Showing posts with label payroll. Show all posts
Showing posts with label payroll. Show all posts

Wednesday, March 14, 2012

Bipartisan Payroll Tax Cut is going to raise the Obama Deficit

Republicans wanted budget cuts to offset the payroll tax cut, but Obama wanted more taxes on the wealthy. Now Obama gets credit for raising the deficit. It looks like the derp is on Obama for this one.

Via USA Today:
The payroll tax cut recently enacted by Congress and signed by President Obama will increase the federal budget deficit this year, the Congressional Budget Office says.

What's more, the deficit is likely to be a little deeper than estimated in 2013 and 2014 as well.

The agency's latest report, which updates its forecast from January, shows a likely deficit this year of $1.2 trillion, rather than the $1.1 trillion originally projected. It shows the deficit declining to $1 trillion in 2013 and $953 billion in 2014, both a bit higher than January's forecasts.

Tuesday, May 12, 2009

Obama tries to solve unemployment by government hiring

The record deficits aren't a deterrent to the Obama administration expanding government payrolls. And the jobs pay very well. In 2007, the median annual household income was $50,233.00 according to the Census Bureau. The average pay for a federal worker will leap from $72,800 in 2008 to $75,419 next year. And the government is hiring like crazy. CBS News reported:
President Obama's call last year for "shared sacrifice" doesn't extend to federal employees, at least based on the details of his administration's 2010 budget released this week.

At a time when the official unemployment rate is nearing double digits, and 6.35 million people are receiving unemployment benefits, the U.S. government is on a hiring binge.

Executive branch employment — 1.98 million in 2009, excluding the Postal Service and the Defense Department — is set to increase by 15.6 percent for the 2010 fiscal year. Most of that is thanks to the Census Bureau hiring 102,000 temporary workers, but not counting them still yields a net increase of 2 percent in one year.

There's little belt-tightening in evidence in Washington, D.C.: Counting benefits, the average pay per federal worker will leap from $72,800 in 2008 to $75,419 next year.

Hat tip to Gateway Pundit.