Posted by Tina
If you’re fortunate enough to have a job in this economy it will come as no big favor that programs designed to help the poor and elderly account for billions of dollars in government waste in 2014. The figure, roughly $124.7 billion, represents a 20% increase over the prior year in 124 different programs. Medicare, Medicaid and the Earned Income Tax Credit programs account for more than 75 percent of the total. The improper payments are the result of fraud, unintentional clerical errors, and various unexplained “other reasons.”
$124 Billion represents a lot of work and investment dollars, the sweat and the risk taking of the working population.
Read more here: McClatchy
Remember economist declared the Great Recession over in June 2009. Welcome to the Obama non-recovery.
From below article:
“As you can see from the chart above, the labor force participation rate increased steadily from the early 1960s through the early 2000s as more women entered the labor force. Since the Great Recession, however, the labor force participation rate has declined. It’s back to levels we haven’t seen since the late 1970s.
In September, the labor force participation rate slid to 62.4%, its lowest point since 1977. The labor force declined from 157.1 million to 156.7 million, while the population increased from 251.1 million to 251.3 million. To put the change in the labor force participation rate into perspective, roughly half the gains that were attributed to women entering the labor force, starting in the 1960s, have been lost. This is one of the biggest reasons the economy remains subpar. Yes, Baby Boomers are retiring, but the Millennial generation is larger and is having trouble replacing them.”
http://marketrealist.com/2015/10/labor-force-participation-rate-drops/