Posts Tagged ‘jobs

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19
Jul
15

A Well Earned Thank You

By Nerdy Wonka 138 Comments
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Obama CIC

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Dick Meyer: Mr. President, On Behalf Of An Ungrateful Nation, Thank You

I’ve never written a column like this. Readers rarely believe it, but I am not on any political team. Generosity toward the high and mighty isn’t among my few virtues. But this needs to be said: Americans are lucky to have Barack Obama as president and we should wake up and appreciate it while we can. President Obama will go down in history as an extraordinary president, probably a great one. He will have done this in era that doesn’t aggrandize leaders and presidents, but shrinks them. All presidents have had profound opposition, vicious enemies and colossal failures. A few were beloved and others deeply respected in their day, but none in the modern era and certainly not Obama.

Obama This Guy

One can hate Democrats, disagree with Obama on big issues, dislike his style or be disappointed the excitement of his election didn’t last. But his accomplishments, ambitious goals, dignity and honesty under tough circumstances demand admiration and appreciation. 1. The Iran deal: Time will reveal if the deal worked, not today’s talking/tweeting heads. What cannot be in dispute is this was a momentous initiative, a gutsy political risk, a diplomatic success and, potentially, a giant step in defusing a long-ticking time bomb. 2. Obamacare: In the midst of the worst economy since the Great Depression, Obama delivered one of the most important domestic programs since the New Deal. Only LBJ’s Great Society laws compare. Obamacare has survived two challenges in the Supreme Court and constant, kabuki-style congressional votes to repeal. It’s now off life support. Key goals are being met. It will evolve and improve. One day it will be taken for granted and people will say, “Keep the government out of my Obamacare.”

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07
Jul
15

The Obama Economy: Labor Market Recovery Is The Best In 25 Years

By Nerdy Wonka 111 Comments
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Obama Mount Rushmore

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Hale Stewart: The Recovery In The Labor Market Is The Best In 25 Years

Every month we read stories about what a poor labor market recovery this has been. The latest articles were from Profs. Brad DeLong and Menzie Chinn. I respectfully disagree. With few exceptions, people don’t get a job for social reasons. They go to work each day in order to earn money to purchase necessities, discretionary goods, and to save for future needs. In short, they work because of cold, hard cash. Next, let’s compare two economies that both create 1 million 40 hour a week jobs, but one pays $10/hour and the other pays $12/hour. Clearly the second economy is better. It is paying workers 20% more than the first.

Finally, let’s compare two economies that create 1 million 40 hour a week jobs at $10/hour. In the first economy, there are 3% annual raises, but inflation is rising 4%. In the second, there are 2% annual raises, but inflation is rising 1%. Again, even though the second economy is giving less raises, it is the better one — those workers are seeing their lot improve in real, inflation-adjusted terms, whereas the workers in the first economy are actually losing ground. In other words, the best measure of a labor market recovery is that economy which doles out the biggest increase in real aggregate wages. The bottom line is that, measured 5 years and 11 months out from the bottom, this labor market recovery has been the third best of the 7 expansions, behind the 1960s and 1980s

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05
Jul
15

Some News We Missed

By Nerdy Wonka 94 Comments
Categories: All Photos
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Get yourself together, Twitter and accompanying social media platforms

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Continue reading ‘Some News We Missed’

02
Jul
15

Enthusiasm Gap? I Think Not

By Nerdy Wonka 46 Comments
Categories: All Photos
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02
Jul
15

The President’s Day

By Nerdy Wonka 159 Comments
Categories: All Photos and All Videos
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President Barack Obama looks out over the audience after speaking at the University of Wisconsin at La Crosse, in La Crosse, Wisc., Thursday, July 2, 2015, about the economy and to promote a proposed Labor Department rule that would make more workers eligible for overtime. (AP Photo/Carolyn Kaster)

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President Barack Obama pauses while speaking at the University of Wisconsin at La Crosse, in La Crosse, Wis., Thursday, July 2, 2015, about the economy and to promote a proposed Labor Department rule that would make more workers eligible for overtime. (AP Photo/Morry Gash)

President Barack Obama speaks at the University of Wisconsin at La Crosse, in La Crosse, Wisconsin, about the economy and to promote a proposed Labor Department rule that would make more workers eligible for overtime

A woman holds up a sign as U.S. President Barack Obama speaks about the economy during a visit to the University of Wisconsin La Crosse in La Crosse, Wisconsin July 2, 2015. REUTERS/Kevin Lamarque

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President Barack Obama pauses as he speaks at the University of Wisconsin at La Crosse, in La Crosse, Wis., Thursday, July 2, 2015, about the economy and to promote a proposed Labor Department rule that would make more workers eligible for overtime. (AP Photo/Carolyn Kaster)

President Barack Obama arrives to speaks at the University of Wisconsin at La Crosse, in La Crosse, Wis., Thursday, July 2, 2015, about the economy and to promote a proposed Labor Department rule that would make more workers eligible for overtime. (AP Photo/Carolyn Kaster)

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President Barack Obama speaks at the University of Wisconsin at La Crosse, in La Crosse, Wis., Thursday, July 2, 2015, about the economy and to promote a proposed Labor Department rule that would make more workers eligible for overtime. (AP Photo/Carolyn Kaster)

