Tag: temporary

The Payroll Tax Cut is Funded with Increased Mortgage Fees

~ Pharmer

Increasing Mortgage Fees to Fund the Payroll Tax Cut | Mortgage News.

In the temporary payroll tax cut bill that  reduces the funding of social security, there is an increase in mortgage fee payments collected by Freddie Mac and Fannie Mae.   This will occur over a ten year period, and the money will go to the Treasury, not the two mortgage lenders.

The cost of the payroll tax cut is being shifted to people who take out new mortgages or refinance them.

The housing industry really didn’t need this additional “help”.  This new mortgage  fee is never expected to go away, unlike the temporary payroll tax cut (which cuts funding of social security).

Bottom line,  Obama is not really cutting taxes, and if he were, it would be a cut to the source of social security funding.

Artificial Deflation of Unemployment.

~ Pharmer ~ 2 Comments

My Way News – GAO: Census has computer problem.

The above linked article tells you all about the ineptitude of the government, its  inability to handle the census data, and the extreme waste of money going into the collection of it.

One figure of extreme interest is that 635,000 people have been hired to visit a total of 48 million American homes.   Each person is trained for four days, and then expected to visit homes which did not respond using the census forms.  This translates to 76 homes per census worker.  While it is understood that some of these households are remote,  it is obvious that census employment is VERY TEMPORARY.

This job is without benefits,  it may require utilizing the automobile of the employee, and it removes this person from the unemployment rolls, whether they are actually engaged in work, or whether they are waiting, without pay in the census employment pool.

Please remember this artificial deflation of the unemployment figures while you are evaluating government generated employment statistics.

Also remember that malfunctioning computer programs are being used for accumulation and analysis of the census data.