The Pardu

The Pardu
Watchful eyes and ears feed the brain, thus nourishing the brain cells.
Showing posts with label Paul Krugman. Show all posts
Showing posts with label Paul Krugman. Show all posts

Monday, June 5, 2017

Climate Money Grab (Coal?)


Trump and his climate Money Grab.





National support for US participation int he Paris Agreement rivals American support for the ACA. As has been the case from the GOP throughout recent history, its politicians do not give a damn about public sentiment (until months before elections).
Of course, you aren't naive enough to actually believe Trump would stand alone against the Agreement. When he has the backing of the Koch brothers and these US Senators, his decision became a slam-dunk.

From public sentiment in relation to GOP money grabs, we move to a visit with a trump czar who seems to ant to rival Trump as Liar-In-Chief.


Did someone mentions 50,000 coal industry jobs? Well, not only is the president a serial liar, he employs people who fit into his non-reality chicken coup.
No, the coal jobs claim is false: Politifact.

Pruitt is also inclined to grab a camera and accompanying microphone to spew a common Trump lie regarding US climate change improvements.  Not so fast!
Let's not pat ourselves on the back too quickly. America has reduced but still is Top 10 CO2 emissions by capita. #ParisAgreement pic.twitter.com/gIbPbhhoCj
— Brutus (@sgriffin_87to98) June 4, 2017
We are also culpable in sitting idle way too long to affect GOP policies based on money grabs. Take a look at how US major network News has covered issue related to climate change Vs other (relatively superfluous in the grander scheme of things) issues.
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Friday, May 17, 2013

House Votes to Repeal Obamacare. Why? The Answer Looks Bad.



John Boehner says, “We. Will. Repeal.”
The White House says, “It’s. The. Law”


Do you want perspective on why the GOP has spent 15% of its time on insane repeal Obamacare votes?  Could the governing fallacy have to do with steady stream of contribution to Hose Representatives? If you chose to not view the charts below  at least view the Open Secrets links.  The ;picture is stark and will slap you in the face.

First, let's visit a quote from a very intelligent person.

Insanity: doing the same thing over and over again and expecting different results.
Blog Market Watch Dot Com published an interesting piece on the GOP and their insanity regarding the useless Affordable Care Act repeal votes. The John Boehner and White House tweets above are extracted from the piece. 

If you read the TPI piece "The Gallery of Shame" you read about the gun lobbying expenditures and contributions to GOP members of Congress.  The contributions shed light on why each member of the US Senate blocked background check legislation. A few Democrats also voted to block background checks and that link shows they probably voted out of fear as the money did not trickle over to their "open accounts". 

Market Watch used an interesting interactive paragraph to show how the ACA has cut into the earnings (share prices) of top Health care Insurance companies. 

Excerpt

Since there is virtually no chance the Democratic-controlled Senate will pass the legislation — and an even more remote possibility Obama would sign it — the move is more a political ploy.

Excerpt

Since the law was enacted in March 2010, share prices of four of the five major U.S. insurers — Aetna Inc. AET -0.50% , Cigna Corp. CI -1.09% , Humana Inc. HUM -0.19% , and UnitedHealth Group Inc. UNH +0.86% — have nearly doubled in value. The fifth, WellPoint Inc. WLP -1.27% , has gained about 20%. The company has struggled with declining membership enrollment and higher medical costs. Read more on Health Exchange blog.

As is frequently the case, regarding the specific corporations listed, we took the Market Watch paragraph above and sought more insight into money trails and corporate performance under the Affordable Care Act. (ACA) We sought narrative information from Reuters, charts from Yahoo Finance, and political contribution information from Open Secrets.  The Think Progress table below concisely summarizes information  about the Market Watch companies. All sources are link on a per corporation basis.

