amendment says.”[37] He also said there was no evidence the surveillance of phone metadata had stopped terrorism.[37] Critics, including Harvard University law professor Alan Dershowitz[40] and Steven Aftergood, the director of the American Scientists’ Project on Government Secrecy,[39] called the lawsuit a political “stunt”. Paul’s political campaign organization said that the names of members of the public who went to Paul’s websites and signed on as potential class-action participants would be available in the organization’s database for future campaign use.[37][41] On the announcement of the filing of the lawsuit, Mattie Fein, the spokeswoman for and former wife of attorney Bruce Fein, complained that Fein’s intellectual contribution to the lawsuit had been stolen and that he had not been properly paid for his work.[42] Paul’s representatives denied the charge, and Fein issued a statement saying that Mattie Fein had not been authorized to speak for him on the matter and that he had in fact been paid for his work on the lawsuit.[42]

Paul is co-author of a book entitled The Tea Party Goes to Washington (2011) with Jack Hunter, also known as the “Southern Avenger.”[43][44] Paul is also the author ofGovernment Bullies: How Everyday Americans Are Being Harassed, Abused, and Imprisoned by the Feds (2012).[45]

Paul was included in Time magazine’s world’s most influential people, for 2013.[46]

Electoral history

Primary campaign

Then-U.S. Senate candidate Rand Paul speaking with a supporter at a healthcare rally in Louisville, Kentucky in November 2009

At the beginning of 2009, there was an online grassroots movement to draft Paul in a bid to replace beleaguered Republican Kentucky senator Jim Bunning. The news of Paul’s potential candidacy became a topic of national interest and was discussed in the Los Angeles Times[47] and locally in the Kentucky press.[48] Paul’s father remarked, “Should Senator Bunning decide not to run, I think Rand would make a great U.S. Senator.”[49]

On May 1, 2009, Paul officially confirmed that if Bunning, whose fundraising in 2009 matched his poor numbers in opinion polling for the 2010 election,[50] declined to seek a third term, he would almost certainly run in the Republican Party primary to succeed him,[51] and formed an exploratory committee soon after, while still promising to stay out of the race if Bunning ultimately decided to run for reelection. Paul made this announcement on MSNBC’s The Rachel Maddow Show, though a Kentucky news site first broke the news.[52]

On July 28, 2009, Bunning announced that he would not run for reelection in the face of insufficient fundraising. The announcement left only Paul and Secretary of State Trey Grayson as the remaining candidates for the Republican nomination,[53] with Paul announcing on August 5, 2009 that he would officially run for the U.S. Senate as a Republican. The announcement was made through a series of national TV events, radio, and other programs, as well as newspapers in Kentucky.[54][55][56]

Early fundraising success

On August 20, 2009, Paul’s supporters planned a moneybomb to kick off his campaign. The official campaign took in $433,509 in 24 hours. His website reported that this set a new record in Kentucky’s political fundraising history in a 24-hour period.[57]

A second “moneybomb” was held on September 23, 2009, to counter a D.C. fundraiser being held for primary opponent Trey Grayson, by 23 Republican United States Senators, 17 of whom voted for the bank bailout.[58] The theme was a UFC “fight” between Paul and “We the People” vs. Trey Grayson and the “D.C. Insiders”.[59] The money bomb ended up raising $186,276 for Paul in 24 hours on September 23;[60] bringing Paul’s Senate campaign’s total raised to over one million. Later in the campaign, Paul claimed his pledge to not take money from lobbyists and Senators who had voted for the bailout was only a “primary pledge”;[61] he subsequently held a DC fundraiser with the same Senators who had been the target of the September 23, 2009 “moneybomb”. Paul ended up raising some $3 million during the primary period.

Primary victory

Then-U.S. Senate candidate Rand Paul with then-Senator Jim Bunning at a rally inHebron, Kentucky in November 2010

Although Grayson was considered the frontrunner in July 2009,[62] Paul found success characterizing Grayson as a “career politician” and challenging Grayson’s conservatism. Paul ran an ad in February that made an issue out of Grayson’s September 2008 admission that he voted for Bill Clinton when he was 20 years old.[63] James Dobson, a Christian evangelical figure, endorsed Grayson on April 26 based on the advice of what Dobson described as “senior members of the GOP”, but on May 3 the Paul campaign announced that Dobson had changed his endorsement to Paul[64] after Paul and some Paul supporters had lobbied Dobson insisting on Paul’s social conservative bona fides.[65]

On May 18, Paul won the Republican Senatorial primary by a 23.4% margin,[66] meaning he would face the Kentucky Attorney GeneralJack Conway, in the November 2 general election.[67]

General campaign

In the 2010 general election, Paul faced Kentucky Attorney General Jack Conway. The campaign attracted $8.5 million in contributions from outside groups, of which $6 million was spent to help Paul and $2.5 million to help Conway. This money influx was in addition to the money spent by the candidates themselves: $6 million by Paul and $4.7 million by Conway.[68][69] On June 28, 2010, Paul supporters held their first post-primary online fundraising drive, this time promoted as a “money blast”.[70][71]

Paul’s campaign got off to a rough start after his comments on the Civil Rights Act of 1964 stirred controversy.[72] Paul stated that he favored 9 out of 10 titles of the Civil Rights Act of 1964, but that had he been a senator during the 1960s, he would have raised some questions on the constitutionality of Title II of the Act.[73] Paul said that he abhors racism, and that he would have marched with Martin Luther King Jr. to repeal Jim Crow Laws. He later released a statement declaring that he would have voted for the Act and stated “unequivocally … that I will not support any efforts to repeal the Civil Rights Act of 1964″.[74][75] Later he generated more controversy by characterizing statements made by Obama Administration officials regarding the BP oil spill cleanup as sounding “un-American”.[76]

U.S. Senate career

Tenure

112th Congress (2011-13)

Rand Paul being sworn in as a senator by Vice President Joe Biden, along with his family, in the Old Senate Chamber in theUnited States Capitol building

Paul was sworn in on January 5, 2011 along with his father, marking the first time in congressional history that someone served in the Senate while their parent simultaneously served in the House of Representatives.[77] He was assigned to serve on the Energy and Natural ResourcesHealth, Education, Labor and PensionsHomeland Security and Government Affairs, and Small Businesscommittees.[78] Paul also formed the Senate Tea Party Caucus with Jim DeMint and Mike Lee as its inaugural members.[79] His first legislative proposal was to cut $500 billion from federal spending in one year. This proposal included cutting the Department of Educationby 83 percent and the Department of Homeland Security by 43 percent, as well as folding the Department of Energy into the Department of Defense and eliminating the Department of Housing and Urban Development. Seven independent agencies would be eliminated and food stamps would be cut by 30 percent. Under Paul’s proposal, defense spending would be reduced by 6.5 percent and international aidwould be eliminated.[80] He later proposed a five-year budget plan intended to balance the budget.[81]

In February, Paul was one of two Republicans to vote against extending three key provisions of the USA PATRIOT Act (roving wiretaps, searches of business records, and conducting surveillance of “lone wolves”—individuals not linked to terrorist groups).[82] In May, he remained the last senator opposing the PATRIOT Act, and was ultimately defeated on May 26.[83]

On March 2, Paul was one of nine senators to vote against a stopgap bill that cut $4 billion from the budget and temporarily prevent agovernment shutdown, citing that it did not cut enough from the budget.[84] One week later, he voted against the Democratic and Republican budget proposals to keep funding the federal government, citing that both bills did not cut enough spending. Both bills failed to pass the Senate.[85] He later voted against stopgap measures on March 17 and April 8, both of which passed the senate.[86] On April 14, He was one of 19 senators to vote against a budget that cut $38.5 billion from the budget and fund the government for the remainder of the fiscal year.[87] Paul voiced opposition to U.S. intervention in the Libyan civil war and has criticized President Obama for not gaining congressional consent forOperation Odyssey Dawn.[88] During the debt ceiling crisis, the Senator stated that he would only support raising the debt ceiling if a balanced budget amendment was enacted.[89]Paul was a supporter of the Cut, Cap and Balance Act, which was tabled by Democratic opposition.[90] On August 3, Paul voted against a bill that would raise the debt ceiling.[91]

On September 7, Paul called for a vote of no confidence in U.S. Treasury Secretary Timothy Geithner.[92] Later that month, Paul blocked legislation that would strengthen safety rules for oil and gas pipelines because he stated the bill was not strong enough.[93] In October, Paul blocked a bill that would provide $36 million in benefits for elderly and disabled refugees, saying that he was concerned that it could be used to aid domestic terrorists. This was in response to two alleged terrorists, who came to the United States through a refugee program and were receiving welfare benefits, were arrested in 2011 in Paul’s hometown of Bowling Green.[94] Paul lifted his hold on the bill after Democratic leaders promised to hold a Congressional hearing into how individuals are selected for refugee status and request an investigation on how the two suspects were admitted in the country through a refugee program.[95]

113th Congress (2013-15)

For the 113th Congress, Paul was added to the Foreign Relations committee and retained his spot on the Health, Education, Labor and Pensions, Homeland Security and Government Affairs, and Small Business committees.[96]

On March 6–7, 2013, Paul engaged in a talking filibuster to delay voting on the nomination of John O. Brennan as the Director of the CIA. Paul questioned the Obama administration’s use of drones and the stated legal justification for their potential use within the United States.

Rand Paul speaking during his filibuster

Paul held the floor for 12 hours and 52 minutes.[97] He ceded to several Republican senators and Democratic senator, Ron Wyden, who generally also questioned drone usage.[98][99] Paul noted his purpose was to challenge drone policy in general and specifically as it related to noncombatants on U.S. soil. He requested a pledge from the Administration that noncombatants would not be targeted on U.S. soil.[100] Attorney General Eric Holder responded that the President is not authorized to deploy extrajudicial punishment without due process, against non combatant citizens. Paul answered that he was “quite happy” with the response.[101] The filibuster was ended with a cloture vote of 81 to 16, and Brennan was confirmed by the Senate with a vote of 63 to 34.[102]

In March 2013, Paul, with Senators Ted Cruz and Mike Lee, threatened another filibuster, this one opposing any legislative proposals to expand federal gun control measures.[103] The filibuster was attempted on April 11, 2013, but was dismissed by cloture, in a 68–31 vote.[104]

Also in March 2013, Paul endorsed fellow Kentucky Republican Senator Mitch McConnell‘s 2014 re-election campaign.[105] McConnell had previously hired Paul’s 2010 campaign manager, Jesse Benton, as his own campaign manager.[106] Paul’s endorsement was seen as a major win for McConnell in avoiding a challenge in the Republican primary.[105] In August 2013, a phone call was released to the public in which Benton said that he was “holding his nose” in supporting McConnell in order to help a potential Rand Paul presidential candidacy.[107]

In response to Detroit’s declaration of bankruptcy, Paul stated he would not allow the government to attempt to bail out Detroit. In a phone interview with Breitbart.com on July 19, 2013, Paul said, “I basically say he is bailing them out over my dead body because we don’t have any money in Washington.” Paul said he thought a federal bailout would send the wrong message to other cities with financial problems.[108] In September, Paul stated that the United States should avoid military intervention in the ongoing Syrian civil war.[109] In an op-ed, Paul disputed the Obama administration’s claims that the threat of military force caused Syria’s government to consider turning over its chemical weapons, instead arguing that the opposition to military action in Syria, and the delay that it caused, led to diplomatic progress.[110]

In October 2013, Paul was the subject of some controversy when it was discovered that he had plagiarized from Wikipedia part of a speech in support of Virginia gubernatorial candidate Ken Cuccinelli. Referencing the movie Gattaca, Paul quoted almost verbatim from the Wikipedia article about the film without citing the source.[111][112][113] Evidence soon surfaced that Paul had copied passages in a number of his other speeches and published works nearly verbatim from other authors without giving credit to the original sources,[114][115] including in the speech he had given as the Tea Party rebuttal to the president’s 2013 State of the Union address and in a three-page-long passage of Paul’s bookGovernment Bullies, which was taken directly from an article by the conservative think thank The Heritage Foundation.[116][117] When it became apparent that an op-ed article Paul had published in the Washington Times and testimony he had given before the Senate Judiciary Committee both contained material that was virtually identical to an article that had been published by another author in The Week a few days earlier,[118] the Washington Times said that the newspaper would no longer publish the weekly column Paul had been contributing to the paper.[119] After a week of almost daily news reports of new allegations of plagiarism, Paul said that he was being held to an “unfair standard”, but would restructure his office in order to prevent mistakes in the future, if that would be what it would take “to make people leave me the hell alone”.[120]

Committee assignments

Current
Previous

Political positions

A member of the Tea Party movement,[121][122] Paul has described himself as a “constitutional conservative”[123] and a libertarian.[124] The National Journal rated him the sixth most conservative senator based on votes cast in 2012.[125]

He supports term limits, a balanced budget amendment, and the Read the Bills Act, in addition to the widespread reduction of federal spending and taxation.[5] Unlike his more stridently “non-interventionist” father, Paul concedes a role for American armed forces abroad, including permanent foreign military bases.[126]

Paul describes himself as “100% pro life”.[127] Paul opposes abortion even in cases of rape or incest.[128] He has been a sponsor or co-sponsor of several legislative measures to effectively ban all abortions, except possibly in cases in which the mother’s life is at risk.[128] He believes legal personhood begins at fertilization.[129][130][131]

He opposes same-sex marriage, but believes the issue should be left to the states to decide.[132][133] He has argued that Congress’ political position is “ten years behind the American public.”.[134]

He has criticized mandatory minimums that have led to unreasonably harsh sentences for repeated offenders. He has highlighted the case of Timothy L. Tyler as particularly unfair.[135]

Rand Paul speaking at the 2013Conservative Political Action Conference(CPAC) in National Harbor, Maryland on March 14, 2013

In a January 2013 interview, he spoke of a possible 2016 presidential candidacy. While not promising a run, he stated the decision would be made within the next two years. He also indicated his intention to shape GOP politics regardless of a run.[136]

He delivered the Tea Party response to President Barack Obama’s State of the Union address on February 13, 2013,[137] while Marco Rubio gave the official Republican response. This prompted some pundits to call that date the start of the 2016 Republican primaries.[138]

He spoke at the annual Conservative Political Action Conference in Washington D.C. on March 14, 2013.[139] Two days later he won the 2013 CPAC straw poll with 25% of the votes cast.[140] At a Christian Science Monitor sponsored breakfast on April 17, 2013, he reaffirmed that he was considering a 2016 run for the presidency and said no decision would be made before 2014.[141]

He won the Pennsylvania Leadership Conference poll, held April 19–20, 2013, with 39% [142] and the Tennessee Republican Assembly straw poll, also held on April 20, with 58%.[143] His 2013 itinerary reportedly included trips through several early primary states.[144]

Personal life

Paul is married to Kelley (née Ashby) Paul. They live in Bowling Green, Kentucky, where she is a freelance writer and manages payroll and marketing communications for his ophthalmology practice.[145] They have three sons: William, Duncan and Robert. Paul wears hearing aids in both ears

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Will Governor Jerry Brown Challenge Hillary Clinton for Democratic Party Nomination For President in 2016? — Videos

Posted on February 27, 2014. Filed under: American History, Banking, Blogroll, Communications, Constitution, Economics, Employment, Faith, Federal Government, Federal Government Budget, Fiscal Policy, Freedom, government, government spending, history, Investments, Language, Law, liberty, Life, Links, Macroeconomics, media, Microeconomics, Monetary Policy, Money, People, Philosophy, Politics, Press, Private Sector, Public Sector, Radio, Rants, Raves, Security, Talk Radio, Tax Policy, Taxes, Unemployment, Unions, Video, War, Water, Wealth, Wisdom, Writing | Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , |

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Story 1: Will Governor Jerry Brown Challenge Hillary Clinton for Democratic Party Nomination For President?- Videos

Jerry Brown declares California drought emergency

Water wars: California drought spawns political fight

Gov. Jerry Brown Delivers 2014 State Of The State Address

Calif. Gov. Jerry Brown Nixes 2016 Presidential Bid

Keynote Address: Gov. Jerry Brown

Jerry Brown for President?

Gov Jerry Brown 14-15 Budget Press Conference

John King, USA : CNN: Jerry Brown running on experience

CA Gov. Jerry Brown interview- media in politics (Merv Griffin Show 1981)

BAY AREA FLASHBACK – Jerry Brown Presidential Campaign (1976)

Brown rules out presidential bid

By Seema Mehta

Gov. Jerry Brown said Tuesday that he will not run for president in 2016, dashing political speculation that he might make a fourth bid for the White House.

“No, that’s not in the cards. Unfortunately,” he told reporters at a news conference before brightening about his current job: “Actually, California is a lot more governable.”

Brown, who ran for president in 1976, 1980 and 1992, was the subject of some speculation recently when his office did not categorically rule out another run, the governor was touting his work in California as a template for the nation and some activists named him as an alternative to former U.S. Secretary of State Hillary Clinton, who is weighing a bid.

Brown was in Riverside to discuss prisons, education and water policy with local officials, part of a two-day, three-city trip to inland portions of the state. He visited Bakersfield on Tuesday morning and Fresno on Monday. Last week, he unveiled his budget in Sacramento, San Diego and Los Angeles.

Brown is up for reelection this year and has raised millions for a bid. But he has been coy about his intentions.

Asked about the purpose of his travel schedule, Brown declared Bakersfield a “wonderful place,” said politics did not interest him and continued to demur about his intentions.

“We have time,” he said. “I’m not running yet.”

http://www.latimes.com/local/political/la-pc-brown-rules-out-presidential-bid-20140114,0,869179.story#ixzz2uIGedGZa

Jerry Brown breaks some hearts: won’t run for president in 2016

California Gov. Jerry Brown will not run for president in 2016, he said Tuesday.

The Los Angeles Times reported that Governor Moonbeam put to rest speculation that he might launch his fourth bid for president, 40 years after he first sought the Democratic nomination in 1976.

“No, that’s not in the cards. Unfortunately,” he said.

Brown raised eyebrows last month when he declined to outright deny interest in a bid. He has touted his efforts to deal with California’s economic woes as a model for the whole country, which some took as an indication that he was seeking a national stage.

“Things happen in California that are not happening in Washington,” Brown in October, the Los Angeles Times reported. “We can do a lot of things in California to shift the [political] climate throughout the whole country.”

But Brown quashed any hopes that he might wade into the mire of politics in Washington, D.C.

“Actually,” he told reporters, “California is a lot more governable.”

This would have been Brown’s fourth try for the Democratic presidential nomination. In 1992 he mounted a strong but ultimately unsuccessful run against Bill Clinton, winning support from The New York Times and other major publications for his flat tax proposal. Brown lost the nomination to Jimmy Carter in 1976 and 1980, during his first tenure as governor of the Golden State. His 1980 campaign prompted the Dead Kennedys to warn that Brown would create a “Zen Fascist” dictatorship in which kids would be forced to “meditate in school,” in their punk classic “California Über Alles.”

http://dailycaller.com/2014/01/15/jerry-brown-breaks-some-hearts-wont-run-for-president-in-2016/

Jerry Brown, urged to run for president, won’t rule out 2016 bid

|By Mark Z. Barabak

If he weren’t the nation’s oldest governor, a ripe 75, Jerry Brown would automatically be counted among serious Democratic candidates for president in 2016.

He boasts a household name, an impressive list of accomplishments in the country’s most populous state — a state some once deemed ungovernable — glowing national media coverage and a deep familiarity with the pitfalls and rigors of a White House bid, having run three times before.

Now, some are pushing Brown to consider another try for the White House, even if it means taking on Hillary Rodham Clinton, the prohibitive, if still undeclared, Democratic favorite.

“I think Jerry is precisely what America needs,” said Rose Ann DeMoro, the leader of a national nurses union and a strong political ally of Brown. “He has the courage of his convictions, which we haven’t seen in a very long while.”

Brown, who is up for reelection in 2014, has not yet stated his intention to seek another term, though he has raised millions of dollars for what would appear to be an easy campaign.

Asked if Brown would categorically rule out another presidential bid in 2016, a spokesman, Jim Evans, referred to a statement Brown made in May at a California Chamber of Commerce breakfast. Citing his past primary victories, Brown said “time is kind of running out on that.”

“I guess I’ll just have to stay and do the work of being the governor, which I actually enjoy because I have some perspective that I didn’t used to have,” Brown said.

The famously Delphic governor often leaves people guessing about his motivation and intentions, which leaves plenty of leeway ahead of 2016. Absent a clear-cut statement of disinterest from Brown — who sought the White House in 1976, 1980 and 1992 — some see familiar signs of a presidential-candidate-in-waiting.

The governor has widely touted California’s comeback and his record as a model for the rest of the country and, especially, a dysfunctional Washington, D.C. With support from an overwhelmingly Democratic legislature — and a combination of spending cuts and voter-approved tax hikes — Brown has brought the state’s deficit-ridden budget under control, overhauled the education finance system to benefit poorer students, pushed through major environmental initiatives and reaped the benefits — job growth, an improved housing market — of a slow but steady economic recovery.

“Things happen in California that are not happening in Washington,” Brown said during an October appearance at an electric-vehicle expo in San Francisco. “We can do a lot of things in California to shift the [political] climate throughout the whole country.”

In a victory lap a few weeks later, he traveled to the nation’s capital and ticked off the bills he had signed, including immigration-friendly legislation and laws promoting green energy. “We didn’t wait for the federal government,” he crowed.

At the same time, Brown has established himself as a moderating force in Sacramento, pushing back against liberals on issues such as gun control and business regulation, which, to some, suggests an effort to shed the kooky Left Coast image of his first time as governor, more than 20 years ago, and craft a more centrist profile ahead of 2016.

Edmund Gerald “Jerry” Brown, Jr. (born April 7, 1938) is an American politician who currently serves as the 39th Governor of California since 2011; he previously served as California’s 34th Governor[3] from 1975 to 1983. Both before and after his original two terms as Governor, Brown served in numerous state, local, and party positions. He was a member of the Los Angeles Community College District Board of Trustees (1969–1971), Secretary of State of California (1971–1975), chairman of the California Democratic Party (1989–1991), Mayor of Oakland (1999–2007) and Attorney General of California (2007–2011).

Brown sought the Democratic nominations for President of the United States in 19761980, and 1992, and was the Democratic candidate for the United States Senate in California in 1982, but was unsuccessful in those attempts. He is the son of Pat Brown, the 32nd Governor of California. On October 7, 2013, he became the longest-serving governor in California history measured by cumulative service.

As a consequence of the 28-year gap between his second and third terms, Brown has been both the sixth-youngest California governor(and the youngest since the 1860s) and the oldest California governor in history.

Early life, education, and career

Brown was born in San Francisco, California, as the only son of four siblings born to Bernice Layne Brown, and District Attorney of San Francisco and later Governor of California, Edmund Gerald “Pat” Brown, Sr.[4] His father was of half Irish and half German descent.[5]He was a member of the California Cadet Corps at St. Ignatius High School, where he graduated in 1955.[citation needed]

In 1955, Brown entered Santa Clara University for a year, and left to attend Sacred Heart Novitiate, a Jesuit seminary, intent on becoming a Catholic priest. Brown left the seminary after three years,[6] enrolling at the University of California, Berkeley in 1960, where he graduated with a Bachelor of Arts in 1961. Brown went on to Yale Law School and graduated with a Juris Doctor in 1964.[4] After law school, Brown worked as a law clerk for California Supreme Court Justice Mathew Tobriner.

Returning to California, Brown took the state bar exam and passed on his second attempt.[7] Brown then settled in Los Angeles and joined the law firm of Tuttle & Taylor. In 1969, Brown ran for the newly created Los Angeles Community College Board of Trustees, which oversaw community colleges in the city, and placed first in a field of 124.[8]

Secretary of State (1971–1975)

In 1970, Brown was elected California Secretary of State. Brown argued before the California Supreme Court and won cases againstStandard Oil of CaliforniaInternational Telephone and TelegraphGulf Oil, and Mobil for election law violations.[8] In addition, he forced legislators to comply with campaign disclosure laws. While holding this office, he discovered the use of falsely notarized documents to earn a tax deduction by then-President Richard Nixon. Brown also drafted and helped to pass the California Political Reform Act of 1974, Proposition 9, passed by 70% of California’s voters in June, 1974. Among other provisions, it established the California Fair Political Practices Commission.

Governor of California (1975–1983)

First term

California Chief Justice Donald Wright (left) swearing in Brown as Governor of California on January 6, 1975

In 1974, Brown ran in a highly contested Democratic primary for Governor of California against Speaker of the California Assembly Bob Moretti, San Francisco Mayor Joseph L. Alioto, Representative Jerome R. Waldie, and others. Brown won the primary with the name recognition of his father, Pat Brown, whom many people admired for his progressive administration.[9] In the General Election on November 5, 1974, Brown was elected Governor of California over California State Controller Houston I. Flournoy; Republicans ascribed the loss to anti-Republican feelings from Watergate, the election being held only ninety days after President Richard Nixon resigned from office. Brown succeeded Republican Governor Ronald Reagan, who had planned on retiring from office after serving two terms.

