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Obama is crowing about 8.3% unemployment while REAL unemployment is at 17%!

Ken 2012/02/05 01:13:14
Let's hope Obama ends up "eating crow", not crowing, come November!
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IBD Editorials







As Obama Crows, Real Story Is 10.5 Mil Jobs Deficit





Posted 02/03/2012 07:02 PM ET






Jobs:
Of course it's good news that 243,000 new jobs were created in January,
shaving the unemployment rate to 8.3%. But thanks to massive policy
errors by the White House, we're still way below where we should be.


President Obama, speaking in Arlington, Va., immediately took credit
for the bullish report, crowing that "altogether, we've added 3.7
million new jobs over the last 23 months."


The president went on to say: "We can't go back to the policies that
led to the recession. And we can't let Washington stand in the way of
our recovery."


"Our" recovery? And "We can't go back to the policies that led to the
recession"? The cause of the recession was, in fact, housing policies
put in place by President Clinton and aggressively supported by
Democrats in Congress, including former Sen. Barack Obama.


How soon we forget. These were the policies that led to the housing
meltdown, the financial crisis and, ultimately, the deep recession we're
still climbing out of.


Yet Obama's "blame Bush" theme will be the Democrats' strategy for the 2012 campaign. So get used to it.


Truth is, by now we should have created millions more jobs than we
have. But Obama's $836 billion stimulus, his botched industry bailouts,
his failed "green" energy policies, his regulatory siege on business,
and his disastrous attacks on Wall Street and entrepreneurs have made
this the worst recovery in history.


The recovery began in June 2009, just months after Obama took office and before his stimulus took effect.


According
to data from the Federal Reserve Bank of Minneapolis, the economy is
just 0.7% above its previous high. Usually at this point in an
expansion, it's 13.5% above the last peak. In other words, thanks to
Obama's policies, we're missing about $1.8 trillion in GDP — or roughly
$5,760 for every man, woman and child.


Far worse for most Americans is the jobs depression that has
accompanied Obamanomics. As the chart shows, we've suffered a jobs
implosion greater than any since World War II.


Obama likes to blame his predecessor for this. And true enough, 4.4
million jobs disappeared during the 2007-08 panic. But after Obama took
office, an additional 4.3 million jobs disappeared. So when Obama says
"we've added 3.7 million new jobs," he's not giving you the full story.


We are still 5.6 million jobs below where we were at the peak in
2007. Add to that the 4.9 million new jobs that would have had to be
created just to soak up new entrants into the workforce, and all told we
have a jobs deficit of 10.5 million.


As for the 8.3% jobless rate, remember this: The month he entered
office, Obama's advisers vowed unemployment would remain below 8% if we
passed his stimulus. Congress did as he asked, and unemployment promptly
surged above 10%.


The 8.3% number is a mirage. In fact, unemployment rate is declining
in large part because millions of people have given up hope and left the
workforce. Last month alone, they totaled 1.2 million.


Since Obama took office, 4.7 million people have stopped looking for
work. Add them in, and the real unemployment rate suddenly doesn't look
so good: 11%.


And when you add up the 12.7 million unemployed, the 4.7 million no
longer looking for work and the 10.5 million who can't find full-time
positions, that's 28 million people — for a jobless rate of 17%
.


Hardly something to crow about.

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Top Opinion

  • Steve J~PWCM~JLA 2012/02/05 02:04:35
    Let's hope Obama ends up "eating crow", not crowing, come November!
    Steve J~PWCM~JLA
    +9
    With 1.1% GDP coming, that means a double dip, not a double term is coming.

    Toss in the EU and he is burnt toast.

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  • The Birdman ~ PWCM~JLA 2012/02/07 11:55:41
    Let's hope Obama ends up "eating crow", not crowing, come November!
    The Birdman ~ PWCM~JLA
    +2
    Bozo is a liar, from day one and on!
    liar obama
  • wtw 2012/02/06 02:32:26
    Let's hope Obama ends up "eating crow", not crowing, come November!
    wtw
    +3
    If Obama does not eat crow after 4 more years of deficit spending and more debt in 8 years than all other presidents combined before him we the american people will be in deep ship!
  • PoliticallyIncorrect 2012/02/06 01:42:20
    Other (please leave a comment)
    PoliticallyIncorrect
    +2
    You had to mention crow. THAT is way too easy. Obamass is feeding his typical spin and outright lies to a brainwashed constituency who are still patting themselves on the back for electing a black man. With all of the intelligent and savvy black men and women out there who were available, why this Liar-in-Chief was able to con so many people just proves with enough money you can sell a pig's ear like this arrogant and totally self-absorbed, anti-American bum to the masses.
  • nails 2012/02/06 00:24:49 (edited)
    Other (please leave a comment)
    nails
    +2
    What an ingenious the Anti-One is.Let's put his economic genious to task.You take a crew of Ten

    men.You lay off Five.you give the rest Two years unemployement check's.After a degrading

