Category Archives: ObamaCare

NC Senator Richard Burr VA VHA update May 23, 2014, S 2362 prohibits bonuses through 2015, Inspector General report VHA accurately processed only 69% of Quick Start claims

NC Senator Richard Burr VA VHA update May 23, 2014, S 2362 prohibits bonuses through 2015, Inspector General report VHA accurately processed only 69% of Quick Start claims

“Veterans are tired of waiting for the next report, the next investigation, the next media “Breaking News Alert.” VA is broken, Mr. President.  Veterans don’t want the appearance of leadership on this issue.  They want action.”…NC Senator Richard Burr, May 23, 2014

“If ever a time should come, when vain and aspiring men shall possess the highest seats in Government, our country will stand in need of its experienced patriots to prevent its ruin”…Samuel Adams, 1776

“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″

 

 

From NC Senator Richard Burr May 23, 2014.

“This week, I continued to work along with some of my colleagues on addressing the serious problems facing the VA and the Veterans Health Administration. On Tuesday, Senator Deb Fischer (R-Neb.) and I introduced S. 2362, legislation that would prohibit the payment of bonuses to employees at the Veterans Health Administration (VHA) through Fiscal Year 2015.

It is appalling and totally unacceptable that the VHA, which is being scrutinized by Congress and the media for a string of national scandals, is giving out bonuses. It is totally inconceivable that the Veterans Health Administration can justify rewarding themselves while they fail our veterans. It is my hope that the Senate will swiftly adopt this legislation so that such gross misconduct is no longer rewarded at taxpayer expense. To read the full statement on S. 2362, click here.

Also on Tuesday, the Office of Inspector General (IG) released a report on the Veterans Benefits Administration (VBA) Quick Start Program. The Quick Start program was designed to help service members smoothly transition to civilian life by beginning the disability claims process for veterans prior to their separating from the Armed Forces. However, this new IG report shows that numerous factors — such as ineffective use of resources, inadequate training, and insufficient program controls — led to problems with the timeliness and quality of VA’s decisions on these claims. The IG found that the VBA accurately processed only 69% of Quick Start claims during 2013.  That is 29% lower than VA’s 98% goal and well below VA’s reported quality measures.  In light of last week’s hearing regarding the accuracy and trustworthiness of Veterans Health Administration’s wait time data, I question the Administration’s claim that the VA disability claims backlog is improving. The findings in this report are symptomatic of the ongoing, pervasive problems at the VA. Congress must conduct aggressive oversight to make sure that the VA is treating our veterans with the respect that they deserve. To read IG’s full report, click here.

On the topic of oversight, this week minority members of the Senate VA Committee and myself signed a letter calling on Chairman Sanders of the Senate Committee on Veterans’ Affairs to hold several oversight hearings on numerous topics including, but not limited to, the Veterans Health Administration, the quality of VA healthcare, and the integrity of the VA’s data and performance metrics. It is obvious from the ongoing VA scandals and the report above that the Department desperately needs vigorous oversight. It is our mission as a committee to provide oversight; yet the Chairman has chosen to ignore reasonable requests for hearings. My fellow minority members and I hope that this letter will be heard and oversight hearings will be scheduled immediately. To read the full text of the letter sent to Chairman Sanders, click here.

This week, President Obama held a press conference addressing the issues within the Veterans Administration. I listened with great interest to the President’s remarks on the unfolding VA scandals. Quite frankly, I am shocked that the President feels he needs to wait for the results of yet another investigation before he takes action. As we discussed in our committee hearing with the Secretary last week, there are at least four years’ worth of reports from the Inspector General, the Government Accountability Office, the Office of Special Counsel, and Office of the Medical Investigator highlighting the problems within the Veterans Health Administration.  Yet, we still can’t connect the dots without a report on Phoenix?  Veterans are tired of waiting for the next report, the next investigation, the next media “Breaking News Alert.” VA is broken, Mr. President.  Veterans don’t want the appearance of leadership on this issue.  They want action. To watch the President’s full press conference, click here. For the transcript of this video, click here.

On Wednesday, I introduced legislation to correct a mistake by the Census Bureau and the Office of Management of Budget (OMB) that is hurting eastern North Carolina. A year ago, OMB issued new rules that arbitrarily separated Brunswick County from the Wilmington metropolitan area. This separation has not only led to an understatement of the size of North Carolina’s economy, but hurt economic development in the area. Everybody in North Carolina knows that Brunswick County is part of the greater Wilmington area. Instead of mindlessly applying bureaucratic rules, the Administration needs to address what reality looks like for people in North Carolina. If passed, this legislation would settle the issue by requiring the Director of the Office of Management and Budget to consider Brunswick County to be part of the same metropolitan statistical area as Wilmington, North Carolina– just like it always has been. To read the bill text, click here.

Be sure to keep an eye out for a special edition of my weekly newsletter, and spend time this weekend reflecting on the real meaning of Memorial Day. As we gather with our families, give thanks and honor to those who gave their lives for our freedom. I wish you all a happy and safe Memorial Day weekend.

        Sincerely,

Richard Burr”

High Point regional hospital cuts 115 jobs, 1900 hospital jobs eliminated in the Triad in past 3 years, Obamacare aka Affordable Care Act impact

High Point regional hospital cuts 115 jobs, 1900 hospital jobs eliminated in the Triad in past 3 years, Obamacare aka Affordable Care Act impact

“About two-thirds of the hospitals serving Medicare patients, or some 2,200 facilities, will be hit with penalties averaging around $125,000 per facility this coming year, according to government estimates.”…NE News Now

 

“Nearly half of U.S. companies are reluctant to hire full-time employees because of the ACA. One in five firms indicates they are likely to hire fewer employees, and another one in 10 may lay off current employees in response to the law.

Other firms will shift toward part-time workers. More than 40 percent of CFOs say their companies will consider switching some jobs to less than 30 hours per week or targeting part-time workers for future employment.”…Duke University Fuqua School of Business December 11, 2013

“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″

 

From the Winston Salem Journal May 22, 2014.