After taking office, Brown gained a reputation as a fiscal conservative.[10] The American Conservative later noted he was “much more of a fiscal conservative than Governor Reagan.”[11] His fiscal restraint resulted in one of the biggest budget surpluses in state history, roughly $5 billion.[12][13] For his personal life, Brown refused many of the privileges and perks of the office, forgoing the newly constructed governor’s residence and instead renting a modest apartment at the corner of 14th and N Streets, adjacent to Capitol Park in downtown Sacramento.[14] Instead of riding as a passenger in a chauffeured limousine as previous governors had done, Brown walked to work and drove in a Plymouth Satellite sedan.[15][16]

As governor, Brown held a strong interest in environmental issues. He appointed J. Baldwin to work in the newly created California Office of Appropriate Technology, Sim Van der Ryn as State Architect, Stewart Brand as Special Advisor, John Bryson as chairman of the California State Water Board. Brown also reorganized the California Arts Council, boosting its funding by 1300 percent and appointing artists to the council[8] and appointed more women and minorities to office than any other previous California Governor.[8] In 1977, he sponsored the “first-ever tax incentive for rooftop solar” among many environmental initiatives.[17] In 1975, Brown obtained the repeal of the “depletion allowance“, a tax break for the state’s oil industry, despite the efforts of lobbyist Joe Shell, a former intraparty rival to Richard M. Nixon.[18]

Like his father, Brown strongly opposed the death penalty and vetoed it as Governor, which the legislature overrode in 1977. He also appointed judges who opposed capital punishment. One of these appointments, Rose Bird as the Chief Justice of the California Supreme Court, was recalled by voters after a strong campaign financed by business interests upset by her “pro-labor” and “pro-free speech” rulings. The death penalty was only “a trumped-up excuse”[19] to use against her, even though the Bird Court consistently upheld the constitutionality of the death penalty.[20] In 1960, he lobbied his father, then Governor, to spare the life of Caryl Chessman and reportedly won a 60-day stay for him.[21][22]

Brown was both in favor of a Balanced Budget Amendment and opposed to Proposition 13, the latter of which would decrease property taxes and greatly reduce revenue to cities and counties.[23] When Proposition 13 passed in June 1978, he heavily cut state spending, and along with the Legislature, spent much of the $5 billion surplus to meet the proposition’s requirements and help offset the revenue losses which made cities, counties, and schools more dependent on the state.[12][23] His actions in response to the proposition earned him praise from Proposition 13 author Howard Jarvis who went as far to make a television commercial for Brown just before his successful reelection bid in 1978.[23][24] The controversial proposition immediately cut tax revenues and required a two-thirds supermajority to raise taxes.[25] Proposition 13 “effectively destroyed the funding base of local governments and school districts, which thereafter depended largely on Sacramento for their revenue”.[26] Max Neiman, a professor at the Institute of Government Studies at University of California, Berkeley, credited Brown for “bailing out local government and school districts” but felt it was harmful “because it made it easier for people to believe that Proposition 13 wasn’t harmful.”[17]

Second term

Brown won re-election in 1978 against Republican state Attorney General Evelle J. Younger. Brown appointed the first openly gay judge in the United States when he namedStephen Lachs to serve on the Los Angeles County Superior Court in 1979.[27] In 1981, he also appointed the first openly lesbian judge in the United States, Mary C. Morgan to the San Francisco Municipal Court.[28] Brown completed his second term having appointed a total of five gay judges, including Rand Schrader and Jerold Krieger.[29][30] Through his first term as Governor, Brown had not appointed any openly gay people to any position, but he cited the failed 1978 Briggs Initiative, which sought to ban homosexuals from working in California’s public schools, for his increased support of gay rights.[27]

In 1981, California Governor Jerry Brown, who had established a reputation as a strong environmentalist, was confronted with a serious medfly infestation in the San Francisco Bay Area. He was advised by the state’s agricultural industry, and the US Department of Agriculture’s Animal and Plant Health Inspection service (APHIS), to authorize airborne spraying of the region. Initially, in accordance with his environmental protection stance, he chose to authorize ground-level spraying only. Unfortunately, the infestation spread as the medfly reproductive cycle out-paced the spraying. After more than a month, millions of dollars of crops had been destroyed and billions of dollars more were threatened. Governor Brown then authorized a massive response to the infestation. Fleets of helicopters sprayed malathion at night, and the California National Guard set up highway checkpoints and collected many tons of local fruit; in the final stage of the campaign, entomologists released millions of sterile male medflies in an attempt to disrupt the insects’ reproductive cycle.

Ultimately the infestation was eradicated, but both the Governor’s delay and the scale of the action has remained controversial ever since. Some people claimed that malathion was toxic to humans, as well as insects. In response to such concerns, Brown’s chief of staff, B. T. Collins, staged a news conference during which he publicly drank a glass of malathion. Many people complained that, while the malathion may not have been very toxic to humans, the aerosol spray containing it was corrosive to car paint.

Brown proposed the establishment of a state space academy and the purchasing of a satellite that would be launched into orbit to provide emergency communications for the state—a proposal similar to one that was indeed eventually adopted. In 1979, an out-of-state columnist, Mike Royko, at the Chicago Sun-Times, picked up on the nickname from Brown’s girlfriend at the time, Linda Ronstadt, who was quoted in a 1978 Rolling Stone magazine interview humorously calling him “Moonbeam”.[31][32] A year later Royko expressed his regret for publicizing the nickname,[33] and in 1991 Royko disavowed it entirely, proclaiming Brown to be just as serious as any other politician.[34][35][36][37]

Brown chose not to run for a third term in 1982, and instead ran for the United States Senate, but lost to San Diego Mayor Pete Wilson. He was succeeded as Governor by George Deukmejian, then state Attorney General, on January 3, 1983.

Senate defeat and public life

In 1982, Brown chose not to seek a third term as governor, instead, Brown ran for the United States Senate for the seat being vacated by Republican S.I. Hayakawa. He was defeated by Republican San Diego Mayor Pete Wilson by a margin of 52% to 45%. After his Senate defeat, Brown was left with few political options.[38] Republican George Deukmejian, a Brown critic, narrowly won the governorship in 1982, succeeding Brown, and was reelected overwhelmingly in 1986. After his Senate defeat in 1982, many considered Brown’s political career to be over.[38]

Brown traveled to Japan to study Buddhism, studying with Christian/Zen practitioner Hugo Enomiya-Lassalle under Yamada Koun-roshi. In an interview he explained, “Since politics is based on illusions, zazen definitely provides new insights for a politician. I then come back into the world of California and politics, with critical distance from some of my more comfortable assumptions.”[39] He also visited Mother Teresa in Calcutta, India, where he ministered to the sick in one of her hospices.[40] He explained, “Politics is a power struggle to get to the top of the heap. Calcutta and Mother Teresa are about working with those who are at the bottom of the heap. And to see them as no different than yourself, and their needs as important as your needs. And you’re there to serve them, and doing that you are attaining as great a state of being as you can.”[39]

Upon his return from abroad in 1988, Brown announced that he would stand as a candidate to become chairman of the California Democratic Party, and won against investment banker Steve Westly.[41] Although Brown greatly expanded the party’s donor base and enlarged its coffers, with a focus on grassroots organizing and get out the vote drives, he was criticized for not spending enough money on TV ads, which was felt to have contributed to Democratic losses in several close races in 1990. In early 1991, Brown abruptly resigned his post and announced that he would run for the Senate seat held by the retiring Alan Cranston. Although Brown consistently led in the polls for both the nomination and the general election, he abandoned the campaign, deciding instead to run for the presidency for a third time.

In 1995, with Brown’s political career at a low point, in the motion picture Jade, the fictional Governor of California tells an assistant district attorney to drop a case, “unless you want as much of a future in this state as Jerry Brown.” The assistant DA responds “Who’s Jerry Brown?”

Presidential bids

1976

Brown first ran for the Democratic nomination for President in March 1976, after the primary season had begun, and over a year after some candidates had started campaigning. Brown declared, “The country is rich, but not so rich as we have been led to believe. The choice to do one thing may preclude another. In short, we are entering an era of limits.”[42][43]

Brown’s name began appearing on primary ballots in May and he won in MarylandNevada, and his home state of California.[44] He missed the deadline inOregon, but he ran as a write-in candidate and finished in third behind Jimmy Carter and Senator Frank Church of Idaho. Brown is often credited with winning the New Jersey and Rhode Island primaries, but in reality, uncommitted slates of delegates that Brown advocated in those states finished first. With support from Louisiana Governor Edwin Edwards, Brown won a majority of delegates at the Louisiana delegate selection convention; thus Louisiana was the only southern state to not support Southerners Carter or Alabama Governor George Wallace. Despite this success, he was unable to stall Carter’s momentum, and his rival was nominated on the first ballot at the 1976 Democratic National Convention. Brown finished third with roughly 300 delegate votes, narrowly behind Congressman Morris Udall and Carter.

1980

In 1980, Brown challenged Carter for renomination. His candidacy had been anticipated by the press ever since he won re-election as governor in 1978 over the Republican Evelle Younger by the largest margin in California history, 1.3 million votes. But Brown had trouble gaining traction in both fundraising and polling for the presidential nomination. This was widely believed to be the result of the more prominent candidate Senator Ted Kennedy of Massachusetts. Brown’s 1980 platform, which he declared to be the natural result of combining Buckminster Fuller‘s visions of the future and E. F. Schumacher‘s theory of “Buddhist economics“, was much expanded from 1976. His “era of limits” slogan was replaced by a promise to, in his words, “Protect the Earth, serve the people, and explore the universe.”

Three main planks of his platform were a call for a constitutional convention to ratify the Balanced Budget Amendment, a promise to increase funds for the space program as a “first step in bringing us toward a solar-powered space satellite to provide solar energy for this planet,”[45] and, in the wake of the 1979 Three Mile Island accident, opposition to nuclear power. On the subject of the 1979 energy crisis, Brown decried the “Faustian bargain” that he claimed Carter had entered into with the oil industry, and declared that he would greatly increase federal funding of research into solar power. He endorsed the idea of mandatory non-military national service for the nation’s youth, and suggested that the Defense Department cut back on support troops while beefing up the number of combat troops.

Brown opposed Kennedy’s call for universal national health insurance and opposed Carter’s call for an employer mandate to provide catastrophic private health insurance.[46] As an alternative, he suggested a program of tax credits for those who do not smoke or otherwise damage their health, saying: “Those who abuse their bodies should not abuse the rest of us by taking our tax dollars.”[46] Brown also called for expanding the use of acupuncture and midwifery.[46]

As his campaign began to attract more members of what some more conservative commentators described as “the fringe”, including activists like Jane FondaTom Hayden, andJesse Jackson, however his polling numbers began to suffer. Brown received only 10 percent of the vote in the New Hampshire primary, and he was soon forced to announce that his decision to remain in the race would depend on a good showing in the Wisconsin primary. Although he had polled well there throughout the primary season, an attempt to film a live speech in Madison, the state’s capital, into a special effects-filled, 30-minute commercial (produced and directed by Francis Ford Coppola) was disastrous.[47]

1992

When Brown announced his intention to run for president against President George H.W. Bush, many in the media and his own party dismissed his campaign as having little chance of gaining significant support. Ignoring them, Brown embarked on a grassroots campaign to, in his own words, “take back America from the confederacy of corruption,careerism, and campaign consulting in Washington”.[48] In his stump speech, first used while officially announcing his candidacy on the steps of Independence Hall in Philadelphia, Pennsylvania, Brown told listeners that he would only be accepting campaign contributions from individuals and that he would not accept over $100.[49] Continuing with his populistreform theme, he assailed what he dubbed “the bipartisan Incumbent Party in Washington” and called for term limits for members of Congress. Citing various recent scandals onCapitol Hill, particularly the recent House banking scandal and the large congressional pay-raises from 1990, he promised to put an end to Congress being a “Stop-and-Shop for the moneyed special interests“.

As Brown campaigned in various primary states, he would eventually expand his platform beyond a policy of strict campaign finance reform. Although he focused on a variety of issues throughout the campaign, he highlighted his endorsement of living wage laws and opposition to free trade agreements such as NAFTA; he mostly concentrated on his tax policy, which had been created specifically for him by Arthur Laffer, the famous supporter of supply-side economics who created the Laffer curve. This plan, which called for the replacement of the progressive income tax with a flat tax and a value added tax, both at a fixed 13 percent rate, was decried by his opponents as regressive. Nevertheless, it was endorsed by The New York TimesThe New Republic, and Forbes, and its raising of taxes on corporations and elimination of various loopholes which tended to favor the very wealthy, proved to be popular with voters. This was, perhaps, not surprising, as various opinion polls taken at the time found that as many as three-quarters of all Americans believed the current tax code to be unfairly biased toward the wealthy. He “seemed to be the most left-wing and right-wing man in the field… [calling] for term limits, a flat tax, and the abolition of the Department of Education.”[50] Brown scored surprising wins in Connecticut and Colorado and seemed poised to overtake Clinton.

Due to his limited budget, Brown began to use a mixture of alternative media and unusual fund raising techniques. Unable to pay for actual commercials, he used frequent cable television and talk radio interviews as a form of free media to get his message to voters. In order to raise funds, he purchased a toll-free telephone number, which adorned all of his campaign stances.[51] During the campaign, Brown’s repetition of this number combined with the moralistic language used, led some to describe him as a “political televangelist” with an “anti-politics gospel”.[52]

Despite poor showings in the Iowa caucus (1.6%) and the New Hampshire primary (8%), Brown soon managed to win narrow victories in MaineColoradoNevadaAlaska, andVermont, but he continued to be considered a small threat for much of the campaign. It was not until shortly after Super Tuesday, when the field had been narrowed to Brown, former Senator Paul Tsongas of Massachusetts, and frontrunner Governor Bill Clinton of Arkansas, that Brown began to emerge as a major contender in the eyes of the press. On March 17, Brown forced Tsongas from the race when he received a strong third-place showing in the Illinois primary and then defeated the senator for second place in the Michigan primary by a wide margin. Exactly one week later, he cemented his position as a major threat to Clinton when he eked out a narrow win in the bitterly-fought Connecticut primary. As the press focused on the primaries in New York and Wisconsin, which were both to be held on the same day, Brown, who had taken the lead in polls in both states, made a gaffe: he announced to an audience of various leaders of New York City’s Jewish community that, if nominated, he would consider the Reverend Jesse Jackson as a vice-presidential candidate.[53] Jackson, who had made a pair of anti-semitic comments about Jews in general and New York City’s Jews in particular while running for president in 1984, was still despised in Jewish communities. Jackson also had ties to Louis Farrakhan, who said Judaism was a “gutter religion,” and with Yasir Arafat, the chairman of the Palestine Liberation Organization.[53] Brown’s polling numbers suffered. On April 7, he lost narrowly to Bill Clinton in Wisconsin (37%–34%), and dramatically in New York (41%–26%).

Although Brown continued to campaign in a number of states, he won no further primaries. Although overwhelmingly outspent, Brown won upset victories in seven states and his votes won to money raised ratio was by far the best of any candidate in the race.[54] He still had a sizable number of delegates, and a big win in his home state of California would deprive Clinton of sufficient support to win the Democratic nomination, possibly bringing about a brokered convention. After nearly a month of intense campaigning and multiple debates between the two candidates, Clinton managed to defeat Brown in this final primary by a margin of 48% to 41%. Although Brown did not win the nomination, he was able to boast of one accomplishment: At the following month’s Democratic National Convention, he received the votes of 596 delegates on the first ballot, more than any other candidate but Clinton. He spoke at the convention, and to the national viewing audience, yet without endorsing Clinton, through the device of seconding his own nomination. There was animosity between the Brown and Clinton campaigns, and Brown was the first political figure to criticize Bill Clinton over what became the Whitewater controversy.[51]

Mayor of Oakland (1999–2007)

Mayor Jerry Brown (left) with U.S. Senator Dianne Feinstein (middle) and San Francisco Supervisor Gavin Newsom (right).

What would become Brown’s re-emergence into politics after six years was in Oakland, California, an “overwhelmingly minority city of 400,000.”[55] Brown ran as an independent “having left the Democratic Party, blasting what he called the ‘deeply corrupted’ two-party system.”[55] Prior to taking office, Brown campaigned to get the approval of the electorate to convert Oakland’s weak mayor political structure, which structured the mayor as chairman of the city council and official greeter, to a strong mayor structure, where the mayor would act as chief executive over the nonpolitical city manager and thus the various city departments, and break tie votes on the Oakland City Council.[55] He won with 59% of the vote in a field of ten candidates.[55] The political left had hoped for some of the more progressive politics from Brown’s earlier governorship, but found Brown “more pragmatic than progressive, more interested in downtown redevelopment and economic growth than political ideology”.[56]

The city was rapidly losing residents and businesses, and Brown is credited with starting the revitalization of the city using his connections and experience to lessen the economic downturn, while attracting $1 billion of investments, including refurbishing the Fox Theatre, the Port of Oakland, and Jack London Square.[55] The downtown district was losing retailers, restaurateurs and residential developers, and Brown sought to attract thousands of new residents with disposable income to revitalize the area.[57] Brown continued his predecessor Elihu Harris‘s public policy of supporting downtown housing development in the area defined as the Central Business District in Oakland’s 1998 General Plan.[58] Since Brown worked toward the stated goal of bringing an additional 10,000 residents to Downtown Oakland, his plan was known as “10K.” It has resulted in redevelopment projects in the Jack London District, where Brown purchased and later sold an industrial warehouse which he used as a personal residence,[55] and in the Lakeside Apartments District near Lake Merritt. The 10k plan has touched the historic Old Oakland district, the Chinatown district, the Uptown district, andDowntown. Brown surpassed the stated goal of attracting 10,000 residents according to city records, and built more affordable housing than previous mayoral administrations.[57]

Brown had campaigned on fixing Oakland’s schools, but “bureaucratic battles” dampened his efforts. He concedes he never had control of the schools, and his reform efforts were “largely a bust”.[55] He focused instead on the creation of two charter schools, the Oakland School for the Arts and the Oakland Military Institute.[55] Another area of disappointment was overall crime. Brown sponsored nearly two dozen crime initiatives to reduce the crime rate,[59] although crime decreased by 13 percent overall, the city still suffered a “57 percent spike in homicides his final year in office, to 148 overall”.[55]

Attorney General of California (2007–2011)

Brown in 2009

In 2004, Brown expressed interest to be a candidate for the Democratic nomination for Attorney General of California in the 2006 election, and in May 2004, he formally filed to run. He defeated his Democratic primary opponent Los Angeles City Attorney Rocky Delgadillo 63% to 37%. In the general election, Brown defeated Republican State Senator Charles Poochigian 56.3% to 38.2%, one of the largest margins of victory in any statewide California race.[60] In the final weeks leading up to Election Day, Brown’s eligibility to run for Attorney General was challenged in what Brown called a “political stunt by a Republican office seeker” (Contra Costa County Republican Central Committee chairman and state GOP vice-chair candidateTom Del Beccaro). Plaintiffs claimed Brown did not meet eligibility according to California Government Code §12503, “No person shall be eligible to the office of Attorney General unless he shall have been admitted to practice before the Supreme Court of the state for a period of at least five years immediately preceding his election or appointment to such office.” Legal analysts called the lawsuit frivolous because Brown was admitted to practice law in the State of California on June 14, 1965, and had been so admitted to practice ever since. Although ineligible to practice law because of his voluntary inactive status in the State Bar of California from January 1, 1997 to May 1, 2003, he was nevertheless still admitted to practice. Because of this difference the case was eventually thrown out.[61][62]

As Attorney General, Brown represented the state in fighting death penalty appeals and stated that he would follow the law, regardless of his personal beliefs against capital punishment. Capital punishment by lethal injection was halted in California by federal judge Jeremy D. Fogel until new facilities and procedures were put into place.[63] Brown moved to resume capital punishment in 2010 with the execution of Albert Greenwood Brown after the lifting of a statewide moratoriumby a California court.[64] Brown’s Democratic campaign, which pledged to “enforce the laws” of California, denied any connection between the case and the gubernatorial election. Prosecutor Rod Pacheco, who supported Republican opponent Meg Whitman, said that it would be unfair to accuse Jerry Brown of using the execution for political gain as they never discussed the case.[65]

In June 2008, Brown filed a fraud lawsuit claiming mortgage lender Countrywide Financial engaged in “unfair and deceptive” practices to get homeowners to apply for risky mortgages far beyond their means.”[66][67] Brown accused the lender of breaking the state’s laws against false advertising and unfair business practices, the lawsuit also claimed the defendant misled many consumers by misinforming them about the workings of certain mortgages such adjustable-rate mortgages, interest-only loans, low-documentation loans and home-equity loans while telling borrowers they would be able to refinance before the interest rate on their loans adjusted.[68] The suit was settled in October 2008 after Bank of America acquired Countrywide. The settlement involved the modifying of troubled ‘predatory loans’ up to $8.4 billion.[69]

Proposition 8, a contentious voter-approved amendment to the state constitution that banned same-sex marriage was upheld in May 2009 by the California Supreme Court.[70][71] In August 2010, the U.S. District Court for the Northern District of California ruled that Proposition 8 violated the Due Process and the Equal Protection clauses of the Fourteenth Amendment to the United States Constitution.[72] Brown and then Republican Governor Arnold Schwarzenegger both declined to appeal the ruling.[73] The state appeals court declined to order the men to defend the proposition and scheduled a hearing in early December to see if there is “legal standing to appeal Walker’s ruling.”[74]

Governor of California (2011–present)

Third term

Brown at an campaign rally in Sacramento two days before the election

Brown announced his candidacy for governor on March 2, 2010.[75] First indicating his interest in early 2008, Brown formed an exploratory committee in order to seek a third term as governor in 2010, following the expiration of Governor Arnold Schwarzenegger‘s term.[76][77]

Brown’s Republican opponent in the election was former eBay president Meg Whitman. Brown was endorsed by the Los Angeles Times,[78] The Sacramento Bee,[79] the San Francisco Chronicle,[80] the San Jose Mercury News,[81] and theService Employees International Union.[82] Brown won the race 53.8% to Whitman’s 40.9%.

Brown was sworn in for his third term as governor on January 3, 2011, succeeding Republican Arnold Schwarzenegger. He will be up for re-election in 2014. Brown is working on a budget that would shift many government programs from the state to the local level, a reversal of trends from his first tenure as governor.[83]

On June 28, 2012, Governor Brown signed a budget that made deep cuts to social services with the assumption that voters would pass $8 billion in tax hikes in November 2012 to close California’s $15.7-billion budget deficit. “This budget reflects tough choices that will help get California back on track,” Governor Brown said in a statement.[84]

When asked by writer Marc Collins, in an article from Pacific Standard magazine on August 12, 2012, what the state needs to get back on track even if his initiative passes, Governor Brown remarked: “We need budget cuts. We need the continued growth of the economy for a long period of time. We’re suffering from the mortgage meltdown that killed 600,000 jobs in the construction industry. … We’re recovering from a national recession slowly—over 300,000 jobs [gained] since the recession. We’ve got a million to go. That needs to continue, but that depends not only on Barack Obama and the Congress and the Federal Reserve, but also on [German Chancellor Angela] Merkel, China, the European Union, and the self-organizing quality of the world economy. We need all that, which we don’t have control over. What we do have control over is managing affairs to win public regard and confidence, and technically we need to make these hard cuts that Democrats don’t want to make, but a gimmicky sort of budget won’t lend itself to voters passing new taxes.”[85]

In September 2012, Brown signed legislation sponsored by California State Senator Ted Lieu that prohibits protesters at funerals within 300 feet, with convicted violators punishable with fines and jail time; the legislation was in response to protests conducted by the Westboro Baptist Church.[86]

In the November 2012 general elections, voters approved Brown’s proposed tax increases in the form of Proposition 30. Prop 30 raised the state personal income tax increase over seven years for California residents with an annual income over US$250,000 and increased in the state sales tax by 0.25 percent over four years. It allowed the state to avoid nearly $6 billion in cuts to public education.[87]

Electoral history

Personal life

Anne Gust, Brown’s wife and the First Lady of California

A bachelor as governor and mayor, Brown attracted attention for dating high-profile women, the most notable of whom was singer Linda Ronstadt.[88] In March 2005, Brown announced his engagement to his girlfriend since 1990, Anne Gust, former chief administrative officer for The Gap.[89] They were married on June 18 in a ceremony officiated by Senator Dianne Feinstein in the Rotunda Building in downtown Oakland. They had a second, religious ceremony later in the day in the Roman Catholic church in San Francisco where Brown’s parents had been married. Brown and Gust live in the Oakland Hills in a home purchased for $1.8 million, as reported by The Huffington Post.[90]

Beginning in 1995, Brown hosted a daily call-in talk show on the local Pacifica Radio station, KPFA-FM, in Berkeley broadcast to major US markets.[39] Both the radio program and Brown’s political action organization, based in Oakland, were called We the People.[39] His programs, usually featuring invited guests, generally explored alternative views on a wide range of social and political issues, from education and health care to spirituality and the death penalty.[39]

The official gubernatorial portrait of Jerry Brown, commemorating his first period as Governor of California was painted by Don Bachardyand unveiled in 1984. The painting has long been controversial due to its departure from the traditional norms of portraiture.[91]

Brown has a long-term friendship with Jacques Barzaghi, his aide-de-camp, whom he met in the early 1970s and put on his payroll. Author Roger Rapaport wrote in his 1982 Brown biography California Dreaming: The Political Odyssey of Pat & Jerry Brown, “this combination clerk, chauffeur, fashion consultant, decorator and trusted friend had no discernible powers. Yet late at night, after everyone had gone home to their families and TV consoles, it was Jacques who lingered in the Secretary (of state’s) office.” Barzaghi and his sixth wife Aisha lived with Brown in the warehouse in Jack London Square; Barzaghi was brought into Oakland city government upon Brown’s election as mayor, where Barzaghi first acted as the mayor’s armed bodyguard. Brown later rewarded Barzaghi with high-paying city jobs, including Arts Director[citation needed]. Brown dismissed Barzaghi in July 2004.[92]

In April 2011 Brown had surgery to remove a basal-cell carcinoma from the right side of his nose.[93] It was announced in December 2012 that Brown was being treated for early stage (the precise stage and grade was not stated) localized prostate cancer with a very good prognosis.[94]

http://en.wikipedia.org/wiki/Jerry_Brown

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Pronk Pops Show 208: February 11, 2014

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Story 1: President Obama Rewrites The Affordable Care Act — Breaking Oath of Office Once Again — Videos

NEW-OBAMACARE-DELAY

obamacare_permanent_delay_graphic

OBAMACARE, obamacartoon

obamacare-everyone-hates-political-cartoon

The truth about ObamaCare and the entitlement culture

Politics or policy behind latest ObamaCare delay?

