Friday, July 02, 2010

The New Jobs Report - No Change From A Year Ago, After $1 Trillion In Spending

I read with interest the new jobs report which reported a slight dip in unemployment, from 9.72 to 9.5%.

Needless to say, President Obama was trumpeting this as a sign that things are getting better. Which shows me that either math was not one of his strong points at Harvard, or he is deliberately misleading the American people for his own political purposes.

The figures he's touting come from the U3 unemployment rate, which does not include over 652,000 people who have given up looking for work. The U6 Bureau of Labor Statistics rate, which does include those people is at 16.5%...nearly 30 million people are without jobs or forced into part-time work and more than 6.7 million workers have been unemployed for more than 27 weeks.

It's even more illuminating to look at the same stats, one year ago today - the U3 rate was at 9.5%, and the U-6 rate was, yes, at 16.5%. In other words, after over a trillion dollars in spending , after Obama's bogus 'stimulus' nothing has changed, the wealth of the American people has been wasted and/or diverted and we're now deeply in debt.

It's obvious that President Obama and the Democrats in Congress are absolutely clueless on how to turn things around. The biggest problem with our economy is that these out of control clowns are still employed.

please helps me write more gooder!


louielouie said...

or he is deliberately misleading the American people for his own political purposes.

you're just a riot today aren't you?

Freedom Fighter said...

Hey, I try.

B.Poster said...

Had Congress and the White House not passed the stimulus we would likley be coming out of the recession now. What caused the problems in the first place was excessive government meddling in the privae sector. More of the same will not solve the problem. In fact, it will only make it worse.

I've heard it said doing the smae thing over and over again expecting different results is a definition of insanity. I think that is quite correct. Excessive governmnet meddling caused the problem. The best solution would be to get the government out of the way NOT still more government meddling.

I realize this is counterintuitive to this President, this Congress, and the leadership in both the Republican and Democrat parties. The best thing for Barack Obama, Congress, and the leaders of the Republican and Democrat parties would be to find a nice corner in DC and stay there. Do nothing and say nothing. Stay out of the way!!

Now, if the must "do something", allocate 1 trillion dollars to the SBA with the instructions to "lend baby, lend baby." If they do this, the Government will make the money back in interest and taxes within five years. That is, IF after allocating the funds to the SBA with their instructions and ensuring SBA complies with their instructions, the STAY OUT OF THE WAY!!