Just three days after the official unemployment rate again rose, Obama uttered the following deluded statement, (hat tip to Infidel Bloggers Alliance):
Reality check:
President Obama signed the American Recovery and Reinvestment Act on Feb. 17 2009. His top economic adviser, Christina Romer, had reported that the act would prevent the national unemployment rate from reaching 8 percent.The stimulus did not do what it was supposed to do. Nevertheless, Obama scolds us and tells us it's time to "eat our peas." He willfully ignores the economic reality that, according to CBS News, today's chronic unemployment rates are the highest since the Great Depression.
About the real unemployment figures:
Merely counting those who apply for unemployment benefits as “unemployed” does not fully account for everyone who is out of work or underemployed.Time to rename the following "Obamaworld":
[...]
The total number of people who were truly unemployed in June was 25.3 million -- the 14.1 million who were unemployed, the 2.7 million who were marginally attached to the workforce and the 8.6 million who were underemployed.
Merely counting those who apply for unemployment benefits as “unemployed” does not fully account for everyone who is out of work or underemployed.
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This is common knowledge, or should be.
The U6 number is commonly reported. Although it's necessary to remind the inattentive that the U3 is distorted as people enter and leave the job hunt.
Meanwhile, there is a consensus that the stimulus, weak as it was, did prevent the jobless situation from becoming worse.
I guess the argument is that the wealthy create jobs and they should have their taxes lowered. Tinkle down theory, still the Republican mantra (Obummer's also).
ReplyDeleteNow, demand is down world wide and these creeps are controlling plenty of excess capacity. So in that environment they're going to hire, right? Wrong. Create a temporary commodities spike by creating excess inventory (be sure to game the futures market)?
Now a jerk like Glenn Beck or Rush Limbaugh may convince the fans in the Libertarian sandbox but we know supply side is nonsense, right?
Or if we tax the Street while they are creating all those fabulous new investment vehicles, they aren't going to loan to the guy who already has excess capacity so he can expand, right? Isn't that the argument?
But I'm not too worried. I listened to The Black Bush talk about the economy and he's ready to cave and depress demand even further so that all the guys have plenty of free chips for the Wall Street casinos. He was also steamed because "trade agreements" weren't being signed ... yup he wants it all to go offshore just like Chucklenuts.
He's Wall Street's dream. And the Street, no matter how much you complain, will do you raw.
It's a numbers game and unemployment is winning. No one wants to hire in Obama's uncertain Obamanomics.
ReplyDeleteMeanwhile, there is a consensus that the stimulus, weak as it was, did prevent the jobless situation from becoming worse....
ReplyDeleteAt the cost of how many trillion dollars? Your "consensus" is looking short-term. Long-term, it has made matters much, MUCH worse.
The people are beginning to turn on him slowly...The creep is definitely in the twilight zone.
ReplyDeleteDuck said: Merely counting those who apply for unemployment benefits as “unemployed” does not fully account for everyone who is out of work or underemployed.
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This is common knowledge, or should be.
I respond: Then why do we hear both Obama and Boehner quoting the 9.2% figure over and over again?
Duck,
ReplyDeleteBlame Reagan if you like. He's been out of office since 1989.
Meanwhile, there is a consensus that the stimulus, weak as it was, did prevent the jobless situation from becoming worse.
ReplyDeleteGood point - we must remember all of the jobs Obama "saved". First President in history to get credit for jobs saved.
Which brings me to my real point here:
Obama is saying this because the fringe media will pick it up and run with it. The MSM will repeat his claims (they won't actually be lying because it was Obama that said it) and the public will buy it.
Unfortunately Ducky not everyone is as brilliant as you, many believe what the media tell them. Forget the truth.
This is how Obama got credit for jobs saved. He spake it and the media spread the gospel.
In short, he's not divorced from reality, he knows damned well what he is saying. He's lying. He knows it, we know, and the media knows it. The problem is, of the three above, we're the only ones who care about the truth.
Where is this consensus that the stimulus saved jobs? Crap pure crap...
ReplyDeleteThe stimulus is why we are in the hole we are in. Sure businesses got a big fat check curteosy of the Democrats (who I thought were for the poor and down trodden--I guess not). But businesses people unlike progressives realize there is no free lunch, some one is going to have to pay that money back. And now we have QE2 or we could not borrow any more so we printed a bunch of Obama bucks and amazing inflation pressure in the economy I am shocked.
The only logical part of Duck's analysis is that an improving will not mean more $$ for the small businesses person trying to expand or get started. Why because we have allowed the government to create an environment were only big companies can survive...
We dont need more taxes or less taxes we need fairer taxes.
The current system gives the power to lobbyists and not the people....its time we told Congress to end all loopholes. A real conservative republican would be saying yes to ending oil and gas loopholes with matching reductions in loopholes for those energy credits favorable to Democrat candidates like ones exploited by GE. This strategy opens the way to show how Obama is in bed with big companies like GE.
as to unemployment--we all know the statistics regarding unemployment are flawed and the slaves of the democrat party in the media will follow their masters and report these lies.
ReplyDeleteAs to why Boehner says the same thing--what else can he do for those are the only numbers available. He would have to sepnd his days trying to argue against a tidal wave of criminal media reporting
If a business were to misrepresent their data the way the government does, somebody would be looking out from behind bars.