“High Point Regional joins other hospitals in making job cuts”

“High Point Regional Health became on Thursday the latest Triad hospital to make job cuts related to lower federal reimbursement levels and declining revenue from performing fewer inpatient services.

The hospital said it was eliminating 115 clinical and nonclinical job positions – about 5 percent of its workforce of nearly 2,000.

Counting the High Point Regional job cuts, there has been nearly 1,900 hospital jobs eliminated in the Triad in the past three years.”

“In November 2012, Wake Forest Baptist announced the elimination of 950 positions: 420 were current employees and 530 were closed, unfilled positions, or employees who left through attrition or retirement.

Other Triad health care systems that have eliminated jobs since 2011 include: Cone Health (at least 300), Novant Health Inc. (at least 289, including 150 in the Triad) and Randolph Hospital in Asheboro (66).

Morehead Memorial Hospital in Eden said May 12 it is reducing its staff by 22 positions and cutting the hours of 25 other employees.
Hugh Chatham Hospital in Elkin eliminated 31 jobs in

Also in October, Northern Hospital of Surry County said it eliminated between 12 and 15 full-time jobs. Another 15 to 18 employees had their work weeks reduced to 35 to 36 hours, while another group of employees was shifted into a different job.”

Read more:

http://www.journalnow.com/business/business_news/local/high-point-regional-joins-other-hospitals-in-making-job-cuts/article_eb6c57e8-c4a8-5167-b00b-17cf2937dd4a.html

 

Obama economy devastates young and housing markets, Under 35 home ownership plummets from 43.6 percent to 36.2, Unemployment rate 9.1 to 15.5 percent for 18 to 29 year olds, Student loan debt

Obama economy devastates young and housing markets, Under 35 home ownership plummets from 43.6 percent to 36.2, Unemployment rate 9.1 to 15.5 percent for 18 to 29 year olds, Student loan debt

“11.4%: What the U.S. unemployment rate would be if labor force participation were back to January 2008 levels.” …James Pethokoukis, American Enterprise Institute, June 2013

“Over the last six months, of the net job creation, 97 percent of that is part-time work,”…Keith Hall, former BLS chief

“Nearly half of U.S. companies are reluctant to hire full-time employees because of the ACA. One in five firms indicates they are likely to hire fewer employees, and another one in 10 may lay off current employees in response to the law.

Other firms will shift toward part-time workers. More than 40 percent of CFOs say their companies will consider switching some jobs to less than 30 hours per week or targeting part-time workers for future employment.”…Duke University Fuqua School of Business December 11, 2013

 

 

 

Citizen Wells recently presented the impact on blacks of the Obama economy.

Another demographic that supported Obama, young people, has also been devastated by the Obama economy and the subsequent impact on the housing market has affected everyone.

From Market Watch May 13, 2014.

“There was an 8% drop in existing home sales in Greensboro-High Point, N.C., after a 2% rise in the fourth quarter, RealtyTrac found. “There’s still a lot of uncertainty about the economy,” says Tommy Camp, president and CEO of Berkshire Hathaway HomeServices Yost & Little Realty. “Some buyers say, ‘We’ve got a job, but we don’t know how secure that is.’” A slowdown in household formation has also had a negative impact on the housing market, he says; 18- to 34-year-olds account for more than half of missing households — that is, Americans who would be owning or renting a home now if prerecession economic trends had continued.”

Read more:

http://www.marketwatch.com/story/7-places-where-property-prices-are-falling-2014-05-13?dist=beforebell

From Market Watch May 12, 2014.

“For now, the absence of young adults from the housing market continues to put a dent in the homeownership rate, which dropped to 64.8% in the first quarter, compared with 65.2% in the fourth quarter of 2013, according to U.S. Census statistics. The rate was as high as 69.2% in the fourth quarter of 2004. For those younger than 35, the rate has fallen noticeably faster. It slipped to 36.2% in the first quarter, from 36.8% in the fourth. The homeownership rate for this group was as high as 43.6% in the second quarter of 2004.

“The [25 to 35] age cohort…probably has had the hardest time recovering from the Great Recession,” said Rick Sharga, executive vice president of Auction.com, an online real estate marketplace. “For the time being, we’re likely to see a higher percentage of households formed being rental households,” and overall homeownership rates are likely to continue to drop somewhat—perhaps even down to 62%—before bottoming out and climbing back up, he added.

While some industry watchers have suggested a shift in attitudes away from Homeownership, Sharga and others say it’s too soon to know whether people truly have a waning interest in owning homes. But one thing’s for sure: Young people have plenty of hurdles to becoming homeowners.”
“The unemployment rate for 18-to-29-year-olds was 9.1% in April, which rises to 15.5% if you include those who have given up looking for work, according to Generation Opportunity, a national, nonpartisan youth advocacy organization. The unemployment rate was 6.3% in April for all ages.

Forget that without a job it’s just about impossible to get a mortgage. (It’s also hard to rent: Twenty-nine percent of adults younger than 35 live with their parents, according to Gallup poll results released earlier this year.) A slow start to earnings also means a slow start to saving.

“The majority of younger renters report having insufficient assets to cover a 5% down payment plus closing costs on a typical starter home,” Shahdad wrote.”

“In 2012, 1.3 million students who graduated from four-year colleges (or 71%) had student loan debt, up from 1.1 million in 2008 and 900,000 in 2004, according to the Institute for College Access & Success, a nonprofit independent research and policy organization. Graduating seniors with student loans had average debt levels of $29,400 in 2012, up 25% from $23,450 in 2008.

And new mortgage regulations, set into motion by the Dodd-Frank Act, require that borrowers have no more than a 43% debt-to-income ratio (with debt encompassing monthly housing costs and debt payments, including those on student loans). That ceiling may also restrict first-time buyers, some say.”

