Voodoo Economics and Unemployment
Ninety-two million Americans are unemployed yet the spin
masters are telling voters with a straight face that the economy is recovering
nicely. The much touted 6.7 percent (U-3) unemployment rate has dropped again
miraculously in December thanks to voodoo economics and statistics that totally
discount millions of discouraged workers who have dropped out the labor force
and stopped looking for work.
If Americans out of the labor force are counted, the
unemployed rate is the U-6 reported by the Bureau of Labor Statistics,
approximately 13 percent. The civilian labor force participation also dropped
to 62.8 percent.
The question nobody is asking is, if the unemployment
rate is dropping and things are so rosy, why are Democrats asking for a
three-month extension on unemployment benefits? In a normal world, it would
seem logical that these people should go back to work.
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