We know that more people left the workforce last month and that the bulk of private sector jobs created were part-time (because of Obamacare), but did you know that disability is still on the uptick?
The Obama administration lowered the restrictions for disability eligibility. Bad backs and dysphoria (sadness) now meet eligibility requirements, as do other common disorders.
CNS News – The total number of people in the United States now receiving federal disability benefits hit a record 10,962,532 million in April, which exceeds the 10,815,197 people who live in the nation of Greece.
According to newly released data from the Social Security Administration, the record 10,962,532 total disability beneficiaries in April, included a record 8,865,586 disabled workers (up from 8,853,614 in March), 1,936,236 children of disabled workers, and 160,710 spouses of disabled workers.
The market is doing great because Ben Bernanke is printing money with more-than-usual vigor. Investors are being forced into the market and housing. The market will readjust at some point and we could also be faced with a housing bubble.
We at the Sentinel do not like Bernanke’s Keynesian approach to propping up the economy but we hope Bernanke is on the right track.
Read about our marvelous unemployment numbers HERE.