Read more:

http://www.marketwatch.com/story/why-millennials-are-hurting-the-real-estate-recovery-2014-05-12

 

 

Obamacare triggers millions of healthcare policy cancellations, Rep Cory Gardner questioned insurance company executives, Businesses facing increased healthcare costs will drop employee coverage

Obamacare triggers millions of healthcare policy cancellations, Rep Cory Gardner questioned insurance company executives, Businesses facing increased healthcare costs will drop employee coverage

“Your employer’s known about it for the longest time, just like everybody else has.  We had a call. The guy couldn’t go on the air. He was afraid to go on the air. He was afraid he would be recognized.  He told Snerdley his name. He’s a health care consultant. What did he say, 15 companies that he’s consulting?  (interruption)  Yeah.  (interruption)  Oh, okay. He’s a health care consultant.

In other words, he advises companies on how to best do health care, the most affordable pricing with the least expense involved and so forth.  He said that so far he’s consulting 15 different companies/corporations who are gonna offload all their employees.  He’s also advising them on the 30-hour workweek and what that will mean for them (i.e., part-timers don’t have to get covered at all). “…Rush Limbaugh May 8, 2014

“Nearly half of U.S. companies are reluctant to hire full-time employees because of the ACA. One in five firms indicates they are likely to hire fewer employees, and another one in 10 may lay off current employees in response to the law.

Other firms will shift toward part-time workers. More than 40 percent of CFOs say their companies will consider switching some jobs to less than 30 hours per week or targeting part-time workers for future employment.”…Duke University Fuqua School of Business December 11, 2013

“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″

 

 

From WND May 7, 2014.

“Insurance execs: Millions of health plans to be canceled”

“Millions of American families still must face the catastrophic loss of their health insurance policies because of Obamacare, members of Congress learned at a hearing with insurance company executives this week.

They will join the millions of families who lost their policies over the last six months, also because of Obamacare, the company executives confirmed.

It was at a hearing of the Energy & Commerce Committee that Rep. Cory Gardner, R-Colo., grilled a half-dozen insurance company executives appearing before the committee on who was responsible for the previous round of policy cancellations, and who should face blame for the next round.

A statement on Gardner’s website said, “The witnesses confirmed that these [previous] cancellation notices were sent out due to the president’s healthcare law. It was also disclosed that millions more Americans will see their plans canceled when the president’s healthcare law is fully enforced.”

The conflict arose over Barack Obama’s publicly and repeatedly stated promise: “If you like your health-care plan, you can keep it.”

But estimates are that about six million policies were canceled as the new law started applying its requirements and consumers’ old policies no longer were “compliant” with Obamacare, that is, they didn’t include some demand of the new law, such as coverage for abortifacients.

The policies were canceled, and consumers were told they were required to find new insurance.”
“When Gardner asked the insurance executives the reason for the previous and coming cancellations – he asked whether it “was because of Obamacare or because of you” – they said without hesitation it was because of the requirements of Obamacare.

“The law required us to send those cancellations,” one executive said.

Asked specifically about Obama’s promise that consumers could keep their plans if they liked them,” an executive said, “That was not true for 100 percent of our customers.””

Read more:

http://www.wnd.com/2014/05/insurance-execs-millions-of-health-plans-to-be-canceled/

From Rush Limbaugh May 8, 2014.

“Media Knew the Truth About Obamacare”

“RUSH:  Yeah. Well, wait ’til you get to the non-retired employees.  They’re gonna get hit with this, too.  That’s what’s kind of disingenuous. Look, I don’t want to get the Kaiser people mad at me.  There’s nothing to be gained by that. But, for crying out loud, here! They’ve known about this.

They’ve got this big news story from yesterday warning people (scoffs) that this is going to happen, and they’re saying that there may be something they can do to help this situation. But, I mean, for crying out loud! Everybody who supported Obamacare has got to accept a share of responsibility for this.

Everybody who supported this, everybody who knew what was in it and didn’t tell anybody this was in it, is responsible.  Two years ago! Go back to RushLimbaugh.com. You can read transcripts of it being discussed on this program.  Again, I want to make the point: It was supposed to have been implemented in January of this year, 2014.

Right now, all these cancellations you’ve heard about? Those are just the self-insured.  Those are not people that get their health insurance at work.  You’ve heard enough horror stories from those people, what the replacement costs are, what the premiums and the deductibles are — doubled and tripled — and what’s happening to the copays.

All along we reminded people, “Wait, those of you who are covered at work? This doesn’t affect you yet.  Your time is coming.”  It was supposed to have arrived with January.  But the Regime delayed it.  Can you imagine, just in this guy’s example, if hundreds of thousands of people in January had been off-loaded to HealthCare.gov with the mess that was?

Can you imagine? We wouldn’t just be talking about a wave Republican victory; we would be talking about the funeral of the Democrat Party, and the Regime knew this.  That’s why this has been delayed until after the election, and there are couple of other elements of Obamacare that have moved back beyond 2016 and the presidential race.

AT&T, all along, has been saying that Obamacare was gonna cost them over $1 billion a year, and this is how they are going to get out of that, in part.  So the Kaiser report here is a warning story.  “Ah, ah! Heads up! Warning! Guess what?  Your employer is even now thinking about doing this.”  Well, of course your employer is! “

Read more:

http://www.rushlimbaugh.com/daily/2014/05/08/media_knew_the_truth_about_obamacare

 

 

 

April unemployment rate, US Labor Dept., May 2, 2014, Labor force participation plummets and jobless rates still high, Part time jobs, Financial markets react to false data

April unemployment rate, US Labor Dept., May 2, 2014, Labor force participation plummets and jobless rates still high, Part time jobs, Financial markets react to false data

“11.4%: What the U.S. unemployment rate would be if labor force participation were back to January 2008 levels.” …James Pethokoukis, American Enterprise Institute, June 2013

