Unemployment Up and as Obama Walks On Water, Millions of Americans Remain Under Water

Bookmark and Share The last jobs report to come out before the election shows that after a too small for comfort drop in the unemployment rate last month, this month it is back up. to 7.9% and the real unemployment rate is at 14.6%.  This officially makes this the slowest recovery from any recession in our nation’s history.

No matter how one looks at it, the Obama economic policies are not working.  The President has tried to claim that we are moving in the right direction, but this latest report makes that claim as ludicrous as his claim that he knew nothing about what was going on in Benghazi.

Beyond President Obama’s policies though are the reality we are facing.

These latest jobs reports do not reflect the loss of jobs and wages that have taken place since the beginning of the week when Hurricane Sandy decimated many parts of the North East.  Admittedly President Obama had nothing to do with the still unfolding economic effects of Hurricane Sandy, but when that natural disaster is combined with the cumulative effects of the disastrous Obama economic policies, we find ourselves facing depressing conditions for millions of Americans who are finding things in America getting worse, not better.

For liberals, Barack Obama was once hailed as a messianic political figure who practically walked on water.  Four years later, our nation remains under water.  Recently he visited storm ravaged New Jersey in an attempt to “act” presidential and show us that he was here for us.  As a New Jersey resident, I am still trying to figure out what good that PR stunt did for my fellow suffering New Jerseyans.  And as we try to figure that one out, we get these latest jobless figures and are left wondering what possible good this President has done for our nation and its economy during the last four years.

America has not reelected a President who commanded over unemployment as high as the ones we currently have since President Franklin Delano Roosevelt during the Great Depression.   History could of course repeat itself on November 6th, but given the dismal record of this President, Americans must ask themselves this.  Is there any reason to prolong the depressing economic condition that President Obama is putting us through with his big government, tax and spend, deficit busting policies?

The answer is no.  After four years it is clear that not only does President Obama not walk on water, the liberal emperor that he is, has no clothes and under his economic policies, Americans can’t afford to buy their own clothes.  Like Hurricane Sandy, President obama needs to go…. quickly

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The Dismal Record of Obamanomics Explained

   Bookmark and Share  A new video from the Center for Freedom and Prosperity Foundation shows voters who care, how and why  Obamanomics is a dismal failure.   The approximately 6 minute long video offers a clear and concise explanation of how the tax and spend solutions that President Obama offered to stimulate our economy had the exact opposite effect.

The video explains everything from how the President’s first $800 billion stimulus package failed to produce jobs,  to how cash for clunkers proved to be a clunker that left America $1.4 billion poorer, and how other liberal endorsed Obama policies, rules, and regulations cost us more in jobs and capital than they created.

This short documentary also goes beyond simply explaining how Obama’s economic policies have failed us, it also goes right to the heart of the President’s attempt to make us believe his false logic behind the argument that while things may not be good, his policies have prevented them from being worse than they would have been had those policies not been enacted.  The narrator in the video explains how that while President Obama would have you believe that he inherited the worst since the Great Depression, the truth is that the economy who took control over in 2009 was still in better shape than the economy that Ronald Reagan from Democrats in 1981.  In this video you will even see how despite inheriting economic circumstances that were far worse than those facing Barack in 2009, in 1981 Ronald Reagan and his policies improved the nations economy at a far faster pace than Obamanomics has. It shows how while economic growth under Ronald Reagan was at 5.6% under Obama it has been that rate has been stuck at a painfully sluggish pace of 2.2%.  As for unemployment, while Reaganomics decreased the it by as much a% during his first three years in office, Obamanomics has brought down by a mere 1.8 percentage points.  And while inflation was reaching double digits when Reagan came to office, he cut that rising rate by two-thirds and got it down to 3.5%.  Under Barack Obama, inflation has in creased by 1.7%.

After seeing this video you will understand that for the last three and a half years, the only thing Barack Obama has succeeded to do is suppress the type of recovery which this nation uses experiences after a recession.  In the past the deeper the recession, the more robust the recovery is.  But Barack Obama has upended that historic reality.  Thanks to him and the liberal led Congress, America is in the midst of slowest economic recovery ever.

So sit back and watch this informative video.  It will not only give you a better understanding of the issue, it will also help you to see exactly how big a liar our President is.

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Unemployment Rate Explained

Conservatives woke up two days after one of our best debates since Bush/Kerry to hear that despite slower job growth than economists were expecting, the unemployment rate had dropped to 7.8%.  This is magically .1% lower than it was when Obama took office.  Most Americans don’t understand the details of the jobs report, but they understand 7.8%.

If you’ve ever played the game “which of these is not like the other”, the 7.8% rate would qualify.  Economists expecting 142,000 new jobs (the actual number was 114,000 according to the Establishment Survey) expected the rate to stay the same or go up to 8.2%.  However, there are two surveys used to measure the rate as I will explain later.

This is pretty wonky stuff and I don’t want to lose you, so let me get to the point then we will discuss the details.  The reason the rate dropped is because the economy added 583,000 part-time jobs.  But the U-6, which measures unemployed and under employed remained unchanged at 14.7%.  In other words, 583,000 people got part-time jobs they didn’t want.  Why?