Despite Market Watch's clear indication that four of the five corporations have suffered "Share Prices" erosion, data from other sources (As delineated above) show stellar revenue performance with an exception for WellPoint. In fact, it may be purely coincidental, but charted indicators below show post Obama Stimulus performance at the level of phenomenal. The Stimulus is not a primary consideration and focus of this piece; the charted data drew attention comparable to an unattended "Benjamin" ($100.00 bill) lying in front of me. 




Aetna Inc.
Open Secrets Dot Org: Link
 PROFITS, REVENUES RISE (Q3 2012)


Aetna said its third-quarter profit had risen to $499.2 million, or $1.47 per share, from $490.4 million, or $1.30 per share, a year earlier.


Excluding tax benefits and other special items, earnings rose to $1.55 per share from $1.40. That was ahead of analysts' average estimate of $1.34, according to Thomson Reuters I/B/E/S.


Last week, larger competitor UnitedHealth Group Inc (UNH.N) also reported earnings above Wall Street expectations.


Aetna's revenue increased to $8.9 billion from $8.4 billion, in line with expectations. The company attributed the rise to higher insurance premiums in its commercial, Medicare and Medicaid businesses.


Aetna added 149,000 new medical members in the quarter to reach its full-year goal of 18.2 million.
 Chart forAetna Inc. (AET)
 Cigna Corp.
Open Secrets Dot Org: Link 
NET INCOME FALLS May 2013

Cigna's first-quarter net income fell to $57 million, or 20 cents per share, from $371 million, or $1.28 per share, a year earlier.
The results included a previously announced $507 million charge for a February deal with Berkshire Hathaway Inc (BRKa.N), which will reinsure two of Cigna's closed annuity reinsurance businesses and remove risk from the company's balance sheet.
Excluding that charge and other items, earnings were $497 million, or $1.72 per share, up from $359 million, or $1.24 per share, a year earlier.
On that basis, analysts were expecting $1.43 per share, according to Thomson Reuters I/B/E/S.
"The beat was driven by stronger-than-expected medical cost management," Oppenheimer & Co analyst Michael Wiederhorn wrote in a research note.
Chart forCigna Corp. (CI)
Humana Inc. 
Open Secrets Dot Org: Link
PROFIT DOUBLES
Humana's first-quarter net income nearly doubled to $473 million, or $2.95 per share, from $248 million, or $1.49 per share, a year earlier.The company said results were 26 cents a share higher than expected because of favorable claims settlements and the delayed cuts to Medicare reimbursement. Excluding those benefits, earnings of $2.69 a share were far higher than the $1.81 that analysts polled by Thomson Reuters I/B/E/S were expecting on that basis.

 Chart forHumana Inc. (HUM)
UnitedHealth Group Inc.
Open Secrets Dot Org: Link 
 ADVERSE INCENTIVE
The company said first-quarter net profit was $1.2 billion, or $1.16 per share, down from $1.4 billion, or $1.31 per share a year earlier.
Analysts on average had been expecting earnings of $1.14 per share, according to Thomson Reuters I/B/E/S.


Investors may have been surprised that the company did not beat earnings by more given that some hospital groups have reported low use of services this quarter, which typically benefits insurers, said Chris Rigg, an analyst at Susquehanna Financial Group. Hospital groups HCA Holdings Inc (HCA.N) and Health Management Associates Inc (HMA.N) both warned that admissions were weak in the first quarter.


"The data points we've gotten from the providers would have suggested a larger beat in the quarter," Rigg said.


The company also lowered its 2013 revenue expectation by $2.5 billion to $122 billion because a major public-sector customer had switched out of a full-risk plan to a self-funded insurance plan. In the latter, the customer pays for its employee healthcare and UnitedHealth administers the plan. UnitedHealth, which provides these services to many large companies, receives lower revenue in that fee-based business.


The switch comes as employers and insurance providers brace for the next wave of implementation of the Affordable Care Act.


