junk

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How is the chart politically slanted? It may have been reposted by the American Enterprise Institute, but it comes from the Federal Reserve. It shows the link on the graph.

Furthermore, it uses data from the Bureau of Labor statistics. I even provided a link to the Bureau of Labor Statistics so you could check the data:

http://data.bls.gov/timeseries/LNS12300000

It's not a "political slant" to point out that the labor market collapsed during the Obama Recovery. That's a matter of historical record. No one debates it. Now, you may argue the cause and whether or not it's the fault of President Obama, but the collapse itself is a factual and verified occurrence.

It has been modified from the source data. You can certainly go to the federal website and get that data, but I don't think it has the cute red and blue arrows on it.

The titles of those arrows are misleading at best. They aren't even comparing the same thing. The red arrow notes "Expanding labor market during Reagan recovery" and points to the period following the recession. The blue arrow points to the actual recessionary period with the title "Collapsed labor market depression during recovery".

If you look at the recessionary periods, both were a collapsing labor market. Now, you could certainly argue Obama's recovery period has been stagnant and didn't show the growth of the Reagan recovery, but the titles, arrows and data it is trying to convey is misleading in my opinion.

Like I said, I don't really care, I was just curious where it came from. I certainly won't defend anything Obama has done.
 

junk

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FRED,why do you insist on being obtuse?
I told you from personal experience,full knowledge of the topic at hand and historical evidence.
Just because I do not provide you with a chart from an organization you deem credible renders my point invalid?
I answered your question from a insider standpoint.
Scipio provided you the data.
You accept neither because it does not conform to what you believe,even when you admit you don't have the answer.
We gave you the answer.
It is just too inconvenient for you to accept it.

You provided anecdotal evidence. So, no, I don't believe you provided anything credible. An "insider" standpoint? Because you are Latino, you can definitively speak for all Latinos? LOL

Scipio provided data, I agree about that. He didn't provide the data I asked about originally, but he did provide data. However, he himself said he didn't know the answer either. However, you somehow believe that between what he posted and what you said that somehow some sort of evidence was provided.

I've readily admitted I don't know the answer, which is why I asked the questions. All I've seen so far though is a chart showing that the labor market is depressed and some "insider" info from a guy who claims all Latinos are just going to come here to welch off the welfare system. Consider me skeptical.
 

ScipioCowboy

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It has been modified from the source data. You can certainly go to the federal website and get that data, but I don't think it has the cute red and blue arrows on it.

The titles of those arrows are misleading at best. They aren't even comparing the same thing. The red arrow notes "Expanding labor market during Reagan recovery" and points to the period following the recession. The blue arrow points to the actual recessionary period with the title "Collapsed labor market depression during recovery".

If you look at the recessionary periods, both were a collapsing labor market. Now, you could certainly argue Obama's recovery period has been stagnant and didn't show the growth of the Reagan recovery, but the titles, arrows and data it is trying to convey is misleading in my opinion.

Like I said, I don't really care, I was just curious where it came from. I certainly won't defend anything Obama has done.

How is it misleading? The recession was over in June 2009, and the labor market didn't bottom out until November 2010 -- a year and five months later. That means the labor market didn't stop imploding until almost a year and a half of "recovery" had gone by. To make matters worse, almost four years later, the labor market still hasn't rebounded.

http://data.bls.gov/timeseries/LNS12300000
http://www.bea.gov/iTable/iTable.cf...i=1&910=X&911=0&903=1&904=2008&905=2013&906=Q

By contrast, the recession of the early 1980s ended in November 1982 with an employment-participation ratio of 57.3 percent. One year and five months later (the same point in time from the end of late 2000s recession), the employment-participation ratio was at 59.1 percent.

This is clearly visible on the chart:

Reagan labor market vs Clinton labor market.jpg
 

ScipioCowboy

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All that aside, what's most impressive about the Reagan Recovery is that Reagan granted amnesty in 1986 and had robust enough growth to provide jobs for all the minorities and women entering the work force. Our job market is not as strong as now. Assimilating waves of new immigrants (assuming it does lead to new immigration) would prove challenging.

