Why does Obama hate the Middle Class so much?
Since Obama and the Democrats have taken over the leadership of our country, the Debt has grown by by 43%, the price of a gallon of gas is up over 80%. And worse of all is employment. Why does Obama & Co. continue to lie and deceive?
The truth, though, is the job climate in America is miserable.
While the media and the administration portray the most recent jobs number — 8.3% unemployment — as good economic news, more sober minds understand what's really going on. The facts show a jobs slump that should not get an incumbent president re-elected.
Sure, the jobless rate is falling. But according to the Congressional Budget Office, we are going through the longest stretch of high unemployment since the Depression. The rate has been higher than 8% since February 2009, the month after Obama took office.
And, says the CBO, it is expected to stay above 8% through 2014.
Even worse for an administration straining to make the case that it deserves to be around for another four years is the real unemployment rate. It's not 8.3%, but closer to 15%, a figure that reflects those who "would like to work but have not searched for a job in the past four weeks as well as those who are working part time but would prefer full-time work," says the CBO.
Another White House problem comes from this in the CBO report: "The share of unemployed people looking for work for more than six months — referred to as the long-term unemployed — topped 40% in December 2009 for the first time since 1948, when such data began to be collected; it has remained above that level ever since."
The CBO data aren't isolated. Gallup reports that its unemployment rate based on weekly surveys stands at 9%, while underemployment is at a hefty 19%.
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