CBS: Obamacare Delayed Again

Wh Delays Obamacare’s Employer Mandate Until After Midterm – Employers Not Allowed To Fire Anyone?

White House announces another delay in Obamacare employer mandate

Mark Halperin: ObamaCare Mandate Delay Screams Of Politics

Rep. Charlie Rangel discusses the latest ObamaCare delay

Another Day, Another Delay – Obamacare Employer Mandate Delayed – Special Report 1st Segment

CNN: Latest ObamaCare Delay Driven By Politics And Another Admission Of Problems With The Law

‘This is stuff you do in a banana republic’ Krauthammer on Obamacare employer mandate delay

CBS: Washington Children Lose Access To Doctors Due To ObamaCare

Obama’s New Delay of Employer Mandate Violates Plain Language of Law -

President Barack Obama’s Treasury Department issued a new  regulation today that for the second time directly violates the plain and unambiguous text of the Patient Protection and Affordable Care Act by allowing some businesses to avoid the law’s Dec. 31, 2013 deadline to provide health insurance coverage to their employees.

Initially, on July 2, 2013, the administration unilaterally delayed the deadline for the employer mandate until 2015. Now, the administration is unilaterally delaying it for some businesses until 2016.

In its official summary of PPACA, the Congressional Research Service said: “(Sec. 1513, as modified by section 10106) Imposes fines on large employers (employers with more than 50 full-time employees) who fail to offer their full-time employees the opportunity to enroll in minimum essential coverage or who have a waiting period for enrollment of more than 60 days.”

The text of the law itself describes an “applicable large employer” as follows: “The term ‘applicable large employer’ means, with respect to a calendar year, an employer who employed an average of at least 50 full-time employees on business days during the preceding calendar year.”

The final words in the section of PPACA mandating that employers with more than 50 full-time employees provide their employees with “minimum essential coverage” imposes a specific statutory deadline for doing so. It says: “EFFECTIVE DATE.—The amendments made by this section shall apply to months beginning after December 31, 2013.”

Last summer, the administration unilaterally moved this hard statutory deadline back one year to 2015 for all employers with more than 50 full-time employees. Now, without any action by Congress, the administration is moving it back again for some employers—despite the plain language of the law.

The Treasury Department has issued a fact sheet explaining how the Obama administration’s new declaration changes the meaning of the Patient Protection and Affordable Care Act.

The fact sheet says:

“To ensure a gradual phase-in and assist the employers to whom the policy does apply, the final rules provide, for 2015, that: The employer responsibility provision will generally apply to larger firms with 100 or more full-time employees starting in 2015 and employers with 50 or more full-time employees starting in 2016.”

The fact sheet goes on to say:

“To avoid a payment for failing to offer health coverage, employers need to offer coverage to 70 percent of their full-time employees in 2015 and 95 percent in 2016 and beyond, helping employers that, for example, may offer coverage to employees with 35 or more hours, but not yet to that fraction of their employees who work 30 to 34 hours.”

It further says:

“While the employer responsibility provisions will generally apply starting in 2015, they will not apply until 2016 to employers with at least 50 but fewer than 100 full-time employees if the employer provides an appropriate certification described in the rules.”

And also:

“Employers that are subject to the employer responsibility provisions in 2015 must offer coverage to at least 70 percent of full-time employees as one of the conditions for avoiding an assessable payment, rather than 95 percent which will begin in 2016.”

In sum, the law says that employers with “at least 50 full-time employees” must provide “minimum essential coverage” in the “months beginning after December 31, 2013” or pay a fine. The new declaration from the Obama administration’s Treasury Department says this part of the law no longer applies. It says employers with between 50 and 99 employees need not provide coverage until 2016 and larger employers need only provide coverage to 70 percent of their employees next year.

- See more at: http://cnsnews.com/news/article/terence-p-jeffrey/obama-s-new-delay-employer-mandate-violates-plain-language-law#sthash.YJKKRiAm.dpuf

Obama Delays Health-Care Mandate for Some Companies–Update

By Louise Radnofsky

A batch of employers won’t face a fine next year if they fail to provide health insurance to their workers, the Obama administration said Monday.

In regulations outlining the Affordable Care Act, the Treasury Department said employers with between 50 and 99 full-time workers won’t have to comply with the law’s requirement to provide insurance or pay a fee until 2016.

Companies with 100 workers or more could avoid penalties in 2015 if they showed they were offering coverage to at least 70 percent of their full-time workers, the Treasury said.

The move is a new, significant revision of the law after a series of delays and a troubled rollout. Originally, employers with the equivalent of 50 full-time workers or more had to offer coverage or pay a penalty starting at $2,000 per worker beginning in 2014.

That so-called employer mandate was seen as a cornerstone provision in the law’s goal of expanding insurance coverage to millions of Americans this year. But last summer the administration announced a surprise one-year reprieve in enforcement of the requirement, from 2014 to 2015.

Monday’s announcement of further delays comes as the administration weighs how much of the law to adjust in the wake of the rollout and the looming prospect of midterm elections.

A senior administration official said the shift reflects the administration’s observations on the law’s implementation and its willingness to acknowledge business concerns, though the official said that no single reason was behind the change.

Most large employers offer coverage to their workers, though not all employees accept it. Many of the companies that don’t offer coverage have fewer employees and are in lower-wage areas such as the hospitality, retail and agriculture sectors. They have been among the most vocal about the impact of the new requirements.

Some of those employers had begun trimming workers’ hours as a way to reduce their exposure to penalties, since the requirement to cover workers only applies to employees clocking 30 hours a week or more.

The administration also signaled on Monday that big employers that currently offer coverage voluntarily will likely see simpler requirements for how to prove that. However, full regulations detailing the reporting requirements haven’t been released, senior Treasury officials said.

Under the new rules, companies would be allowed during the phasing-in year to offer coverage specifically to a subset of employees, such as those working 35 hours or more a week, the Treasury said.

Senior Treasury officials said the shift was aimed at giving more time for smaller employers subject to the requirement to adjust and for all companies to consider the number of hours their employees worked and whether they could avoid cutting them.

The officials said employers who wanted to use the phase-in period would have to certify that they hadn’t decreased their employee numbers in order to qualify.

Treasury also set new rules for how the requirement would apply to workers such as volunteers and seasonal employees, saying that employers wouldn’t be penalized for failing to offer those people coverage, regardless of the number of hours they were working.

In recent months the administration has made a series of changes to the law that have further blunted its full impact this year. It has asked insurers to temporarily reinstate policies that had been canceled because they didn’t meet new requirements set by the law, even though the administration had previously described those plans as inadequate.

The botched launch of online insurance portals also prompted the Congressional Budget Office to revise its estimates for the number of people who would use the exchanges this year to 6 million, as well as another 8 million people who would gain coverage by signing up for Medicaid.

http://online.wsj.com/article/BT-CO-20140210-711590.html

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The Economy Still Stagnating As The 10 Million Plus Jobs Gap Widens — Videos

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Story 2: The Economy Still Stagnating As The 10 Million Plus Jobs Gap Widens — Videos

Making Sense of Today’s January Jobs Report

February 7th 2014 CNBC Stock Market Squawk Box (January Jobs Report)

gdp_large

sgs-emp

non-farm-payrolls-wide-201312

Employment Level

145,224,000

Series Id:           LNS12000000
Seasonally Adjusted
Series title:        (Seas) Employment Level
Labor force status:  Employed
Type of data:        Number in thousands
Age:                 16 years and over

employment_level
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 136559(1) 136598 136701 137270 136630 136940 136531 136662 136893 137088 137322 137614
2001 137778 137612 137783 137299 137092 136873 137071 136241 136846 136392 136238 136047
2002 135701 136438 136177 136126 136539 136415 136413 136705 137302 137008 136521 136426
2003 137417(1) 137482 137434 137633 137544 137790 137474 137549 137609 137984 138424 138411
2004 138472(1) 138542 138453 138680 138852 139174 139556 139573 139487 139732 140231 140125
2005 140245(1) 140385 140654 141254 141609 141714 142026 142434 142401 142548 142499 142752
2006 143150(1) 143457 143741 143761 144089 144353 144202 144625 144815 145314 145534 145970
2007 146028(1) 146057 146320 145586 145903 146063 145905 145682 146244 145946 146595 146273
2008 146378(1) 146156 146086 146132 145908 145737 145532 145203 145076 144802 144100 143369
2009 142152(1) 141640 140707 140656 140248 140009 139901 139492 138818 138432 138659 138013
2010 138451(1) 138599 138752 139309 139247 139148 139179 139427 139393 139111 139030 139266
2011 139287(1) 139422 139655 139622 139653 139409 139524 139904 140154 140335 140747 140836
2012 141677(1) 141943 142079 141963 142257 142432 142272 142204 142947 143369 143233 143212
2013 143384(1) 143464 143393 143676 143919 144075 144285 144179 144270 143485 144443 144586
2014 145224(1)

Civilian Labor Force

155,460,000

Series Id:           LNS11000000
Seasonally Adjusted
Series title:        (Seas) Civilian Labor Force Level
Labor force status:  Civilian labor force
Type of data:        Number in thousands
Age:                 16 years and over

Civilian_Labor_Force_Level

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 142267(1) 142456 142434 142751 142388 142591 142278 142514 142518 142622 142962 143248
2001 143800 143701 143924 143569 143318 143357 143654 143284 143989 144086 144240 144305
2002 143883 144653 144481 144725 144938 144808 144803 145009 145552 145314 145041 145066
2003 145937(1) 146100 146022 146474 146500 147056 146485 146445 146530 146716 147000 146729
2004 146842(1) 146709 146944 146850 147065 147460 147692 147564 147415 147793 148162 148059
2005 148029(1) 148364 148391 148926 149261 149238 149432 149779 149954 150001 150065 150030
2006 150214(1) 150641 150813 150881 151069 151354 151377 151716 151662 152041 152406 152732
2007 153144(1) 152983 153051 152435 152670 153041 153054 152749 153414 153183 153835 153918
2008 154063(1) 153653 153908 153769 154303 154313 154469 154641 154570 154876 154639 154655
2009 154210(1) 154538 154133 154509 154747 154716 154502 154307 153827 153784 153878 153111
2010 153404(1) 153720 153964 154642 154106 153631 153706 154087 153971 153631 154127 153639
2011 153198(1) 153280 153403 153566 153526 153379 153309 153724 154059 153940 154072 153927
2012 154328(1) 154826 154811 154565 154946 155134 154970 154669 155018 155507 155279 155485
2013 155699(1) 155511 155099 155359 155609 155822 155693 155435 155473 154625 155284 154937
2014 155460(1)

Labor Force Participation Rate

63.0%

Series Id:           LNS11300000
Seasonally Adjusted
Series title:        (Seas) Labor Force Participation Rate
Labor force status:  Civilian labor force participation rate
Type of data:        Percent or rate
Age:                 16 years and over

labor_participation_rate

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 67.3 67.3 67.3 67.3 67.1 67.1 66.9 66.9 66.9 66.8 66.9 67.0
2001 67.2 67.1 67.2 66.9 66.7 66.7 66.8 66.5 66.8 66.7 66.7 66.7
2002 66.5 66.8 66.6 66.7 66.7 66.6 66.5 66.6 66.7 66.6 66.4 66.3
2003 66.4 66.4 66.3 66.4 66.4 66.5 66.2 66.1 66.1 66.1 66.1 65.9
2004 66.1 66.0 66.0 65.9 66.0 66.1 66.1 66.0 65.8 65.9 66.0 65.9
2005 65.8 65.9 65.9 66.1 66.1 66.1 66.1 66.2 66.1 66.1 66.0 66.0
2006 66.0 66.1 66.2 66.1 66.1 66.2 66.1 66.2 66.1 66.2 66.3 66.4
2007 66.4 66.3 66.2 65.9 66.0 66.0 66.0 65.8 66.0 65.8 66.0 66.0
2008 66.2 66.0 66.1 65.9 66.1 66.1 66.1 66.1 66.0 66.0 65.9 65.8
2009 65.7 65.8 65.6 65.7 65.7 65.7 65.5 65.4 65.1 65.0 65.0 64.6
2010 64.8 64.9 64.9 65.2 64.9 64.6 64.6 64.7 64.6 64.4 64.6 64.3
2011 64.2 64.2 64.2 64.2 64.2 64.0 64.0 64.1 64.2 64.1 64.1 64.0
2012 63.7 63.9 63.8 63.7 63.8 63.8 63.7 63.5 63.6 63.7 63.6 63.6
2013 63.6 63.5 63.3 63.4 63.4 63.5 63.4 63.2 63.2 62.8 63.0 62.8
2014 63.0

Unemployment Level

10,236,000

Series Id:           LNS13000000
Seasonally Adjusted
Series title:        (Seas) Unemployment Level
Labor force status:  Unemployed
Type of data:        Number in thousands
Age:                 16 years and over

unemployment_level

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 5708 5858 5733 5481 5758 5651 5747 5853 5625 5534 5639 5634
2001 6023 6089 6141 6271 6226 6484 6583 7042 7142 7694 8003 8258
2002 8182 8215 8304 8599 8399 8393 8390 8304 8251 8307 8520 8640
2003 8520 8618 8588 8842 8957 9266 9011 8896 8921 8732 8576 8317
2004 8370 8167 8491 8170 8212 8286 8136 7990 7927 8061 7932 7934
2005 7784 7980 7737 7672 7651 7524 7406 7345 7553 7453 7566 7279
2006 7064 7184 7072 7120 6980 7001 7175 7091 6847 6727 6872 6762
2007 7116 6927 6731 6850 6766 6979 7149 7067 7170 7237 7240 7645
2008 7685 7497 7822 7637 8395 8575 8937 9438 9494 10074 10538 11286
2009 12058 12898 13426 13853 14499 14707 14601 14814 15009 15352 15219 15098
2010 14953 15121 15212 15333 14858 14483 14527 14660 14578 14520 15097 14373
2011 13910 13858 13748 13944 13873 13971 13785 13820 13905 13604 13326 13090
2012 12650 12883 12732 12603 12689 12702 12698 12464 12070 12138 12045 12273
2013 12315 12047 11706 11683 11690 11747 11408 11256 11203 11140 10841 10351
2014 10236

Unemployment Rate

6.6%

Series Id:           LNS14000000
Seasonally Adjusted
Series title:        (Seas) Unemployment Rate
Labor force status:  Unemployment rate
Type of data:        Percent or rate
Age:                 16 years and over

unemployment_rate_U_3
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 4.0 4.1 4.0 3.8 4.0 4.0 4.0 4.1 3.9 3.9 3.9 3.9
2001 4.2 4.2 4.3 4.4 4.3 4.5 4.6 4.9 5.0 5.3 5.5 5.7
2002 5.7 5.7 5.7 5.9 5.8 5.8 5.8 5.7 5.7 5.7 5.9 6.0
2003 5.8 5.9 5.9 6.0 6.1 6.3 6.2 6.1 6.1 6.0 5.8 5.7
2004 5.7 5.6 5.8 5.6 5.6 5.6 5.5 5.4 5.4 5.5 5.4 5.4
2005 5.3 5.4 5.2 5.2 5.1 5.0 5.0 4.9 5.0 5.0 5.0 4.9
2006 4.7 4.8 4.7 4.7 4.6 4.6 4.7 4.7 4.5 4.4 4.5 4.4
2007 4.6 4.5 4.4 4.5 4.4 4.6 4.7 4.6 4.7 4.7 4.7 5.0
2008 5.0 4.9 5.1 5.0 5.4 5.6 5.8 6.1 6.1 6.5 6.8 7.3
2009 7.8 8.3 8.7 9.0 9.4 9.5 9.5 9.6 9.8 10.0 9.9 9.9
2010 9.7 9.8 9.9 9.9 9.6 9.4 9.5 9.5 9.5 9.5 9.8 9.4
2011 9.1 9.0 9.0 9.1 9.0 9.1 9.0 9.0 9.0 8.8 8.6 8.5
2012 8.2 8.3 8.2 8.2 8.2 8.2 8.2 8.1 7.8 7.8 7.8 7.9
2013 7.9 7.7 7.5 7.5 7.5 7.5 7.3 7.2 7.2 7.2 7.0 6.7
2014 6.6

Employment-Population Ratio

58.8%

Series Id:           LNS12300000
Seasonally Adjusted
Series title:        (Seas) Employment-Population Ratio
Labor force status:  Employment-population ratio
Type of data:        Percent or rate
Age:                 16 years and over
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 64.6 64.6 64.6 64.7 64.4 64.5 64.2 64.2 64.2 64.2 64.3 64.4
2001 64.4 64.3 64.3 64.0 63.8 63.7 63.7 63.2 63.5 63.2 63.0 62.9
2002 62.7 63.0 62.8 62.7 62.9 62.7 62.7 62.7 63.0 62.7 62.5 62.4
2003 62.5 62.5 62.4 62.4 62.3 62.3 62.1 62.1 62.0 62.1 62.3 62.2
2004 62.3 62.3 62.2 62.3 62.3 62.4 62.5 62.4 62.3 62.3 62.5 62.4
2005 62.4 62.4 62.4 62.7 62.8 62.7 62.8 62.9 62.8 62.8 62.7 62.8
2006 62.9 63.0 63.1 63.0 63.1 63.1 63.0 63.1 63.1 63.3 63.3 63.4
2007 63.3 63.3 63.3 63.0 63.0 63.0 62.9 62.7 62.9 62.7 62.9 62.7
2008 62.9 62.8 62.7 62.7 62.5 62.4 62.2 62.0 61.9 61.7 61.4 61.0
2009 60.6 60.3 59.9 59.8 59.6 59.4 59.3 59.1 58.7 58.5 58.6 58.3
2010 58.5 58.5 58.5 58.7 58.6 58.5 58.5 58.6 58.5 58.3 58.2 58.3
2011 58.4 58.4 58.4 58.4 58.4 58.2 58.2 58.3 58.4 58.4 58.5 58.5
2012 58.5 58.5 58.6 58.5 58.6 58.6 58.5 58.4 58.6 58.8 58.7 58.6
2013 58.6 58.6 58.5 58.6 58.7 58.7 58.7 58.6 58.6 58.2 58.6 58.6
2014 58.8

Unemployment Rate – 16-19 Yrs

20.7%

Series Id:           LNS14000012
Seasonally Adjusted
Series title:        (Seas) Unemployment Rate - 16-19 yrs.
Labor force status:  Unemployment rate
Type of data:        Percent or rate
Age:                 16 to 19 years

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 12.7 13.8 13.3 12.6 12.8 12.3 13.4 14.0 13.0 12.8 13.0 13.2
2001 13.8 13.7 13.8 13.9 13.4 14.2 14.4 15.6 15.2 16.0 15.9 17.0
2002 16.5 16.0 16.6 16.7 16.6 16.7 16.8 17.0 16.3 15.1 17.1 16.9
2003 17.2 17.2 17.8 17.7 17.9 19.0 18.2 16.6 17.6 17.2 15.7 16.2
2004 17.0 16.5 16.8 16.6 17.1 17.0 17.8 16.7 16.6 17.4 16.4 17.6
2005 16.2 17.5 17.1 17.8 17.8 16.3 16.1 16.1 15.5 16.1 17.0 14.9
2006 15.1 15.3 16.1 14.6 14.0 15.8 15.9 16.0 16.3 15.2 14.8 14.6
2007 14.8 14.9 14.9 15.9 15.9 16.3 15.3 15.9 15.9 15.4 16.2 16.8
2008 17.8 16.6 16.1 15.9 19.0 19.2 20.7 18.6 19.1 20.0 20.3 20.5
2009 20.7 22.3 22.2 22.2 23.4 24.7 24.3 25.0 25.9 27.2 26.9 26.7
2010 26.0 25.6 26.2 25.4 26.5 26.0 25.9 25.6 25.8 27.3 24.8 25.3
2011 25.5 24.1 24.3 24.5 23.9 24.8 24.8 25.1 24.5 24.2 24.1 23.3
2012 23.5 23.8 24.8 24.6 24.2 23.7 23.7 24.4 23.8 23.8 23.9 24.0
2013 23.5 25.2 23.9 23.7 24.1 23.8 23.4 22.6 21.3 22.0 20.8 20.2
2014 20.7

Average Weeks Unemployed

35.4 Weeks

Series Id:           LNS13008275
Seasonally Adjusted
Series title:        (Seas) Average Weeks Unemployed
Labor force status:  Unemployed
Type of data:        Number of weeks
Age:                 16 years and over
average_weeks_unemployed
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 13.1 12.6 12.7 12.4 12.6 12.3 13.4 12.9 12.2 12.7 12.4 12.5
2001 12.7 12.8 12.8 12.4 12.1 12.7 12.9 13.3 13.2 13.3 14.3 14.5
2002 14.7 15.0 15.4 16.3 16.8 16.9 16.9 16.5 17.6 17.8 17.6 18.5
2003 18.5 18.5 18.1 19.4 19.0 19.9 19.7 19.2 19.5 19.3 19.9 19.8
2004 19.9 20.1 19.8 19.6 19.8 20.5 18.8 18.8 19.4 19.5 19.7 19.4
2005 19.5 19.1 19.5 19.6 18.6 17.9 17.6 18.4 17.9 17.9 17.5 17.5
2006 16.9 17.8 17.1 16.7 17.1 16.6 17.1 17.1 17.1 16.3 16.2 16.1
2007 16.3 16.7 17.8 16.9 16.6 16.5 17.2 17.0 16.3 17.0 17.3 16.6
2008 17.5 16.9 16.5 16.9 16.6 17.1 17.0 17.7 18.6 19.9 18.9 19.9
2009 19.8 20.2 20.9 21.7 22.4 23.9 25.1 25.3 26.6 27.5 28.9 29.7
2010 30.3 29.9 31.6 33.3 33.9 34.5 33.8 33.6 33.4 34.2 33.9 34.8
2011 37.2 37.5 39.2 38.7 39.5 39.7 40.4 40.2 40.2 39.1 40.3 40.7
2012 40.1 40.0 39.4 39.3 39.6 40.0 38.8 39.1 39.4 40.3 39.2 38.0
2013 35.4 36.9 37.0 36.6 36.9 35.7 36.7 37.0 36.8 36.0 37.1 37.1
2014 35.4

Median Weeks Unemployed

16.0 weeks

Series Id:           LNS13008276
Seasonally Adjusted
Series title:        (Seas) Median Weeks Unemployed
Labor force status:  Unemployed
Type of data:        Number of weeks
Age:                 16 years and over

median_weeks_unemployed

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 5.8 6.1 6.0 6.1 5.8 5.7 6.0 6.3 5.2 6.1 6.1 6.0
2001 5.8 6.1 6.6 5.9 6.3 6.0 6.8 6.9 7.2 7.3 7.7 8.2
2002 8.4 8.3 8.4 8.9 9.5 11.0 8.9 9.0 9.5 9.6 9.3 9.6
2003 9.6 9.5 9.7 10.2 9.9 11.5 10.3 10.1 10.2 10.4 10.3 10.4
2004 10.6 10.2 10.2 9.5 9.9 11.0 8.9 9.2 9.6 9.5 9.7 9.5
2005 9.4 9.2 9.3 9.0 9.1 9.0 8.8 9.2 8.4 8.6 8.5 8.7
2006 8.6 9.1 8.7 8.4 8.5 7.3 8.0 8.4 8.0 7.9 8.3 7.5
2007 8.3 8.5 9.1 8.6 8.2 7.7 8.7 8.8 8.7 8.4 8.6 8.4
2008 9.0 8.7 8.7 9.4 7.9 9.0 9.7 9.7 10.2 10.4 9.8 10.5
2009 10.7 11.7 12.3 13.1 14.2 17.2 16.0 16.3 17.8 18.9 19.8 20.1
2010 20.0 19.9 20.5 22.1 22.3 25.0 22.2 20.9 20.2 21.4 21.0 22.0
2011 21.5 21.2 21.7 20.9 21.6 22.1 21.8 22.2 21.9 20.7 20.9 20.6
2012 20.9 20.0 19.6 19.2 19.8 19.8 17.2 18.2 18.7 20.0 18.6 17.8
2013 16.0 17.7 18.1 17.3 16.9 16.2 15.8 16.5 16.4 16.5 17.0 17.1
2014 16.0

Not in Labor Force, Searched for Work and Available

2,592,000

Series Id:                       LNU05026642
Not Seasonally Adjusted
Series title:                    (Unadj) Not in Labor Force, Searched For Work and Available
Labor force status:              Not in labor force
Type of data:                    Number in thousands
Age:                             16 years and over
Job desires/not in labor force:  Want a job now
Reasons not in labor force:      Available to work now
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 1207 1281 1219 1216 1113 1142 1172 1097 1166 1044 1100 1125 1157
2001 1295 1337 1109 1131 1157 1170 1232 1364 1335 1398 1331 1330 1266
2002 1532 1423 1358 1397 1467 1380 1507 1456 1501 1416 1401 1432 1439
2003 1598 1590 1577 1399 1428 1468 1566 1665 1544 1586 1473 1483 1531
2004 1670 1691 1643 1526 1533 1492 1557 1587 1561 1647 1517 1463 1574
2005 1804 1673 1588 1511 1428 1583 1516 1583 1438 1414 1415 1589 1545
2006 1644 1471 1468 1310 1388 1584 1522 1592 1299 1478 1366 1252 1448
2007 1577 1451 1385 1391 1406 1454 1376 1365 1268 1364 1363 1344 1395
2008 1729 1585 1352 1414 1416 1558 1573 1640 1604 1637 1947 1908 1614
2009 2130 2051 2106 2089 2210 2176 2282 2270 2219 2373 2323 2486 2226
2010 2539 2527 2255 2432 2223 2591 2622 2370 2548 2602 2531 2609 2487
2011 2800 2730 2434 2466 2206 2680 2785 2575 2511 2555 2591 2540 2573
2012 2809 2608 2352 2363 2423 2483 2529 2561 2517 2433 2505 2614 2516
2013 2443 2588 2326 2347 2164 2582 2414 2342 2302 2283 2096 2427 2360
2014 2592

Total Unemployment Rate U-6

12.7%

Series Id:           LNS13327709
Seasonally Adjusted
Series title:        (seas) Total unemployed, plus all marginally attached workers plus total employed part time for economic reasons, as a percent of all civilian labor force plus all marginally attached workers
Labor force status:  Aggregated totals unemployed
Type of data:        Percent or rate
Age:                 16 years and over
Percent/rates:       Unemployed and mrg attached and pt for econ reas as percent of labor force plus marg attached

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 7.1 7.2 7.1 6.9 7.1 7.0 7.0 7.1 7.0 6.8 7.1 6.9
2001 7.3 7.4 7.3 7.4 7.5 7.9 7.8 8.1 8.7 9.3 9.4 9.6
2002 9.5 9.5 9.4 9.7 9.5 9.5 9.6 9.6 9.6 9.6 9.7 9.8
2003 10.0 10.2 10.0 10.2 10.1 10.3 10.3 10.1 10.4 10.2 10.0 9.8
2004 9.9 9.7 10.0 9.6 9.6 9.5 9.5 9.4 9.4 9.7 9.4 9.2
2005 9.3 9.3 9.1 8.9 8.9 9.0 8.8 8.9 9.0 8.7 8.7 8.6
2006 8.4 8.4 8.2 8.1 8.2 8.4 8.5 8.4 8.0 8.2 8.1 7.9
2007 8.4 8.2 8.0 8.2 8.2 8.3 8.4 8.4 8.4 8.4 8.4 8.8
2008 9.2 9.0 9.1 9.2 9.7 10.1 10.5 10.8 11.0 11.8 12.6 13.6
2009 14.2 15.2 15.8 15.9 16.5 16.5 16.4 16.7 16.7 17.1 17.1 17.1
2010 16.7 17.0 17.1 17.2 16.6 16.4 16.4 16.5 16.8 16.6 16.9 16.6
2011 16.1 16.0 15.9 16.1 15.8 16.1 16.0 16.1 16.3 15.9 15.6 15.2
2012 15.1 15.0 14.5 14.6 14.8 14.8 14.9 14.7 14.7 14.4 14.4 14.4
2013 14.4 14.3 13.8 13.9 13.8 14.2 13.9 13.6 13.6 13.7 13.1 13.1
2014 12.7

Employment Situation Summary

Transmission of material in this release is embargoed until                      USDL-14-0168
8:30 a.m. (EST) Friday, February 7, 2014

Technical information:
Household data:        (202) 691-6378  •  cpsinfo@bls.gov  •  www.bls.gov/cps
Establishment data:    (202) 691-6555  •  cesinfo@bls.gov  •  www.bls.gov/ces

Media contact:         (202) 691-5902  •  PressOffice@bls.gov

                                 THE EMPLOYMENT SITUATION -- JANUARY 2014

Total nonfarm payroll employment rose by 113,000 in January, and the unemployment rate
was little changed at 6.6 percent, the U.S. Bureau of Labor Statistics reported today.
Employment grew in construction, manufacturing, wholesale trade, and mining. 