One solution -- albeit controversial -- would be to undo the artificial wage floor. Then, the market could easily adapt to the influx of new immigrants.
 

jeebus

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Absolutely.
If you flood the market with new workers,wages by mathematical rule will decrease.No way around it.
And yes,it is a sad statement that many Americans are choosing government dependency as a means of sustenance.
Welfare is NOT a career opportunity.

When you can make 30 + grand a year in government assistance who wants to earn $12 an hour?
 

junk

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Juke, if you are really interested in the numbers. Amnesty will cost us over $6 trillion. That include taxes paid by the newly legal. It is a long and in depth report.

http://thf_media.s3.amazonaws.com/2013/pdf/sr133.pdf
Yeah, I saw an article talking about this yesterday.

Some interesting/disturbing items in there:

The governmental system is highly redistributive. Well-educated households tend to be net tax contributors: The taxes they pay exceed the direct and means tested benefits, education, and population-based services they receive. For example, in 2010, in the whole U.S. population, households with college-educated heads, on average, received $24,839 in government benefits while paying $54,089 in taxes. The average college-educated household thus generated a fiscal surplus of $29,250 that government used to finance benefits for other households.

Many conservatives believe that if an individual has a job and works hard, he will inevitably be a net tax contributor (paying more in taxes than he takes in benefits). In our society, this has not been true for a very long time. Similarly, many believe that unlawful immigrants work more than other groups. This is also not true. The employment rate for non-elderly adult unlawful immigrants is about the same as it is for the general population.

In 2010, there were 120.2 million households in the U.S.(This figure includes both multiperson families and single persons living alone.) The average cost of government spending thus amounted to $44,932 per household across the U.S.population.

The $5.4 trillion in government expenditure is not free; it must be paid for by taxing or borrowing economic resources from Americans or by borrowing from abroad. In FY 2010, federal taxes amounted to $2.12 trillion. State and local taxes and related revenues amounted to $1.98 trillion. Together, federal, state, and local taxes amounted to $4.11 trillion. Taxes and related revenues came to 75 percent of
the $5.4 trillion in expenditures. The gap between taxes and spending was financed by government
borrowing.

The portion about expenditures on direct benefits ($1.33 trillion in 2010), means tested benefits ($758 billion), population based services ($871 billion) and Interest and Other Financial Obligations Relating to Past Government Activities ($533 billion) was interesting.

Table 5 shows government benefits received and taxes paid by the average household in the whole
U.S. population. In FY 2010, the average household received a total of $31,584 in government direct benefits,means-tested benefits, education, and population-based services. The household paid $30,426 in federal, state, and local taxes. Since the benefits received exceeded taxes paid, the average household had a fiscal deficit of $1,158 that had to be financed by government borrowing.

So, that means that for all government spending (including benefits), the average household cost was $44,932. The benefits portion of that is $31,584 while the average household only paid $30,426 in federal, state, and local taxes. So, the government is running at a deficit of $14K per household. Interesting seeing that broken down by household.

If you break it down by household, the portion of that that is what is typically considered welfare (means tested - food stamps, public housing, WIC, Medicaid, etc) would be $6,944. The only benefits that are lower are educational benefits and interest and other spending due to past government services. Largest is, by far, direct benefits (Social Security and Medicare). The one that is scary is interest and other spending due to past government services since that is basically interest on what the government borrows and pensions to government employees.

Thanks, JBond. I haven't gotten all the way through it yet, but tons of good data. Definitely points towards amnesty not being a very feasible option (although I saw other economists came out and disputed the report). Eye opening how much of a deficit each household runs and how much of that is what we think of as "welfare". Really need to cut down SS and Medicare costs (among other things).

The generation retiring now better enjoy it. They'll get their retirement (pensions, SS, Medicare) while this generation pays for it and, in my opinion, is unlikely to ever see those types of benefits. Just seems unsustainable.
 

jnday

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You guys can get all the stats in the world on the US not being able to afford amnesty, but it is not going to change the politicians. They are afraid that the fast growing latino minority won't vote for them. They are more worried about reelection than what is good for this country. It's all about the money and power and how they can keep it. These piece-of-shit politicians are going to be the downfall of this country. You guys can worry about it if you want, but your few votes are not going to change things.
 
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