Skip to comments.“Recovery Summer” Scorecard: 170,000 More on Disability Than Decline in Unemployment
Posted on 06/02/2012 10:23:01 AM PDT by whitedog57
Since President Obama was inaugurated in January 2009, I will ignore the summer of 2009 since the economic policies adopted by his Administration did not have time to fully kick-in. So, I am starting the Recovery Summer scorecard as of July 1, 2010.
So, we have had two recovery summers (2010 and 2011) and we are entering the third recovery summer. Here is the scorecard beginning with July 1 2010 and ending with the latest BLS report for May 1, 2012.
While unemployment has fallen since the beginning of the 2010 recovery summer by 1,899,000, the number of people going of disability grew by 2,059,000 for a NET INCREASE of 170,000 going on disability.
Last month, the net increase in people going on disability was 100,000 greater than the decline in unemployment. So, the disability-to-unemployment situation is worsening.
Since the 2010 recovery summer began, the Federal debt held by the public has swelled by $2.38 trillion. And the employment to population ration has risen by 0.10% to 58.60%.
And U6 unemployment is at just under 15% after two recovery summers while labor force participation fell to 63.8 from 65.3.
So, we have $2.38 trillion MORE in debt and 170,000 MORE people going on disability than the reduction in unemployment. That is a disastrous performance record for the Obama/Romer/Summers/Goolsbee top-down, BIG government, Keynesian/Hicks-Hansen/Krugman philosophy.
I have a suggestion for The Obama Administration. Just change your mantra to Slumber Summer. And change the Department of Labors logo to Slumber Inc from the James Bond flick Diamonds are Forever.
(Excerpt) Read more at confoundedinterest.wordpress.com ...
Again, over $2 trillion in Federal debt so more people can go on disability. What a pathetic record!!!!!!!!!!!
As Nasty Pelosi might say, more people on “disability” is “good for the economy”. What a ditz.
The 99ers are just going from unemployment to SS disability. They can have back pain, depression, fibromyalgia or whatever. Then, they can qualify for Medicaid and get prescription narcotics which can fetch a pretty penny. A few cash jobs here, food stamps, and food pantries there, and you have a relatively comfortable middle class welfare lifestyle.
I’m sure these millions of newly disabled will be getting a letter come the Fall reminding them of the source of this largess.
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