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President Barack Obama shakes hands with supporters after speaking at the University of Wisconsin-La Crosse Cartwright Student Center Thursday, July 2, 2015, in La Crosse, Wis. (AP Photo/Morry Gash)

President Barack Obama waves to the crowd as he arrives to speak at the University of Wisconsin at La Crosse, in La Crosse, Wis., Thursday, July 2, 2015, about the economy and to promote a proposed Labor Department rule that would make more workers eligible for overtime. (AP Photo/Carolyn Kaster)

President Barack Obama shakes hands as he arrives to speak at the University of Wisconsin at La Crosse, in La Crosse, Wis., Thursday, July 2, 2015, about the economy and to promote a proposed Labor Department rule that would make more workers eligible for overtime. (AP Photo/Carolyn Kaster)

President Barack Obama arrives to speak at the University of Wisconsin at La Crosse, in La Crosse, Wis., Thursday, July 2, 2015, about the economy and to promote a proposed Labor Department rule that would make more workers eligible for overtime. (AP Photo/Carolyn Kaster)

President Barack Obama greets people in the audience after speaking at the University of Wisconsin at La Crosse, in La Crosse, Wis., Thursday, July 2, 2015, about the economy and to promote a proposed Labor Department rule that would make more workers eligible for overtime. (AP Photo/Carolyn Kaster)

U.S. President Barack Obama waves to the audience after speaking about the economy during a visit to the University of Wisconsin La Crosse July 2, 2015. REUTERS/Kevin Lamarque TPX IMAGES OF THE DAY

A young boy looks up at U.S. President Barack Obama as Obama greets his audience after speaking about the economy during a visit to the University of Wisconsin La Crosse July 2, 2015. REUTERS/Kevin Lamarque

Young boys pose for a photo with U.S. President Barack Obama as Obama greets his audience after speaking about the economy during a visit to the University of Wisconsin La Crosse July 2, 2015. REUTERS/Kevin Lamarque

President Barack Obama arrives to speak at the University of Wisconsin-La Crosse Cartwright Student Center Thursday, July 2, 2015, in La Crosse, Wis. (AP Photo/Morry Gash)

02
Jul
15

Thank You For The Jobs, President Obama!

By Nerdy Wonka 93 Comments
Categories: All Photos
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30
Jun
15

President Barack Obama: A Champion For Workers

By Nerdy Wonka 113 Comments
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Chicago Sun Times Obama

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President Barack Obama: A Hard Day’s Work Deserves A Fair Day’s Pay

It’s been a good few days for America. On Thursday, the Supreme Court reaffirmed the Affordable Care Act. It is here to stay. And, Democrats and Republicans in Congress paved the way for the United States to rewrite the rules of global trade to benefit American workers and American businesses. On Friday, the Court recognized the Constitutional guarantee of marriage equality. With that ruling, our union became a little more perfect — a place where more people are treated equally, no matter who they are or who they love. These steps build upon America’s steady progress in recent years. Out of the depths of recession, we’ve emerged ready to write our own future. Our businesses have created 12.6 million new jobs over the past 63 months — the longest streak on record. More than 16 million Americans have gained health insurance. More kids are graduating from high school and college than ever before. But more work lies ahead, if we are to succeed in making sure this recovery reaches all hardworking Americans and their families.

We’ve got to keep making sure hard work is rewarded. Right now, too many Americans are working long days for less pay than they deserve. That’s partly because we’ve failed to update overtime regulations for years — and an exemption meant for highly paid, white collar employees now leaves out workers making as little as $23,660 a year — no matter how many hours they work. This week, I’ll head to Wisconsin to discuss my plan to extend overtime protections to nearly 5 million workers in 2016, covering all salaried workers making up to about $50,400 next year. That’s good for workers who want fair pay, and it’s good for business owners who are already paying their employees what they deserve — since those who are doing right by their employees are undercut by competitors who aren’t. That’s how America should do business. In this country, a hard day’s work deserves a fair day’s pay.

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Mike Dorning: Obama Plans To Expand Overtime Eligibility For Millions

The Obama administration plans to raise the wages of millions of Americans who work more than 40 hours a week by requiring their employers to pay them overtime. Workers who earn as much as $970 a week would have to be paid overtime even if they’re classified as a manager or professional, based on draft rules to be announced as soon as Tuesday, said an administration official. Many employees now receiving as little as $455 a week, or $23,660 a year — below the federal poverty line for a family of four — aren’t entitled to overtime pay because they are classified as managers exempt from overtime pay. The regulations, from the Labor Department, would take effect in 2016, said the official, who asked for anonymity because the plan hasn’t been announced. Workers in retail stores and restaurants are among most likely to be affected.

“You would be hard pressed to find a rule change or an executive order that would reach more middle class workers than this one,” said Jared Bernstein, a former economic adviser to Vice President Joe Biden who is now a senior fellow at the Center for Budget and Policy Priorities. The median U.S. household income of $54,600 in April was $1,600 short of the amount at the start of the recession in December 2007, according to inflation-adjusted estimates from Sentier Research. Ross Eisenbrey, vice president of the Economic Policy Institute, a research group partly funded by labor unions, has estimated that the higher salary threshold would expand overtime to as many as 15 million additional workers.

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