    Two years you promise them free health care and food stamps that will subsidize your

    nothing of an acheievement.Now the honest money the've earned and saved,till this One

    came along is for a better word -GONE-.Now you,re property is nearly worthless.So now

    we've come to raise the taxes on those who earned their homes to Anti-Up.They need a home and a place to live the never earned---for almost free,believe me when,I say to you .Certain groups

    never,never,ever are held responsable for anything.So now it's time to forcibilty hire an

    unskilled worker,or else.Great plan,man from jungle.Now theirs a mirical somone added the nothing's ever degrading America.
  • jackolantyrn356 2012/02/05 23:36:21
    Let's hope Obama ends up "eating crow", not crowing, come November!
    jackolantyrn356
    +1
    His Arrogance is amazing. and astounding/ The big thing is can he keep this sake going and not depleting th Tax bucket again.
  • Cliff 2012/02/05 22:31:31
    Other (please leave a comment)
    Cliff
    +1
    Any improvement comes in spite of Obama's policies, not because of them.
  • joe ramirez 2012/02/05 20:49:03
    Other (please leave a comment)
    joe ramirez
    +1
    Most americans probably believe his lies and the medias lies! You heard the saying,"tell a lie long enough and you will believe it!"
  • Bob S 2012/02/05 19:49:54
    Other (please leave a comment)
    Bob S
    +1
    He raves about many things so he can change the subject from the leadership he has failed to give.
  • 4570GOVT 2012/02/05 18:40:01
    Let's hope Obama ends up "eating crow", not crowing, come November!
    4570GOVT
    +3
    Obama is a FRAUD and so are his " numbers " ..................... WTF ?
  • 4570GOVT 4570GOVT 2012/02/05 18:40:27
    4570GOVT
    +3
    READ THEM ALL
    AND REMEMBER!*

    First President to apply for college aid as a
    foreign student, then deny he was a foreigner.

    First President to
    have a social security number from a state he has never lived
    in.

    First President to preside over a cut to the credit
    rating of the United States .

    First President to violate the
    War Powers Act.

    First President to be held in contempt of
    court for illegally obstructing oil drilling in the Gulf of Mexico
    .

    First President to defy a Federal Judges court order to
    cease implementing the Health Care Reform Law.

    First
    President to require all Americans to purchase a product from a third
    party.

    First President to spend a trillion dollars on
    shovel-ready jobs and later admit there was no such thing as shovel-ready
    jobs.

    First President to abrogate bankruptcy law to turn over
    control of companies to his union supporters.

    First President
    to by-pass Congress and implement the Dream Act through executive
    fiat.

    First President to order a secret amnesty program that
    stopped the deportation of illegal immigrants across the U.S. , including
    those with criminal convictions.

    First President to demand a
    company hand-over $20 billion to one of his political
    appointees.

    First President to terminate Americas ability to
    put a man in space.

    First President to encourage racial
    discrimination and int...











































































    READ THEM ALL
    AND REMEMBER!*

    First President to apply for college aid as a
    foreign student, then deny he was a foreigner.

    First President to
    have a social security number from a state he has never lived
    in.

    First President to preside over a cut to the credit
    rating of the United States .

    First President to violate the
    War Powers Act.

    First President to be held in contempt of
    court for illegally obstructing oil drilling in the Gulf of Mexico
    .

    First President to defy a Federal Judges court order to
    cease implementing the Health Care Reform Law.

    First
    President to require all Americans to purchase a product from a third
    party.

    First President to spend a trillion dollars on
    shovel-ready jobs and later admit there was no such thing as shovel-ready
    jobs.

    First President to abrogate bankruptcy law to turn over
    control of companies to his union supporters.

    First President
    to by-pass Congress and implement the Dream Act through executive
    fiat.

    First President to order a secret amnesty program that
    stopped the deportation of illegal immigrants across the U.S. , including
    those with criminal convictions.

    First President to demand a
    company hand-over $20 billion to one of his political
    appointees.

    First President to terminate Americas ability to
    put a man in space.

    First President to encourage racial
    discrimination and intimidation at polling places.

    First President to have a law signed by
    an auto-pen without being present.

    First President to
    arbitrarily declare an existing law unconstitutional and refuse to enforce
    it.

    First President to threaten insurance companies if they
    publicly speak-out on the reasons for their rate
    increases.

    First President to tell a major manufacturing
    company in which state they are allowed to locate a
    factory.

