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Unemployment In Barack Obama's Economy - The Masters Of Disaster
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by Edmund Jenks | July 8, 2011 at 09:02 pm
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Unemployment In Barack Obama's Economy - The Masters Of Disaster
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Unemployment In Barack Obama's Economy - The Masters Of Disaster
Today, the government's reporting of the June 2011 unemployment numbers came out. As always, the mainstream media, who blatantly support our current political leadership, reports these numbers out as ... unexpected, well below economists' expectations, a continuing "soft patch", and a disappointing downturn.
The fact of the matter is that this jobs report of only 18,000 new jobs created in an economy where just to keep up with population increases needs to add 150,000 per month and to start to recover back to the levels of unemployment set to before this economic downturn (and get it back within five years) of 350,000 jobs in the private sector per month. Of course the government constantly under reports these numbers so it could be less than the 18,000. The growth of 54,000 jobs previously reported for May 2011 was revised down today to just 25,000. Using this habit of softening the ugly blow of FAILURE through under-reporting, the numbers released today may be revised even more downward to about 8,500 or so.
In the first ever Twitter Town Hall at the White House, President Obama answers your questions (of 140 characters or less) on jobs and the economy and asks for your feedback on reducing the deficit. Image Credit: whitehouse.gov
This excerpted and edited from The Los Angeles Times -
Dismal jobs report shows unemployment rising to 9.2%
July 8, 2011 | 6:19 am
The U.S. employment picture went from bad to ugly last month as employers added almost no new net jobs and the unemployment rate edged up for the third straight month, to 9.2%.
The report Friday from the Labor Department is sure to be a huge disappointment and will raise fresh questions about the sustainability of the recovery, now technically starting its third year.
Analysts had raised their job-growth forecasts for June to 100,000 or more in recent days, hopeful of a rebound after surprisingly few job gains in May, which many attributed to temporary factors such as Japan's earthquake and the spike in oil prices.
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The unemployment rate, meanwhile, ticked up to 9.2 from 9.1% in the previous month and this year’s low of 8.8% in March. Many thousands of people in June dropped out of the labor force, some presumably because of the discouraging outlook.
Friday’s jobs report was remarkable in that there was nothing positive in it.
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Even for those with jobs in June, there was bad news. The average weekly work hours declined by 0.1 to 34.3. And the average hourly earnings for all private-sector employees dropped by one cent to $22.99.
"It's just an across-the-board retreat," said Heidi Shierholz, a labor economist at the Economic Policy Institute. So bad was the report, she found it hard to describe it and its portent for the future. "This is two months of really scary reports."
[Reference Here]
Of course, Obama adviser David Plouffe said that two days before the June jobs report was released that economists anticipate 100,000 or 125,000 jobs to be added that month. After hearing the 18,000 number, Plouffe claimed (as quoted by Bloomberg), "The average American does not view the economy through the prism of GDP or unemployment rates or even month jobs numbers."
"People won't vote based on the unemployment rate 
- How do I feel about my own situation? Do I believe the president makes decisions based on me and my family'," Plouffe continued.
Austan Goolsbee, chairman of the White House Council of Economic Advisers, said in a recent interview on Bloomberg TV, “We want to be for any policies that are going to help incentivize and stand up the private sector to drive the recovery.”
I have a suggestion to Masters Goolsbee, Obama, and Plouffe, why don't we get the weight of the Government to "Stand Down" so that the private sector can "Stand Up" and begin to create the recovery from the overbearing socialist agenda this 44th Presidency has implemented since taking office Jan. 20, 2009.
Barack Obama, David Plouffe, and Austin Goolsbee are just the beginning in the naming of the economic masters of disaster in this era of United States economic failure here in Carter's Second Term.
(Article first published as Unemployment In Barack Obama's Economy - The Masters Of Disaster on Technorati)
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Edmund Jenks
Los Angeles, California, United States
Most RecentMost Recommended Comments (15)
at 01:00 on July 9th, 2011
HE IS INSULTING OUR HOLY EMPEROR!GUARDS! SEIZE HIM!
at 05:36 on July 9th, 2011
government must create more job opportunities, it is their responsiblity.www.dootar.com/
at 06:00 on July 9th, 2011
Can you believe it ... Canada, yes, Canada added more jobs than the Obama Administration and its policies were able to add this month. Canada has only 30M mouths to feed - the USA has about 315M mouths. Also, May Jobs revised downward from 54k to 25k ... over a 100% inflation adjustment!!! These people, the Barack Obama Government, just love lying to the American people, the people they claim to serve.
at 06:25 on July 9th, 2011
'Unemployment In Barack Obama's Economy - The Masters Of Disaster'
Don't think that will be used as any campaign slogan in the Obama camp Ed..lol
I guess what people quickly tend to forget is how devastated the last Republican Administration left our economy. That this slow recovery really isn't about President Obama's Administrations policies. That the long term effect of totally manipulated financial and housing markets_and business objectives, left not only America but the global economy in near complete disaster and ruin. Many other countries economies are still recovering from this near global financial meltdown also. It took over ten years to recovery from the great depression in the 1930's. I don't believe this recovery will happen overnight or in two or three years either. This will take time and a careful long term debt management.
at 06:35 on July 9th, 2011
1, it's not forgetfulness. It's called selective memory.
at 07:47 on July 9th, 2011
In the last six years we have had a 20% increase in overall revenues (the most collected in the nation's history) while we have had an increase of 60% in overall spending. The selective nature of the left is that no Government can be large enough for their appetite to control to be satisfied. Government spending has never caused a nations economy to become growth oriented and successful - EVER.
