August 11, 2009
Re "Amid the cutbacks, pensions soaring," Aug. 9 I'm a Los Angeles Department of Water and Power retiree whose retirement benefits don't come anywhere near what the folks on your list are making, but I am at a loss to understand the purpose of your article other than to incite public outrage. By comparison, over the last two years, hundreds of high-profile private-sector CEOs made personal fortunes while running their companies into the ground, destroying the lives and pensions of their employees and investors.
June 10, 2012 |
President Obama's comment Friday that the “private sector is doing fine” continued to dominate television political debates Sunday, with surrogates trying to minimize the impact of his remarks, and opponents seeking to take maximum advantage, despite Obama's retraction of the comment Friday afternoon. Indiana Gov. Mitch Daniels, a rumored vice presidential possibility for Republican candidate Mitt Romney, questioned Obama's ability to comprehend how employment works. “He does not understand where wealth and jobs come from.
June 8, 2012 |
WASHINGTON -- Congressional GOP leaders launched an orchestrated round of attacks on President Obama's assessment that private companies are doing “fine” in the sluggish economy, essentially ridiculing the White House's assertion that it is the public sector that needs government support to keep teachers, firefighters and other employees on the job. “Mr. President, take it from me, the private sector is not doing fine,” said House SpeakerJohn A. Boehner(R-Oh.), reminding that he was a small business owner before coming to Congress 20 years ago. “Are you kidding?
November 2, 2011
U.S. private employers added more jobs than expected in October, and more were added in September than originally reported, while a separate report showed planned layoffs dropped sharply last month. The ADP National Employment Report showed Wednesday the economy's private sector added 110,000 jobs last month, topping economists' expectations for a gain of 101,000 jobs. ADP also increased September's job additions, to a gain of 116,000 from the previously reported 91,000. The report is jointly developed with Macroeconomic Advisers LLC. "It is not a huge amount better, but the fact that it was better than expected and there was a revision in the last month's number is a pretty encouraging sign," said Peter Jankovskis, co-chief investment officer at Oakbrook Investments LLC in Lisle, Illinois.
January 9, 2013 |
The private sector is slowly climbing its back way from the Great Recession, adding 155,000 jobs in December, but the public sector is continuing its long employment slide, making it the worst few years for government employees in recent memory. That's a conclusion from a new report by the Nelson A. Rockefeller Institute of Government at the University of Albany, which calculates that while private-sector employment is down 3.1% from its peak in January 2008 and on the rebound, state and local government employment is down 3.4% from its peak in August 2008 and continuing to slide.
June 8, 2012 |
Mitt Romney hit back at President Obama's comments Friday morning that the private sector was "doing fine," with the GOP nominee saying it was evidence that the president does not understand the economy or the financial struggles facing Americans. "Is he really that out of touch? I think he's defining what it means to be detached and out of touch with the American people," Romney told supporters gathered in a park in Council Bluffs, Iowa. "Has there ever been an American president who is so far from reality?"