"There is an adverse incentive in the Affordable Care Act to move from full-risk insurance to a service, self-insurance type model," Jefferies & Co analyst David Windley said. Moving to a self-funded plan can enable employers to avoid the new insurance premium tax next year, he said.
Chart forUnitedHealth Group Incorporated (UNH)
WellPoint Inc.
 Open Secrets Dot Org: Link
WellPoint reported a profit of $885.2 million, or $2.89 per share, up from $856.5 million, or $2.53 per share, a year earlier. It now expects 2013 net income earnings of at least $7.75 per share.
Chart forWellPoint Inc. (WLP)



Think Progress
“Combined profits for UnitedHealth Group Inc., WellPoint Inc., Aetna Inc., Cigna Corp. and Humana Inc., which cover one-third of the U.S. population, surged 13.5% to $3.4 billion in the second quarter,” they found. “If the trend holds, the five companies will take a record $14 billion in profits in 2011.”

If the healthcare industry continues to experience higher profits and increasing numbers of people  signing-up for coverage, I cannot get my brain around GOP efforts to repeal the ACA.  They factually accept money from big healthcare. In fact,  Rep. Chris Van Hollen (D-MD) has stated the repeal votes are akin to a terrible "Catch-22" for the GOP.  The GOP (Ryan Budget) includes cost analysis and projections based on existing law. The ACA is existing law!  Does the (fallacy laden) Ryan Budget fall part if the ACA is repealed?  Does the GOP care about the impact on their Budget plan if the ACA is non-existent?  I posit the GOP does not care about impact on their budget because their budget is basically "Smoke and Mirrors' (cracked mirrors) in its entirety.
“House Republicans’ budget hypocrisy knows no bounds,” Rep. Chris Van Hollen (D-MD), the Democrats’ leader on budget issues, told TPM. “This Obamacare repeal vote … exposes the mother of all budget gimmicks — the fact that the Republican claim of balancing the budget depends on the savings and revenues from Obamacare. The minute they vote to repeal the law, their budget is out of balance — they can’t have it both ways.”

Martin Bashir and Chrsi Van Hollen

Visit NBCNews.com for breaking news, world news, and news about the economy
John Boehner says, “We. Will. Repeal.” I am possibly being a bit feeble minded, but I see nothing in repeal efforts, but unadulterated politics.  The GOP in the House is clearly working to strip the nation of President Obama's key piece of legislation since taking office in 2009. The following link navigates to a Healthcare Dot Gov webpage.  Specifically, you will be navigated to an ACA Timeline.  As I click though the Timeline, even with my liberal bias, I cannot find any reason conservatives would red the items and take exception. Over the last week a few articles have induced cause to pause as I listen to the GOP.  First, healthcare cost increases have slowed moderately. The less rapid increase in cost may not be due to the ACA, but there is little that indicates the ACA may not have some influence. I am not making declarative statements that the ACA has definite impact on the slowed cost increases. Another article related to well documented reductions in the US deficit. The reports are accompanied by bewilderment from many economist who to the person caution about the future. Well, I find that intriguing.  I am not hearing as much caution from economist who have supported the Administration economic strategies and plans since early 2009. In fact, Paul Krugman was very vocal in early 2009 that the Stimulus was not enough   All the while many of those, now amazed, economist continue their 'all is a world of whoa" in the nations. Yet,  another reason to find fault in administration from the Right.   It appears to date all of the obstruction  and all the resistance has simply slowed progressive towards a better society. How can I, if I was inclined, even think to buy into thought the GOP is on the right (excuse the pun) of the "repeal the ACA" activities, waste and shame?
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Wednesday, March 13, 2013

Paul Ryan's Budget Plan is Right-wing Kool-Aid

Image CNBC

Paul Ryan is making the rounds promoting his wreck less and paradigm laden 2013 Budget Plan. It promotes a veritable rehash of his former Path to Prosperity with the newly released "A Responsible Balanced Budget".  For once we agree with Paul Ryan. 

