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.
Obama is crowing about 8.3% unemployment while REAL unemployment is at 17%!
Ken
2012/02/05 01:13:14
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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.
Top Opinion
-
Steve J~PWCM~JLA 2012/02/05 02:04:35
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.
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...
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.
http://www.bls.gov/cps/cps_ht...
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.
On second thought, maybe you're right, he could be a communist.
http://www.telegraph.co.uk/ne...
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....
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...