Saturday, November 17, 2012

OBAMA'S UNENDING RECESSION

More Regulation means fewer jobs for minorities -- Duh!

The Obama Recession
http://townhall.com/columnists/johncgoodman/2012/11/17/the_obama_recession
Townhall – John C. Goodman – 11/17/2012

Full time work is about to get scarcer. The reason? By hiring part-time workers who put in less than 30 hours per week, employers can avoid a mandate dictated by the new health reform law: either provide expensive health insurance or pay a fine equal to $2,000 per worker. Avoiding the mandate becomes even more attractive for low-wage employees, since they can get highly subsidized insurance in the newly created health insurance exchanges. According to the Wall Street Journal:

Clearly the Affordable Care Act (ObamaCare) is a major factor holding back economic recovery. But it’s not alone. Other public policies enacted during the Obama administration’s first four years have been affecting the supply side of the market.

A new book by University of Chicago economist Casey Mulligan estimates that about half the precipitous 2007-2011 decline in the labor-force-participation rate and in hours worked can be blamed on easier eligibility rules for unemployment insurance, food stamps and housing aid.

The annual value in average benefits for not working rose to $14,000 per recipient in 2011 — the high was $16,000 in 2009 — up from $10,000 in 2007. Such increases were inversely related to changes in average hours worked. On average, Americans worked a stunning 120 fewer hours in 2009 than in 2007 — the largest contraction in work effort of any recession since the Depression. Since 2009, work hours and labor-force participation have remained at record lows even though the recession officially ended in June 2009.

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