Tuesday, May 22, 2012

More Obama records!

No, I'm not talking college transcripts and other sealed records...I'm talking about more record-breaking stats that our current administration, including congressional leadership from both sides of the aisle, has procured under the leadership of the One...and they're far from rosy scenarios.

Retirement: It's an Obama World...work 'til you drop

TheNewYorkTimes (via GatewayPundit): The retirement dream seems further away for a lot of baby boomers, and they appear to be responding to that by holding on to their jobs if they can. But that may have worsened the employment prospects for younger workers.

Labor Department figures indicate that the percentage of workers over the traditional retirement age of 65 is at a record high. But, the figures show, job totals fell sharply for men under 55 during the recession and have only started to recover, while the proportion of women ages 25 to 54 with jobs also slid and is close to the lowest level of the last two decades.

For the first time since the government began keeping track of the numbers in 1981 — and probably the first time ever — one in nine American men over the age of 75 was working in April. About one in 20 women over that age have jobs.

College Grads: Spirits high...but salaries won't be

LosAngelesTimes: Newly minted college graduates lucky enough to find a job after leaving school are in for a shock: They’ll likely be earning less money than they would have a decade ago.

Since 2000, these young workers have seen inflation-adjusted wages deteriorate, according to research by the Economic Policy Institute.

Here’s the math: In 2011, fresh college grads earned an average of $16.81 an hour, or about $35,000 a year. That’s down 5.4% from 2000. Women fared worse than men. Their wages declined 8.5% to $15.74 an hour over the same period while those of men dipped 1.6% to $18.29 an hour.

The decline means real money: roughly a $2,000 drop in annual earnings, according to EPI.

Households: Drenched by budgetless 'bipartisanship'

CNSNews: The White House and the congressional leaders of both parties in Congress have begun maneuvering this week over the issue of the federal debt and what to do when the government hits the latest statutory limit on that debt--$16.394 trillion—which Congress and the president agreed to when they cut a deal on the debt limit last August.

The federal debt is currently $15.709 trillion, or about $685 billion below the limit.

Since that March 4, 2011 bipartisan continuing resolution, the federal government has been funded by a series of bipartisan deals cut between the White House and congressional leaders.

In the meanwhile, under these bipartisan spending deals, according to official figures published by the U.S. Treasury, the federal debt has climbed from $14,182,627,184,881.03 to $15,708,753,671,767.64.

That is an increase of $1,526,126,486,886.61.

Given that the Census Bureau estimates there are about 117,538,000 households in the United States, the per household increase in the federal debt since Congress enacted its March 4, 2011 bipartisan spending deal has been approximately $12,984.

By the way, with that last one, that nearly $13k is only a part of the average American household debt, which is nearly $118k!

Recovery? This is but a sliver of the record that Obama doesn't want to run on.

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