The Budget is "responsible and balanced" if you are one of the nation's top 20% income owners and you are fortunate enough to have medical coverage, and if you are not in a position to need food sustenance based on your economic status.  

The Budget is "responsible and balanced," if you subscribe to the flawed economic austerity theories for academics.....
Paul Krugman, Nobel Prize winning economists wrote about what he calls expansionary austerity, "..... austerians seized on academic work by Alberto Alesina and Silvia Ardagna claiming that fiscal consolidation, if focused on spending cuts, would if anything lead to economic expansion."
The Budget is "responsible and balanced" if you subscribe to Ayn Rand baseless philosophies of human existence.  Philosophies espoused and made famous via her writings: 

Atlas Shrugged 
Atlas Shrugged, published in 1957, was Rand's magnum opus.[58] Rand described the theme of the novel as "the role of the mind in man's existence—and, as a corollary, the demonstration of a new moral philosophy: the morality of rational self-interest."[59] It advocates the core tenets of Rand's philosophy of Objectivism and expresses her concept of human achievement. The plot involves a dystopian United States in which the most creative industrialists, scientists and artists go on strike and retreat to a mountainous hideaway where they build an independent free economy. 
and Objectivism 
Objectivism is a philosophy created by Russian-American philosopher and novelist Ayn Rand (1905–1982). Objectivism's central tenets are that reality exists independent of consciousness, that human beings have direct contact with reality through sense perception, that one can attain objective knowledge from perception through the process of concept formation and inductive logic, that the proper moral purpose of one's life is the pursuit of one's own happiness(or rational self-interest), that the only social system consistent with this morality is full respect for individual rights embodied in laissez-faire capitalism, and that the role of art in human life is to transform humans' metaphysical ideas by selective reproduction of reality into a physical form—a work of art—that one can comprehend and to which one can respond emotionally.
Of course, Paul Ryan's claims to have repudiated his past affinity and obsession with Rand as he pursued his 'false' claim to the US Vice Presidency. False in the context of fate and the loss by he and his would be president Mitt Romney.

The Budget is "responsible and balanced" if you believe that Paul Ryan really ran that marathon in record time and if you believe he and his wife really actually soiled their hands cleaning pots at a soup kitchen. 

You just might believe the Budget is "responsible and balanced" if....
.... you believed Chrysler intended to class that Ohio Jeep Plant and ship the jobs to China,  
.... you found Mitt Romney's 47% schmoozing with Boca Raton uber wealth 'epicureans' palatable, 
.... Mitt Romney's application of 'tan face' at the Univison event did not turn your stomach, 
.... Rick Santorum's BLAH People did not give you a shiver, 
.... Mitch McConnell's proclamation of "Obama a one-term president", excited you to the core.
Ultimately, you probably are willing to accept anything Paul Ryan places on paper if you are one of the 47% of people who went to the voting booths last fall and voted for Mitt Romney and Paul Ryan.

While many subject matter experts have commented on the Ryan plan and many more will do so in the come days and weeks, we will not attempt to capture and publish various links and excerpts. Those items can be found via a standard search on any search engine.  We will embed one segment of a recent interview on The Kudlow Report, CNBC. 

Kudlow asked Ryan a question that yielded as telling a response about the Representative from Wisconsin and Republicanism as I have heard in many years.   Before the abbreviated segment that follows, let's remind of a couple of facts.  The Affordable Care Act is law.  The US Supreme Court did not reverse the ACA.  The ACA provides and will provide care to people who have no medical care options. 

Paul Ryan, "....you think we should we should just give up our principles when we put out our budget vision."

(Linked)


Do they not care that they lost an election based on items Ryan has in the Plan?  Do they not give one damn two and one half branches (Executive Branch,  SCOTUS and the US Senate) of the US government has validated the ACA?  When do they "get it" their actions are simply obtuse. 

