I'm from da gub'mint, and I'm here to help - the gub'mint.
Ty SCA
"In an Aug. 31 letter to House Speaker Nancy Pelosi (D-Calif.), Obama said he would use his power to reduce the federal employee pay raise set for January 2010 from 2.4 percent to 2.0 percent.
“The growth in federal requirements is straining the federal budget,” wrote Obama. His letter said a 2.4 percent increase would cost $19.9 billion more than the 2 percent increase he proposed in his 2010 budget.
The Congressional Budget Office last week set the fiscal year deficit at $1.6 trillion, the highest deficit ever in the post-World War II era. The Office of Management and Budget estimated the 10-year deficit to 2019 had expanded from $7 trillion to $9 trillion."
Only in the la-la land of D.C. can a net increase be spun into savings.
Meanwhile, Unemployment rate creeps closer to 10%.
"It was the highest rate since 1983, up from 9.4 percent in July.
Some economists found a hint of good news in the Labor Department report issued Friday.
Although employers cut 216,000 jobs in August, it was the smallest monthly loss in a year, below the revised figure of 276,000 in July.
"The trend is in the right direction," said national economic forecaster Joel Naroff, who took the slowing layoff rate as another sign that the recession is easing.
Economists have seen evidence of increasing industrial production in recent months, giving rise to expectations that the output of goods and services is rebounding.
But the probability that future job losses will push the rate past 10 percent also raises fears that nervous consumers will continue to curb spending and squash the budding recovery."
Only in the la-la land of economic forecasts can a continued loss be spun into an increase.
But, my, oh my, how times have changed now that a magic unicorn trods the lanes of Pennsylvania Avenue.
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Have a great Labor Day Weekend, folks! Here's hoping you keep all your digits.