45.5% of the population supports the other 54.5% of the population
In my most recent post, Trading Jobs for Ropes, I quoted David John Marotta (a Wall Street advisor) who calculated that the actual unemployment rate of those not working is a sky-high 37.2 percent, not the 6.7 percent as advertised by the Fed.
I wondered how he arrived at the number, because I got 37.4%.
317,454,372 Total U.S. population (Google shows 313,900,000)
246,745,000 Civilian noninstitutional population,
Counted unemployed, of those:
92,338,000 Not in labor force
(not counted as unemployed), of those:
92,338,000 not in the labor force is 37.4% of
246,745,000 on the civilian noninstitutional population.
144,423,000 employed (both part and full time) support 317,454,372 people (45.5% of the population supports 54.5% of the population)
In July of last year, Fox News reported that Only 47% of Adults Have Full-Time Job --- now 6 months later we have 44.4% of adults with full-time jobs. (more people are working part-time; maybe because employers are cutting hours to escape ObamaCare™)
246,745,000 Civilian noninstitutional population > minus 9,984,000 counted unemployed > minus 7,771,000 working part-time (but want a full-time jobs) = 109,563,000 working full-time (or 44.4% of the civilian noninstitutional population.
Congress is set to approve $9 billion in cuts to the food stamp program even as a record number of Americans live in poverty. Prior to the current bill, House Republicans had drafted legislation slashing $40 billion from the food stamp program. That bill passed the House with Republican votes only. After months of negotiations with the Democrat-controlled Senate, which wanted much lower cuts of around $4 billion, the House finally passed a farm bill 251-166 Wednesday that contains a "compromise" $9 billion in reductions to the food stamp program. (That's after last November's cuts). Here's why the compromise level of cuts is a Republican win:
In addition to the $9 billion in food stamp cuts in this five-year farm bill, another $11 billion will be slashed over three years as stimulus funding for the program expires
With no jobs and no food, what's left to do --- hang ourselves?