These facts of FAILURE are astonishing, and yet you call what we are looking at concerns itself with ... selective memory. I have never heard of an American economy that is here to support over 300 million souls develop only 18,000 jobs in a month where it takes 150,000 to just keep up with population growth.
at 12:03 on July 9th, 2011
This recent increase in government spending I don't believe was out of choice. After the great depression similar government spending was necessary to revive business, financial markets, and help create healthier job markets. This recent severe downturn also saw global markets falter requiring additional expenditures. Not to mention the expense of current and ongoing U.S. military action in several regions of the globe.
Personally, I don't believe a "bigger government" is President Obama's aim here.
at 13:27 on July 9th, 2011
S-P-E-N-D-I-N-G is always a choice. It did not work during the Great Depression, and it is proving itself as not working now. I'd say a 125% increase in the size of the EPA since Jan. 2009 alone flies in the face of your last statement, All Government, all the time IS the goal of the progressive, control-freak left!
at 14:33 on July 9th, 2011
'Following on April’s budget agreement, the Environmental Protection Agency is again a major target, and the reduced $7.15 billion EPA funding would mean a $1.53 billion or 18 percent cut from current spending, much of which would come at the expense of clean water programs.'
'EPA Funding Cuts'..Politico
at 18:21 on July 9th, 2011
Thank you for making my point. EPA up 125% and then down 18% is S-T-I-L-L well over a 100% continued increase in the growth of a budget item in a purposely weakened economy (at only 2.5% growth, projected) through a major increase in Government spending across the board by the Obama Administration. Geeeez, get your perceptive senses out of your progressive garbage can, pah-lease.
Oh! We had clean water for these last few decades without this latest round of increases. We still are not a 3rd world country.
at 21:25 on July 9th, 2011
The EPA is not an example that I would say we could agree on in the context you suggest Ed. Sorry !
Maybe better understanding economic complexities of America's current financial and job stagnation would help clarify for you why Obama and his economic advisors are choosing the recovery path they are on.
Of interest:
http://www.reuters.com/article/2011/07/10/usa-debt-idUSN1E76808G20110710
at 06:35 on July 10th, 2011
The clearest example that you, and other like you who believe that there is no end to how BIG a Government can get - the last 6 years have seen the revenues/taxes collected flow into the Government at a 20% increase (in a 3-4% growth economy), the most monies collected in this nation's history, while at the same time the Government choose to increase spending at a 60% rate. This should be the only complexity anyone should be concerning themselves with - plain and simple.
The Government is ruining the economy through its insistence at applying its overbearing involvement in people's everyday lives. Government friction needs to be removed.
at 07:46 on July 10th, 2011
Ed, I don't believe as you have suggested, in bigger government. Never said I did. These problems are large, financially complex and expensive. Whether we agree or not, it's the American people's government who got us into this mess. We will, as responsible American people, and that America on a globe stage, need to find the solutions to our problems by correcting the inbalances of our government and obligations in unison. This current deep hole America has dug for itself, will take a minimum of twenty plus years just to get ourselves out of.
What you are referring to as 'bigger government' is our economy expanding to absorb and deal with this enormous debt, growth, and jobs issues in unison. It really isn't about just a 'bigger government'. It's more about a much larger debt obligation and continuing, at the same time, to grow America's economy in unison.
I will agree with you in one regard that substantial mistakes and over extending debt obligations have been made. But realize that this current massive debt and our specific government structure are integrated in such a way they can't be specifically separated as you suggest.
at 07:24 on July 9th, 2011
Don't you think he could have done better though? Nobody is denying that Bush was a shockingly bad president but surely it is Obama's place to improve things. And he isn't, is he?
Personally, I quite like the guy but I think this criticism is fair.
at 08:50 on July 11th, 2011
How to SAVE Medicare, Social Security, Medicaid, PBS, NPR and the military, defense and homeland security budgets while CUTTING government spending, debt and present tax rates without causing inflation or high interest rates:Create GOOD PAYING American JOBS with GOOD BENEFITS for American citizens by REPEALING ALL RETAIL SALES TAXES & replace the lost revenue with an IMPORT TAX/tariff on IMPORTED LABOR & MANUFACTURED GOODS. INCREASE the USA FEDERAL INCOME TAX STANDARD DEDUCTION from $5700 (2010) to $15000 for AMERICAN CITIZENS. INCREASE the INDIANA STATE EXEMPTION for non-dependent adults from $1000 to $5000; if disabled, increase to $10000. In addition, ALL AMERICAN CITIZENS over the age of 55 should have their TOTAL STATE EXEMPTIONS INCREASED from $1000 to $10000 and when they reach the age of 65, increase the exemption from $2000 to $15000; if their total federal AGI is less than $40,000. ALL standard deductions and exemptions should be adjusted for inflation. COLLECT a STATE EXPORT TAX on NATURAL RE-SOURCES/COMMODITIES such as coal, oil, natural gas & grains.REPEAL ALL Business & New Development/Construction TAX INCENTIVES such as tax abatement, tax increment financing, grants, deductions, credits, tax free bonds, earmarks and/or ANY other CORPORATE WELFARE that SHIFTS Business & New Development & Construction COSTS & TAXES (without IMPACT FEES) to other taxpayers that EXPORT AMERICAN JOBS to foreign countries and/or that create POVERTY WAGE AMERICAN JOBS. OR, require these Corporate Welfare KINGS & their Businesses & New Development & Construction to pay a LIVING WAGE, MINIMUM WAGE of $15/hour with good benefits (parent and one child; and adjusted for inflation). COLLECT MANDATORY IMPACT FEES (IN code: 36-7-4-1300, only infrastructure today); but, expand the code to collect impact fees for schools, libraries, parks, police and fire.Where are the TEA PARTY endorsements for these strategies?