  ------------------------------------------------------------------------------------
 |                        Changes to the Employment Situation Data                    |
 |                                                                                    |
 |Establishment survey data have been revised as a result of the annual benchmarking  |
 |process and the updating of seasonal adjustment factors. Also, household survey data|
 |for January 2014 reflect updated population estimates. See the notes at the end of  |
 |this release for more information about these changes.                              |
 |                                                                                    |
  ------------------------------------------------------------------------------------

Household Survey Data

Both the number of unemployed persons, at 10.2 million, and the unemployment rate, at
6.6 percent, changed little in January. Since October, the jobless rate has decreased by
0.6 percentage point. (See table A-1.)  (See the note and tables B and C for information
about the effect of annual population adjustments to the household survey estimates.) 

Among the major worker groups, the unemployment rates for adult men (6.2 percent), adult
women (5.9 percent), teenagers (20.7 percent), whites (5.7 percent), blacks (12.1 percent),
and Hispanics (8.4 percent) showed little change in January. The jobless rate for Asians
was 4.8 percent (not seasonally adjusted), down by 1.7 percentage points over the year.
(See tables A-1, A-2, and A-3.)

The number of long-term unemployed (those jobless for 27 weeks or more), at 3.6 million,
declined by 232,000 in January. These individuals accounted for 35.8 percent of the
unemployed. The number of long-term unemployed has declined by 1.1 million over the year.
(See table A-12.)

After accounting for the annual adjustment to the population controls, the civilian labor
force rose by 499,000 in January, and the labor force participation rate edged up to 63.0
percent. Total employment, as measured by the household survey, increased by 616,000 over
the month, and the employment-population ratio increased by 0.2 percentage point to 58.8
percent. (See table A-1. For additional information about the effects of the population
adjustments, see table C.)

The number of persons employed part time for economic reasons (sometimes referred to as
involuntary part-time workers) fell by 514,000 to 7.3 million in January. These individuals
were working part time because their hours had been cut back or because they were unable to
find full-time work. (See table A-8.)

In January, 2.6 million persons were marginally attached to the labor force, little changed
from a year earlier. (The data are not seasonally adjusted.) These individuals were not in
the labor force, wanted and were available for work, and had looked for a job sometime in
the prior 12 months. They were not counted as unemployed because they had not searched for
work in the 4 weeks preceding the survey. (See table A-16.)

Among the marginally attached, there were 837,000 discouraged workers in January, about
unchanged from a year earlier. Discouraged workers are persons not currently looking for
work because they believe no jobs are available for them. The remaining 1.8 million persons
marginally attached to the labor force in January had not searched for work for reasons such
as school attendance or family responsibilities. (See table A-16.)

Establishment Survey Data

Total nonfarm payroll employment increased by 113,000 in January. In 2013, employment growth
averaged 194,000 per month. In January, job gains occurred in construction, manufacturing,
wholesale trade, and mining. (See table B-1.)

Construction added 48,000 jobs over the month, more than offsetting a decline of 22,000 in
December. In January, job gains occurred in both residential and nonresidential building
(+13,000 and +8,000, respectively) and in nonresidential specialty trade contractors
(+13,000). Heavy and civil engineering construction also added 10,000 jobs.

Employment in manufacturing increased in January (+21,000). Over the month, job gains
occurred in machinery (+7,000), wood products (+5,000), and motor vehicles and parts
(+5,000). Manufacturing added an average of 7,000 jobs per month in 2013.

In January, wholesale trade added 14,000 jobs, with most of the increase occurring in
nondurable goods (+10,000).

Mining added 7,000 jobs in January, compared with an average monthly gain of 2,000 jobs
in 2013.

Employment in professional and business services continued to trend up in January (+36,000).
The industry added an average of 55,000 jobs per month in 2013. Within the industry,
professional and technical services added 20,000 jobs in January. 

Leisure and hospitality employment continued to trend up over the month (+24,000). Job
growth in the industry averaged 38,000 per month in 2013. 

Employment in health care was essentially unchanged in January for the second consecutive
month.  Health care added an average of 17,000 jobs per month in 2013. 

Employment in retail trade changed little in January (-13,000). Within the industry, sporting
goods, hobby, book, and music stores lost 22,000 jobs, offsetting job gains in the prior 3
months. In January, motor vehicle and parts dealers added 7,000 jobs.

In January, federal government employment decreased by 12,000; the U.S. Postal Service
accounted for most of this decline (-9,000).

Employment in other major industries, including transportation and warehousing, information,
and financial activities, showed little or no change over the month.

In January, the average workweek for all employees on private nonfarm payrolls was unchanged
at 34.4 hours. The manufacturing workweek declined by 0.2 hour to 40.7 hours, and factory
overtime edged down by 0.1 hour to 3.4 hours. The average workweek for production and
nonsupervisory employees on private nonfarm payrolls was unchanged at 33.5 hours. (See
tables B-2 and B-7.)

Average hourly earnings for all employees on private nonfarm payrolls rose by 5 cents to
$24.21. Over the year, average hourly earnings have risen by 46 cents, or 1.9 percent. In
January, average hourly earnings of private-sector production and nonsupervisory employees
increased by 6 cents to $20.39. (See tables B-3 and B-8.)

The change in total nonfarm payroll employment for November was revised from +241,000 to
+274,000, and the change for December was revised from +74,000 to +75,000. With these
revisions, employment gains in November and December were 34,000 higher than previously
reported. Monthly revisions result from additional reports received from businesses since
the last published estimates and the monthly recalculation of seasonal factors. The annual
benchmark process also contributed to the revisions in this news release.

_____________
The Employment Situation for February is scheduled to be released on Friday, March 7, 2014,
at 8:30 a.m. (EST).

                                  Revisions to Establishment Survey Data

In accordance with annual practice, the establishment survey data released today have been
benchmarked to reflect comprehensive counts of payroll jobs for March 2013. These counts
are derived principally from the Quarterly Census of Employment and Wages (QCEW), which
enumerates jobs covered by the UI tax system. The benchmark process results in revisions
to not seasonally adjusted data from April 2012 forward. Seasonally adjusted data from
January 2009 forward are subject to revision. In addition, data for some series prior to
2009, both seasonally adjusted and unadjusted, incorporate revisions.

The total nonfarm employment level for March 2013 was revised upward by 369,000 (+347,000
on a not seasonally adjusted basis, or 0.3 percent). The average benchmark revision over
the past 10 years was plus or minus 0.3 percent. 

This revision incorporates the reclassification of jobs in the QCEW. Private household
employment is out of scope for the establishment survey. The QCEW reclassified some
private household employment into an industry that is in scope for the establishment
survey--services for the elderly and persons with disabilities. This reclassification
accounted for an increase of 466,000 jobs in the establishment survey. This increase of
466,000 associated with reclassification was offset by survey error of -119,000 for a
total net benchmark revision of +347,000 on a not seasonally adjusted basis. Historical
time series have been reconstructed to incorporate these revisions. 

The effect of these revisions on the underlying trend in nonfarm payroll employment was
minor. For example, the over-the-year change in total nonfarm employment for 2013 was
revised from 2,186,000 to 2,322,000 seasonally adjusted. Table A presents revised total
nonfarm employment data on a seasonally adjusted basis for January through December 2013.

All revised historical CES data, as well as an article that discusses the benchmark and
post-benchmark revisions and other technical issues can be accessed through the CES
homepage at www.bls.gov/ces/. Information on the data released today also may be obtained
by calling (202) 691-6555.

Table A. Revisions in total nonfarm employment, January-December 2013, seasonally adjusted
(Numbers in thousands)

------------------------------------------------------------------------------------------
                    |                                    |                                
                    |                Level               |      Over-the-month change     
                    |---------------------------------------------------------------------
    Year and month  |    As     |           |            |    As    |         |           
                    |previously |    As     | Difference |previously|   As    | Difference
                    |published  |  revised  |            |published | revised |           
------------------------------------------------------------------------------------------
                    |           |           |            |          |         |           
          2013      |           |           |            |          |         |           
                    |           |           |            |          |         |           
 January............|  134,839  |  135,261  |     422    |    148   |    197  |      49   
 February...........|  135,171  |  135,541  |     370    |    332   |    280  |     -52   
 March..............|  135,313  |  135,682  |     369    |    142   |    141  |      -1   
 April..............|  135,512  |  135,885  |     373    |    199   |    203  |       4   
 May................|  135,688  |  136,084  |     396    |    176   |    199  |      23   
 June...............|  135,860  |  136,285  |     425    |    172   |    201  |      29   
 July...............|  135,949  |  136,434  |     485    |     89   |    149  |      60   
 August.............|  136,187  |  136,636  |     449    |    238   |    202  |     -36   
 September..........|  136,362  |  136,800  |     438    |    175   |    164  |     -11   
 October............|  136,562  |  137,037  |     475    |    200   |    237  |      37   
 November...........|  136,803  |  137,311  |     508    |    241   |    274  |      33   
 December (p).......|  136,877  |  137,386  |     509    |     74   |     75  |       1   
------------------------------------------------------------------------------------------

   p = preliminary

                Adjustments to Population Estimates for the Household Survey

Effective with data for January 2014, updated population estimates have been used in the
household survey. Population estimates for the household survey are developed by the U.S.
Census Bureau. Each year, the Census Bureau updates the estimates to reflect new information
and assumptions about the growth of the population since the previous decennial census. The
change in population reflected in the new estimates results from adjustments for net
international migration, updated vital statistics and other information, and some
methodological changes in the estimation process. 

In accordance with usual practice, BLS will not revise the official household survey estimates
for December 2013 and earlier months. To show the impact of the population adjustments, however,
differences in selected December 2013 labor force series based on the old and new population
estimates are shown in table B. 

The adjustments increased the estimated size of the civilian noninstitutional population in
December by 2,000, the civilian labor force by 24,000, employment by 22,000, and unemployment
by 2,000. The number of persons not in the labor force was reduced by 22,000. The total
unemployment rate, employment-population ratio, and labor force participation rate were
unaffected. 

Data users are cautioned that these annual population adjustments can affect the comparability
of household data series over time. Table C shows the effect of the introduction of new
population estimates on the comparison of selected labor force measures between December 2013
and January 2014. Additional information on the population adjustments and their effect on
national labor force estimates is available at www.bls.gov/cps/cps14adj.pdf.

Table B. Effect of the updated population controls on December 2013 estimates by sex, race, and
Hispanic or Latino ethnicity, not seasonally adjusted
(Numbers in thousands)

__________________________________________________________________________________________________
                                        |      |     |      |       |        |       |            
                                        |      |     |      |       |  Black |       |            
                                        |      |     |      |       |    or  |       |  Hispanic  
                  Category              | Total| Men | Women| White | African| Asian | or Latino  
                                        |      |     |      |       |American|       | ethnicity  
                                        |      |     |      |       |        |       |            
________________________________________|______|_____|______|_______|________|_______|____________
                                        |      |     |      |       |        |       |            
  Civilian noninstitutional population..|    2 |  29 |  -27 |   -65 |     48 |    33 |     -57    
    Civilian labor force................|   24 |  24 |    0 |   -17 |     34 |    15 |     -38    
      Participation rate................|   .0 |  .0 |   .0 |    .0 |     .0 |    .0 |      .0    
     Employed...........................|   22 |  22 |    0 |   -16 |     31 |    14 |     -34    
      Employment-population ratio.......|   .0 |  .0 |   .0 |    .0 |     .0 |    .0 |      .0    
     Unemployed.........................|    2 |   3 |   -1 |    -1 |      4 |     1 |      -4    
      Unemployment rate.................|   .0 |  .0 |   .0 |    .0 |     .0 |    .0 |      .0    
    Not in labor force..................|  -22 |   4 |  -27 |   -48 |     14 |    18 |     -18    
________________________________________|______|_____|______|_______|________|_______|____________

   NOTE: Detail may not sum to totals because of rounding. Estimates for the above race groups
(white, black or African American, and Asian) do not sum to totals because data are not presented
for all races. Persons whose ethnicity is identified as Hispanic or Latino may be of any race.

Table C. December 2013-January 2014 changes in selected labor force measures,
with adjustments for population control effects
(Numbers in thousands)

______________________________________________________________________________
                                       |           |            |             
                                       |           |            |  Dec.-Jan.  
                                       | Dec.-Jan. |    2014    |   change,   
                                       |  change,  | population |  after re-  
                Category               |    as     |   control  |  moving the 
                                       | published |   effect   |  population 
                                       |           |            |   control   
                                       |           |            |  effect (1) 
_______________________________________|___________|____________|_____________
                                       |           |            |             
  Civilian noninstitutional population.|    170    |       2    |     168     
    Civilian labor force...............|    523    |      24    |     499     
      Participation rate...............|     .2    |      .0    |      .2     
     Employed..........................|    638    |      22    |     616     
      Employment-population ratio......|     .2    |      .0    |      .2     
     Unemployed........................|   -115    |       2    |    -117     
      Unemployment rate................|    -.1    |      .0    |     -.1     
    Not in labor force.................|   -353    |     -22    |    -331     
_______________________________________|___________|____________|_____________

   (1) This Dec.-Jan. change is calculated by subtracting the population 
control effect from the over-the-month change in the published seasonally
adjusted estimates.
   NOTE: Detail may not sum to totals because of rounding.

  ------------------------------------------------------------------------------------
 |                                                                                    |
 |                            Change to the Household Survey Tables                   |
 |                                                                                    |
 |Effective with this release, household survey table A-10 includes two new seasonally|
 |adjusted series for women age 55 and over--the number of unemployed persons and the |
 |unemployment rate. These replace the series that were previously displayed for this |
 |group, which were not seasonally adjusted.                                          |
 |                                                                                    |
  ------------------------------------------------------------------------------------

  ------------------------------------------------------------------------------------
 |                                                                                    |
 |               Updated Veteran Weighting Methodology for Household Survey           |
 |                                                                                    |
 |Beginning with data for January 2014, estimates for veterans in table A-5 of this   |
 |release incorporate updated weighting procedures. The new weighting methodology more|
 |accurately reflects the current demographic composition of the veteran population.  |
 |The primary impact of the change was an increase in the "Gulf War-era I" veteran    |
 |population and a decrease in the number of veterans in the "Other service periods"  |
 |category. The updated methodology had little effect on unemployment rates for       |
 |veterans, regardless of gender or period of service. Additional information on the  |
 |effect of the change on labor force estimates for veterans is available at          |
 |www.bls.gov/cps/vetsweights2014.pdf.                                                |
 |                                                                                    |
  ------------------------------------------------------------------------------------

Employment Situation Summary Table A. Household data, seasonally adjusted

HOUSEHOLD DATA
Summary table A. Household data, seasonally adjusted
[Numbers in thousands]

CategoryJan.
2013Nov.
2013Dec.
2013Jan.
2014Change from:
Dec.
2013-
Jan.
2014Employment status Civilian noninstitutional population244,663246,567246,745246,915-Civilian labor force155,699155,284154,937155,460-Participation rate63.663.062.863.0-Employed143,384144,443144,586145,224-Employment-population ratio58.658.658.658.8-Unemployed12,31510,84110,35110,236-Unemployment rate7.97.06.76.6-Not in labor force88,96391,28391,80891,455- Unemployment rates Total, 16 years and over7.97.06.76.6-Adult men (20 years and over)7.46.76.36.2-Adult women (20 years and over)7.26.26.05.9-Teenagers (16 to 19 years)23.520.820.220.7-White7.16.15.95.7-Black or African American13.812.411.912.1-Asian (not seasonally adjusted)6.55.34.14.8-Hispanic or Latino ethnicity9.78.78.38.4- Total, 25 years and over6.55.85.65.4-Less than a high school diploma12.010.69.89.6-High school graduates, no college8.17.37.16.5-Some college or associate degree7.06.46.16.0-Bachelor’s degree and higher3.83.43.33.2- Reason for unemployment Job losers and persons who completed temporary jobs6,6755,7315,3665,407-Job leavers984890862818-Reentrants3,5203,0653,0362,937-New entrants1,2741,1691,2011,184- Duration of unemployment Less than 5 weeks2,7532,4392,2552,434-5 to 14 weeks3,0772,5852,5062,429-15 to 26 weeks1,8671,7421,6511,689-27 weeks and over4,7074,0443,8783,646- Employed persons at work part time Part time for economic reasons7,9837,7237,7717,257-Slack work or business conditions5,1174,8694,8844,405-Could only find part-time work2,6132,4992,5922,571-Part time for noneconomic reasons18,55618,85818,73119,165- Persons not in the labor force (not seasonally adjusted) Marginally attached to the labor force2,4432,0962,4272,592-Discouraged workers804762917837– December – January changes in household data are not shown due to the introduction of updated population controls.
NOTE: Persons whose ethnicity is identified as Hispanic or Latino may be of any race. Detail for the seasonally adjusted data shown in this table will not necessarily add to totals because of the independent seasonal adjustment of the various series. Updated population controls are introduced annually with the release of January data.

Employment Situation Summary Table B. Establishment data, seasonally adjusted

ESTABLISHMENT DATA
Summary table B. Establishment data, seasonally adjusted
Category Jan.
2013
Nov.
2013
Dec.
2013(p)
Jan.
2014(p)
EMPLOYMENT BY SELECTED INDUSTRY
(Over-the-month change, in thousands)
Total nonfarm 197 274 75 113
Total private 219 272 89 142
Goods-producing 43 68 -13 76
Mining and logging 3 1 1 7
Construction 23 32 -22 48
Manufacturing 17 35 8 21
Durable goods(1) 9 19 2 15
Motor vehicles and parts 3.5 4.7 3.3 4.7
Nondurable goods 8 16 6 6
Private service-providing(1) 176 204 102 66
Wholesale trade 16.9 16.8 10.2 13.9
Retail trade 26.9 22.3 62.7 -12.9
Transportation and warehousing 9.8 32.4 10.6 9.9
Information -1 1 -10 0
Financial activities 8 -4 3 -2
Professional and business services(1) 45 73 4 36
Temporary help services 4.9 36.6 30.1 8.1
Education and health services(1) 17 25 -4 -6
Health care and social assistance 23.5 24.4 1.1 1.5
Leisure and hospitality 47 37 20 24
Other services 7 -1 7 4
Government -22 2 -14 -29
WOMEN AND PRODUCTION AND NONSUPERVISORY EMPLOYEES(2)
AS A PERCENT OF ALL EMPLOYEES
Total nonfarm women employees 49.4 49.5 49.5 49.4
Total private women employees 48.0 48.0 48.0 47.9
Total private production and nonsupervisory employees 82.6 82.6 82.6 82.6
HOURS AND EARNINGS
ALL EMPLOYEES
Total private
Average weekly hours 34.4 34.5 34.4 34.4
Average hourly earnings $23.75 $24.15 $24.16 $24.21
Average weekly earnings $817.00 $833.18 $831.10 $832.82
Index of aggregate weekly hours (2007=100)(3) 97.5 99.6 99.4 99.5
Over-the-month percent change 0.2 0.5 -0.2 0.1
Index of aggregate weekly payrolls (2007=100)(4) 110.5 114.8 114.6 114.9
Over-the-month percent change 0.4 0.8 -0.2 0.3
HOURS AND EARNINGS
PRODUCTION AND NONSUPERVISORY EMPLOYEES
Total private
Average weekly hours 33.6 33.7 33.5 33.5
Average hourly earnings $19.95 $20.30 $20.33 $20.39
Average weekly earnings $670.32 $684.11 $681.06 $683.07
Index of aggregate weekly hours (2002=100)(3) 104.9 107.1 106.6 106.7
Over-the-month percent change -0.2 0.5 -0.5 0.1
Index of aggregate weekly payrolls (2002=100)(4) 139.8 145.3 144.8 145.3
Over-the-month percent change 0.1 0.8 -0.3 0.3
DIFFUSION INDEX(5)
(Over 1-month span)
Total private (264 industries) 64.0 66.9 56.4 61.2
Manufacturing (81 industries) 56.8 65.4 59.9 54.3
Footnotes
(1) Includes other industries, not shown separately.
(2) Data relate to production employees in mining and logging and manufacturing, construction employees in construction, and nonsupervisory employees in the service-providing industries.
(3) The indexes of aggregate weekly hours are calculated by dividing the current month’s estimates of aggregate hours by the corresponding annual average aggregate hours.
(4) The indexes of aggregate weekly payrolls are calculated by dividing the current month’s estimates of aggregate weekly payrolls by the corresponding annual average aggregate weekly payrolls.
(5) Figures are the percent of industries with employment increasing plus one-half of the industries with unchanged employment, where 50 percent indicates an equal balance between industries with increasing and decreasing employment.
(p) Preliminary
NOTE: Data have been revised to reflect March 2013 benchmark levels and updated seasonal adjustment factors.

Weakness Continues as 113,000 Jobs Are Added in January

Employers added jobs at a slower-than-expected pace in January, the second month in a row that hiring has been disappointing and a sign that the labor market remains anemic despite indications of growth elsewhere in the economy.

Payrolls increased by 113,000, the Labor Department reported Friday morning, well below the gain of 180,000 that economists expected. The unemployment rate, based on a separate survey of households that was more encouraging, actually fell by a tenth of a percentage point, to 6.6 percent.

The data for January come after an even more disappointing report on the labor market for December, which was revised upward only slightly Friday, to show a gain of just 75,000 jobs, from 74,000. The level of hiring in January was also substantially below the average monthly gain of 178,000 positions over the last six months, as well as the monthly addition of 187,000 over the last year.

The two weak months in a row will prompt questions about whether the Federal Reserve acted prematurely when policy makers in December voted to begin scaling back the central bank’s expansive stimulus efforts.

The new data is not expected to alter the Fed’s course, economists said, but another poor report on hiring next month might force policy makers to rethink their plan when they next meet in late March.

“In one line: grim,” said Ian Shepherdson, chief economist at Pantheon Macroeconomics, in a note to clients Friday morning.

While seasonal adjustments may have played a role and upward revisions for hiring in October and November were more encouraging, he said, “The payroll rebound clearly is disappointing; none of the ground lost in December was recovered.”

Other economists conceded the picture for January was hardly bright, but cautioned it was too soon to conclude there had been a fundamental loss of momentum in the economy, especially given seasonal fluctuations in the data and the possibility that weather inhibited some hiring.

“We’re not seeing the takeoff that people wanted to see, but it’s not a disaster,” said Julia Coronado, chief economist for North America at BNP Paribas. “The 113,000 figure is definitely way below trend, but we want another month or two of data before we can draw conclusions.”

One mystery economists will be focusing on is why employment gains have not kept up with economic growth as measured by gross domestic product, which picked up substantially in the second half of 2013. The annualized pace of expansion was 3.2 percent in the fourth quarter, and 4.1 percent in the third quarter.

One reason may be that new technologies are allowing employers to make do with fewer workers, for instance the use of automated customer service systems instead of call centers, or Internet retailers’ taking over from brick-and-mortar stores where sales associates prowl the floors.