Ryan speaks in sophism more than most.  His appears as authoritative,  learned and topically adroit, but we suspect he is not an erudite in economic theory and application of theory.   If you listen closely and carefully to the interview he speaks the 'talk', but intermixes what sounds like Ryan lies.  His words simply do not match with past actions, nor we suspect sync with future intent.  We certainly have cause to know that Paul Ryan can lie, has lied and will lie (going forward). 

The full segment. (Linked)
 

We will continue to report on the Ryan Plan, until it swirls down a toilet as wasted paper. If you want details on the Ryan Plan it is linked above in its entirety.  We suggest seeking far more perspectives on the Plan that spending hours on the flawed and very paradigms (to the top 20% in the nation). 
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Thursday, January 10, 2013

Mario Piperni Dot Com: The One Trillion Dollar Coin

Cross posted form www.mariopiperni.com (must visit for art, prose and poltical commentary) 

The One Trillion Dollar Coin

Money Trillion Dollar Coin   :    http://mariopiperni.com/
Is the platinum $1 trillion dollar coin scheme being bounced around as a ploy to counter Republicans threat to refuse to increase the debt ceiling, taking politics into the realm of the absurd? Yes, of course it is…but I’m still with Paul Krugman on this one.
Should President Obama be willing to print a trillion dollar platinum coin if Republicans try to force Americans into default? Yes, absolutely. He will, after all, be faced with a choice between two alternatives, one that is silly but benign the other that is equally silly, but both vile and disastrous. The decision should be obvious.
Republicans, of course, are crying bloody murder and one House member, Greg Walden, is proposing to introduce a bill that would outlaw the minting of coins as a means to balance the budget.
“This scheme to mint trillion dollar platinum coins is absurd and dangerous, and would be laughable if the proponents weren’t so serious about it as a solution. I’m introducing a bill to stop it in its tracks,” Walden said in a statement issued on Monday. “My bill will take the coin scheme off the table by disallowing the Treasury to mint platinum coins as a way to pay down the debt.”
The irony in Walden’s statement is astounding. Republicans feel no shame in proposing to force a default on America’s economic responsibilities by refusing to increase the debt ceiling. This is their way of blackmailing the president into passing their wishlist of economic policies. And somehow, in their twisted view of reality, this is not “absurd and dangerous”…but issuing a $1 trillion dollar platinum coin is?
Look, the $1 trillion dollar coin is dumb but you have to keep in mind that you’re dealing with a political party that has become completely unhinged and divorced from reality. There is no playing nice with Republicans. There is no sitting down with them and discussing important matters in an adult and rational manner. You can (and should, I imagine) try but don’t become flustered when you walk away completely flustered and covered in slime.
A $1 trillion dollar platinum coin? Sure, why not. If it does little more than screw with Republican’s heads, then it’s a worthwhile effort.
___
Follow MarioPiperniDotCom on FacebookTwitter and Google+.
.
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Tuesday, December 18, 2012

The Economic Policy Institute: Budget Taxes and Public Investment



While scouring around for information of issues related to the US Budget, l ran across a piece that is worth sharing. The Economic Policy Institute granted permission for sharing an Andrew Fieldhouse commentary about the US Budget and public investment.  My affinity for the piece is its focus and opining on the prospect of what Fieldhouse calls, 'full employment'.  We also have heard the words infra-structure with every presidential election since Ronald Reagan.  Maybe it is time for serious investments infra-structure and its second benefit in prospects for employment for unemployed Americans. 

As the nation faced the formidable work of warding-off a second Great Depression, Robert Reich, Paul Krugman and other noted economist have stated that infra-structure expenditures offer greater returns. Many of those same experts stated the 'shaved' Obama stimulus was not enough for more rapid growth from the jaws of the Great Recession. Obama and his team requested (proposed) $1.2 Trillion in Stimulus funds. The final stimulus funds numbers fell in the range $740 billion to $800 billion. 