“Over the last six months, of the net job creation, 97 percent of that is part-time work,”…Keith Hall, former BLS chief

“According to shocking new numbers that were just released by the Bureau of Labor Statistics, 20 percent of American families do not have a single person that is working. So when someone tries to tell you that the unemployment rate in the United States is about 7 percent, you should just laugh. One-fifth of the families in the entire country do not have a single member with a job. That is absolutely astonishing. How can a family survive if nobody is making any money? Well, the answer to that question is actually quite easy. There is a reason why government dependence has reached epidemic levels in the United States. Without enough jobs, tens of millions of additional Americans have been forced to reach out to the government for help. At this point, if you can believe it, the number of Americans getting money or benefits from the federal government each month exceeds the number of full-time workers in the private sector by more than 60 million.”…Zero Hedge April 29, 2014

 

 

***  Update 9:00 AM  ***

Here we go again folks. SOS, just another day.

The unemployment rate dropped .4 percent to 6.3 as did the labor force participation rate drop .4 percent to 62.8 percent.

The labor force dropped by 806,000.

***  Update 9:15AM  ***

The BLS is showing a seasonally adjusted drop in labor force of 988,000.

***

The US Labor Dept. will report on the April unemployment rate this morning.

Those of us paying attention, with at least minimal math skills, understand that the stated unemployment rate has become a joke.

Yet, for years, the financial markets and market reporters have taken the drop in the unemployment rate as good news.

Nothing could be further from the truth.

To sum up the reality of the situation, record numbers have dropped out of the labor force, not because they intended to retire, but because jobs were not available, and many who did get or retain jobs found themselves working one or more part time jobs.

More part time instead of full time jobs is a direct consequence of Obamacare and the Obama economy.

When you read the US Labor Dept report and see the latest unemployment rate, consider the following facts.

Remember, the Democrats took control of both houses of Congress in January 2007. This is rarely reported.
………………………..January 2007……January 2009…….March 2014
Not in labor force………..77,506,000……..80,529,000………91,030,000
Could only find part time….. 1,186,000……..1,671,000……….2,697,000
Participation Rate………………66.4………….65.7……………63.2
Unemployment Rate………………..4.6…………..7.8…………….6.7

 

See any problems there?

Remember also that part time jobs are counted the same as full time.

There are 10,501,000 more people not in the labor force now than when Obama took office in January 2009.

The stated unemployment rate has dropped 1.1 percent.

The labor force participation rate has dropped 2.5 percent.

There are 1,026,000 more people who could only find part time work now than when Obama took office.

We just discovered that 20 percent of American families have no one employed.

No wonder that we have record food stamp usage.

Obamacare impact on Americans and economy, Higher premiums and deductibles, Medicare payments redirected, Employer costs passed on, Part time jobs instead of full time

Obamacare impact on Americans and economy, Higher premiums and deductibles, Medicare payments redirected, Employer costs passed on, Part time jobs instead of full time

“About two-thirds of the hospitals serving Medicare patients, or some 2,200 facilities, will be hit with penalties averaging around $125,000 per facility this coming year, according to government estimates.”…NE News Now

“Nearly half of U.S. companies are reluctant to hire full-time employees because of the ACA. One in five firms indicates they are likely to hire fewer employees, and another one in 10 may lay off current employees in response to the law.

Other firms will shift toward part-time workers. More than 40 percent of CFOs say their companies will consider switching some jobs to less than 30 hours per week or targeting part-time workers for future employment.”…Duke University Fuqua School of Business December 11, 2013

“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″

 

 

The media has done a stellar job of focusing on signups for Obamacare and how this has improved. What they have, obviously intentionally, not done is focus on the worsening impact of Obamacare on all Americans and the economy.

Citizen Wells has revealed the impact of premium and deductible increases and the job losses and part time jobs trends.

We have also explained the impact of cost increases and taxes on companies. These costs are often passed on to consumers.

The impact of Obamacare is much more far reaching.

From The Foundry April 11, 2014.

“Talking about Obamacare’s effects is one thing; seeing hard data is another.

Heritage’s newly updated Obamacare in Pictures has 15 charts that show the law’s effects on Americans—from canceled insurance policies to new taxes, Medicare cuts, reduced choice for plans, and more.

Here’s a quick look at just three of these charts and how Obamacare is hitting three groups.

YOUNG PEOPLE

Obamacare in Pictures 2014: Premiums Age 27

Obamacare says you can stay on your parents’ health insurance until you turn 26. This chart looks at what happens after that—if you don’t have employer-sponsored insurance and you have to get insured through Obamacare. If you’re trying to save for a car or house—or just paying rent to have your own place—seeing your premiums double is quite a blow.

SENIORS

Obamacare in Pictures 2014: Medicare cuts

You may recall Heritage experts’ warning that Obamacare would cut $716 billion from Medicare. That’s still happening.

Despite the Obama administration’s recent walking back of Medicare Advantage cuts for this year, Obamacare’s planned cuts to Medicare are moving forward. This chart shows which parts of Medicare are affected.”

Read more:

http://blog.heritage.org/2014/04/11/obamacare-charts-obama-doesnt-want-see/?utm_source=facebook&utm_medium=social

Obamacare will require employers to make changes to their health care plans

Created on April 9, 2014

Obamacare will require employers to make changes to their health care plans

 

Thanks to commenter bob strauss.

Obama Yellen Perez Big Brother, Distortions and lies aboout economy and jobs, Orwellian employment spin, Jobs added jobs lost, Labor force plummets, Obamacare and Obama economy cause part time jobs

Obama Yellen Perez Big Brother, Distortions and lies aboout economy and jobs, Orwellian employment spin, Jobs added jobs lost, Labor force plummets, Obamacare and Obama economy cause part time jobs

“Over the last six months, of the net job creation, 97 percent of that is part-time work,”…Keith Hall, former BLS chief

“Nearly half of U.S. companies are reluctant to hire full-time employees because of the ACA. One in five firms indicates they are likely to hire fewer employees, and another one in 10 may lay off current employees in response to the law.