Another shift is evident from the yawning gap in employment for college graduates versus workers who lack a high school diploma. For people with a college degree or higher, the jobless rate was 3.1 percent, compared with 9.6 percent for Americans who did not finish high school.

Wintry conditions that held back hiring were blamed for the weakness in December, a theory popular among more optimistic economists after those numbers came out in early January.

But despite what seems like an endless series of snowstorms on the East Coast and arctic conditions in the Midwest recently, the reference week for the latest survey was Jan. 12-18, when conditions were fairly normal as Januaries go, limiting some of the impact of the weather in this report.

In the report on January, one sector holding back payrolls was the government, which shrank by 29,000 jobs in January. Excluding that loss, private employers added 142,000 positions, a slightly better showing.

Several other sectors which had been strong in recent months – education and health care as well as retailing – also lost positions, contributing to the overall weakness.

The falloff in hiring in the health care sector was especially notable. In December and January together, just 2,600 health care positions were filled. By contrast, as recently as November, nearly 25,000 health care workers were added to payrolls.

Although this area of the economy is going through a transformation as President Obama’s new health care plan is slowly introduced, that is unlikely to have caused the abrupt slowdown in hiring, said Ethan Harris, a head of global economics at Bank of America Merrill Lynch. If anything, he said, the law should create new jobs in the sector as health care coverage is expanded, even if higher costs for some employers result in job cuts elsewhere in the economy.

As for retail, which lost nearly 13,000 jobs in January, some of that reduction could have essentially been because of excessive hiring in December, Mr. Harris said, when stores added nearly 63,000 positions as the holiday shopping season peaked. The cuts may also have been spurred by weak results at some retailers, with chains like J. C. Penney announcing major job cuts last month, and Loehmann’s, the venerable discounter, now in liquidation.

The employment-population ratio, which has been falling as more workers drop out of the job market, edged up 0.2 percentage points to 58.8 percent. In recent years, the exit of people from the work force has reduced the unemployment rate, but it is a sign that people are giving up hope of finding a job in the face of slack conditions, hardly the way policy makers would like to see joblessness come down.

http://www.nytimes.com/2014/02/08/business/us-economy-adds-113000-jobs-unemployment-rate-at-6-6.html?_r=0

EMBARGOED UNTIL RELEASE AT 8:30 A.M. EST, THURSDAY, JANUARY 30, 2014
BEA 14-03

* See the navigation bar at the right side of the news release text for links to data tables,
contact personnel and their telephone numbers, and supplementary materials.

Lisa S. Mataloni: (202) 606-5304 (GDP) gdpniwd@bea.gov
Recorded message: (202) 606-5306
Jeannine Aversa: (202) 606-2649 (News Media)
National Income and Product Accounts
Gross Domestic Product, 4th quarter and annual 2013 (advance estimate)
      Real gross domestic product -- the output of goods and services produced by labor and property
located in the United States -- increased at an annual rate of 3.2 percent in the fourth quarter of 2013
(that is, from the third quarter to the fourth quarter), according to the "advance" estimate released by the
Bureau of Economic Analysis.  In the third quarter, real GDP increased 4.1 percent.

The Bureau emphasized that the fourth-quarter advance estimate released today is based on
source data that are incomplete or subject to further revision by the source agency (see the box on page 4
and “Comparisons of Revisions to GDP” on page 5). The “second” estimate for the fourth quarter, based
on more complete data, will be released on February 28, 2014.

The increase in real GDP in the fourth quarter primarily reflected positive contributions from
personal consumption expenditures (PCE), exports, nonresidential fixed investment, private inventory
investment, and state and local government spending that were partly offset by negative contributions
from federal government spending and residential fixed investment. Imports, which are a subtraction in
the calculation of GDP, increased.

The deceleration in real GDP in the fourth quarter reflected a deceleration in private inventory
investment, a larger decrease in federal government spending, a downturn in residential fixed
investment, and decelerations in state and local government spending and in nonresidential fixed
investment that were partly offset by accelerations in exports and in PCE and a deceleration in imports.

The price index for gross domestic purchases, which measures prices paid by U.S. residents,
increased 1.2 percent in the fourth quarter, compared with an increase of 1.8 percent in the third.
Excluding food and energy prices, the price index for gross domestic purchases increased 1.7 percent in
the fourth quarter, compared with an increase of 1.5 percent in the third.

_______
FOOTNOTE. Quarterly estimates are expressed at seasonally adjusted annual rates, unless otherwise
specified. Quarter-to-quarter dollar changes are differences between these published estimates. Percent
changes are calculated from unrounded data and are annualized. “Real” estimates are in chained (2009)
dollars. Price indexes are chain-type measures.

This news release is available on www.bea.gov along with the Technical Note and Highlights
related to this release.
_______

Real personal consumption expenditures increased 3.3 percent in the fourth quarter, compared
with an increase of 2.0 percent in the third. Durable goods increased 5.9 percent, compared with an
increase of 7.9 percent. Nondurable goods increased 4.4 percent, compared with an increase of 2.9
percent. Services increased 2.5 percent, compared with an increase of 0.7 percent.

Real nonresidential fixed investment increased 3.8 percent in the fourth quarter, compared with
an increase of 4.8 percent in the third. Nonresidential structures decreased 1.2 percent, in contrast to an
increase of 13.4 percent. Equipment increased 6.9 percent, compared with an increase of 0.2 percent.
Intellectual property products increased 3.2 percent, compared with an increase of 5.8 percent. Real
residential fixed investment decreased 9.8 percent, in contrast to an increase of 10.3 percent.

Real exports of goods and services increased 11.4 percent in the fourth quarter, compared with
an increase of 3.9 percent in the third. Real imports of goods and services increased 0.9 percent,
compared with an increase of 2.4 percent.

Real federal government consumption expenditures and gross investment decreased 12.6 percent
in the fourth quarter, compared with a decrease of 1.5 percent in the third. National defense decreased
14.0 percent, compared with a decrease of 0.5 percent. Nondefense decreased 10.3 percent, compared
with a decrease of 3.1 percent. Real state and local government consumption expenditures and gross
investment increased 0.5 percent, compared with an increase of 1.7 percent.

The change in real private inventories added 0.42 percentage point to the fourth-quarter change
in real GDP after adding 1.67 percentage points to the third-quarter change. Private businesses
increased inventories $127.2 billion in the fourth quarter, following increases of $115.7 billion in the
third quarter and $56.6 billion in the second.

Real final sales of domestic product — GDP less change in private inventories — increased 2.8
percent in the fourth quarter, compared with an increase of 2.5 percent in the third.

Gross domestic purchases

Real gross domestic purchases — purchases by U.S. residents of goods and services wherever
produced — increased 1.8 percent in the fourth quarter, compared with an increase of 3.9 percent in the
third.

Disposition of personal income

Current-dollar personal income increased $69.4 billion (2.0 percent) in the fourth quarter,
compared with an increase of $140.0 billion (4.0 percent) in the third. The deceleration in personal
income primarily reflected downturns in personal dividend income and in farm proprietors’ income and
a deceleration in personal current transfer receipts that were partly offset by an acceleration in wages
and salaries.

Personal current taxes increased $23.7 billion in the fourth quarter, in contrast to a decrease of
$11.0 billion in the third.

Disposable personal income increased $45.7 billion (1.5 percent) in the fourth quarter, compared
with an increase of $151.0 billion (5.0 percent) in the third. Real disposable personal income increased
0.8 percent in the fourth quarter, compared with an increase of 3.0 percent in the third.

Personal outlays increased $118.6 billion (4.0 percent) in the fourth quarter, compared with an
increase of $113.4 billion (3.9 percent) in the third. Personal saving — disposable personal income less
personal outlays — was $545.1 billion in the fourth quarter, compared with $618.0 billion in the third.

The personal saving rate — personal saving as a percentage of disposable personal income — was
4.3 percent in the fourth quarter, compared with 4.9 percent in the third. For a comparison of personal
saving in BEA’s national income and product accounts with personal saving in the Federal Reserve
Board’s financial accounts of the United States and data on changes in net worth, go to
www.bea.gov/national/nipaweb/Nipa-Frb.asp.

Current-dollar GDP

Current-dollar GDP — the market value of the nation’s output of goods and services — increased
4.6 percent, or $189.6 billion, in the fourth quarter to a level of $17,102.5 billion. In the third quarter,
current-dollar GDP increased 6.2 percent, or $251.9 billion.

2013 GDP

Real GDP increased 1.9 percent in 2013 (that is, from the 2012 annual level to the 2013 annual
level), compared with an increase of 2.8 percent in 2012.

The increase in real GDP in 2013 primarily reflected positive contributions from personal
consumption expenditures (PCE), exports, residential fixed investment, nonresidential fixed investment,
and private inventory investment that were partly offset by a negative contribution from federal
government spending. Imports, which are a subtraction in the calculation of GDP, increased.

The deceleration in real GDP in 2013 primarily reflected a deceleration in nonresidential fixed
investment, a larger decrease in federal government spending, and decelerations in PCE and in exports
that were partly offset by a deceleration in imports and a smaller decrease in state and local government
spending.

The price index for gross domestic purchases increased 1.2 percent in 2013, compared with an
increase of 1.7 percent in 2012.

Current-dollar GDP increased 3.4 percent, or $558.4 billion, in 2013, compared with an increase
of 4.6 percent, or $710.8 billion, in 2012.

During 2013 (that is, measured from the fourth quarter of 2012 to the fourth quarter of 2013) real
GDP increased 2.7 percent. Real GDP increased 2.0 percent during 2012. The price index for gross
domestic purchases increased 1.1 percent during 2013, compared with an increase of 1.5 percent in
2012.

________
BOX. Information on the assumptions used for unavailable source data is provided in a technical note
that is posted with the news release on BEA’s Web site. Within a few days after the release, a detailed
“Key Source Data and Assumptions” file is posted on the Web site. In the middle of each month, an analysis
of the current quarterly estimate of GDP and related series is made available on the Web site; click on
Survey of Current Business, “GDP and the Economy.” For information on revisions, see “Revisions to GDP, GDI,
and Their Major Components.

________

BEA’s national, international, regional, and industry estimates; the Survey of Current Business;
and BEA news releases are available without charge on BEA’s Web site at www.bea.gov. By visiting
the site, you can also subscribe to receive free e-mail summaries of BEA releases and announcements.

* * *

Next release — February 28, 2014 at 8:30 A.M. EST for:
Gross Domestic Product: Fourth Quarter and Annual 2013 (Second Estimate)

* * *

Release dates in 2014

Gross Domestic Product

2013: IV and 2013 annual 2014: I 2014: II 2014: III

Advance… January 30 April 30 July 30 October 30
Second…. February 28 May 29 August 28 November 25
Third….. March 27 June 25 September 26 December 23

Corporate Profits

Preliminary… …… May 29 August 28 November 25
Revised……. March 27 June 25 September 26 December 23

Comparisons of Revisions to GDP

Quarterly estimates of GDP are released on the following schedule: the “advance” estimate, based on
source data that are incomplete or subject to further revision by the source agency, is released near the end of the
first month after the end of the quarter; as more detailed and more comprehensive data become available,
the “second” and “third” estimates are released near the end of the second and third months, respectively.
The “latest”” estimate reflects the results of both annual and comprehensive revisions.

Annual revisions, which generally cover the quarters of the 3 most recent calendar years, are usually carried
out each summer and incorporate newly available major annual source data. Comprehensive (or benchmark)
revisions are carried out at about 5-year intervals and incorporate major periodic source data, as well as
improvements in concepts and methods that update the accounts to portray more accurately the evolving U.S.
economy.

The table below shows comparisons of the revisions between quarterly percent changes of current-dollar
and of real GDP for the different vintages of the estimates. From the advance estimate to the second estimate (one
month later), the average revision to real GDP without regard to sign is 0.5 percentage point, while from the
advance estimate to the third estimate (two months later), it is 0.6 percentage point. From the advance estimate to
the latest estimate, the average revision without regard to sign is 1.3 percentage points. The average revision
(with regard to sign) from the advance estimate to the latest estimate is 0.3 percentage point, which is larger
than the average revisions from the advance estimate to the second or to the third estimates. The larger average
revisions to the latest estimate reflect the fact that comprehensive revisions include major improvements, such as
the incorporation of BEA’s latest benchmark input-output accounts. The quarterly estimates correctly indicate the
direction of change of real GDP 97 percent of the time, correctly indicate whether GDP is accelerating or
decelerating 72 percent of the time, and correctly indicate whether real GDP growth is above, near, or below trend
growth more than four-fifths of the time.

Revisions Between Quarterly Percent Changes of GDP: Vintage Comparisons
[Annual rates]

Vintages Average Average without Standard deviation of
compared regard to sign revisions without
regard to sign

____________________________________________________Current-dollar GDP_______________________________________________

Advance to second……………….. 0.2 0.5 0.4
Advance to third………………… .2 .7 .4
Second to third…………………. .0 .3 .2

Advance to latest……………….. .3 1.3 1.0

________________________________________________________Real GDP_____________________________________________________

Advance to second……………….. 0.1 0.5 0.4
Advance to third………………… .1 .6 .4
Second to third…………………. .0 .2 .2

Advance to latest……………….. .3 1.3 1.0

NOTE. These comparisons are based on the period from 1983 through 2010.http://bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm

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Conservatives Push Misreading Of CBO Report To Claim Obamacare Is A Job-Killer

White House Pushing Back Against CBO Report On Obamacare Job Losses – America’s Newsroom

CBO: Actually, ObamaCare is kinda’ like a tax, and it’s going to result in 2 million…

Health Savings Account Breakdown

Health Savings Accounts

Deductibles and Coinsurances

Health Savings Account Safety Net

The CBO’s Obamacare Scorecard

Obamacare by the numbers, according to the Congressional Budget Office — labor lost: equivalent of 2.5 million full-time jobs over the next decade; insurance enrollment: down 1 million from earlier first-year estimate; cost: $1.2 trillion over the next decade; number of Americans uninsured: 30 million.

Which is to say: We are spending $1.2 trillion and taking a blowtorch to the work force in order to fund a semi-public insurance system that still leaves tens of millions uncovered. And that’s assuming that CBO has not taken too rosy a view of Obamacare, which it may well have.

There is more wrong with Obamacare than a bumble-thumbed website.

The White House has tried, with hilarious results, to spin the labor-force data, emphasizing the CBO’s estimate that the so-called Affordable Care Act will cost the economy the equivalent of 2.5 million full-time jobs not because there will be a pink-slip bloodbath at Walmart but because fewer people will choose to work, or will choose to work fewer hours, once their federally subsidized health insurance makes the prospect of quitting their jobs less enticing. In the considered view of the Obama administration, that is good news. We are happy to see that the White House seems finally to have stumbled upon the concept of economic incentives — give people less reason to work and they will work less. But the administration still does not seem to be able to get its collective head around the fact that American workers are not just hungry mouths that have to be filled with paychecks: They are people who provide economically valuable goods and services. Those 2.5 million out of the work force may be happier at their leisure, but the economy as a whole will be substantially worse off without their contributions. We could, in theory, simply have the federal government deliver checks to every household and allow each and every one to follow his bliss as he sees fit, but the shelves of the grocery stores soon would be empty. The depth of the Obamacare crater in the labor force isn’t some abstract unemployment rate, but the lost value of the work those Americans would have done.

The spending largely speaks for itself: $1.2 trillion is a great deal of money. The CBO still holds out the possibility that the expenses associated with the program may yet outweigh the cost of its benefits, meaning merely that that $1.2 trillion in spending will be accompanied by approximately $1.2 trillion in taxes, or slightly more. “Revenue-neutral” is not a synonym for “free.” We are still to spend $1.2 trillion, regardless of the combined ledger impact on our bloated deficit.

Spending $1.2 trillion on what? That is the most galling bit. Obamacare was sold as a response to the alleged emergency presented by 40-odd million Americans’ lacking insurance. That number was hotly disputed at the time, but even if we were to take it at face value, getting the figure down to 30 million at a cost of more than $1 trillion is hardly a bargain.

We are familiar with the phrase “money for nothing,” but had always understood it to denote a positive cash flow rather than a negative one.

We already have begun to experience the effects of Obamacare as they relate to health insurance specifically: canceled policies, chaos in the insurance markets, insecurity for consumers. But the more significant cost may in the long run prove to be its structural hobbling of our economy, reducing the work force and redirecting trillions of dollars away from the productive economy into a system of rewards and subsidies for cronies and political constituencies. The CBO’s increasingly bleak economic forecasts suggest that it has begun to take the measure of the long-term costs of the Obama administration’s economic misgovernance, of which Obamacare is one, but only one, significant part. But detailed as those estimates are, they can only begin to suggest the damage.

http://www.nationalreview.com/article/370367/cbos-obamacare-scorecard-editors

What the CBO report on Obamacare really found

  • BY GREG SARGENT

Republicans erupted in applause today when the Congressional Budget Office released a new report on projected deficits and on the impact of the Affordable Care Act. They widely claimed the CBO report had found that Obamacare will cause the loss of over two million jobs.

That isn’t what the report found at all. And there’s a very simple way to prove it. But more on that in a moment.

Here is a sample of GOP reactions to the report. Mitch McConnell’s spokesman claimedthat CBO had projected “a loss of at least two million jobs.” A spokesman for the NRCCinsisted that “because of Obamacare, there will be 2 million less [sic] jobs in the economy.”

A statement from Senator Chuck Grassley claimed that the CBO had found that the law will “cause the loss of 2.5 million jobs.” Former Romney policy adviser Lanhee Chenclaimed the CBO had estimated that Obamacare “will result in 2.5 million jobs lost.”

That’s not what the report says. Here is the key passage, on page 117:

Although CBO projects that total employment (and compensation) will increase over the coming decade, that increase will be smaller than it would have been in the absence of the aCA. The decline in full-time-equivalent employment stemming from the ACA will consist of some people not being employed at all and other people working fewer hours; however, CBO has not tried to quantify those two components of the overall effect. The estimated reduction stems almost entirely from a net decline in the amount of labor that workers choose to supply, rather than from a net drop in business’ demand for labor, so it will appear almost entirely as a reduction in labor force participation and in hours worked relative to what have occurred otherwise rather than as an increase in unemployment (that is, more workers seeking, but not finding jobs) or underemployment (such as part-time workers who would prefer to work more hours per week).

The CBO report actually says that the impact of the ACA will be “almost entirely” due to a decline in labor that “workers choose to supply.” It says explicitly that the ACA’s impact will not be felt as an “increase in unemployment” or “underemployment.”

Now, a few conservatives on twitter did seize on the report to make an argument about how the CBO report shows that the safety net act as a disincentive to work. Whether or not you agree with that argument, it at least exists within the parameters of what the CBO report actually said. The suggestion that Obamacare will cause over two million jobs to be lost does not. This is not a small distinction. It goes directly to the heart of one of the Republican arguments against the law — that it is a job killer, i.e., that its regulations strangle jobs.

Indeed, the response from many Republicans to the report suggests they are so wedded to their “Obamacare is a job killer” talking point that they will misrepresent what it actually says in order to continue making it. That’s not surprising, in a way. After all, the larger political context here is that claiming the safety net is a disincentive to work — again, whatever you think of the substance of that argument — is politically a hard case to make. Remember how Republicans moved away from arguing that unemployment benefits lull people into a state of dependency — Paul Ryan’s Hammock Theory of Poverty — and began arguing instead that the UI extension needed to be paid for?

As for the CBO report, there is a simple way to settle this argument. CBO director Douglas Elmendorf is set to testify before the House Budget Committee tomorrow. One committee lawmaker can ask him the following question: Is it true that your report found that Obamacare will result in over two million lost jobs?

And so, this doesn’t have to be a partisan argument. Tomorrow we can find out what the CBO’s own director has to say about it. There shouldn’t be any need for this to be represented by neutral news orgs as an unresolvable he-said-she-said standoff.

http://www.washingtonpost.com/blogs/plum-line/wp/2014/02/04/what-the-cbo-report-on-obamacare-really-found/

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Making Sense of Today’s January Jobs Report

February 7th 2014 CNBC Stock Market Squawk Box (January Jobs Report)

gdp_large

sgs-emp

non-farm-payrolls-wide-201312

Employment Level

145,224,000

Series Id:           LNS12000000
Seasonally Adjusted
Series title:        (Seas) Employment Level
Labor force status:  Employed
Type of data:        Number in thousands
Age:                 16 years and over

employment_level
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 136559(1) 136598 136701 137270 136630 136940 136531 136662 136893 137088 137322 137614
2001 137778 137612 137783 137299 137092 136873 137071 136241 136846 136392 136238 136047
2002 135701 136438 136177 136126 136539 136415 136413 136705 137302 137008 136521 136426
2003 137417(1) 137482 137434 137633 137544 137790 137474 137549 137609 137984 138424 138411
2004 138472(1) 138542 138453 138680 138852 139174 139556 139573 139487 139732 140231 140125
2005 140245(1) 140385 140654 141254 141609 141714 142026 142434 142401 142548 142499 142752
2006 143150(1) 143457 143741 143761 144089 144353 144202 144625 144815 145314 145534 145970
2007 146028(1) 146057 146320 145586 145903 146063 145905 145682 146244 145946 146595 146273
2008 146378(1) 146156 146086 146132 145908 145737 145532 145203 145076 144802 144100 143369
2009 142152(1) 141640 140707 140656 140248 140009 139901 139492 138818 138432 138659 138013
2010 138451(1) 138599 138752 139309 139247 139148 139179 139427 139393 139111 139030 139266
2011 139287(1) 139422 139655 139622 139653 139409 139524 139904 140154 140335 140747 140836
2012 141677(1) 141943 142079 141963 142257 142432 142272 142204 142947 143369 143233 143212
2013 143384(1) 143464 143393 143676 143919 144075 144285 144179 144270 143485 144443 144586
2014 145224(1)

Civilian Labor Force

155,460,000

Series Id:           LNS11000000
Seasonally Adjusted
Series title:        (Seas) Civilian Labor Force Level
Labor force status:  Civilian labor force
Type of data:        Number in thousands
Age:                 16 years and over

Civilian_Labor_Force_Level

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 142267(1) 142456 142434 142751 142388 142591 142278 142514 142518 142622 142962 143248
2001 143800 143701 143924 143569 143318 143357 143654 143284 143989 144086 144240 144305
2002 143883 144653 144481 144725 144938 144808 144803 145009 145552 145314 145041 145066
2003 145937(1) 146100 146022 146474 146500 147056 146485 146445 146530 146716 147000 146729
2004 146842(1) 146709 146944 146850 147065 147460 147692 147564 147415 147793 148162 148059
2005 148029(1) 148364 148391 148926 149261 149238 149432 149779 149954 150001 150065 150030
2006 150214(1) 150641 150813 150881 151069 151354 151377 151716 151662 152041 152406 152732
2007 153144(1) 152983 153051 152435 152670 153041 153054 152749 153414 153183 153835 153918
2008 154063(1) 153653 153908 153769 154303 154313 154469 154641 154570 154876 154639 154655
2009 154210(1) 154538 154133 154509 154747 154716 154502 154307 153827 153784 153878 153111
2010 153404(1) 153720 153964 154642 154106 153631 153706 154087 153971 153631 154127 153639
2011 153198(1) 153280 153403 153566 153526 153379 153309 153724 154059 153940 154072 153927
2012 154328(1) 154826 154811 154565 154946 155134 154970 154669 155018 155507 155279 155485
2013 155699(1) 155511 155099 155359 155609 155822 155693 155435 155473 154625 155284 154937
2014 155460(1)

Labor Force Participation Rate

63.0%

Series Id:           LNS11300000
Seasonally Adjusted
Series title:        (Seas) Labor Force Participation Rate
Labor force status:  Civilian labor force participation rate
Type of data:        Percent or rate
Age:                 16 years and over

labor_participation_rate

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 67.3 67.3 67.3 67.3 67.1 67.1 66.9 66.9 66.9 66.8 66.9 67.0
2001 67.2 67.1 67.2 66.9 66.7 66.7 66.8 66.5 66.8 66.7 66.7 66.7
2002 66.5 66.8 66.6 66.7 66.7 66.6 66.5 66.6 66.7 66.6 66.4 66.3
2003 66.4 66.4 66.3 66.4 66.4 66.5 66.2 66.1 66.1 66.1 66.1 65.9
2004 66.1 66.0 66.0 65.9 66.0 66.1 66.1 66.0 65.8 65.9 66.0 65.9
2005 65.8 65.9 65.9 66.1 66.1 66.1 66.1 66.2 66.1 66.1 66.0 66.0
2006 66.0 66.1 66.2 66.1 66.1 66.2 66.1 66.2 66.1 66.2 66.3 66.4
2007 66.4 66.3 66.2 65.9 66.0 66.0 66.0 65.8 66.0 65.8 66.0 66.0
2008 66.2 66.0 66.1 65.9 66.1 66.1 66.1 66.1 66.0 66.0 65.9 65.8
2009 65.7 65.8 65.6 65.7 65.7 65.7 65.5 65.4 65.1 65.0 65.0 64.6
2010 64.8 64.9 64.9 65.2 64.9 64.6 64.6 64.7 64.6 64.4 64.6 64.3
2011 64.2 64.2 64.2 64.2 64.2 64.0 64.0 64.1 64.2 64.1 64.1 64.0
2012 63.7 63.9 63.8 63.7 63.8 63.8 63.7 63.5 63.6 63.7 63.6 63.6
2013 63.6 63.5 63.3 63.4 63.4 63.5 63.4 63.2 63.2 62.8 63.0 62.8
2014 63.0

