Obama Failure: Unemployment and the Destruction of a Country (USA)--Data Analysis

Let us look at the unemployment statistics (unemployment rate) since about last July (when the economy and unemployment rate first stabilized, before any Democrat "stimulus" had any chance to have any effect): 9.5%, 9.4%, 9.8%, 10.2%, 10%, 10%, 9.7% (as formula "adjusted" at beginning of year), 9.7%.


That is the month-by-month unemployment rate for the past EIGHT months. You will remember that the mainstream media, and their "economists", proclaimed that the drop in the unemployment rate seven months ago, from 9.5% to 9.4%, showed that the job market was "turning around". In this case, the numbers don't lie. The job market has not improved in EIGHT MONTHS. As I have been saying for almost all of that time, correctly, what we have been doing is "bumping along the bottom"--not improving but not getting substantially worse.


That is, we are not getting substantially worse as far as the labor market and the economy are concerned. We ARE getting substantially worse as far as our POSITION is concerned. That is because we have nearly BANKRUPTED ourselves as a country, for NOTHING. We have spent more than 1 TRILLION dollars in WASTED "stimulus"--along with other extra spending, and we are committing ourselves to deficits of more than 1 TRILLION dollars for as far as the eye can see--1.5 trillion for the next fiscal year alone. We have built ourselves a hole we may not be able to dig out of, and accomplished no more than if we had done NOTHING (probably less). Note that this is entirely apart from the "bailouts" and what the Fed has done, in an attempt to keep our financial system from "collapsing". That was not a good idea either, but does not justify the FAILED government spending under any circumstances.


Look at the other numbers. We lost 36,000 jobs in February. That is UP from 20,000 jobs LOST in January. There were 83,000 or so jobs lost in December. Oh, yes, the number stayed the same in November--a nominal gain of 4,000 jobs. In other words, those numbers showed that the job situation reached its high water mark in NOVEMBER--not a very high water mark, at that--and has DETERIORATED since then (three months ago).


Then look at the jobless claims--the numbers for new unemployment claims (a measure of layoffs). Those numbers have not improved in about 4 months (confirming the jobs lost numbers and the lack of improvement in the unemployment rate). The AVERAGE for December (average weekly new unemployment claims) was about 455,000. For January, the AVERAGE was about 466,000. The February average number, with one week to go, is already certain to be HIGHER than January.


Thus, the numbers show a job market that has STALLED. Meanwhile, inflation is heating up. What does this add up to? If you remember the Carter years--which resulted in the last severe recession at the beginning of the much better Reagan years--there is such a thing as STAGFLATION. That is where you have inflation without growth. The last inflation numbers indicated an annualized inflation rate of 15%. While that was mainly because of the "volatile" food and energy prices, you do have to pay for food and energy. It is likely that the true inflation rate is not quite that high,--maybe not even close to that high, as the "core" rate--excluding food and energy--would indicate. But if nay "recovery" were to start to take off, the inflation rate is likely to EXPLODE. That will promptly shut down any "recovery".


All in all, despite Obama promises, the economy--and especially the job market--remains in BAD shape, even after we have bankrupted the country based on Obama's promises. Nor is it ture that Obama has had only "one year". In many ways, the Obama policies have been in effect since the election of 2006, when Democrats took control of Congress (Obama being one of those Democrats who voted FOR most of the policies of the last Bush years). Certainly, Obama/Democrat policies have been in effect since the beginning of 2008. Remember the FIRST "stimulus" bill: the Bush/Democrat bill about this time in 2008? Of course, Obama strongly supported the Bush BAILOUTS, and the vigorous attempts by the Federal Reserve to pump money into the economy (and conduct bailouts of its own).

Nope. We have been on this spending/bailout path for at least two years, and we have basically been following Obama policies since the Democrat takeover of Congress. If you consider the BETRAYL of the Republican Party under Bush--with its own out-of-control spending, although Obama has taken it to a new level---we have been following a policy of unrestrained spending this entire century (only, of course, a decade old).


The situation is not good, and Obama wants to make it much worse with a massive government takeover of health care--as he FAILS to focus "like a laser beam" on jobs.