The Real Unemployment Story

The White House has been celebrating that the unemployment rate fell to 9.7% even though it was because 1.1 million Americans have quit looking for work. Every time I see the affirmative action dolt on television I just cringe at his stupidity. I mean if the dude is smart enough to figure out Bush set him up for failure with three bail outs why did he do the fourth and now a fifth? Of course the answer is his head doesn’t have an original thought in it unlike Bill Clinton who knew bull crap when he saw it. But anyway what is the real employment picture.

Non-Farm Payroll Not Seasonally Adjusted

Total non farm payroll (not seasonally adjusted) went down from December (130,431) to January (127,612) or 2819 x 1,000 = 2,819,000 less workers in the economy IN ONE MONTH. The percent of the work force employed is 41.9% of the total population of 308,833,000. Compare that to December 2007 when 45.5% of the work force was employed in non farm jobs. The only sector of massive growth is government jobs. I am sure China is impressed with that number.

Weekly hours worked is down 3.5% since Obama was inaugurated. The civilian participation rate is down from 65.7% to 64.7% and drastically down from its five year high of 66.2%. So we lose 4 millions workers permanently, hey its good new to the White House. The Fed won’t even release the tax receipts numbers for October.

The bottom like is Greenspan set up Bush for his economic collapse with the bogus 1% Fed Funds rate during the housing bubble and Bush set up Obama with three bail outs that ballooned the deficit. Obama being the Harvard educated economic illiterate that he is just continued the same stupid policies of Bush not even thinking about it. By the time that fourth bail out came the peasants were ready for a rumble. And Obama walked right into the ambush.

Okay as the cliché goes fool me once. I am willing to give Obama some slack on the first “stimulus” plan. We all make rookie mistakes. But the idiot is too stupid to figure it out. He is a walking advertisement of why we need to end affirmative action in this country. Bill Clinton made similar mistakes with health care and the economy. But he learned, cut capital gains taxes, signed welfare reform, signed NAFTA and balanced the budget. Obama only knows what he read in books and that is redistribute the wealth, tax, spend, America is bad. The tape recorder is on a loop and he can’t shut it off.

Here’s a clue. Really freeze all federal spending except defense. Cut corporate taxes to 25%. Cut capital gains taxes to 10%. Extend the Bush tax cuts to 2013. Set up a commission to eliminate departments like education and housing and let the states deal with it. Stop bailing out states with “stimulus” money. They made their bed let them lie in it. But the 95 IQ affirmative action dolt will march off the cliff taking us idiots who voted for him with him. Where is Rudy Giuliani when you need him?