Other firms will shift toward part-time workers. More than 40 percent of CFOs say their companies will consider switching some jobs to less than 30 hours per week or targeting part-time workers for future employment.”…Duke University Fuqua School of Business December 11, 2013

“The Times of the nineteenth of December had published the official forecasts of the output of various classes of consumption goods in the fourth quarter of 1983, which was also the sixth quarter of the Ninth Three-Year Plan. Today’s issue contained a statement of the actual output, from which it appeared that the forecasts were in every instance grossly wrong. Winston’s job was to rectify the original figures by making them agree with the later ones. As for the third message, it referred to a very simple error which could be set right in a couple of minutes. As short a time ago as February, the Ministry of Plenty had issued a promise (a ‘categorical pledge’ were the official words) that there would be no reduction of the chocolate ration during 1984. Actually, as Winston was aware, the chocolate ration was to be reduced from thirty grammes to twenty at the end of the present week. All that was needed was to substitute for the original promise a warning that it would probably be necessary to reduce the ration at some time in April.”…George Orwell, “1984”

 

 
Of course jobs have been added over the past 5 years. Jobs have also been lost. The big story is the record drop in the labor force participation rate and the increase in part time jobs due to Obamacare and the Obama economy.

Obama, Janet Yellen and Labor Secretary Perez have used the best Orwellian linguistics to portray a dismal jobs situation as rosy.

Janet Yellen gave a speech yesterday.

Yellen talks out of both sides of her mouth.

From the transcript.

“Nearly five years into the expansion that began after the financial crisis and the Great Recession, the recovery has come a long way. More than 8 million jobs have been added to nonfarm payrolls since 2009, almost the same number lost as a result of the recession.”

“It is a sign of how far the economy has come that a return to full employment is, for the first time since the crisis, in the medium-term outlooks of many forecasters. It is a reminder of how far we have to go, however, that this long-awaited outcome is projected to be more than two years away.”

“The continued improvement in labor market conditions has been important in this judgment. The unemployment rate, at 6.7 percent, has fallen three-tenths of 1 percentage point since late last year. Broader measures of unemployment that include workers marginally attached to the labor force and those working part time for economic reasons have fallen a bit more than the headline unemployment rate, and labor force participation, which had been falling, has ticked up this year.”

“In sum, the central tendency of FOMC participant projections for the unemployment rate at the end of 2016 is 5.2 to 5.6 percent, and for inflation the central tendency is 1.7 to 2 percent. If this forecast was to become reality, the economy would be approaching what my colleagues and I view as maximum employment and price stability for the first time in nearly a decade. I find this baseline outlook quite plausible.”

“Other data suggest that there may be more slack in labor markets than indicated by the unemployment rate. For example, the share of the workforce that is working part time but would prefer to work full time remains quite high by historical standards. Similarly, while the share of workers in the labor force who are unemployed and have been looking for work for more than six months has fallen from its peak in 2010, it remains as high as any time prior to the Great Recession. There is ongoing debate about why long-term unemployment remains so high and the degree to which it might decline in a more robust economy. As I argued more fully in a recent speech, I believe that long-term unemployment might fall appreciably if economic conditions were stronger.

The low level of labor force participation may also signal additional slack that is not reflected in the headline unemployment rate. Participation would be expected to fall because of the aging of the population, but the decline steepened in the recovery. Although economists differ over what share of those currently outside the labor market might join or rejoin the labor force in a stronger economy, my own view is that some portion of the decline in participation likely represents labor market slack.”

http://www.marketwatch.com/story/text-of-janet-yellens-speech-2014-04-16?link=MW_latest_news

How about this gem.

“I believe that long-term unemployment might fall appreciably if economic conditions were stronger.”

Ya think?
Classic Obama lies from a speech yesterday in Oakdale, Pennsylvania.

“Now, we’ve spent the past five and a half years fighting back from the worst economic crisis in our lifetimes. The good news is our economy is growing again, our businesses are creating jobs. We’ve created nearly 9 million jobs over the past four years. We’ve cut our deficits by more than half. Our manufacturing sector that used to be losing jobs, just hemorrhaging jobs, is now adding jobs for the first time since the 1990s. (Applause.) The first time since the 1990s. High school dropout rates are going down. College attendance rates and graduation rates are going up. Our troops are coming home. (Applause.) We’re seeing an energy boom all across the country. And more than 7.5 million people have been able to sign up for health care, many for the very first time, through the Affordable Care Act. (Applause.) And 7.5 million people, by the way, is about the number that it would take to fill up Heinz Field 115 times.”

http://www.whitehouse.gov/the-press-office/2014/04/16/remarks-president-and-vice-president-skills-training

From Citizen Wells April 7, 2014.

 

“The US Labor Dept. reported the March employment data on Friday April 4, 2014.

US Secretary of Labor Thomas E. Perez issued the following statement:

“Today’s report tells the story of a solid and steady economic recovery delivering more opportunity for more people. We saw 192,000 new jobs in the month of March, and the private sector has now created 8.9 million jobs over the last 49 consecutive months of employment growth. The unemployment rate held steady at 6.7 percent and is down from 7.5 percent a year ago.
“There is encouraging news across sectors. Health-care employment increased by 19,000 jobs. The average work week in manufacturing rebounded to 42.0 hours, tied for the highest mark since July 1945. Motor vehicle sales had their strongest month in seven years. At the height of the recession, there were six job seekers for every job available. Today, it’s two-and-a-half people competing for every open job.
“Without question, there is more still to do. On issues from infrastructure to immigration reform, from manufacturing to the minimum wage, there are steps Congress can take that will help more people punch their ticket to the middle class.
“For the 57th straight month (since the middle of 2009), at least one-third of jobless Americans have been unemployed for more than 27 weeks. So, priority number one must be for the House and Senate to extend emergency unemployment benefits that they irresponsibly allowed to expire more than three months ago, creating profound hardship for 2.3 million people. These benefits are a critical lifeline for job seekers struggling to get back on their feet; but they also act as a broader economic stimulus, putting money in people’s pockets and spurring consumer demand.
“The success of the Affordable Care Act is helping working families enjoy greater economic security, the peace of mind of knowing they won’t be wiped out by an injury or illness. The open enrollment period ended with 7.1 million people signing up for health coverage they didn’t have before. The ACA will help provide a shot in the arm to the economy, as people are free to start their own businesses and pursue entrepreneurial ventures now that their health insurance is no longer tied to their job.”

http://www.dol.gov/opa/media/press/opa/opa20140572.htm

The “1984″ analogy is obvious.