Now for the background.  In 2012 we saw some major changes to the way unemployment benefits are paid out.  First, for anyone who loses their job after the beginning of the year, states only pay for 26 weeks.  Second, in states with high unemployment the federal government cut back payments from 99 weeks to 73 weeks.  They cut to 63 weeks for low unemployment states.  So here is the question:

What do you do when your unemployment benefits run out and you still can’t get the job you want or need?  Well, in my family’s case when I was a kid, my Mom got two part-time jobs while my Dad kept looking.  We had to eat.

Can Obama take credit for the 7.8% unemployment rate?  Only if he wants to take credit for cutting off the government’s new pseudo-welfare program of never ending unemployment benefit extensions and forcing some of the 47% to get off the government dole, even if it means flipping burgers for the King during the day and the Clown at night.  How does that sound for the narrative of Obama’s soon to be released “I fixed jobs” ad.

Actually, based on many of the revisions up from previous months, government jobs make up the majority of the growth.  How about that, they can work for the King and the Clown at the same time.  But of course this time I’m not referring to fast food chains.

But even the part-time job growth leaves many rightfully scratching their heads.  Did unemployment really just have its biggest one month drop since 1983?  If the economy is really about to come roaring back, why did Bernanke just promise QE-Infinity where he prints $40 billion a month to pump job growth?  Perhaps Bernanke is a terrible economist and should be canned.

Well, there is one more discrepancy to be mentioned in this jobs report.  The 7.8% rate is based on two surveys.  The Establishment Survey asks 390,000+ businesses about their hiring and extrapolates a national figure based on that.  The Household Survey asks 50,000 households if they are employed, searching, or gave up looking.  The Establishment Survey gave us the 114,000 job number.

The Household Survey indicated that 873,000 more people are employed.  That’s a little bit of a variance.  So although the surge in part-time/temporary hires certainly makes sense, the 7.8% figure is still suspect.

Job Numbers Leave Americans Waiting for that Promised Summer of Recovery

 Bookmark and Share In 2010, Americans were told that they were about to experience the Summer of Recovery, a season in which the American economy was going to turn around because of all the taxpayer funded, federal deficit spending that the President’s stimulus program was going to pump into our economy.  Instead, what they got was a summer filled with scenes of oil being pumped into the Gulf of Mexico as the largest oil spill in our nation’s history unfolded for months.  Instead of seeing any significant job creation and economic growth, all we really saw was an Obama Administration which was hindering the attempts of Gulf Coast Governors like Bobby Jindal from protecting their state’s shores from the incoming flow of oil that relentlessly gushed out of a BP oil rig which the Obama Administration had recently issued a safety award to.

At that time, as the Obama Administration sat by and helplessly watched 53,000 barrelsof oil a day flow into the Gulf for three months, the July unemployment rate stood at 9.5% and private sector payroll employment increased by 71,000, a figure which was 12,000 fewer than the number of new private sector jobs gained in the previous month.   These numbers were far from what we needed to just keep up with population growth and it was further evidence of just how much trouble our stagnant economy was in.

Two years later and as the August 2012 unemployment numbers reveal themselves, we find that since 2010, the employment situationn has indeed improved sine then .  Whereas; in July of 2010 it stood at 9.5%, in July of 2012 it stands at 8.3%. and while that may sound good, it’s actually horrible.  It means that in two years, while the actual employment rate has improved, the unemployment outlook has gotten worse.   In two, years the unemployment rate has dropped an average of 0.05% a month. That’s 0.849% less than the average monthly population growth rate which is 0.899%.

It is also important to note that while 8.3% is better than the 9.5% that we were at two years ago, it is still worse than the 8.2% unemploment rate we had last month.   So not only is the current rate of employment unable to keep pace with population growth, it is getting worse as we now find ourselves with 42 consecutive months of unemployment rates in excess of 8.0%.  And while the President and his liberal colleagues in the House and Senate will defend their record on jobs by touting misleading lines indicating that the number of jobs in America increased for each of the past 24 months, what they will continue fail to point out is that there are still 316,000 fewer Americans working now then there were in January of 2009 when President Obama took office.

While these figures are, to say the least alarming, the President and his Party continue to argue that things are getting better.  Unfortunately, that is far from the truth.

The latest jobs report indicates that 23 million people,  1 out of 7 Americans, have given up and dropped out of the workforce, are working temporary jobs because they can’t find full time work, or are unemployed but still looking for work.  A total of 12.8 million people fall into the latter category.

This is not an economic recovery.  It’s an economic disaster and it is being perpetuated by such factors as the looming Obamacare regulations that are slowly taking effect, and liberal initiatives that seek to increase taxes by refusing to extend Bush era tax cuts to all Americans.  All of this is creating a degree of uncertainty that holds back growth in the private sector.

The bottom line is that these latest jobs numbers prove that our nation is in desperate need of change of course.  It is quite obvious that the liberal tax and spend policies which have failed us in the past, are failing us in the present,  and give us no reason to believe that they will work in the future.  That means President Obama must go.

Of course the left will deny such claims.  They will offer ludicrous and delusional assessments of different aspects of the Obama tax and spend policies which unconvincingly argue that America is headed in the right direction.  As seen in the video below, as the 2012 election approaches Democrats will say anything to deny the reality of what is now the worst recovery in history.  But as they try to deny that this so-called recovery is too slow to make a difference, most Americans, especially the 23 million who are denied full employment, are understanding that the problem is not that the recovery is too slow, they realize that it is non-existent.

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