October 9, 2012

Jobs and the Economy 

Number of Underemployed Americans Rises in September: The total number of “underemployed” Americans was 23.2 million in September, including those unemployed (12 million), those who are no longer looking for work (2.5 million), and those who are working part-time because no other work is available (8.6 million). The number of underemployed Americans grew by 100,000 from September to August, even as the president tried to tout his success in lowering unemployment.

 

Spending

President Obama Racks Up Unprecedented Level of Debt Compared Predecessors—$5.5 Trillion and Counting: The national debt—which just eclipsed $16 trillion—has increased by $5.5 trillion or 52 percent since President Obama took office. By comparison, our total national debt did not reach $5.5 trillion until 1997, during President Clinton’s second term. It took President Obama just over 44 months to rack up as much debt as 42 other American presidents combined. Under President Bush (43) the national debt grew by $4.89 trillion in eight years. President Obama has surpassed that amount by $600 billion in less than half that time.

 

Health Care

Orlando-based Darden Restaurants Cuts Employee Hours to Avoid ObamaCare Costs: Darden Restaurants, which owns the Red Lobster, Olive Garden, Long Horn Steakhouse and Yard House chains, has stopped offering full-time schedules to hourly employees in four markets. Darden Restaurants said its goal is to keep employees at 28 hours per week. In 2014, under the Affordable Care Act, large companies must provide affordable health insurance to employees working an average of at least 30 hours per week. The company says this test is “just one of the many things we are evaluating to help us address the cost implications health care reform will have on our business.” 

 

The Republican Plan for Job Creation and Growth

House Republicans have a plan to restore confidence and certainty to the economy and create jobs. For more information on the House Republican Growth Plan, click here: http://www.gop.gov/indepth/jobs.

 

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If you have any questions or would like to submit an idea for next week’s “Tri-Facta,” please contact Lisa Collins.