|Source: Bureau of Labor Statistics|
Thursday, January 14, 2016
Obama's SOU 2016
Despite what the President contends, our State of the Union is not good. Just a few days ago the BLS (Dept. of Labor) released the December civilian labor force participation rate. As you can see from the graph, only 62.6% of the civilian labor force is working--a statistic not seen since the malaise of the Jimmy Carter years. We need a flatter and fairer tax code, spending reductions from an unsustainable $4 trillion dollar federal budget, and cuts in the number of regulations that now total 80,000 pages in the Federal Register. This is the kind of economic reform I intend to provide in Congress.