Andrew Fieldhouse


Restore full employment with a massive infrastructure program


This piece originally appeared in The International Economy magazine’s symposium  One Policy Change, Please.One policy change? Restore full employment with a mass infrastructure program. 
The U.S. economy faces a huge shortfall in aggregate demand—with output running $988 billion (6.0 percent) below potential—which is holding back employment. In today’s liquidity trap, boosting demand with deficit-financed fiscal stimulus remains the most effective lever for restoring full employment. A mass surface transportation, water, and energy infrastructure investment program—exceeding $1 trillion over 5–7 years—would efficiently accelerate the return to full employment, and more opportune timing is difficult to imagine. 
Infrastructure spending is particularly cost-effective in boosting demand in a depressed economy; Moody’s Analytics estimates that $1 of infrastructure spending presently generates $1.44 in demand. Consequently, the sticker price of infrastructure investments overstates their effective cost; the cyclical deficit shrinks about 37 cents for every dollar output rises toward potential, so more than 53 percent of outlays are self-financing. This undertaking would reduce long-run economic scarring by employing a higher level of resource utilization today, but also increase the productive capital stock, laying the foundation for higher potential output. 
The American Society of Civil Engineers estimates that $2.2 trillion of investment is needed over five years just to raise our infrastructure from “poor” condition to “good.” Only half of this investment is expected to be met. State budgets are in no position to pick up this slack. The federal cost of financing investments is also near record lows: Treasury’s 10-year borrowing cost is under 1.7 percent and in the negatives for real interest rates (that is, TIPS). Further deferring maintenance increases net-present-value costs to taxpayers, because upkeep and rehabilitation is cheaper than replacing defunct infrastructure. 
Federal infrastructure investment should muster bipartisan support; it traditionally has and it’s supported by business groups and organized labor alike. Increasing investments in the midst of a jobs crisis and during a period of near-record low financing costs is a no-brainer.

Of course, we realize the nation has spending considerations.  I posit spending as delineated by Fieldhouse are much more effective  investments in our future than the billions we currently spend on national defense, oil industry subsidies and various other non-sense federal expenditures.  


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Monday, September 10, 2012

Cross posted from The Obamacrat Dot Com 


An Insider’s Look Inside The RepubliCANT Party


By Jueseppi B.




I am fresh back home from a small trip overseas last week and a stunningly exciting trip down town to see POTUS Obama, his wife, the Vice President and HIS wife as they all made a campaign stop in Cedar Rapids yesterday.

I was sent this piece by a twitter family member, this was written by Joy Reid of The Reid Report who I assume re-posted it from the original author, Mr. Mike Lofgren, whom I don’t know. Read this and then do some thinking…..especially if you are a TeaTardedRepubliCANT.

If you read nothing else today, read this: notes from GOPer who fled the ‘cult’

AUGUST 18, 2012

Stop me if you’ve read this before… I don’t know how I missed it when it was originally published, in September of last year (though maybe it was because it was scarcely mentioned in the media. I find almost no commentary about it online.) I’m not entirely surprised that the author, Mike Lofgren, wasn’t booked all over TV to talk about his 28 years as a staffer on the Republican House and Senate budget and other committees, often dealing with national security and defense issues, according to those D.C. journos who are very familiar with him. Lofgren’s critique of his own party, the Democrats and the media itself, is as thorough as it is devastating.

In short, Lofgren says the modern, post-Eisenhower GOP has morphed into a cult, led by plutocrats and their elected, media and faux intellectual minions, who have crafted an elaborate, continual ruse to serve the rich at all costs – even the cost of the country itself. And he explains how that cult recruited, and retains lower income, low information white Americans, and why they are pushing headlong to stop non-white/Christian/straight Americans from voting at all. (Hint: its partly Democrats’ fault for letting them do it unassailed.)
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Monday, August 20, 2012

Newsweek! No You Didn't!

After a few editions of Newsweek focused on the shortcomings of, and problems endemic in the Romney campaign, It appears 'equal-time' was deemed necessary by Newsweek editorial management.

