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Republican Senator Perceive President Barack Obama budget offer as positive

Lindsey Graham, South Carolina senator on Sunday turn into the first prominent Republican to publicly praise but lukewarmly, the budget proposal the White House outlined previous week.

Graham stated that as he believes President Barack Obama’s plan is overall bad for the economy, there are piece of his budget that he think are optimistic, and that could set the stage for a broad negotiate to put the nation’s finances on a stronger footing. He was talking on NBC’s Meet the Press program.

Graham, a conventional who has deviated from party positions in the past, and has stated he would consider lifting up to $600 billion in new tax revenue if Democrats accept important changes to Medicare, the government health program for elderly Americans, and Medicaid the health safety net for low income people.

The White House on Friday stated the president would suggest a budget that would offer cuts to supposed entitlement programs such as Social Security, a Medicare, and retirement program in exchange for augmented tax revenues and a commitment to spend money on education and infrastructure repair.

Obama’s proposal, which will officially be made public on Wednesday is a symbolic document, and both the House of Representatives and Senate have already passed their own budget resolutions.

The president’s adviser have said that he hopes to use the offer to appeal to sufficient middle of the road lawmakers of both parties to pass a broad deal to cut the budget deficit.

Obama also expect to reverse the deep spending cuts that automatically kicked in March 1 as a consequence of the failure of the Congress and White House to reach an agreement on replacing them.

John Boehner, House Speaker stated previous week the president was ignoring Republicans staunch opposition to any tax hikes. And independent Senator Bernie Sanders stated he would resist any efforts to lower payments to Social Security beneficiaries.

Graham further said that the president is showing a little bit of support here, this is somewhat encouraging, his overall budget’s not going to make it however he has sort of made a step forward in the privilege reform process that would allow a guy like me to begin to talk regarding flattening the tax code and generating more revenue.


Jobs statistics Are Far Worse Than They Look, Economists Shocked

Economists were shocked by the enormous beat in Friday’s reported job figures. The unemployment rate plunged 0.2 percentage points to 7.7% and the economy purportedly added 236,000 jobs.

According to the household inspection on which the unemployment rate is based the economy added a strong 170,000 jobs. The survey also illustrate a marvelous boost of 446,000 part time jobs.

A Gallup survey on jobs released on Thursday illustrate the percentage of workers working part time however wanting permanent work was 10.1% in February, a boost from 9.6% in January and the greatest rate measured since January 2012.

Gallup survey notes though fewer people are unemployed now than previous year, they are not transfered to permanent jobs for an employer. In reality, fewer Americans are working permanent for an employer than were performing so previous year and more Americans are working part time.

While part time work is obviously better than no work at all, these are not the sort of good jobs that millions of Americans are still penetrating for.

During the previous month there was a rush of 679,000 in the amount of people working multiple jobs. The seasonally adjusted boost was 340,000.

One can preserve the statistics two ways. Either the economy is getting healthier and more jobs are available, or people are working more jobs as their hours were cut and they need an additional job.


White House Caution of Negative Appropriation Spending cuts

White House stated on Friday that government spending cuts due to take consequence March 1 would have harsh outcomes for ordinary Americans and the US economy, looking for turn up stress on Congress to come up with a plan to avoid what Washington calls appropriation.

President Barack Obama stated the spending cuts could weaken US military attentiveness.

Obama said at a farewell ceremony for Defense Secretary Leon Panetta, there is no motive, no reason for that to occur.

Placing our fiscal house in order calls for a balanced approach not massive, indiscriminate cuts that could have a stern impact on our military attentiveness.

Danny Werfel, a senior official at the White House budget office said that sequester is a dull and indiscriminate instrument that create a serious threat to there national security, economy and the domestic priorities.

He further said that it does not signify a responsible way to attain deficit reduction.

The management repeated its appeal to Congress to put off the planned reductions, which the White House stated would cut non-defense programs by 9 percent across the board and defense programs by 13 percent during the current fiscal year, as a result of temporary layoffs for hundreds of thousands of government workers.

Republicans stated that as they agree appropriation could be shocking, the president must offer spending cuts if he wants to see the deep automatic cuts replaced with something additional palatable.

John Boehner, a spokesman for House of Representatives Speaker said that spending is still the trouble, It’s time to finally make the reforms and cuts we all know are needed to save and strengthen our safety net programs.