A study recently published by the National Employment Law Project reports that a plurality of the new jobs created under the Administration’s economic policies have been low-wage jobs. Data analyzed in the study indicated that while 22% of the jobs lost during the recession were low-wage, 44% of the jobs created since then are low-wage. “If proof were needed that this president is on the side of the little guy this is it,” said Jason Furman, Chairman of the President’s Council of Economic Advisers. “Expanding job opportunities for those with little education and few skills focuses on the population cohort that is most in tune with the President’s view of the world.” “Combined with government assistance like food stamps, public housing, subsidized health insurance and miscellaneous free stuff these low-wage jobs can be an ideal situation for a lot of these people,” Furman explained. “The fact that a majority of these new jobs are part time means that a hefty share of the low-wage segment are also enjoying a highly coveted extra leisure time to spend with their families.” “Step-by-step, the President’s policies are breaking down the preconception that each individual has to provide for himself and his family by working full time at a high-wage job,” Furman continued. “More and more people are coming to realize that a package of government benefits combined with some part time work is an attactive and viable life style in a transformed America.” Maybe a more persuasive “vindication” of the President’s economic policies is the reported anemic one-tenth of one percent annual growth in GDP achieved in 2014′s first quarter. As bad as this is, the Administration is bragging that it would’ve been worse without Obamacare. “Without this law forcing people to pay an added 10% for medical care during the quarter GDP growth would have been negative,” Furman asserted. “Can we really dare to think of repealing this economic shot-in-the-arm?” The Congressional Budget Office projects that this “shot-in-the-arm” will compel taxpayers to pay more than $50,000 per year for every person that has signed up for Obamacare. The CBO also predicts that within 10 years the Affordable Care Act will have reduced the number of uninsured Americans from a current estimated 42 million down to a lower total of 31 million.
Posted on: Sat, 03 May 2014 18:33:07 +0000
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