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Tuesday, October 9, 2012

Obamacare kicks in even more in 2013 so major businesses are preparing now

The U.S. Labor Department reported the economy added 114,000 jobs in September and the unemployment rate fell to 7.8 percent, its lowest level since early 2009.

Republican presidential nominee Mitt Romney released a statement saying: "This is not what a real recovery looks like. We created fewer jobs in September than in August, and fewer jobs in August than in July, and we've lost over 600,000 manufacturing jobs since President Obama took office."

There was skepticism about the Labor Department report.

Doug Holtz-Eakin, a former director of the Congressional Budget Office (2003-05) and an adviser to the 2008 presidential campaign of U.S. Sen. John McCain, R-Ariz., told Fox News: "This must be an anomaly. It is out of line with any of the other data ..."

U.S. Rep. Allen West, R-Fla., was emphatic, telling CBNC he is "absolutely" convinced the Obama administration is manipulating the data.

"I'm very questionable of what we do see coming out of this administration because the numbers don't add up," West said. "Something is inconsistent here and that is what I'm questioning."

Romney and his allies have said that, until the report that came out Friday, the unemployment rate remained at more than 8 percent for more than 40 months, and blamed the administration.

The Labor Department report said 12.1 million people were unemployed, a drop of 456,000 from the previous month.

That figure is critical because 342,000 more people dropped out of the workforce than gained employment in September. The September rate fell to 7.8 percent in part because it reflected an increase in the number of jobs initially reported in July and August.

Although the number is officially described as representing people who elected to care for a relative at home or return to school, many did so because they were simply too discouraged to continue looking for work.

Chris Williamson, chief economist at research firm Markit Economics, said, "The average payroll gain of 146,000 seen over the past three months is surprisingly strong given other economic data for the quarter, such as factory orders and the Institute of Supply Management and Purchasing Management Index surveys, which have pointed to a growth slowdown."

University of Maryland economics Professor Peter Morici called the September job gains "uninspiring" and said, "In the weakest recovery since the Great Depression, the nearly entire reduction in unemployment from its 10 percent peak ... has been ... through a significant drop in the percentage of adults participating in the labor force."


News max Restaurant Chain Cuts Hours to Avoid Obamacare Costs

A major restaurant group, Darden Restaurants, which owns the Red Lobster, Olive Garden, LongHorn Steakhouse, and Yard House chains, is experimenting with cutting its employees hours in the hopes of cutting the costs of healthcare.

Darden Restaurants, which owns the Red Lobster, Olive Garden, LongHorn Steakhouse, and Yard House chains has stopped offering full-time schedules to hourly workers, the Orlando Sentinel reports. The company plans to offer a maximum of 28 hours per week per employee.

The test is being conducted in what the company calls "a select number" of restaurants in four markets but would not give details.

The Orlando-based group told the Sentinel the changes were "just one of the many things we are evaluating to help us address the cost implications healthcare reform will have on our business," adding, "There are still many unanswered questions regarding the healthcare regulations and we simply don't have enough information to make any decisions at this time."

Under a section of President Barack Obama's Affordable Healthcare Act due to go into effect in 2014, large employers face fines of up to $3,000 per employee if they fail to provide insurance for employees who work an average of 30 or more hours per week.

Darden said it offers health insurance to its 185,000 employees nationwide but many are on a limited-benefit plan which will be phased out under Obamacare.

(Let me translate the above for you, its ALL BS! Obamacare kicks in even more in 2013 so major businesses are preparing now.

This is what is happening now because of "obamacare". People will work LESS hours, lose their group health care insurance or their jobs because businesses will cut hours to under 30 to avoid the obamacare mandate.

Thanks to obama himself people will work and earn less in the future. Obama is destroying the US economy on purpose. The end result will be a collapse of the dollar resulting in martial law. Then obama or whoever is in power will be able to try to confiscate your weapons so the police state will be in total control.

Can you see the plan now?)
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