Unemployment Level

10,236,000

Series Id:           LNS13000000
Seasonally Adjusted
Series title:        (Seas) Unemployment Level
Labor force status:  Unemployed
Type of data:        Number in thousands
Age:                 16 years and over

unemployment_level

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 5708 5858 5733 5481 5758 5651 5747 5853 5625 5534 5639 5634
2001 6023 6089 6141 6271 6226 6484 6583 7042 7142 7694 8003 8258
2002 8182 8215 8304 8599 8399 8393 8390 8304 8251 8307 8520 8640
2003 8520 8618 8588 8842 8957 9266 9011 8896 8921 8732 8576 8317
2004 8370 8167 8491 8170 8212 8286 8136 7990 7927 8061 7932 7934
2005 7784 7980 7737 7672 7651 7524 7406 7345 7553 7453 7566 7279
2006 7064 7184 7072 7120 6980 7001 7175 7091 6847 6727 6872 6762
2007 7116 6927 6731 6850 6766 6979 7149 7067 7170 7237 7240 7645
2008 7685 7497 7822 7637 8395 8575 8937 9438 9494 10074 10538 11286
2009 12058 12898 13426 13853 14499 14707 14601 14814 15009 15352 15219 15098
2010 14953 15121 15212 15333 14858 14483 14527 14660 14578 14520 15097 14373
2011 13910 13858 13748 13944 13873 13971 13785 13820 13905 13604 13326 13090
2012 12650 12883 12732 12603 12689 12702 12698 12464 12070 12138 12045 12273
2013 12315 12047 11706 11683 11690 11747 11408 11256 11203 11140 10841 10351
2014 10236

Unemployment Rate

6.6%

Series Id:           LNS14000000
Seasonally Adjusted
Series title:        (Seas) Unemployment Rate
Labor force status:  Unemployment rate
Type of data:        Percent or rate
Age:                 16 years and over

unemployment_rate_U_3
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 4.0 4.1 4.0 3.8 4.0 4.0 4.0 4.1 3.9 3.9 3.9 3.9
2001 4.2 4.2 4.3 4.4 4.3 4.5 4.6 4.9 5.0 5.3 5.5 5.7
2002 5.7 5.7 5.7 5.9 5.8 5.8 5.8 5.7 5.7 5.7 5.9 6.0
2003 5.8 5.9 5.9 6.0 6.1 6.3 6.2 6.1 6.1 6.0 5.8 5.7
2004 5.7 5.6 5.8 5.6 5.6 5.6 5.5 5.4 5.4 5.5 5.4 5.4
2005 5.3 5.4 5.2 5.2 5.1 5.0 5.0 4.9 5.0 5.0 5.0 4.9
2006 4.7 4.8 4.7 4.7 4.6 4.6 4.7 4.7 4.5 4.4 4.5 4.4
2007 4.6 4.5 4.4 4.5 4.4 4.6 4.7 4.6 4.7 4.7 4.7 5.0
2008 5.0 4.9 5.1 5.0 5.4 5.6 5.8 6.1 6.1 6.5 6.8 7.3
2009 7.8 8.3 8.7 9.0 9.4 9.5 9.5 9.6 9.8 10.0 9.9 9.9
2010 9.7 9.8 9.9 9.9 9.6 9.4 9.5 9.5 9.5 9.5 9.8 9.4
2011 9.1 9.0 9.0 9.1 9.0 9.1 9.0 9.0 9.0 8.8 8.6 8.5
2012 8.2 8.3 8.2 8.2 8.2 8.2 8.2 8.1 7.8 7.8 7.8 7.9
2013 7.9 7.7 7.5 7.5 7.5 7.5 7.3 7.2 7.2 7.2 7.0 6.7
2014 6.6

Employment-Population Ratio

58.8%

Series Id:           LNS12300000
Seasonally Adjusted
Series title:        (Seas) Employment-Population Ratio
Labor force status:  Employment-population ratio
Type of data:        Percent or rate
Age:                 16 years and over
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 64.6 64.6 64.6 64.7 64.4 64.5 64.2 64.2 64.2 64.2 64.3 64.4
2001 64.4 64.3 64.3 64.0 63.8 63.7 63.7 63.2 63.5 63.2 63.0 62.9
2002 62.7 63.0 62.8 62.7 62.9 62.7 62.7 62.7 63.0 62.7 62.5 62.4
2003 62.5 62.5 62.4 62.4 62.3 62.3 62.1 62.1 62.0 62.1 62.3 62.2
2004 62.3 62.3 62.2 62.3 62.3 62.4 62.5 62.4 62.3 62.3 62.5 62.4
2005 62.4 62.4 62.4 62.7 62.8 62.7 62.8 62.9 62.8 62.8 62.7 62.8
2006 62.9 63.0 63.1 63.0 63.1 63.1 63.0 63.1 63.1 63.3 63.3 63.4
2007 63.3 63.3 63.3 63.0 63.0 63.0 62.9 62.7 62.9 62.7 62.9 62.7
2008 62.9 62.8 62.7 62.7 62.5 62.4 62.2 62.0 61.9 61.7 61.4 61.0
2009 60.6 60.3 59.9 59.8 59.6 59.4 59.3 59.1 58.7 58.5 58.6 58.3
2010 58.5 58.5 58.5 58.7 58.6 58.5 58.5 58.6 58.5 58.3 58.2 58.3
2011 58.4 58.4 58.4 58.4 58.4 58.2 58.2 58.3 58.4 58.4 58.5 58.5
2012 58.5 58.5 58.6 58.5 58.6 58.6 58.5 58.4 58.6 58.8 58.7 58.6
2013 58.6 58.6 58.5 58.6 58.7 58.7 58.7 58.6 58.6 58.2 58.6 58.6
2014 58.8

Unemployment Rate – 16-19 Yrs

20.7%

Series Id:           LNS14000012
Seasonally Adjusted
Series title:        (Seas) Unemployment Rate - 16-19 yrs.
Labor force status:  Unemployment rate
Type of data:        Percent or rate
Age:                 16 to 19 years

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 12.7 13.8 13.3 12.6 12.8 12.3 13.4 14.0 13.0 12.8 13.0 13.2
2001 13.8 13.7 13.8 13.9 13.4 14.2 14.4 15.6 15.2 16.0 15.9 17.0
2002 16.5 16.0 16.6 16.7 16.6 16.7 16.8 17.0 16.3 15.1 17.1 16.9
2003 17.2 17.2 17.8 17.7 17.9 19.0 18.2 16.6 17.6 17.2 15.7 16.2
2004 17.0 16.5 16.8 16.6 17.1 17.0 17.8 16.7 16.6 17.4 16.4 17.6
2005 16.2 17.5 17.1 17.8 17.8 16.3 16.1 16.1 15.5 16.1 17.0 14.9
2006 15.1 15.3 16.1 14.6 14.0 15.8 15.9 16.0 16.3 15.2 14.8 14.6
2007 14.8 14.9 14.9 15.9 15.9 16.3 15.3 15.9 15.9 15.4 16.2 16.8
2008 17.8 16.6 16.1 15.9 19.0 19.2 20.7 18.6 19.1 20.0 20.3 20.5
2009 20.7 22.3 22.2 22.2 23.4 24.7 24.3 25.0 25.9 27.2 26.9 26.7
2010 26.0 25.6 26.2 25.4 26.5 26.0 25.9 25.6 25.8 27.3 24.8 25.3
2011 25.5 24.1 24.3 24.5 23.9 24.8 24.8 25.1 24.5 24.2 24.1 23.3
2012 23.5 23.8 24.8 24.6 24.2 23.7 23.7 24.4 23.8 23.8 23.9 24.0
2013 23.5 25.2 23.9 23.7 24.1 23.8 23.4 22.6 21.3 22.0 20.8 20.2
2014 20.7

Average Weeks Unemployed

35.4 Weeks

Series Id:           LNS13008275
Seasonally Adjusted
Series title:        (Seas) Average Weeks Unemployed
Labor force status:  Unemployed
Type of data:        Number of weeks
Age:                 16 years and over
average_weeks_unemployed
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 13.1 12.6 12.7 12.4 12.6 12.3 13.4 12.9 12.2 12.7 12.4 12.5
2001 12.7 12.8 12.8 12.4 12.1 12.7 12.9 13.3 13.2 13.3 14.3 14.5
2002 14.7 15.0 15.4 16.3 16.8 16.9 16.9 16.5 17.6 17.8 17.6 18.5
2003 18.5 18.5 18.1 19.4 19.0 19.9 19.7 19.2 19.5 19.3 19.9 19.8
2004 19.9 20.1 19.8 19.6 19.8 20.5 18.8 18.8 19.4 19.5 19.7 19.4
2005 19.5 19.1 19.5 19.6 18.6 17.9 17.6 18.4 17.9 17.9 17.5 17.5
2006 16.9 17.8 17.1 16.7 17.1 16.6 17.1 17.1 17.1 16.3 16.2 16.1
2007 16.3 16.7 17.8 16.9 16.6 16.5 17.2 17.0 16.3 17.0 17.3 16.6
2008 17.5 16.9 16.5 16.9 16.6 17.1 17.0 17.7 18.6 19.9 18.9 19.9
2009 19.8 20.2 20.9 21.7 22.4 23.9 25.1 25.3 26.6 27.5 28.9 29.7
2010 30.3 29.9 31.6 33.3 33.9 34.5 33.8 33.6 33.4 34.2 33.9 34.8
2011 37.2 37.5 39.2 38.7 39.5 39.7 40.4 40.2 40.2 39.1 40.3 40.7
2012 40.1 40.0 39.4 39.3 39.6 40.0 38.8 39.1 39.4 40.3 39.2 38.0
2013 35.4 36.9 37.0 36.6 36.9 35.7 36.7 37.0 36.8 36.0 37.1 37.1
2014 35.4

Median Weeks Unemployed

16.0 weeks

Series Id:           LNS13008276
Seasonally Adjusted
Series title:        (Seas) Median Weeks Unemployed
Labor force status:  Unemployed
Type of data:        Number of weeks
Age:                 16 years and over

median_weeks_unemployed

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 5.8 6.1 6.0 6.1 5.8 5.7 6.0 6.3 5.2 6.1 6.1 6.0
2001 5.8 6.1 6.6 5.9 6.3 6.0 6.8 6.9 7.2 7.3 7.7 8.2
2002 8.4 8.3 8.4 8.9 9.5 11.0 8.9 9.0 9.5 9.6 9.3 9.6
2003 9.6 9.5 9.7 10.2 9.9 11.5 10.3 10.1 10.2 10.4 10.3 10.4
2004 10.6 10.2 10.2 9.5 9.9 11.0 8.9 9.2 9.6 9.5 9.7 9.5
2005 9.4 9.2 9.3 9.0 9.1 9.0 8.8 9.2 8.4 8.6 8.5 8.7
2006 8.6 9.1 8.7 8.4 8.5 7.3 8.0 8.4 8.0 7.9 8.3 7.5
2007 8.3 8.5 9.1 8.6 8.2 7.7 8.7 8.8 8.7 8.4 8.6 8.4
2008 9.0 8.7 8.7 9.4 7.9 9.0 9.7 9.7 10.2 10.4 9.8 10.5
2009 10.7 11.7 12.3 13.1 14.2 17.2 16.0 16.3 17.8 18.9 19.8 20.1
2010 20.0 19.9 20.5 22.1 22.3 25.0 22.2 20.9 20.2 21.4 21.0 22.0
2011 21.5 21.2 21.7 20.9 21.6 22.1 21.8 22.2 21.9 20.7 20.9 20.6
2012 20.9 20.0 19.6 19.2 19.8 19.8 17.2 18.2 18.7 20.0 18.6 17.8
2013 16.0 17.7 18.1 17.3 16.9 16.2 15.8 16.5 16.4 16.5 17.0 17.1
2014 16.0

Not in Labor Force, Searched for Work and Available

2,592,000

Series Id:                       LNU05026642
Not Seasonally Adjusted
Series title:                    (Unadj) Not in Labor Force, Searched For Work and Available
Labor force status:              Not in labor force
Type of data:                    Number in thousands
Age:                             16 years and over
Job desires/not in labor force:  Want a job now
Reasons not in labor force:      Available to work now
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 1207 1281 1219 1216 1113 1142 1172 1097 1166 1044 1100 1125 1157
2001 1295 1337 1109 1131 1157 1170 1232 1364 1335 1398 1331 1330 1266
2002 1532 1423 1358 1397 1467 1380 1507 1456 1501 1416 1401 1432 1439
2003 1598 1590 1577 1399 1428 1468 1566 1665 1544 1586 1473 1483 1531
2004 1670 1691 1643 1526 1533 1492 1557 1587 1561 1647 1517 1463 1574
2005 1804 1673 1588 1511 1428 1583 1516 1583 1438 1414 1415 1589 1545
2006 1644 1471 1468 1310 1388 1584 1522 1592 1299 1478 1366 1252 1448
2007 1577 1451 1385 1391 1406 1454 1376 1365 1268 1364 1363 1344 1395
2008 1729 1585 1352 1414 1416 1558 1573 1640 1604 1637 1947 1908 1614
2009 2130 2051 2106 2089 2210 2176 2282 2270 2219 2373 2323 2486 2226
2010 2539 2527 2255 2432 2223 2591 2622 2370 2548 2602 2531 2609 2487
2011 2800 2730 2434 2466 2206 2680 2785 2575 2511 2555 2591 2540 2573
2012 2809 2608 2352 2363 2423 2483 2529 2561 2517 2433 2505 2614 2516
2013 2443 2588 2326 2347 2164 2582 2414 2342 2302 2283 2096 2427 2360
2014 2592

Total Unemployment Rate U-6

12.7%

Series Id:           LNS13327709
Seasonally Adjusted
Series title:        (seas) Total unemployed, plus all marginally attached workers plus total employed part time for economic reasons, as a percent of all civilian labor force plus all marginally attached workers
Labor force status:  Aggregated totals unemployed
Type of data:        Percent or rate
Age:                 16 years and over
Percent/rates:       Unemployed and mrg attached and pt for econ reas as percent of labor force plus marg attached

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 7.1 7.2 7.1 6.9 7.1 7.0 7.0 7.1 7.0 6.8 7.1 6.9
2001 7.3 7.4 7.3 7.4 7.5 7.9 7.8 8.1 8.7 9.3 9.4 9.6
2002 9.5 9.5 9.4 9.7 9.5 9.5 9.6 9.6 9.6 9.6 9.7 9.8
2003 10.0 10.2 10.0 10.2 10.1 10.3 10.3 10.1 10.4 10.2 10.0 9.8
2004 9.9 9.7 10.0 9.6 9.6 9.5 9.5 9.4 9.4 9.7 9.4 9.2
2005 9.3 9.3 9.1 8.9 8.9 9.0 8.8 8.9 9.0 8.7 8.7 8.6
2006 8.4 8.4 8.2 8.1 8.2 8.4 8.5 8.4 8.0 8.2 8.1 7.9
2007 8.4 8.2 8.0 8.2 8.2 8.3 8.4 8.4 8.4 8.4 8.4 8.8
2008 9.2 9.0 9.1 9.2 9.7 10.1 10.5 10.8 11.0 11.8 12.6 13.6
2009 14.2 15.2 15.8 15.9 16.5 16.5 16.4 16.7 16.7 17.1 17.1 17.1
2010 16.7 17.0 17.1 17.2 16.6 16.4 16.4 16.5 16.8 16.6 16.9 16.6
2011 16.1 16.0 15.9 16.1 15.8 16.1 16.0 16.1 16.3 15.9 15.6 15.2
2012 15.1 15.0 14.5 14.6 14.8 14.8 14.9 14.7 14.7 14.4 14.4 14.4
2013 14.4 14.3 13.8 13.9 13.8 14.2 13.9 13.6 13.6 13.7 13.1 13.1
2014 12.7

Employment Situation Summary

Transmission of material in this release is embargoed until                      USDL-14-0168
8:30 a.m. (EST) Friday, February 7, 2014

Technical information:
Household data:        (202) 691-6378  •  cpsinfo@bls.gov  •  www.bls.gov/cps
Establishment data:    (202) 691-6555  •  cesinfo@bls.gov  •  www.bls.gov/ces

Media contact:         (202) 691-5902  •  PressOffice@bls.gov

                                 THE EMPLOYMENT SITUATION -- JANUARY 2014

Total nonfarm payroll employment rose by 113,000 in January, and the unemployment rate
was little changed at 6.6 percent, the U.S. Bureau of Labor Statistics reported today.
Employment grew in construction, manufacturing, wholesale trade, and mining. 

  ------------------------------------------------------------------------------------
 |                        Changes to the Employment Situation Data                    |
 |                                                                                    |
 |Establishment survey data have been revised as a result of the annual benchmarking  |
 |process and the updating of seasonal adjustment factors. Also, household survey data|
 |for January 2014 reflect updated population estimates. See the notes at the end of  |
 |this release for more information about these changes.                              |
 |                                                                                    |
  ------------------------------------------------------------------------------------

Household Survey Data

Both the number of unemployed persons, at 10.2 million, and the unemployment rate, at
6.6 percent, changed little in January. Since October, the jobless rate has decreased by
0.6 percentage point. (See table A-1.)  (See the note and tables B and C for information
about the effect of annual population adjustments to the household survey estimates.) 

Among the major worker groups, the unemployment rates for adult men (6.2 percent), adult
women (5.9 percent), teenagers (20.7 percent), whites (5.7 percent), blacks (12.1 percent),
and Hispanics (8.4 percent) showed little change in January. The jobless rate for Asians
was 4.8 percent (not seasonally adjusted), down by 1.7 percentage points over the year.
(See tables A-1, A-2, and A-3.)

The number of long-term unemployed (those jobless for 27 weeks or more), at 3.6 million,
declined by 232,000 in January. These individuals accounted for 35.8 percent of the
unemployed. The number of long-term unemployed has declined by 1.1 million over the year.
(See table A-12.)

After accounting for the annual adjustment to the population controls, the civilian labor
force rose by 499,000 in January, and the labor force participation rate edged up to 63.0
percent. Total employment, as measured by the household survey, increased by 616,000 over
the month, and the employment-population ratio increased by 0.2 percentage point to 58.8
percent. (See table A-1. For additional information about the effects of the population
adjustments, see table C.)

The number of persons employed part time for economic reasons (sometimes referred to as
involuntary part-time workers) fell by 514,000 to 7.3 million in January. These individuals
were working part time because their hours had been cut back or because they were unable to
find full-time work. (See table A-8.)

In January, 2.6 million persons were marginally attached to the labor force, little changed
from a year earlier. (The data are not seasonally adjusted.) These individuals were not in
the labor force, wanted and were available for work, and had looked for a job sometime in
the prior 12 months. They were not counted as unemployed because they had not searched for
work in the 4 weeks preceding the survey. (See table A-16.)

Among the marginally attached, there were 837,000 discouraged workers in January, about
unchanged from a year earlier. Discouraged workers are persons not currently looking for
work because they believe no jobs are available for them. The remaining 1.8 million persons
marginally attached to the labor force in January had not searched for work for reasons such
as school attendance or family responsibilities. (See table A-16.)

Establishment Survey Data

Total nonfarm payroll employment increased by 113,000 in January. In 2013, employment growth
averaged 194,000 per month. In January, job gains occurred in construction, manufacturing,
wholesale trade, and mining. (See table B-1.)

Construction added 48,000 jobs over the month, more than offsetting a decline of 22,000 in
December. In January, job gains occurred in both residential and nonresidential building
(+13,000 and +8,000, respectively) and in nonresidential specialty trade contractors
(+13,000). Heavy and civil engineering construction also added 10,000 jobs.

Employment in manufacturing increased in January (+21,000). Over the month, job gains
occurred in machinery (+7,000), wood products (+5,000), and motor vehicles and parts
(+5,000). Manufacturing added an average of 7,000 jobs per month in 2013.

In January, wholesale trade added 14,000 jobs, with most of the increase occurring in
nondurable goods (+10,000).

Mining added 7,000 jobs in January, compared with an average monthly gain of 2,000 jobs
in 2013.

Employment in professional and business services continued to trend up in January (+36,000).
The industry added an average of 55,000 jobs per month in 2013. Within the industry,
professional and technical services added 20,000 jobs in January. 

Leisure and hospitality employment continued to trend up over the month (+24,000). Job
growth in the industry averaged 38,000 per month in 2013. 

Employment in health care was essentially unchanged in January for the second consecutive
month.  Health care added an average of 17,000 jobs per month in 2013. 

Employment in retail trade changed little in January (-13,000). Within the industry, sporting
goods, hobby, book, and music stores lost 22,000 jobs, offsetting job gains in the prior 3
months. In January, motor vehicle and parts dealers added 7,000 jobs.

In January, federal government employment decreased by 12,000; the U.S. Postal Service
accounted for most of this decline (-9,000).

Employment in other major industries, including transportation and warehousing, information,
and financial activities, showed little or no change over the month.

In January, the average workweek for all employees on private nonfarm payrolls was unchanged
at 34.4 hours. The manufacturing workweek declined by 0.2 hour to 40.7 hours, and factory
overtime edged down by 0.1 hour to 3.4 hours. The average workweek for production and
nonsupervisory employees on private nonfarm payrolls was unchanged at 33.5 hours. (See
tables B-2 and B-7.)

Average hourly earnings for all employees on private nonfarm payrolls rose by 5 cents to
$24.21. Over the year, average hourly earnings have risen by 46 cents, or 1.9 percent. In
January, average hourly earnings of private-sector production and nonsupervisory employees
increased by 6 cents to $20.39. (See tables B-3 and B-8.)

The change in total nonfarm payroll employment for November was revised from +241,000 to
+274,000, and the change for December was revised from +74,000 to +75,000. With these
revisions, employment gains in November and December were 34,000 higher than previously
reported. Monthly revisions result from additional reports received from businesses since
the last published estimates and the monthly recalculation of seasonal factors. The annual
benchmark process also contributed to the revisions in this news release.

_____________
The Employment Situation for February is scheduled to be released on Friday, March 7, 2014,
at 8:30 a.m. (EST).

                                  Revisions to Establishment Survey Data

In accordance with annual practice, the establishment survey data released today have been
benchmarked to reflect comprehensive counts of payroll jobs for March 2013. These counts
are derived principally from the Quarterly Census of Employment and Wages (QCEW), which
enumerates jobs covered by the UI tax system. The benchmark process results in revisions
to not seasonally adjusted data from April 2012 forward. Seasonally adjusted data from
January 2009 forward are subject to revision. In addition, data for some series prior to
2009, both seasonally adjusted and unadjusted, incorporate revisions.

The total nonfarm employment level for March 2013 was revised upward by 369,000 (+347,000
on a not seasonally adjusted basis, or 0.3 percent). The average benchmark revision over
the past 10 years was plus or minus 0.3 percent. 

This revision incorporates the reclassification of jobs in the QCEW. Private household
employment is out of scope for the establishment survey. The QCEW reclassified some
private household employment into an industry that is in scope for the establishment
survey--services for the elderly and persons with disabilities. This reclassification
accounted for an increase of 466,000 jobs in the establishment survey. This increase of
466,000 associated with reclassification was offset by survey error of -119,000 for a
total net benchmark revision of +347,000 on a not seasonally adjusted basis. Historical
time series have been reconstructed to incorporate these revisions. 

The effect of these revisions on the underlying trend in nonfarm payroll employment was
minor. For example, the over-the-year change in total nonfarm employment for 2013 was
revised from 2,186,000 to 2,322,000 seasonally adjusted. Table A presents revised total
nonfarm employment data on a seasonally adjusted basis for January through December 2013.

All revised historical CES data, as well as an article that discusses the benchmark and
post-benchmark revisions and other technical issues can be accessed through the CES
homepage at www.bls.gov/ces/. Information on the data released today also may be obtained
by calling (202) 691-6555.

Table A. Revisions in total nonfarm employment, January-December 2013, seasonally adjusted
(Numbers in thousands)

------------------------------------------------------------------------------------------
                    |                                    |                                
                    |                Level               |      Over-the-month change     
                    |---------------------------------------------------------------------
    Year and month  |    As     |           |            |    As    |         |           
                    |previously |    As     | Difference |previously|   As    | Difference
                    |published  |  revised  |            |published | revised |           
------------------------------------------------------------------------------------------
                    |           |           |            |          |         |           
          2013      |           |           |            |          |         |           
                    |           |           |            |          |         |           
 January............|  134,839  |  135,261  |     422    |    148   |    197  |      49   
 February...........|  135,171  |  135,541  |     370    |    332   |    280  |     -52   
 March..............|  135,313  |  135,682  |     369    |    142   |    141  |      -1   
 April..............|  135,512  |  135,885  |     373    |    199   |    203  |       4   
 May................|  135,688  |  136,084  |     396    |    176   |    199  |      23   
 June...............|  135,860  |  136,285  |     425    |    172   |    201  |      29   
 July...............|  135,949  |  136,434  |     485    |     89   |    149  |      60   
 August.............|  136,187  |  136,636  |     449    |    238   |    202  |     -36   
 September..........|  136,362  |  136,800  |     438    |    175   |    164  |     -11   
 October............|  136,562  |  137,037  |     475    |    200   |    237  |      37   
 November...........|  136,803  |  137,311  |     508    |    241   |    274  |      33   
 December (p).......|  136,877  |  137,386  |     509    |     74   |     75  |       1   
------------------------------------------------------------------------------------------

   p = preliminary

                Adjustments to Population Estimates for the Household Survey

Effective with data for January 2014, updated population estimates have been used in the
household survey. Population estimates for the household survey are developed by the U.S.
Census Bureau. Each year, the Census Bureau updates the estimates to reflect new information
and assumptions about the growth of the population since the previous decennial census. The
change in population reflected in the new estimates results from adjustments for net
international migration, updated vital statistics and other information, and some
methodological changes in the estimation process. 

In accordance with usual practice, BLS will not revise the official household survey estimates
for December 2013 and earlier months. To show the impact of the population adjustments, however,
differences in selected December 2013 labor force series based on the old and new population
estimates are shown in table B. 

The adjustments increased the estimated size of the civilian noninstitutional population in
December by 2,000, the civilian labor force by 24,000, employment by 22,000, and unemployment
by 2,000. The number of persons not in the labor force was reduced by 22,000. The total
unemployment rate, employment-population ratio, and labor force participation rate were
unaffected. 