As most of you know, Obamacare is costing millions of Americans far more in healthcare premiums.

Despite the best linguistic efforts of Secretary Perez to put a positive spin on the impact of Obamacare, it is also impacting jobs.

From the Duke University Fuqua School of Business, December 11, 2013.

“——————————————-
DUKE UNIVERSITY NEWS
Duke University Office of News & Communications

http://www.dukenews.duke.edu

——————————————-

FOR IMMEDIATE RELEASE: Wednesday, Dec. 11, 2013
CONTACTS: Kevin Anselmo (Duke’s Fuqua School of Business)
(919) 660-7722
kevin.anselmo@duke.edu
or
David W. Owens (CFO Magazine)
(617) 790-3000
davidowens@cfo.com

CFO SURVEY: AFFORDABLE CARE ACT COULD CURTAIL HIRING

Note to editors: For additional comment, see contact information at the end of this release.
Watch professor John Graham discuss the results (or use this link
http://youtu.be/F4oj8d5F9Jo). You may also post this video on your website. Names of CFOs who took part in the survey and agreed to speak with media are available by request.

DURHAM, N.C. — A significant percentage of U.S. chief financial officers indicate that because of the Affordable Care Act (ACA), they may reduce employment growth at their firms and shift toward part-time workers.

A majority of finance chiefs also believe the full Social Security retirement age should be raised to help close the budget shortfall.

Despite these issues, underlying economic conditions are expected to improve in 2014 and, except in Europe, corporate charitable giving remains strong

These are some of the findings from the latest Duke University/CFO Magazine Global Business Outlook Survey, which concluded Dec. 5. The survey has been conducted for 71 consecutive quarters and spans the globe, making it the world’s longest running and most comprehensive research on senior finance executives. Presented results are for U.S. firms unless otherwise noted.

EMPLOYMENT EFFECTS OF THE AFFORDABLE CARE ACT

Nearly half of U.S. companies are reluctant to hire full-time employees because of the ACA.
One in five firms indicates they are likely to hire fewer employees, and another one in 10 may lay off current employees in response to the law.

Other firms will shift toward part-time workers. More than 40 percent of CFOs say their companies will consider switching some jobs to less than 30 hours per week or targeting part-time workers for future employment.”

Read more:

http://www.cfosurvey.org/14q1/PressRelease.pdf

From data provided by the US Labor Dept. we learn:

The Labor Force Participation Rate has dropped 2.5 percent since Obama took office in January 2009 and actually has dropped .1 percent the past year.

The number of people who could only find part time work has risen 1,055,000 since Obama took office and has risen 146,000 in the past year.

The only statement from Secretary Perez that reflects reality is:

“For the 57th straight month (since the middle of 2009), at least one-third of jobless Americans have been unemployed for more than 27 weeks.””

http://citizenwells.wordpress.com/2014/04/07/labor-secretary-perez-on-march-employment-numbers-fact-vs-fiction-solid-and-steady-economic-recovery-obamacare-helping-working-families-enjoy-greater-economic-security/

 

Obamacare and Obama economy kill NC medical jobs, Wake Forest Baptist Hospital likely will cut more than 1000 jobs, 950 jobs already cut, Small and medium sized hospitals hit hardest

Obamacare and Obama economy kill NC medical jobs, Wake Forest Baptist Hospital likely will cut more than 1000 jobs, 950 jobs already cut, Small and medium sized hospitals hit hardest

“If you like your health care plan, you can keep your health care plan.”…Barack Obama

“If you’ve got health insurance we’re going to work with you to lower your premiums by $2,500 per family per year. We will not wait 20 years from now to do it, or 10 years from now to do it. We will do it by the end of my first term as president.”…Barack Obama

“About two-thirds of the hospitals serving Medicare patients, or some 2,200 facilities, will be hit with penalties averaging around $125,000 per facility this coming year, according to government estimates.”…NE News Now

 

 

We warned you.

From the Greensboro News Record April 13, 2014.

“Another round of major expense reductions — including job cuts — are coming at Wake Forest Baptist Medical Center, with management’s plans being announced potentially as early as this week, according to sources.

Multiple employees, who are not being identified because they fear losing their jobs, have told the Winston-Salem Journal they understand that several hundred to more than 1,000 job positions could be eliminated, with the process already started in some departments.

People with knowledge of the situation say Wake Forest Baptist’s board of directors could be projecting up to an 8 percent reduction in operating expenses in fiscal 2014-15, which begins July 1. The sources say the board is contemplating a similar step in expense reduction for fiscal 2015-16.

The center reported to bond holders and rating agencies on Feb. 28 that it had $983.9 million in operating expenses through the first half of fiscal 2013-14. If it were to have $2 billion in operating expenses for the full fiscal year, an 8 percent reduction could represent about $160 million.

Operating revenue for the first half was up 4.5 percent to $960.4 million.

The center has about 13,000 full- and part-time employees, making it Forsyth County’s largest workforce. At least 950 job positions have been eliminated since a “re-engineering” initiative began in April 2012 that was projected to reduce expenses by several hundred million dollars.