    First President to file lawsuits against the states
    he swore an oath to protect (AZ, WI, OH, IN)

    First President
    to withdraw an existing coal permit that had been properly issued years
    ago.

    First President to fire an inspector general of
    Ameri-corps for catching one of his friends in a corruption
    case.

    First President to appoint 45 Czars to replace elected
    officials in his office.

    First President to golf 73 separate
    times in his first two and a half years in office.

    First
    President to hide his medical, educational and travel
    records.

    First President to win a Nobel Peace Prize for doing
    NOTHING to earn it.

    First President to coddle American
    enemies while alienating Americas allies.

    First President to
    publicly bow to Americas enemies while refusing to salute the U.S.
    Flag.

    First President to go on multiple global apology
    tours.

    First President to go on 17 lavish vacations,
    including date nights and Wednesday evening White House parties for his
    friends, paid for by the taxpayer.

    First President to refuse
    to wear the U.S. Flag lapel pin.

    First President to have 22
    personal servants (taxpayer funded) for his wife.

    First
    President to keep a dog trainer on retainer for $102,000.00 a year at
    taxpayer expense.

    First President to repeat the Holy Qur'an tells
    us, and openly admit that to him, the early morning call of the Azan
    (Islamic call to worship) is the most beautiful sound on
    earth.

    First President to take a 17 day vacation.

    Remember
    that after 32 months of Obama White House we the people have accumulated
    national debt more than 27 times as fast as during the rest of our
    nation's entire history, as the Obama's plan their next extravagant
    vacation to the Indonesian Island nation of Bali.
    (more)
  • StarWarsBob 2012/02/05 18:27:52
    Other (please leave a comment)
    StarWarsBob
    +4
    It's nice to have charts and projections, but one should look at how the unemployment number is obtained on a monthly basis.
    http://www.bls.gov/cps/cps_ht...
  • Romanknite 2012/02/05 16:54:04
    Other (please leave a comment)
    Romanknite
    +4
    These far right wingers folks are a total trip. They will blame Obama for anything that goes wrong, but the positive things that happens to help this economy they're afraid to admit and give him the credit he deserves. For instants, the bounce back of the auto companies- far right hated it, The take down of Bin Laden and a few more - far right hated it, Unemployment dropping to 8.3 not all that good but better - far right hated it, If Obama got this country running back up at a 100% - far right would hate it. Them being like that is why I believe it is more about Obama than his policies.
  • WhereIs... Romanknite 2012/02/05 17:02:04
    WhereIsAmerica? ~PWCM~JLA
    +2
    From my perspective (as an Independent) it is you brainwashed liberals that are a total trip, to a 3rd world nation, and I DON'T want to go!
  • Romanknite WhereIs... 2012/02/05 17:34:06
    Romanknite
    +2
    I don't either...So should I turn to the republicans?
  • Bob S Romanknite 2012/02/05 19:51:42
    Bob S
    +1
    Whatever you think best.
  • Bob S Romanknite 2012/02/06 17:57:13
    Bob S
    +1
    Maybe?????
  • Romanknite Bob S 2012/02/06 21:01:41
    Romanknite
    +1
    Then help me out, and tell me your reasons why.
  • WhereIs... Romanknite 2012/02/07 23:25:20 (edited)
    WhereIsAmerica? ~PWCM~JLA
    +2
    ABO, at least the Republicans are not Socialists, and once done good luck getting it un-done!
  • Romanknite WhereIs... 2012/02/08 00:56:23
    Romanknite
    I don't believe Obama is a socialist, but I do know that most republicans are far more worst, they're very unpatriotic, and they don't care about the people, well, maybe if you're rich they may show you some love.
  • Ken Romanknite 2012/02/09 05:26:17
    Ken
    Obama isn't a socialist?
    His father was a Marxist; his mother was known as a "fellow traveler" (meaning someone who agrees with communists); "mentor" in his teens he named in his book, Frank, turned out to be Frank Marshall, a card-carrying member of the Communist Party USA at a time they took orders from Moscow; the woman who preceeded him in his Illinois state senator seat, and who endorsed him when she left to run for the U.S. House of Representatives, Alice Palmer, was a Communist who attended the Communist Party congress in Moscow; "the best education I ever got" (Obama's words) was his training in the methods of the radical socialist Saul Alinsky as a community organizer; he was claimed by the "New Party" of Chicago, a party formed by former members of the Socialist Party USA, as one of its own.
    ObamaNewParty

