The worst thing abut Obama is not that he has failed to improve the job market, or that the "recovery" is failing (see news on Friday revising "growth"--all government--to only 2.7% for the first quarter, which was half of the previous quarter). The worst thing about Obama, and the Democrats in Congress, is that they have spent us into bankruptcy--making a real "recovery" impossible--for NO results.


I have chronicled for months that unemployment claims (new ones, indicating lost jobs) have NOT IMPROVED for over 6 months. And the unemployment rate has not improved for the entire Obama Presidency--not even improving substantially from its WORST levels.


Now ADP (the authority in this area) has reported that private sector payrolls "grew" by 13,000 in June (an average of 260 jobs per state, and really no growth at all as the number is well within the margin of error). This was "far less" than expected. Perpetually surprised economists, according to Marketwatch, had expected a 0,000 increase. Marketwatch called this "lame data".


Yesterday, a leading authority on "consumer confidence" reported confidence in the economy dropped from 62 to 52 in June--a HUGE drop. Economists (part of the Stupidest People on Earth) had predicted that number wuld be 62 (representing an index number showing consumer sentiment).


What has all of Obama's spending got us, besides what the CBO calls an "unsustainable" deficit and debut. Come to think of it, OBAMA has called it an "unsustainable" deficit and debt. I will answer the rhetorical question. It has gotten us NOTHING--less than nothing, in that we would have been much better off doing nothing.


No jobs. 13,000 was about 1/3 of the DISAPPOINTING number for last month. Indeed, temporary Census jobs are ending, or about to end. Thus, the prediction for the Friday government job report is for a big DECLINE in total jobs in June. The Federal Government has been the only source of real job growth, and that is ending.


Now the predictions for job losses in June may be overstated, so that it can be said that the loss reported is "less than expected". Doesn't matter--keep this in mind for Friday. The ADP report shows that the results are already in. Private employment is NOT GROWING. Nothing reported on Friday can change that, and the timing of loss of Census jobs is irrelevant. The headline news could be grim on Friday. Even if it is manipulated to not appear as grim "as predicted", you already know the real story.


Obama and the Democrats have failed. They are failing again and again. No amount of "spin" is going to change that, and yesterday's consumer confidence number shows that people are not being deceived.


P.S. Want to be further depressed? House sales are falling off of a cliff, as expected after the end of the government subsidy that has distorted previous figures. One in every three house sales (today's news) is now a foreclosure sale. Government can DISTORT numbers, and make them look momentarily good, but it has been proven again and again that government cannot run/"cure" the economy. Obama has proved it again. Obama has also proven that government can make the situation much worse, and that is what he and the Democrats have done.