How about this weeks magazine cover?



It is worthwhile to note the author of the "Hit the Road , Barack", starts his less the credible piece as follows.




Niall Ferguson: Obama’s Gotta Go


Why does Paul Ryan scare the president so much? Because Obama has broken his promises, and it’s clear that the GOP ticket’s path to prosperity is our only hope.
I was a good loser four years ago. “In the grand scheme of history,” I wrote the day after Barack Obama’s election as president, “four decades is not an especially long time. Yet in that brief period America has gone from the assassination of Martin Luther King Jr. to the apotheosis of Barack Obama. You would not be human if you failed to acknowledge this as a cause for great rejoicing.” 
Despite having been—full disclosure—an adviser to John McCain, I acknowledged his opponent’s remarkable qualities: his soaring oratory, his cool, hard-to-ruffle temperament, and his near faultless campaign organization. 
Yet the question confronting the country nearly four years later is not who was the better candidate four years ago. It is whether the winner has delivered on his promises. And the sad truth is that he has not.


The author's opening words tell all about his ability to perceive any level of positive or negative thought about President Obama. 
"I was a good loser four years ago." 
The then embarks of a brief,  but sadly ingratiating rationalization of race regarding the assassination of Martin Luther King and the election of the nation's first African-American President. He starts his piece with  his 'colors' (excuse the pun) showing and those colors reveal possible inner  psyche and paradigm that relegates the election of Barack Obama to that of Illinois Joe Walsh and Rush Limbaugh.  "He was elected due to his race".  Neither demagogue (including Ferguson) acknowledge the severe shortcomings of the McCain/Plain ticket, nor do they properly reflect on the mindset of the nation as we came out of 8 years of Bush/Cheney "GOPISM".

Ferguson quickly moves from his implied condescending (the election of the "black man") to a rather pernicious attack on the 44th President of the United States of America. He writes about failed promises from candidate Obama in a strange sort of soliloquy that frankly tires as one considers the reality of America post January 20, 2009. 


We have embedded a short Face the Nation video, what appears as a Tweet, and a link to Ferguson's article. 


Face the Nation segment this past Sunday.


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Friday, June 1, 2012

Remember this proposal?

The May Employment numbers have been published; the are without argument disappointing.  Alas, for you and me and millions of Americans he numbers are terrible. The economy is slowing and teetering on a dip back into recession. How horrible for you and me? How horrible for the millions who are anxious for clear signs the employment picture will improve to the level of unemployment at  6 to 7 per cent?

Oh you idealistic Americans!

Idealism is innate in the American character.  Idealism for modern American takes a back set to politics and the shaping and spread of social agenda.  We idealist are watching another part of the nation who are absolutely ecstatic about the May job numbers: conservative America and their political party:  the GOP.  A party that has become nothing more than an operative instrument of Far-Right dogma and slow movement towards an American plutocracy.  There declared purpose back to 2009 was uninhibited and unabashed obstructionism.  Obstructionism that not only harms the Administration, it lays a death knell at the feet of America's Middle class and lower income citizens.

I often get push back from conservatives who seem astounded when I pose the augment, "the GOP loves higher unemployment numbers". Their chagrin is a mask of their own glee at employment numbers that are struggling to hit numbers that approximate the unemployment rate when President Obama took office. Higher numbers of people in the undesirable state of  unemployed for the first time in US History provides a degree of satisfaction to a large number of US citizens.  How crass and how shameful? 

In support of my posit, is the president's jobs bill. President Obama mentioned the American Jobs Act  (video 32 minutes) nine months ago at his address to the Congress. 

American Jobs Act

"Without a doubt, the most urgent challenge that we face right now is getting our economy to grow faster and to create more jobs…. we can’t wait for an increasingly dysfunctional Congress to do its job. Where they won’t act, I will."   — President Barack Obama, October 24, 2011

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