Data users are cautioned that these annual population adjustments can affect the comparability
of household data series over time. Table C shows the effect of the introduction of new
population estimates on the comparison of selected labor force measures between December 2013
and January 2014. Additional information on the population adjustments and their effect on
national labor force estimates is available at www.bls.gov/cps/cps14adj.pdf.

Table B. Effect of the updated population controls on December 2013 estimates by sex, race, and
Hispanic or Latino ethnicity, not seasonally adjusted
(Numbers in thousands)

__________________________________________________________________________________________________
                                        |      |     |      |       |        |       |            
                                        |      |     |      |       |  Black |       |            
                                        |      |     |      |       |    or  |       |  Hispanic  
                  Category              | Total| Men | Women| White | African| Asian | or Latino  
                                        |      |     |      |       |American|       | ethnicity  
                                        |      |     |      |       |        |       |            
________________________________________|______|_____|______|_______|________|_______|____________
                                        |      |     |      |       |        |       |            
  Civilian noninstitutional population..|    2 |  29 |  -27 |   -65 |     48 |    33 |     -57    
    Civilian labor force................|   24 |  24 |    0 |   -17 |     34 |    15 |     -38    
      Participation rate................|   .0 |  .0 |   .0 |    .0 |     .0 |    .0 |      .0    
     Employed...........................|   22 |  22 |    0 |   -16 |     31 |    14 |     -34    
      Employment-population ratio.......|   .0 |  .0 |   .0 |    .0 |     .0 |    .0 |      .0    
     Unemployed.........................|    2 |   3 |   -1 |    -1 |      4 |     1 |      -4    
      Unemployment rate.................|   .0 |  .0 |   .0 |    .0 |     .0 |    .0 |      .0    
    Not in labor force..................|  -22 |   4 |  -27 |   -48 |     14 |    18 |     -18    
________________________________________|______|_____|______|_______|________|_______|____________

   NOTE: Detail may not sum to totals because of rounding. Estimates for the above race groups
(white, black or African American, and Asian) do not sum to totals because data are not presented
for all races. Persons whose ethnicity is identified as Hispanic or Latino may be of any race.

Table C. December 2013-January 2014 changes in selected labor force measures,
with adjustments for population control effects
(Numbers in thousands)

______________________________________________________________________________
                                       |           |            |             
                                       |           |            |  Dec.-Jan.  
                                       | Dec.-Jan. |    2014    |   change,   
                                       |  change,  | population |  after re-  
                Category               |    as     |   control  |  moving the 
                                       | published |   effect   |  population 
                                       |           |            |   control   
                                       |           |            |  effect (1) 
_______________________________________|___________|____________|_____________
                                       |           |            |             
  Civilian noninstitutional population.|    170    |       2    |     168     
    Civilian labor force...............|    523    |      24    |     499     
      Participation rate...............|     .2    |      .0    |      .2     
     Employed..........................|    638    |      22    |     616     
      Employment-population ratio......|     .2    |      .0    |      .2     
     Unemployed........................|   -115    |       2    |    -117     
      Unemployment rate................|    -.1    |      .0    |     -.1     
    Not in labor force.................|   -353    |     -22    |    -331     
_______________________________________|___________|____________|_____________

   (1) This Dec.-Jan. change is calculated by subtracting the population 
control effect from the over-the-month change in the published seasonally
adjusted estimates.
   NOTE: Detail may not sum to totals because of rounding.

  ------------------------------------------------------------------------------------
 |                                                                                    |
 |                            Change to the Household Survey Tables                   |
 |                                                                                    |
 |Effective with this release, household survey table A-10 includes two new seasonally|
 |adjusted series for women age 55 and over--the number of unemployed persons and the |
 |unemployment rate. These replace the series that were previously displayed for this |
 |group, which were not seasonally adjusted.                                          |
 |                                                                                    |
  ------------------------------------------------------------------------------------

  ------------------------------------------------------------------------------------
 |                                                                                    |
 |               Updated Veteran Weighting Methodology for Household Survey           |
 |                                                                                    |
 |Beginning with data for January 2014, estimates for veterans in table A-5 of this   |
 |release incorporate updated weighting procedures. The new weighting methodology more|
 |accurately reflects the current demographic composition of the veteran population.  |
 |The primary impact of the change was an increase in the "Gulf War-era I" veteran    |
 |population and a decrease in the number of veterans in the "Other service periods"  |
 |category. The updated methodology had little effect on unemployment rates for       |
 |veterans, regardless of gender or period of service. Additional information on the  |
 |effect of the change on labor force estimates for veterans is available at          |
 |www.bls.gov/cps/vetsweights2014.pdf.                                                |
 |                                                                                    |
  ------------------------------------------------------------------------------------

Employment Situation Summary Table A. Household data, seasonally adjusted

HOUSEHOLD DATA
Summary table A. Household data, seasonally adjusted
[Numbers in thousands]

CategoryJan.
2013Nov.
2013Dec.
2013Jan.
2014Change from:
Dec.
2013-
Jan.
2014Employment status Civilian noninstitutional population244,663246,567246,745246,915-Civilian labor force155,699155,284154,937155,460-Participation rate63.663.062.863.0-Employed143,384144,443144,586145,224-Employment-population ratio58.658.658.658.8-Unemployed12,31510,84110,35110,236-Unemployment rate7.97.06.76.6-Not in labor force88,96391,28391,80891,455- Unemployment rates Total, 16 years and over7.97.06.76.6-Adult men (20 years and over)7.46.76.36.2-Adult women (20 years and over)7.26.26.05.9-Teenagers (16 to 19 years)23.520.820.220.7-White7.16.15.95.7-Black or African American13.812.411.912.1-Asian (not seasonally adjusted)6.55.34.14.8-Hispanic or Latino ethnicity9.78.78.38.4- Total, 25 years and over6.55.85.65.4-Less than a high school diploma12.010.69.89.6-High school graduates, no college8.17.37.16.5-Some college or associate degree7.06.46.16.0-Bachelor’s degree and higher3.83.43.33.2- Reason for unemployment Job losers and persons who completed temporary jobs6,6755,7315,3665,407-Job leavers984890862818-Reentrants3,5203,0653,0362,937-New entrants1,2741,1691,2011,184- Duration of unemployment Less than 5 weeks2,7532,4392,2552,434-5 to 14 weeks3,0772,5852,5062,429-15 to 26 weeks1,8671,7421,6511,689-27 weeks and over4,7074,0443,8783,646- Employed persons at work part time Part time for economic reasons7,9837,7237,7717,257-Slack work or business conditions5,1174,8694,8844,405-Could only find part-time work2,6132,4992,5922,571-Part time for noneconomic reasons18,55618,85818,73119,165- Persons not in the labor force (not seasonally adjusted) Marginally attached to the labor force2,4432,0962,4272,592-Discouraged workers804762917837– December – January changes in household data are not shown due to the introduction of updated population controls.
NOTE: Persons whose ethnicity is identified as Hispanic or Latino may be of any race. Detail for the seasonally adjusted data shown in this table will not necessarily add to totals because of the independent seasonal adjustment of the various series. Updated population controls are introduced annually with the release of January data.

Employment Situation Summary Table B. Establishment data, seasonally adjusted

ESTABLISHMENT DATA
Summary table B. Establishment data, seasonally adjusted
Category Jan.
2013
Nov.
2013
Dec.
2013(p)
Jan.
2014(p)
EMPLOYMENT BY SELECTED INDUSTRY
(Over-the-month change, in thousands)
Total nonfarm 197 274 75 113
Total private 219 272 89 142
Goods-producing 43 68 -13 76
Mining and logging 3 1 1 7
Construction 23 32 -22 48
Manufacturing 17 35 8 21
Durable goods(1) 9 19 2 15
Motor vehicles and parts 3.5 4.7 3.3 4.7
Nondurable goods 8 16 6 6
Private service-providing(1) 176 204 102 66
Wholesale trade 16.9 16.8 10.2 13.9
Retail trade 26.9 22.3 62.7 -12.9
Transportation and warehousing 9.8 32.4 10.6 9.9
Information -1 1 -10 0
Financial activities 8 -4 3 -2
Professional and business services(1) 45 73 4 36
Temporary help services 4.9 36.6 30.1 8.1
Education and health services(1) 17 25 -4 -6
Health care and social assistance 23.5 24.4 1.1 1.5
Leisure and hospitality 47 37 20 24
Other services 7 -1 7 4
Government -22 2 -14 -29
WOMEN AND PRODUCTION AND NONSUPERVISORY EMPLOYEES(2)
AS A PERCENT OF ALL EMPLOYEES
Total nonfarm women employees 49.4 49.5 49.5 49.4
Total private women employees 48.0 48.0 48.0 47.9
Total private production and nonsupervisory employees 82.6 82.6 82.6 82.6
HOURS AND EARNINGS
ALL EMPLOYEES
Total private
Average weekly hours 34.4 34.5 34.4 34.4
Average hourly earnings $23.75 $24.15 $24.16 $24.21
Average weekly earnings $817.00 $833.18 $831.10 $832.82
Index of aggregate weekly hours (2007=100)(3) 97.5 99.6 99.4 99.5
Over-the-month percent change 0.2 0.5 -0.2 0.1
Index of aggregate weekly payrolls (2007=100)(4) 110.5 114.8 114.6 114.9
Over-the-month percent change 0.4 0.8 -0.2 0.3
HOURS AND EARNINGS
PRODUCTION AND NONSUPERVISORY EMPLOYEES
Total private
Average weekly hours 33.6 33.7 33.5 33.5
Average hourly earnings $19.95 $20.30 $20.33 $20.39
Average weekly earnings $670.32 $684.11 $681.06 $683.07
Index of aggregate weekly hours (2002=100)(3) 104.9 107.1 106.6 106.7
Over-the-month percent change -0.2 0.5 -0.5 0.1
Index of aggregate weekly payrolls (2002=100)(4) 139.8 145.3 144.8 145.3
Over-the-month percent change 0.1 0.8 -0.3 0.3
DIFFUSION INDEX(5)
(Over 1-month span)
Total private (264 industries) 64.0 66.9 56.4 61.2
Manufacturing (81 industries) 56.8 65.4 59.9 54.3
Footnotes
(1) Includes other industries, not shown separately.
(2) Data relate to production employees in mining and logging and manufacturing, construction employees in construction, and nonsupervisory employees in the service-providing industries.
(3) The indexes of aggregate weekly hours are calculated by dividing the current month’s estimates of aggregate hours by the corresponding annual average aggregate hours.
(4) The indexes of aggregate weekly payrolls are calculated by dividing the current month’s estimates of aggregate weekly payrolls by the corresponding annual average aggregate weekly payrolls.
(5) Figures are the percent of industries with employment increasing plus one-half of the industries with unchanged employment, where 50 percent indicates an equal balance between industries with increasing and decreasing employment.
(p) Preliminary
NOTE: Data have been revised to reflect March 2013 benchmark levels and updated seasonal adjustment factors.

Weakness Continues as 113,000 Jobs Are Added in January

Employers added jobs at a slower-than-expected pace in January, the second month in a row that hiring has been disappointing and a sign that the labor market remains anemic despite indications of growth elsewhere in the economy.

Payrolls increased by 113,000, the Labor Department reported Friday morning, well below the gain of 180,000 that economists expected. The unemployment rate, based on a separate survey of households that was more encouraging, actually fell by a tenth of a percentage point, to 6.6 percent.

The data for January come after an even more disappointing report on the labor market for December, which was revised upward only slightly Friday, to show a gain of just 75,000 jobs, from 74,000. The level of hiring in January was also substantially below the average monthly gain of 178,000 positions over the last six months, as well as the monthly addition of 187,000 over the last year.

The two weak months in a row will prompt questions about whether the Federal Reserve acted prematurely when policy makers in December voted to begin scaling back the central bank’s expansive stimulus efforts.

The new data is not expected to alter the Fed’s course, economists said, but another poor report on hiring next month might force policy makers to rethink their plan when they next meet in late March.

“In one line: grim,” said Ian Shepherdson, chief economist at Pantheon Macroeconomics, in a note to clients Friday morning.

While seasonal adjustments may have played a role and upward revisions for hiring in October and November were more encouraging, he said, “The payroll rebound clearly is disappointing; none of the ground lost in December was recovered.”

Other economists conceded the picture for January was hardly bright, but cautioned it was too soon to conclude there had been a fundamental loss of momentum in the economy, especially given seasonal fluctuations in the data and the possibility that weather inhibited some hiring.

“We’re not seeing the takeoff that people wanted to see, but it’s not a disaster,” said Julia Coronado, chief economist for North America at BNP Paribas. “The 113,000 figure is definitely way below trend, but we want another month or two of data before we can draw conclusions.”

One mystery economists will be focusing on is why employment gains have not kept up with economic growth as measured by gross domestic product, which picked up substantially in the second half of 2013. The annualized pace of expansion was 3.2 percent in the fourth quarter, and 4.1 percent in the third quarter.

One reason may be that new technologies are allowing employers to make do with fewer workers, for instance the use of automated customer service systems instead of call centers, or Internet retailers’ taking over from brick-and-mortar stores where sales associates prowl the floors.

Another shift is evident from the yawning gap in employment for college graduates versus workers who lack a high school diploma. For people with a college degree or higher, the jobless rate was 3.1 percent, compared with 9.6 percent for Americans who did not finish high school.

Wintry conditions that held back hiring were blamed for the weakness in December, a theory popular among more optimistic economists after those numbers came out in early January.

But despite what seems like an endless series of snowstorms on the East Coast and arctic conditions in the Midwest recently, the reference week for the latest survey was Jan. 12-18, when conditions were fairly normal as Januaries go, limiting some of the impact of the weather in this report.

In the report on January, one sector holding back payrolls was the government, which shrank by 29,000 jobs in January. Excluding that loss, private employers added 142,000 positions, a slightly better showing.

Several other sectors which had been strong in recent months – education and health care as well as retailing – also lost positions, contributing to the overall weakness.

The falloff in hiring in the health care sector was especially notable. In December and January together, just 2,600 health care positions were filled. By contrast, as recently as November, nearly 25,000 health care workers were added to payrolls.

Although this area of the economy is going through a transformation as President Obama’s new health care plan is slowly introduced, that is unlikely to have caused the abrupt slowdown in hiring, said Ethan Harris, a head of global economics at Bank of America Merrill Lynch. If anything, he said, the law should create new jobs in the sector as health care coverage is expanded, even if higher costs for some employers result in job cuts elsewhere in the economy.

As for retail, which lost nearly 13,000 jobs in January, some of that reduction could have essentially been because of excessive hiring in December, Mr. Harris said, when stores added nearly 63,000 positions as the holiday shopping season peaked. The cuts may also have been spurred by weak results at some retailers, with chains like J. C. Penney announcing major job cuts last month, and Loehmann’s, the venerable discounter, now in liquidation.

The employment-population ratio, which has been falling as more workers drop out of the job market, edged up 0.2 percentage points to 58.8 percent. In recent years, the exit of people from the work force has reduced the unemployment rate, but it is a sign that people are giving up hope of finding a job in the face of slack conditions, hardly the way policy makers would like to see joblessness come down.

http://www.nytimes.com/2014/02/08/business/us-economy-adds-113000-jobs-unemployment-rate-at-6-6.html?_r=0

EMBARGOED UNTIL RELEASE AT 8:30 A.M. EST, THURSDAY, JANUARY 30, 2014
BEA 14-03

* See the navigation bar at the right side of the news release text for links to data tables,
contact personnel and their telephone numbers, and supplementary materials.

Lisa S. Mataloni: (202) 606-5304 (GDP) gdpniwd@bea.gov
Recorded message: (202) 606-5306
Jeannine Aversa: (202) 606-2649 (News Media)
National Income and Product Accounts
Gross Domestic Product, 4th quarter and annual 2013 (advance estimate)
      Real gross domestic product -- the output of goods and services produced by labor and property
located in the United States -- increased at an annual rate of 3.2 percent in the fourth quarter of 2013
(that is, from the third quarter to the fourth quarter), according to the "advance" estimate released by the
Bureau of Economic Analysis.  In the third quarter, real GDP increased 4.1 percent.

      The Bureau emphasized that the fourth-quarter advance estimate released today is based on
source data that are incomplete or subject to further revision by the source agency (see the box on page 4
and "Comparisons of Revisions to GDP" on page 5).  The "second" estimate for the fourth quarter, based
on more complete data, will be released on February 28, 2014.

      The increase in real GDP in the fourth quarter primarily reflected positive contributions from
personal consumption expenditures (PCE), exports, nonresidential fixed investment, private inventory
investment, and state and local government spending that were partly offset by negative contributions
from federal government spending and residential fixed investment.  Imports, which are a subtraction in
the calculation of GDP, increased.

      The deceleration in real GDP in the fourth quarter reflected a deceleration in private inventory
investment, a larger decrease in federal government spending, a downturn in residential fixed
investment, and decelerations in state and local government spending and in nonresidential fixed
investment that were partly offset by accelerations in exports and in PCE and a deceleration in imports.

      The price index for gross domestic purchases, which measures prices paid by U.S. residents,
increased 1.2 percent in the fourth quarter, compared with an increase of 1.8 percent in the third.
Excluding food and energy prices, the price index for gross domestic purchases increased 1.7 percent in
the fourth quarter, compared with an increase of 1.5 percent in the third.

_______
FOOTNOTE.  Quarterly estimates are expressed at seasonally adjusted annual rates, unless otherwise
specified.  Quarter-to-quarter dollar changes are differences between these published estimates.  Percent
changes are calculated from unrounded data and are annualized.  "Real" estimates are in chained (2009)
dollars.  Price indexes are chain-type measures.

This news release is available on www.bea.gov along with the Technical Note and Highlights 
related to this release.
_______

      Real personal consumption expenditures increased 3.3 percent in the fourth quarter, compared
with an increase of 2.0 percent in the third. Durable goods increased 5.9 percent, compared with an
increase of 7.9 percent.  Nondurable goods increased 4.4 percent, compared with an increase of 2.9
percent.  Services increased 2.5 percent, compared with an increase of 0.7 percent.

      Real nonresidential fixed investment increased 3.8 percent in the fourth quarter, compared with
an increase of 4.8 percent in the third.  Nonresidential structures decreased 1.2 percent, in contrast to an
increase of 13.4 percent.  Equipment increased 6.9 percent, compared with an increase of 0.2 percent.
Intellectual property products increased 3.2 percent, compared with an increase of 5.8 percent.  Real
residential fixed investment decreased 9.8 percent, in contrast to an increase of 10.3 percent.

      Real exports of goods and services increased 11.4 percent in the fourth quarter, compared with
an increase of 3.9 percent in the third.  Real imports of goods and services increased 0.9 percent,
compared with an increase of 2.4 percent.

      Real federal government consumption expenditures and gross investment decreased 12.6 percent
in the fourth quarter, compared with a decrease of 1.5 percent in the third.  National defense decreased
14.0 percent, compared with a decrease of 0.5 percent.  Nondefense decreased 10.3 percent, compared
with a decrease of 3.1 percent.  Real state and local government consumption expenditures and gross
investment increased 0.5 percent, compared with an increase of 1.7 percent.

      The change in real private inventories added 0.42 percentage point to the fourth-quarter change
in real GDP after adding 1.67 percentage points to the third-quarter change.  Private businesses
increased inventories $127.2 billion in the fourth quarter, following increases of $115.7 billion in the
third quarter and $56.6 billion in the second.

      Real final sales of domestic product -- GDP less change in private inventories -- increased 2.8
percent in the fourth quarter, compared with an increase of 2.5 percent in the third.

Gross domestic purchases

      Real gross domestic purchases -- purchases by U.S. residents of goods and services wherever
produced -- increased 1.8 percent in the fourth quarter, compared with an increase of 3.9 percent in the
third.

Disposition of personal income

      Current-dollar personal income increased $69.4 billion (2.0 percent) in the fourth quarter,
compared with an increase of $140.0 billion (4.0 percent) in the third.  The deceleration in personal
income primarily reflected downturns in personal dividend income and in farm proprietors’ income and
a deceleration in personal current transfer receipts that were partly offset by an acceleration in wages
and salaries.

      Personal current taxes increased $23.7 billion in the fourth quarter, in contrast to a decrease of
$11.0 billion in the third.

      Disposable personal income increased $45.7 billion (1.5 percent) in the fourth quarter, compared
with an increase of $151.0 billion (5.0 percent) in the third.  Real disposable personal income increased
0.8 percent in the fourth quarter, compared with an increase of 3.0 percent in the third.

      Personal outlays increased $118.6 billion (4.0 percent) in the fourth quarter, compared with an
increase of $113.4 billion (3.9 percent) in the third.  Personal saving -- disposable personal income less
personal outlays -- was $545.1 billion in the fourth quarter, compared with $618.0 billion in the third.

      The personal saving rate -- personal saving as a percentage of disposable personal income -- was
4.3 percent in the fourth quarter, compared with 4.9 percent in the third.  For a comparison of personal
saving in BEA’s national income and product accounts with personal saving in the Federal Reserve
Board’s financial accounts of the United States and data on changes in net worth, go to
www.bea.gov/national/nipaweb/Nipa-Frb.asp.

Current-dollar GDP

      Current-dollar GDP -- the market value of the nation's output of goods and services -- increased
4.6 percent, or $189.6 billion, in the fourth quarter to a level of $17,102.5 billion.  In the third quarter,
current-dollar GDP increased 6.2 percent, or $251.9 billion.

2013 GDP

	Real GDP increased 1.9 percent in 2013 (that is, from the 2012 annual level to the 2013 annual
level), compared with an increase of 2.8 percent in 2012.

      The increase in real GDP in 2013 primarily reflected positive contributions from personal
consumption expenditures (PCE), exports, residential fixed investment, nonresidential fixed investment,
and private inventory investment that were partly offset by a negative contribution from federal
government spending.  Imports, which are a subtraction in the calculation of GDP, increased.

      The deceleration in real GDP in 2013 primarily reflected a deceleration in nonresidential fixed
investment, a larger decrease in federal government spending, and decelerations in PCE and in exports
that were partly offset by a deceleration in imports and a smaller decrease in state and local government
spending.

      The price index for gross domestic purchases increased 1.2 percent in 2013, compared with an
increase of 1.7 percent in 2012.

      Current-dollar GDP increased 3.4 percent, or $558.4 billion, in 2013, compared with an increase
of 4.6 percent, or $710.8 billion, in 2012.

      During 2013 (that is, measured from the fourth quarter of 2012 to the fourth quarter of 2013) real
GDP increased 2.7 percent.  Real GDP increased 2.0 percent during 2012.  The price index for gross
domestic purchases increased 1.1 percent during 2013, compared with an increase of 1.5 percent in
2012.

________
BOX.	  Information on the assumptions used for unavailable source data is provided in a technical note
that is posted with the news release on BEA's Web site.  Within a few days after the release, a detailed
"Key Source Data and Assumptions" file is posted on the Web site.  In the middle of each month, an analysis
of the current quarterly estimate of GDP and related series is made available on the Web site; click on
Survey of Current Business, "GDP and the Economy."  For information on revisions, see "Revisions to GDP, GDI,
and Their Major Components."
________

      BEA's national, international, regional, and industry estimates; the Survey of Current Business;
and BEA news releases are available without charge on BEA's Web site at www.bea.gov.  By visiting
the site, you can also subscribe to receive free e-mail summaries of BEA releases and announcements.

                                      *          *          *

                          Next release -- February 28, 2014 at 8:30 A.M. EST for:
                  Gross Domestic Product:  Fourth Quarter and Annual 2013 (Second Estimate)

                                      *          *          *

Release dates in 2014

Gross Domestic Product

           		2013: IV and 2013 annual    	2014: I     	2014: II       	  2014: III

Advance...		January 30            	        April 30	July 30		  October 30
Second....		February 28          	        May 29      	August 28	  November 25
Third..... 		March 27             	        June 25     	September 26	  December 23

Corporate Profits

Preliminary...          ......	                        May 29         August 28         November 25
Revised....... 		March 27             	        June 25        September 26      December 23

                                            Comparisons of Revisions to GDP

     Quarterly estimates of GDP are released on the following schedule:  the "advance" estimate, based on
source data that are incomplete or subject to further revision by the source agency, is released near the end of the
first month after the end of the quarter; as more detailed and more comprehensive data become available,
the "second" and "third" estimates are released near the end of the second and third months, respectively.
The "latest"” estimate reflects the results of both annual and comprehensive revisions.

     Annual revisions, which generally cover the quarters of the 3 most recent calendar years, are usually carried
out each summer and incorporate newly available major annual source data.  Comprehensive (or benchmark)
revisions are carried out at about 5-year intervals and incorporate major periodic source data, as well as
improvements in concepts and methods that update the accounts to portray more accurately the evolving U.S.
economy.

The table below shows comparisons of the revisions between quarterly percent changes of current-dollar
and of real GDP for the different vintages of the estimates.  From the advance estimate to the second estimate (one
month later), the average revision to real GDP without regard to sign is 0.5 percentage point, while from the
advance estimate to the third estimate (two months later), it is 0.6 percentage point.  From the advance estimate to
the latest estimate, the average revision without regard to sign is 1.3 percentage points.  The average revision
(with regard to sign) from the advance estimate to the latest estimate is 0.3 percentage point, which is larger
than the average revisions from the advance estimate to the second or to the third estimates.  The larger average
revisions to the latest estimate reflect the fact that comprehensive revisions include major improvements, such as
the incorporation of BEA’s latest benchmark input-output accounts.  The quarterly estimates correctly indicate the
direction of change of real GDP 97 percent of the time, correctly indicate whether GDP is accelerating or
decelerating 72 percent of the time, and correctly indicate whether real GDP growth is above, near, or below trend
growth more than four-fifths of the time.