When asked about another round of cost cutting, the center issued a statement Friday that said “the medical center is deeply engaged in its annual budgeting process and is continuing to proactively address the challenge of declining reimbursement for health care services. Since we are still in the planning cycle, it would be premature to comment further at this time.”

One source said that the board and Dr. John McCon nell, the center’s chief executive, are “rethinking the size of the expense base” and that the cuts “are not a one-time measure, although the hope is that through the reductions, the expense situation will improve. There is a need to expand the overall clinical platform to raise revenue.””

“The enhancements are similar to those of other academic medical centers and health systems in response to changes in federal health reimbursement formulas, higher mandated requirements for quality and infrastructure, new models of care delivery that are focused on value, and declines in federal funding for research and discovery.”

Read more:

http://m.news-record.com/news/article_fb40f586-c2c2-11e3-8af3-001a4bcf6878.html?mode=jqm

Also from above:

“Other industrywide challenges include more people without health insurance seeking medical help in its emergency department, which tends to increase the amount that hospitals are writing off as bad debt.”

More people without health insurance ???

From Citizen Wells November 15, 2012.

“Update: Wake Forest Baptist Medical Center to cut 950 job”

“Wake Forest Baptist Medical Center will lay off 76 employees this week and cut a total of 950 jobs by the end of next June, the center’s chief executive said today.

Dr. John McConnell said most of the cuts are administrative positions, but some faculty members could lose their jobs due to cuts in federal research funding. He also said 2012-13 revenue is being affected by “deep cuts in Medicare and Medicaid payments, which constitute nearly half of our health-care reimbursements.”

In a statement, the center said the cuts were being made “after a long and careful review of current staffing levels across the organization.”

The center said its restructuring is “designed to position the institution for success aligned with the challenges of health-care reform, federal budget deficits and a decline in research funding from The National Institutes of Health and private industry.”

https://citizenwells.wordpress.com/tag/nc-wake-forest-baptist-medical-center-to-cut-950-jobs/

From Citizen Wells November 25, 2012.

“That’s a delicate balance, said Mark Graban, a national expert and consultant on health care management who lives in San Antonio, Texas.

“It’s easy to add up the cost savings of reduced payroll,” he said. “But it’s hard to add up the side effect of those layoffs.”

He said layoffs are sweeping the industry. Graban referred to a report from the American Hospital Association that says hospitals will cut 93,000 jobs during 2013.

Wake Forest and other major hospitals across the nation pledge that nurse-to-patient ratios won’t change despite the job cuts. Graban said that simple pledge may only mask lingering problems that hurt the quality of patient care.

Nurses and other professional staff, for example, see the headlines, see friends who may be laid off and work in fear, he said.

“A lot of times, quality and good patient outcomes are a result of nurses and other staff going above and beyond,” Graban said. “My concern would be not that the professionals are going to get lazy, but are they going to continue to be motivated to go above and beyond?””

“The coming changes could cost North Carolina’s hospitals up to $7.5 billion over the next 10 years , Dalton said.”

http://citizenwells.wordpress.com/2012/11/25/obamacare-forces-93000-hospital-job-cuts-in-2013-nc-hospitals-costs-up-7-5-billion-the-next-10-years-medicare-and-medicaid-reimbursements-mass-layoffs/

 

 

Greensboro Guilford County NC jobless rates drop, April 10, 2014, Fewer people working and jobs lost, Greensboro News Record accurate report, Labor force has plummeted in NC

Greensboro Guilford County NC jobless rates drop, April 10, 2014, Fewer people working and jobs lost, Greensboro News Record accurate report, Labor force has plummeted in NC

“11.4%: What the U.S. unemployment rate would be if labor force participation were back to January 2008 levels.” …James Pethokoukis, American Enterprise Institute, June 2013

“Nearly half of U.S. companies are reluctant to hire full-time employees because of the ACA. One in five firms indicates they are likely to hire fewer employees, and another one in 10 may lay off current employees in response to the law.

Other firms will shift toward part-time workers. More than 40 percent of CFOs say their companies will consider switching some jobs to less than 30 hours per week or targeting part-time workers for future employment.”…Duke University Fuqua School of Business December 11, 2013

“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″

 

 

I applaud the Greensboro News Record for this accurate jobs report April 10, 2014.
“Jobless rate falls again in Guilford, but what does it mean?”

“Greensboro’s unemployment rate keeps dropping, but that may not mean that more people are working.

Since February 2013, this region’s unemployment rate has dropped from 9.9 percent to 6.9 percent this February, according to statistics released Wednesday by the N.C. Department of Commerce. The numbers are not adjusted for seasonal variations in hiring patterns.

But the employment pie is shrinking, so the number doesn’t necessarily mean more people have landed jobs.

And because the state surveys employment in a variety of ways, one measurement is up, and one is down, sending mixed messages.

A simple count shows that 1,970 more people say they’re working, compared with February a year ago, but the Greensboro-High Point labor force, defined as people who are employed or unemployed and actively seeking work, has dropped from 370,500 in February 2013 to 360,500 this past February.

That suggests that many people simply have stopped looking for work, local economists have said in recent months.

Perhaps the best measure of jobs, UNCG economist Andrew Brod said, is the survey of establishments that asks how many workers they employ.

Wednesday’s establishment survey shows that the Greensboro-High Point metro area lost 800 jobs between February 2013 and February 2014.”

Read more:

http://m.news-record.com/business/article_3f1582e4-bff4-11e3-8341-0017a43b2370.html?mode=jqm

From Citizen Wells March 29, 2014.

“We have the Obama administration touting job creation.

Governor Pat McCrory of NC is pleased with the improvement in the jobs situation.

The truth has stayed mostly hidden or under reported.

To fix a problem it is important to:
A) Acknowledgement the problem.
B) Understand the problem.

It appears that neither A or B is the case.

The Labor Force Participation Rate in NC has dropped 4 percent since Obama took office in January 2009 and 1.7 percent since Pat McCrory took office in January 2013.