    On second thought, maybe you're right, he could be a communist.
  • Romanknite Ken 2012/02/09 14:19:37
    Romanknite
    Yall folks are funny.
  • Ken Romanknite 2012/02/11 06:11:11
    Ken
    I'm glad you see the humor in it.
  • Brendan... WhereIs... 2012/02/05 18:08:01
    Brendan Mcdonald
    Don't sound very Independent to me...
  • Ken Brendan... 2012/02/05 20:48:12
    Ken
    +1
    So an independent can't be a conservative?
  • WhereIs... Ken 2012/02/07 23:27:41 (edited)
    WhereIsAmerica? ~PWCM~JLA
    +1
    If you read my posts around this place, you will see I am mainly a fiscal conservative, which is another reason I really can't stand Obama.
  • Ken WhereIs... 2012/02/09 05:27:29
    Ken
    I didn't think you weren't a conservative, and anyone who is a fiscal conservative has to dislike Obama.
  • WhereIs... Brendan... 2012/02/07 23:27:05
    WhereIsAmerica? ~PWCM~JLA
    +1
    Why, because I recognize a Socialist President when I see one? I have not had a party affiliation for many years, and I even used to vote for Democrats, but then you were taken over by Socialists...end of story.
  • Bob S Romanknite 2012/02/05 19:51:21
    Bob S
    +1
    How fast did his poll numbers jump with the above mentioned deeds? In fact they didn't go far or for very long.
  • Ken Romanknite 2012/02/05 20:47:18
    Ken
    The take down of bin Laden was due almost exclusively to intelligence obtained by the Bush administration's "harsh interrogation techniques", for which Obama's A.G., Eric Holder, threatened to prosecuted the CIA officers involved.
  • Romanknite Ken 2012/02/06 12:17:56
    Romanknite
    So what you're saying is that the credit for taken down Osama should go to G.W.Bush, even though he gave up looking for Bin, is this what you are saying?
  • Bob S Romanknite 2012/02/06 17:57:53
    Bob S
    No, but your saying it...
  • Romanknite Bob S 2012/02/06 21:02:56
    Romanknite
    I don't think Jr. should get any credit.
  • Ken Romanknite 2012/02/06 22:05:10
    Ken
    +2
    In case you can't understand plain English, I'll say it again - if it weren't for the Bush administration's "enhanced interrogation techniques", for which the Obama administration threatened to prosecute the CIA officers involved, Osama bin Laden would never have been found and killed - even Obama's CIA head at the time, Leon Panetta, admitted that fact. Draw your own conclusions as to whom you want to give credit to.
    http://www.telegraph.co.uk/ne...
  • WhereIsAmerica? ~PWCM~JLA 2012/02/05 16:53:41
    Let's hope Obama ends up "eating crow", not crowing, come November!
    WhereIsAmerica? ~PWCM~JLA
    +2
    Between December 2011 and January 2012, the number of Americans "not in the labor force" increased by a whopping 1.2 million. That was the largest increase ever in that category for a single month. That is how the federal government is getting the unemployment rate to go down. The government is simply pretending that huge numbers of unemployed Americans don't want to be part of the labor force anymore.

    In reality, the percentage of men and women in the United States that would like to have jobs is almost certainly about the same as it was back in 2007 or 2008. There has been no major social change that would cause large numbers of men or women to want to give up their careers. So there is something very, very fishy with this chart....

    2008 major social change large numbers women careers fishy chart

    The federal government has been pretending that millions of unemployed Americans have decided that they simply do not want jobs anymore.

    This does not make sense at all.

    http://theeconomiccollapseblo...
  • Bob S WhereIs... 2012/02/05 19:52:40
    Bob S
    +2
    Whoa my friend...he'll turn the crow into phesant under glass at the taxpayers expense.
  • Ken Bob S 2012/02/05 20:52:06
    Ken
    +1
    Along with some lobster hors d'ouvres. Obama hotel lobster and champagne
  • Brendan... Ken 2012/02/05 21:04:27
    Brendan Mcdonald
    What's your point?
  • Ken WhereIs... 2012/02/05 20:51:03
    Ken
    +1
    Great points! That point is also made in the IBD editorial - the alleged decrease in the unemployment rate is due to fewer workers looking for jobs, it is not due to all of the new jobs Obama's brilliant policies are creating.
  • Swany 2012/02/05 16:17:48
    Other (please leave a comment)
    Swany
    Obama is a liar and the slickest con artist to have ever (so far) occupied the WH. Yet. he is a 1000 times better than Romney. vampire romney not mitt
  • WhereIs... Swany 2012/02/05 16:56:46
    WhereIsAmerica? ~PWCM~JLA
    +2
    No, Obama is NOT better than Romney, because Obama is a Marxist that will end the country we know and love, and turn it into a Socialist hellhole. Romney has his faults, but none come even close to being somebody like Obama who will purposefully bury us in debt even up to the point of economic collapse, and make as many citizens as possible dependent on the government (so that they can control those dependents).

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