                           Revisions Between Quarterly Percent Changes of GDP: Vintage Comparisons
                                                     [Annual rates]

       Vintages                                   Average         Average without     Standard deviation of
       compared                                                    regard to sign      revisions without
                                                                                         regard to sign

____________________________________________________Current-dollar GDP_______________________________________________

Advance to second....................               0.2                 0.5                  0.4
Advance to third.....................                .2                  .7                   .4
Second to third......................                .0                  .3                   .2

Advance to latest....................                .3                 1.3                  1.0

________________________________________________________Real GDP_____________________________________________________

Advance to second....................               0.1                 0.5                  0.4
Advance to third.....................                .1                  .6                   .4
Second to third......................                .0                  .2                   .2

Advance to latest....................                .3                 1.3                  1.0

NOTE.  These comparisons are based on the period from 1983 through 2010.http://bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm
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U.S. Senate Select Committee on Intelligence Report — TERRORIST ATTACKS ON U.S. FACILITIES IN BENGHAZI, LIBYA, SEPTEMBER 11-12, 2012 January 1, 2014 — General Carter Ham’s Testimony — Benghazi Was A Terrorist Attack — YouTube Video Story Was A Lie – The White House Is The Liars Lair — Videos

Posted on January 15, 2014. Filed under: American History, Banking, Blogroll, College, Communications, Constitution, Crime, Culture, Diasters, Economics, Education, Employment, Energy, Federal Government, Federal Government Budget, Fiscal Policy, Foreign Policy, Fraud, Genocide, government, government spending, history, Law, liberty, Life, Links, media, Monetary Policy, Money, Natural Gas, Oil, People, Philosophy, Photos, Politics, Press, Rants, Raves, Regulations, Reviews, Talk Radio, Technology, Terrorism, Video, War, Wisdom | Tags: , , , , , , , , , , , , , , , , , , , , , , , |

general_carter_hamm

The head of the U.S. Africa Command, General Carter Ham, told the House Committee on Armed Services in June 2013, according to recently declassified testimony, that Benghazi was immediately considered an attack.

liar-obama-obamacare

Document

Senate Benghazi report

A Sen­ate in­tel­li­gence com­mit­tee re­port re­leased Wed­nes­day places the blame on State De­part­ment and in­tel­li­gence agen­cies for the 2012 ter­ror­ist at­tack in Benghazi.

Senator Intelligence Committee releases Benghazi attack report The Latest News

[youube=http://www.youtube.com/watch?v=jF5VSfqyuCw]

Benghazi Attack New Senate CMTE Report Criticizes Obama Admin’s Response To Benghazi

Jay Carney Scolds Fox’s Ed Henry For ‘Coloring Outside the Lines’ On Benghazi: ‘Come On, Ed’

The Benghazi Transcripts Don’t Lie

General Carter Ham Quickly became clear, Benghazi a terrorist attack not a demonstration

The Truth About The Murders In Benghazi Attack NYT Under Pressure

Benghazi Scandal Told To Keep Quiet NDA Given To Benghazi Survivors At Memorial

Glenn Beck Why Obama Hid the Truth of Benghazi

Treason Exposed! Obama Used Benghazi Attack to Cover Up Arms Shipments to Muslim Brotherhood

SYRIA Geraldo Rivera: My Sources Say The US Running Libya Arms To Syrian Rebels

SYRIA CNBC: Benghazi Is Not About Libya But An Operation To Put Arms & Men In Syria

SYRIA Retired General Suspects A US Covert Operation For Running Libya Arms To Syria

Benghazi Scandal – Susan Rice Defends Benghazi Interviews; Has No Regrets – The Real Story

Fox O’Reilly: Obama Appointing Susan Rice Not Insult to Republicans but Defiance to All Americans

Labrador: Susan Rice Response to Benghazi Attack “Shameful”

Susan Rice Caught Lying About Benghazi – Rep. Trey Gowdy Whistleblower Questioning

R Mc Govern: Beyond Benghazi questioning Susan Rice

LIBYA No US Consulate In Benghazi But CIA Operation, Hired Militia Linked To Extremist

White House Knew at 6:07 PM EST That Ansar Al-Sharia Was Behind the Benghazi Attack

Obama Linked to Benghazi Attack

Obama blames the video in his UN speech

Pres. Obama Speech on 9/11/2012 Terrorist Attacks in Libya

Susan Rice on contending with crisis

Susan Rice Interview on Meet the Press – 9/16/12

Susan Rice ‘This Week’ Interview: U.S. Ambassador to UN Discusses Muslim Protest (09/2012)

Benghazi attack: New report shows the real scandal isn’t what Obama called it

By Ryan Teague Beckwith,

The fight over Benghazi isn’t going away, but the reason for the fight may be changing.

In the days after the deadly attack on a U.S. mission in Libya, the political fight centered on whether President Obama had called it terrorism and whether it was a planned or spontaneous attack.

A new bipartisan Senate report released Wednesday, however, focuses more on the failure of the State Department and U.S. intelligence agencies for not preventing the attack.

The report shows several major problems:

• The State Department did not increase security at its sites despite warnings of possible violence.

• The CIA did not share information about the existence of its outpost with the U.S. military.

• The CIA and the State Department were not working out of the same location.

• Libyans charged with protecting the compound did not do their job.

The report doesn’t touch on the more political aspects of the 2012 attack, which led to the death of U.S. Ambassador Chris Stevens and two others. But six Republican senators added a separate note to the report criticizing the Obama administration for delaying the report and for not being transparent.

“Information has been withheld from the Committee because of the ‘ongoing criminal investigation’ into the attacks, in an apparent effort to shield certain government agencies from congressional oversight or potential embarrassment,” they wrote.

But the fact that their criticisms come up as an addendum to the report instead of in the report itself shows the controversy about what happened at Benghazi is shifting in D.C.

http://www.dailynews.com/general-news/20140115/benghazi-attack-new-report-shows-the-real-scandal-isnt-what-obama-called-it

Pentagon labeled Benghazi a terrorist attack as Obama administration wavered: newly declassified testimony

Gen. Carter Ham’s newly declassified testimony before the House suggests the prospect of an out-of-control demonstration was not raised by Defense officials and that they immediately considered the incident an attack.

By Leslie Larson

The Obama administration was wary to label the 2012 attack on the U.S. Consulate in Benghazi as an act of terrorism but declassified testimony from a top Pentagon official indicates there was little ambiguity among Defense Department players that terrorism was the likely motive.

Former U.S. Ambassador to the U.N. Susan Rice represented the Obama administration in discussing the incident in the aftermath of the attack, suggesting the death of Ambassador Chris Stephens and three Americans came as the result of a protest over an incendiary viral video blasting the prophet Mohammad and was not a preplanned act of terrorism.

Rice appeared on CBS’ “Face the Nation,” CNN’s “State of the Union,” NBC’s “Meet The Press,” “Fox News Sunday” and ABC’s “This Week” on Sep. 16, 2012, to speak on behalf of the President and she repeated the belief that the incident was a “spontaneous” mob uprising and not “a preplanned, premeditated attack.”

“This is not an expression of hostility in the broadest sense toward the United States or to U.S. policy,” she stated.

Republicans pounced on Rice’s analysis, claiming she was placating extremists and not adequately representing the national security threat to the American people.

Now testimony by Gen. Carter Ham, head of AFRICOM at the time of attack, before the House Committee on Armed Services in June 2013 suggests that Defense officials did not raise the prospect of an out-of-control demonstration and immediately deemed the incident an attack.

Ham, whose partially redacted transcript was declassified by the House on Monday, said at the 2013 hearing that he was alerted to the incident 15 minutes after it erupted at 9:42 p.m. Libya Time (3:42 p.m. EST) on Sep. 11, 2012.

“When we saw a rocket-propelled grenade attack, what appeared to be pretty well aimed small arms fire — again, this is all coming second and third hand through unclassified, you know, commercial cellphones for the most part initially. To me, it started to become clear pretty quickly that this was certainly a terrorist attack and not just not something sporadic,” he stated.

Ham served as head of the United States Africa Command, which manages U.S. military operations in Africa. He served in that capacity from March 2011 to April 2013.

He describes how as soon as AFRICOM learned of the attack, the command control repositioned a drone to the consulate to gather intelligence on the ground movements. The unmanned, unarmed surveillance aircraft was ordered to be diverted to the Benghazi site at 9:59 p.m. Libya Time, 17 minutes after the attack.

According to the timeline, at 10:32 p.m. Libya Time, Ham briefed then Defense Secretary Leon Panetta and Gen. Martin Dempsey, chairman of the Joint Chiefs of Staff, before they traveled to the White House for a pre-scheduled meeting with Obama, during which they briefed Obama on the situation.

During Ham’s briefing with Panetta and Dempsey, before they left for the White House, he said there was a “peripheral” discussion as to the cause but added, “We knew at that initial meeting, we knew that a U.S. facility had been attacked and was under attack.”

“I am not aware of (a demonstration), sir. It became pretty apparent to me, and I think to most at Africa Command pretty shortly after this attack began, that this was an attack,” he told Rep. Howard P. (Buck) McKeon (R-CA), chairman of the House Armed Services Committee.

“We knew at that point that we had two individuals, Ambassador Stevens and Mr. Smith (a Foreign Service information officer), unaccounted for. And so the focus of our effort at that point was gaining understanding of what the situation was. And then we started very quickly to think about, you know, the possibility of a U.S. ambassador being held hostage in a foreign land and what does that mean,” Ham said during his House testimony.

The testimony includes a reference to an Ops Alert announcing the attack that was received in the White House Situation Room at 10:05 p.m. Libya time, but Ham was not privy to what details the alert included.

Panetta’s testimony before the Senate Armed Services Committee in February similarly stated the early belief that the episode was an attack.

“There was no question in my mind that this was a terrorist attack,” Panetta said of his early assessment of the situation on the ground in Benghazi.

Ham’s version of events could discredit the accounts from some Obama officials who were hesitant to state the security threat posed by the attack.

In particular, Rice has been accused of misleading the American public with her statements that the incident was a protest run amok rather than terrorism.

In May 2013, then Secretary of State Hillary Clinton was also implicated in an ABC News report that claimed a State Department official urged the CIA and White House to avoid describing the event as an act of terrorism in public statements.

susan_rice

Susan Rice went on TV talk shows days after the Benghazi attack to speak on behalf of the President. She repeated the belief that the incident was a ‘spontaneous’ mob uprising and not ‘a preplanned, premeditated attack.’

RELATED: STASI: CBS PUTS LARA LOGAN ON LEAVE BUT FIRED RATHER FOR LESS

Leaked emails show that then State Department spokeswoman Victoria Nuland suggested that a CIA memo on Benghazi not include any reference of links to al-Qaeda and the intelligence warnings in the months preceding the attack.

Nuland wrote in protest to the CIA description, saying it “could be abused by members (of Congress) to beat up on the State Department for not paying attention to warnings,” in an email to the White House and the CIA, according to ABC.

The intelligence memo was the basis for Rice’s public statements in September 2012.

The PR spin to describe the attack as spontaneous rather than pre-planned was seen as a move to protect the State Department from being blamed for not adequately providing security and anticipating the attack.

RELATED: CBS ORDERS LOGAN, PRODUCER TO TAKE LEAVE

White House Press Secretary Jay Carney denied any wrongdoing in Rice’s description of the episode, telling the press in May that Rice didn’t have “hard, concrete evidence” to suggest terrorism.

“It was simply a reflection of we did not, and the intelligence community did not, and others within the administration did not, jump to conclusions about who was responsible before we had an investigation to find out the facts,” he said of Rice’s highly criticized assessment of the situation.

Her behavior in the aftermath of the tragedy displeased Congress and is largely to blame for her failure to be appointed Secretary of State after Clinton’s retirement in Obama’s second term.

Instead, Rice was appointed to the role of National Security adviser.

Clinton has defended Rice and said the root motive for the attack was not an important detail to focus on.

“We had four dead Americans. Was it because of a protest or because of guys out for a walk one night and decided to go kill some Americans? At this point what difference does it make, Senator?” Clinton said at a tense Senate hearing in January 2013.

Clinton, a likely contender in the 2016 White House bid, remains defensive as the “Benghazi stain” continues to haunt her legacy.

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How Murray Rothbard Became a Libertarian — Videos

Posted on January 13, 2014. Filed under: American History, Banking, Blogroll, Books, Business, College, Communications, Economics, Education, Employment, Federal Government, Federal Government Budget, Fiscal Policy, government, government spending, history, History of Economic Thought, Investments, Law, liberty, Life, Links, Macroeconomics, media, Microeconomics, Monetary Policy, Money, People, Philosophy, Photos, Politics, Regulations, Tax Policy, Taxes, Unemployment, Video, Wealth, Wisdom, Writing | Tags: , , , , |

How Murray Rothbard Became a Libertarian

A prolific author and Austrian economist, Murray Rothbard promoted a form of free market anarchism he called “anarcho-capitalism.”

In this talk, given at the 1981 National Libertarian Party Convention, Rothbard tells the story of how he came to learn about economics and libertarianism as he grew up in the Bronx and attended Columbia University in the 1930s and 40s. He reminisces about meeting Frank Chodorov, Baldy Harper, George Stigler and Ludwig von Mises, and takes a number of audience questions.

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The History of Economic Thought | Murray Rothbard–Videos

 

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Downsize Federal Government — Eliminate The Department of Energy — Home Energy Score — Government Intervention Into The Private Sector — Videos

Posted on January 13, 2014. Filed under: American History, Banking, Blogroll, College, Communications, Constitution, Demographics, Economics, Education, Energy, Federal Government, Federal Government Budget, Fiscal Policy, history, Macroeconomics, Microeconomics, Monetary Policy, Money, Natural Gas, Nuclear Power, Oil, Philosophy, Photos, Politics, Press, Programming, Psychology, Raves, Regulations, Science, Talk Radio, Unemployment, Video, War, Wealth, Wisdom | Tags: , , , , , , , , , , , , , , , , |

us-doe-logodoe-energyscore

home energy score timeline internachi energy rating ben gromicko

ScoreCard

DOE-logo

Our Ever Growing Dependence on Government

TAKE IT TO THE LIMITS: Milton Friedman on Libertarianism

Giving Away Money Costs More Than You Think

Downsizing the Federal Government

Downsize the Department of Energy

Can We Eliminate the Department of Education? (Charles Murray)

$5 Billion Loan for Solar Energy — Department of Energy

Phil Kerpen on Neil Cavuto to discuss the DOE loan program

Our Ever Growing Dependence on Government

Obamanomics: A Legacy of Wasteful Spending

Why Does Big Business Love Big Government? (Domhoff, Rothbard, and Evers)

G. William Domhoff is a research professor in psychology and sociology at the University of California, Santa Cruz. He is the author of Who Rules America? (1967), Bohemian Grove and Other Retreats: A Study in Ruling-Class Cohesiveness (1974), and other books.

A prolific author and Austrian economist, Murray Rothbard promoted a form of free market anarchism he called “anarcho-capitalism.”

Bill Evers was a resident scholar at Stanford University’s Hoover Institution (and is currently a research fellow there) and also served as Assistant Secretary for the Office of Planning, Evaluation and Policy Development in the U.S. Department of Education from 2007-09.

In this lecture Domhoff, Rothbard, and Evers talk about the “interlocking overlappers” that get together to influence the government, in California and in the country generally. They each spend some time describing what it is that draws businesspeople to market-capturing and rent-seeking behaviors, and take questions from the audience.

Walter Block – Free-Market Environmentalism [Australian Mises Seminar 2012]

How Murray Rothbard Became a Libertarian

The tide is rising for America’s libertarians

By Edward Luce

The new spirit in a rising climate of anti-politics has become an attitude, rather than a movement

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Robert Nozick, the late US libertarian, smoked pot while he was writing Anarchy, State and Utopia. He would applaud the growth of libertarianism among today’s young Americans. Whether it is their enthusiasm for legalised marijuana and gay marriage – both spreading across the US at remarkable speed – or their scepticism of government, US millennials no longer follow President Barack Obama’s cue. Most of America’s youth revile the Tea Party, particularly its south-dominated nativist core. But they are not big-government activists either. If there is a new spirit in America’s rising climate of anti-politics, it is libertarian.

On the face of it this ought to pose a bigger challenge to the Republican party – at least for its social conservative wing. Mr Obama may have disappointed America’s young, particularly the millions of graduates who have failed to find good jobs during his presidency. But he is no dinosaur. In contrast, Republicans such as Rick Santorum, the former presidential hopeful, who once likened gay sex to “man on dog”, elicit pure derision. Even moderate Republicans, such as Chris Christie, who until last week was the early frontrunner for the party’s 2016 nomination, are considered irrelevant. Whether Mr Christie was telling the truth last week, when he denied knowledge of his staff’s role in orchestrating a punitive local traffic jam, is beside the point. Mr Christie’s Sopranos brand of New Jersey politics is not tailored to the Apple generation.

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The opposite is true of Rand Paul, the Kentucky senator, whose chances of taking the 2016 prize rose with Mr Christie’s dented fortunes last week. Unlike Ron Paul, the senator’s father, who still managed to garner a large slice of the youth vote in 2008, Rand Paul eschews the more outlandish fringes of libertarian thought. Rather than promising an isolationist US withdrawal from the world, he touts a more moderate “non-interventionism”. Instead of pledging to end fiat money, he promises to audit the US Federal Reserve – “mend the Fed”, rather than “end the Fed”. Both find echo among the Y generation. So too does his alarmism about the US national debt. Far from being big spenders, millennials are more concerned about US debt than other generations, according to polls. They are also strongly in favour of free trade. More than a third of the Republican party now identifies as libertarian, according to the Cato Institute. Just under a quarter of Americans do so too, says Gallup.

All of which looks ominous for Ted Cruz, the Texan Republican whose lengthy filibuster against Obamacare last year lit the fuse for the US government shutdown. Mr Cruz, also a 2016 aspirant, leads the pugilistic wing of the Republican party that is prepared to burn the house down in order to save the ranch. Although also a Tea Partier, Mr Paul is cultivating a sunnier Reaganesque optimism that draws on the deep roots of US libertarianism. His brand of politics also strikes a chord with those who fear the growth of the US surveillance state – the types who view Edward Snowden (another millennial) as a hero rather than a traitor. Last year the US House of Representatives came within 12 votes of passing a bill to defund the National Security Agency. Mr Paul led the bill in the Senate. Next time they could succeed.

November 2012: While Obama lost ground among white male voters, his 2012 victory was the product of perhaps the most diverse electoral coalition in American history. Voters talk about how they interpret the president’s re-election

What does it mean for the Democrats? In terms of social values, libertarians are almost identical to liberals. Smoking pot and same-sex marriage both meet with big approval. The same is not necessarily true of guns. In spite of recent school massacres, 40 US states now have “concealed weapons” laws – many passed in the past 12 months. Again, millennials are surprisingly sceptical of gun control, say the polls. But it is on economic policy where they really part company with liberals. The Great Depression helped forge a generation of solid Democrats. The same does not appear to be true of the Great Recession. Franklin Roosevelt helped dig people out of misery in the 1930s by providing direct public employment. Mr Obama, on the other hand, has stuck largely to economic orthodoxy. He may have missed a golden opportunity to mould a generation of social democrats.

He has also inadvertently fuelled scepticism about the role of government. Mr Obama came to power in 2008 on a surge of voluntarism. He did so in part by appealing to youthful idealism about public service. That now feels like a long time ago. Distrust in public institutions has continued to rise during his presidency – most strongly among the youngest generation. The share of voters who identify as independents, rather than Democrats or Republicans, recently hit an all-time high of 42 per cent, according to Gallup. This is bad news for established figures in either party – and, indeed, in any walk of life. Hillary Clinton should beware. So should Jeb Bush.

On the minus side, libertarians have no real answer to many of America’s biggest problems – not least the challenges posed to US middle-class incomes by globalisation and technology. Nor are they coherent as a force. Libertarianism is an attitude, rather than an organisation. It is also potentially fickle. Young Americans disdain foreign entanglements. That could change overnight with a big terrorist attack on the homeland. They feel let down by Democrats and hostile to mainstream Republicans. Yet they could flock to an exciting new figure in either party. Theirs is a restless generation that disdains authority. Establishment figures should take note. Tomorrow belongs to them.

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DOE Plugs Energy Rating for Homes, Similar to MPG Rating for Cars

The Energy Department on Tuesday is rolling out new, improved software to help Americans measure the energy efficiency of their homes.

DOE says its energy-scoring software — called the Home Energy Scoring Tool – is like a vehicle’s mile-per-gallon rating because it allows homeowners to compare the energy performance of their homes to other homes nationwide. It also provides homeowners with suggestions for improving their homes’ efficiency.

The software is part of the government’s effort to reduce the nation’s energy consumption; but it’s also billed as a way to keep home-retrofitting going, at a time when stimulus funds for weather-proofing have run out.

The Home Energy Scoring Tool “can be a powerful motivator in getting homeowners to make energy efficiency improvements,” DOE says. “It’s also a great way to help trained workers enter the private sector energy improvement market as funding for weatherization efforts decline.”

DOE says its Home Energy Score is useful if you are a homeowner looking to renovate or remodel your home, lower your utility bills, improve the comfort of your home, or reduce your energy usage. Moreover, “the score serves as an official way to document these improvements and thereby enhance your home’s appeal when you’re ready to sell.”

Right now, getting your home scored is voluntary.

To produce a Home Energy Score, a trained, “qualified assessor” comes to your home — for a fee — and collects approximately 40 pieces of data about the home’s “envelope” (e.g., walls, windows, heating and cooling systems) during an hour-long walk-through.

Based on the home’s characteristics, the DOE software estimates the home’s annual energy use, assuming “typical homeowner behavior.” The software then converts the estimated energy use into a score, based on a 10-point scale (10 being the most energy-efficient). The 1-10 scale accounts for differences in weather conditions by using the zip code to assign the house to one of more than 1,000 weather stations.

In addition to showing the home’s current energy efficiency — or inefficiency — the score also shows where a home would rank if all of the energy-saving improvements identified during the home walk-through were made. That may prompt some homeowners to buy new windows or doors, for example, boosting the market for home retro-fitters.

DOE recommends getting a Home Energy Score “as soon as the program becomes available in your area.” The program launched in 2012, and at this time, only single-family homes and townhouses can be scored.

The scoring is available only through DOE’s participating partners, which include state and local governments, utilities, and non-profits. DOE does not determine how much an assessor charges to score a house. “It will depend on what the local market supports.” But DOE says its partners “have indicated plans to charge between $25 and $125 for the Home Energy Score.”

And yes, the size of the home matters because larger homes use more energy.

The Home Energy Score and the associated report is generated through DOE/Lawrence Berkeley National Laboratory software. The 2014 version of DOE’s Home Energy Scoring Tool will be introduced at a webinar on Tuesday.

So far,

home energy scoreThe Home Energy Score is similar to a vehicle’s mile-per-gallon rating, says the U.S. Energy Department. (Graphic is from DOE website)

DOE says more than 8,500 homes have been scored by the Energy Department’s growing network of more than 25 partners and 175 qualified assessors.

The business and economic reporting of CNSNews.com is funded in part with a gift made in memory of Dr. Keith C. Wold.

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Home Energy Assessments

Cathy Zoi on the new Home Energy Score pilot program

Acting Under Secretary Cathy Zoi talks about the new Home Energy Score pilot program that was announced today by Vice President Biden and U.S. Department of Energy Secretary Steven Chu. The Home Energy Score will offer homeowners straightforward, reliable information about their homes’ energy efficiency. A report provides consumers with a home energy score between 1 and 10, and shows them how their home compares to others in their region. The report also includes customized, cost-effective recommendations that will help to reduce their energy costs and improve the comfort of their homes.

200,000 homes weatherized under the Recovery Act

Home Energy Score Pilot Program Launched By DOE

Home Energy Score Qualified Assessor module 1 intro

Home Energy Score Qualified Assessor module 2

Home Energy Score Qualified Assessor module 3

Home Energy Score Qualified Assessor module 4

Home Energy Score Qualified Assessor module 5

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Home Energy Score Qualified Assessor module 7

Home Energy Score Qualified Assessor module 8

Home Energy Score Qualified Assessor module 9

Home Energy Score Qualified Assessor module 10

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Bubbles Ben Bernanke Bumps Bubble of Quantitative Easing Down By $10 Billion Per Month — Near Zero Interest Rate Policy Will Continue Well Into 2014 –Last Press Conference — Videos

Posted on December 18, 2013. Filed under: American History, Banking, Blogroll, College, Communications, Constitution, Economics, Education, Employment, Federal Government, Federal Government Budget, Fiscal Policy, government, government spending, history, Inflation, Investments, IRS, Language, Law, liberty, Life, Links, Macroeconomics, media, Microeconomics, Monetary Policy, Money, People, Philosophy, Politics, Public Sector, Regulations, Resources, Reviews, Strategy, Talk Radio, Tax Policy, Taxes, Technology, Unemployment, Unions, Video, War, Wealth, Wisdom | Tags: , , , , |

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Segment 1: Bubbles Ben Bernanke Bumps Bubble of Quantitative Easing Down By $10 Billion Per Month — Near Zero Interest Rate Policy Will Continue Well Into 2014 –Last Press Conference — Videos

Bernanke-press-conference-Dec-18-2

Bernanke on Fed taper in 90 seconds

Fed Chairman Ben Bernanke’s Final Speech

Press Conference with Chairman of the FOMC, Ben S. Bernanke

FED Downgrades Economic Outlook & Says It Will Not Change Policy – Stuart Varney

US Federal Reserve to pull back on stimulus program in economic vote of confidence

Assessing the Ben Bernanke Legacy

Background Articles and Videos

Max Keiser Discusses QE & Rigged Global Markets

Peter Schiff Was Right – ‘Taper’ Edition (Dec 18, 2013 Update)

Peter Schiff We’re in Depression, Dollar Crisis Coming

Peter Schiff Money Causes Economic Crises – Peter Schiff Economic Crisis – Peter Schiff Money

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