Tuesday, October 22, 2013

Treason, Sedition or GOP politics as usual, what's in a name?

The September jobs numbers are in two & 1/2 weeks late thanks to the $24b exercise in Sedition. It's called Sedition and not called Treason since no foreign power was involved in the attempted overthrow of the government of the United States, that's if you don't count Ted Cruz as an agent of Imperial Canada. The 148,000 new jobs created last month were more than twice the rate of new workers entering the workforce, and you have workers leaving into retirement at a higher than normal rate with the peak of the Baby Boomers leaving for the rocking chair. This is basically what's pushing down the unemployment rate and not huge numbers of 'discouraged' workers the media likes to talk about. Although a lot of older people would keep working if they could find a decent job. We can't all be overpaid radio talk show personalities in our twilight years.

The best estimate for the economic damage from the right wing Sedition is a 0.25% reduction in GDP or about $40b per year for the foreseeable future, that is until the economy fully recovers from its current slump. The Republicans have already hindered GDP growth by one percentage per year for the three years that they've controlled the House. They are currently cutting output by 3% or about half a trillion dollars each year and the damage continues to build.

All but the most stupid of Republican leaders know that this is the effect that they're having on the economy. You can tell because they create talking points that say the opposite. Liars often don't know when to just keep their mouths shut.

Contrary to the news reports, ObamaCare sign up has been a huge success. They are on track to exceed the half million enrollee goal for October despite all the glitches that are primarily occurring in Red States where the Federal website is having problems interacting with state databases. A total of 500,000 subscribers might not sound like that many out of the 40 million people who need coverage, but enrollment isn't counted until the new policy holder pays their first premium, and the bulk of enrollees have been deferring that first payment until December, so we really don't know how many people have actually signed up. Around Christmas time things are likely to suddenly become very festive around the White House when the enrollment numbers for Obama's namesake start coming in.

Twitter @BruceEnberg - Helping you keep track of the acts of Sedition, Treason and Tea Bagging by the paid saboteurs from the right