This is recovery?
The US unemployment rate has now reached a 26-year high of 9.7% under Obamanomics. According to Bloomberg, “The jobless rate rose to 9.7 percent; the so- called underemployment rate — which includes part-time workers who’d prefer a full-time position and people who want work but have given up looking — reached a record 16.8 percent.”
Last month the libs leaped for joy when the July unemployment rate dropped to 9.4% from the previous month’s 9.5%. They proudly proclaimed the success of Obama’s so-called “stimulus” package and the turning of the tide of recession that had been washing across the land. The mainstream media (MSM) fell all over themselves proclaiming the success of Obamanomics and the inevitable, impending period of peace, love, and happiness in the US.
Obama, his administration, and even the press seemed to forget that 9.4% was 120% of what he promised would be the peak unemployment rate if his “stimulus” was passed. And they blocked from their minds that the President had predicted a maximum unemployment rate of 9% if he wasn’t allowed to “rescue” the economy with his $787 billion payoff to left-wing special interest groups. Suddenly, 9.4% unemployment was deemed a blessing by the pens and keyboards of left-leaning journalists. Utopia was approaching, or…at least…that’s what they claimed.
Next week, President Obama will place VP Joe Biden before the microphone to propagate his lies. Biden is set to report on the number of jobs “saved or created” by the “stimulus.” The “stimulus” bill was intended to “create or save” 3.5 million jobs by the time it was finally passed. Instead, our economy has shed 3.1 million jobs since the inception of Obamanomics. Still, the VP will take the stage to lie and claim the administration saved us from inevitable destruction. The graph above gives evidence the effect of the “stimulus” was a huge waste of money accompanied by a net loss of jobs.
In fact, the only two sectors in which employment has been steadily growing since the “stimulus” was passed have been government and health care. Of course growth in government does little to actually improve the economy since the money to fund these jobs must first be taken from the economy. We can liken Obamanomics’ theory on economic growth to trying to fill a swimming pool by dipping bucketfuls of water out of one end, walking around to the other end, and dumping the buckets back in. According to liberal economic theory, the pool will miraculously become full!
So for now, there’s only one segment of the economy functioning in a healthy manner. And we all know the plans Obama has for the health care industry. If the President has his way, the entire industry will be an arm of government. Libs probably think that will certainly cure it’s disease of remaining healthy while all around it become ill. The reality is Obama now wants to put the last remaining health economic sector under the knife. Not an exploratory surgery to discover why it’s still healthy, but a surgery to “fix” it so it functions like all of its sickly siblings.
Luckily, Americans aren’t as stupid as the President thinks. More and more of those who voted for him are losing faith, standing up, and shouting this isn’t the change we wanted.
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