The real unemployent rate in the US and NC?

Well over 10 percent.”

http://citizenwells.wordpress.com/2014/03/29/nc-unemployment-rate-drops-while-labor-force-plummets-participation-rate-drops-4-since-obama-took-office-1-7-since-mccrory-took-office-nc-losing-jobs-and-workers/

God only knows the impact of part time jobs on NC employment and the economy.

 

 

Labor Secretary Perez on March employment numbers, Fact vs fiction, Solid and steady economic recovery?, Obamacare helping working families enjoy greater economic security?

Labor Secretary Perez on March employment numbers, Fact vs fiction, Solid and steady economic recovery?, Obamacare helping working families enjoy greater economic security?

“Over the last six months, of the net job creation, 97 percent of that is part-time work,”…Keith Hall, former BLS chief

“Nearly half of U.S. companies are reluctant to hire full-time employees because of the ACA. One in five firms indicates they are likely to hire fewer employees, and another one in 10 may lay off current employees in response to the law.

Other firms will shift toward part-time workers. More than 40 percent of CFOs say their companies will consider switching some jobs to less than 30 hours per week or targeting part-time workers for future employment.”…Duke University Fuqua School of Business December 11, 2013

“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″

 

 

The US Labor Dept. reported the March employment data on Friday April 4, 2014.

US Secretary of Labor Thomas E. Perez issued the following statement:

“Today’s report tells the story of a solid and steady economic recovery delivering more opportunity for more people. We saw 192,000 new jobs in the month of March, and the private sector has now created 8.9 million jobs over the last 49 consecutive months of employment growth. The unemployment rate held steady at 6.7 percent and is down from 7.5 percent a year ago.
“There is encouraging news across sectors. Health-care employment increased by 19,000 jobs. The average work week in manufacturing rebounded to 42.0 hours, tied for the highest mark since July 1945. Motor vehicle sales had their strongest month in seven years. At the height of the recession, there were six job seekers for every job available. Today, it’s two-and-a-half people competing for every open job.
“Without question, there is more still to do. On issues from infrastructure to immigration reform, from manufacturing to the minimum wage, there are steps Congress can take that will help more people punch their ticket to the middle class.
“For the 57th straight month (since the middle of 2009), at least one-third of jobless Americans have been unemployed for more than 27 weeks. So, priority number one must be for the House and Senate to extend emergency unemployment benefits that they irresponsibly allowed to expire more than three months ago, creating profound hardship for 2.3 million people. These benefits are a critical lifeline for job seekers struggling to get back on their feet; but they also act as a broader economic stimulus, putting money in people’s pockets and spurring consumer demand.
“The success of the Affordable Care Act is helping working families enjoy greater economic security, the peace of mind of knowing they won’t be wiped out by an injury or illness. The open enrollment period ended with 7.1 million people signing up for health coverage they didn’t have before. The ACA will help provide a shot in the arm to the economy, as people are free to start their own businesses and pursue entrepreneurial ventures now that their health insurance is no longer tied to their job.”

http://www.dol.gov/opa/media/press/opa/opa20140572.htm

The “1984” analogy is obvious.

As most of you know, Obamacare is costing millions of Americans far more in healthcare premiums.

Despite the best linguistic efforts of Secretary Perez to put a positive spin on the impact of Obamacare, it is also impacting jobs.

From the Duke University Fuqua School of Business, December 11, 2013.

“——————————————-
DUKE UNIVERSITY NEWS
Duke University Office of News & Communications

http://www.dukenews.duke.edu

——————————————-

FOR IMMEDIATE RELEASE: Wednesday, Dec. 11, 2013
CONTACTS: Kevin Anselmo (Duke’s Fuqua School of Business)
(919) 660-7722
kevin.anselmo@duke.edu
or
David W. Owens (CFO Magazine)
(617) 790-3000
davidowens@cfo.com

CFO SURVEY: AFFORDABLE CARE ACT COULD CURTAIL HIRING

Note to editors: For additional comment, see contact information at the end of this release.
Watch professor John Graham discuss the results (or use this link
http://youtu.be/F4oj8d5F9Jo). You may also post this video on your website. Names of CFOs who took part in the survey and agreed to speak with media are available by request.

DURHAM, N.C. — A significant percentage of U.S. chief financial officers indicate that because of the Affordable Care Act (ACA), they may reduce employment growth at their firms and shift toward part-time workers.

A majority of finance chiefs also believe the full Social Security retirement age should be raised to help close the budget shortfall.

Despite these issues, underlying economic conditions are expected to improve in 2014 and, except in Europe, corporate charitable giving remains strong

These are some of the findings from the latest Duke University/CFO Magazine Global Business Outlook Survey, which concluded Dec. 5. The survey has been conducted for 71 consecutive quarters and spans the globe, making it the world’s longest running and most comprehensive research on senior finance executives. Presented results are for U.S. firms unless otherwise noted.

EMPLOYMENT EFFECTS OF THE AFFORDABLE CARE ACT

Nearly half of U.S. companies are reluctant to hire full-time employees because of the ACA.
One in five firms indicates they are likely to hire fewer employees, and another one in 10 may lay off current employees in response to the law.

Other firms will shift toward part-time workers. More than 40 percent of CFOs say their companies will consider switching some jobs to less than 30 hours per week or targeting part-time workers for future employment.”

Read more:

http://www.cfosurvey.org/14q1/PressRelease.pdf

From data provided by the US Labor Dept. we learn:

The Labor Force Participation Rate has dropped 2.5 percent since Obama took office in January 2009 and actually has dropped .1 percent the past year.

The number of people who could only find part time work has risen 1,055,000 since Obama took office and has risen 146,000 in the past year.

The only statement from Secretary Perez that reflects reality is:

“For the 57th straight month (since the middle of 2009), at least one-third of jobless Americans have been unemployed for more than 27 weeks.”