ReplyDeleteThere was a link to a blogger who was a conservative woman who was homeless. She tells her moving story almost every day. You might want to check it out..go back a couple of days.It would be good if Obama checked it out as well.
ReplyDeletehttp://homelessandconservative.blogspot.com/
It prevented states with Democratic legislatures and governorships from going broke sooner. All of the jobs he claims he saved were union jobs. the stimulus did nothing for the private sector.
ReplyDeleteAs usual, the emperor is still naked.
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ReplyDeleteReality is a concept whose time has not come.
But I will say this, The Democratic Party will stand Mr Obama for President in 2012. After the on-going Fox Network 2012 Primary who will the Republicant Party stand for President?
It will be fun watching the Republicant Party trying to get pig on the lip-stick after the sty of the Fox Network finishes sorting out the bat-sh!t crazy.
Ema Nymton
~@:o?
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Ema must have stepped in Ducky's crap...
ReplyDeleteBy their own accounting, if Obama "saves" many more jobs, we're through as a country.
The stimulus cost trillions? Farmer, have you been into the medicinal marijuana again?
ReplyDeleteIt was not even close to a trillion.
He has lost all sense of reality. How could he possibly understand economic trouble when he behaves believes himself to a monarch?
ReplyDeleteI truly hope more people are seeing the truth behind his hope and change crap.
I'm watching all the nuts from the Democratic party come out.
ReplyDeleteIf a Republican was in the White House we would see nightly news stories describing the economic hardship of those who are unemployed and underemployed. But we don't see those stories any more than we do the stories about the economic hardship caused by high gas prices.
ReplyDeleteObama and the Democrats are able to ignore the heartbreak of Americans suffering in the Obama Depression because they know tha the story will be swept under the rug while the "news" media focuses on trying to blame the Republicans for not approving a hike in the debt limit that will allow the Democrats spending binge to continue unabated.
More indication that Obama is delusional:
ReplyDeletePresident Obama on Tuesday said he cannot guarantee that retirees will receive their Social Security checks August 3 if Democrats and Republicans in Washington do not reach an agreement on reducing the deficit in the coming weeks.
"I cannot guarantee that those checks go out on August 3rd if we haven't resolved this issue. Because there may simply not be the money in the coffers to do it," Mr. Obama said in an interview with CBS Evening News anchor Scott Pelley, according to excerpts released by CBS News....
Lovely, huh? Holding hostage the elderly and the disabled -- some with mortgages to pay and most with Medicare premiums coming out of their Social Security checks. Imagine how those words from Obama sent thrills up the legs of the medical profession. Hospitals and nursing homes are dependent on the funds from those Social Security checks. Such is the case with my catatonic mother-in-law (age 91 in end stage Alzheimer's); her Social Security check pays 1/2 of her nursing home fee; that particular facility operates on a shoestring budget and cannot absorb even one month of no funding via Social Security.
Jackie,
ReplyDeleteNo doubt.
And Obama's arrogance just keeps on coming. Sheesh.
Mike,
ReplyDeleteThe media aren't covering the stories of economic hardship with a Dem in the White House. But the reality on the ground is slapping people in the face. As more and more foreclosures and personal bankruptcies and business closures occur, the reality will be hard to deny. Even here in the D.C. area, largely immune from the present economic depression, we see empty office space scattered throughout the reason -- and some of those empty spaces are in posh communities too.
Bunkerville,
ReplyDeleteI'll check out that link. Thanks.
Blogginator,
ReplyDeleteThe stimulus is why we are in the hole we are in.
Too bad that individuals (taxpayers) didn't each get about $10,000 of that stimulus. Then we'd have seen an upturn in our economy!
Ema,
ReplyDeleteActually, it's too early for the opposing party to declare a candidate.
Primary season is always messy.
Woodsterman,
ReplyDeleteNo one wants to hire in Obama's uncertain Obamanomics.
Exactly.
Any economy operates to a certain extent on confidence.
Americans as a whole have lost confidence in Obamanomics.
Leticia,
ReplyDeleteHow could he possibly understand economic trouble when he behaves believes himself to a monarch?
Furthermore, Obama has a lack of empathy. Liberal columnist Richard Cohen has pointed out that flaw in Obama's character.
LA,
ReplyDeleteIt prevented states with Democratic legislatures and governorships from going broke sooner.
But the layoffs are happening now. The so-called stimulus was a short-lived stopgap measure -- and gave local and state governments a false sense of financial security.
Get ready for a "double dip." It's coming. Big time.
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ReplyDelete"Blogginator,
The stimulus is why we are in the hole we are in."
Wrong again. The people are in the hole again because the Wall Street thieves robbed the the bank and are getting away with it.
Simple solutions can be, raise taxes on the wealthy and rich, and prosecute the criminals.
Ema Nymton
~@:o?
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prosecute the criminals
ReplyDeleteYou mean like Franklin Raines... or do they gett special deals as friends of Angelo?
...friends of Rezko?
ReplyDeleteHere come the thieves again...
ReplyDeleteJoe,
ReplyDeleteThank you for visiting and commenting.
Yes, if this administration has its way, we'll reap the whirlwind of another subprime mortgage disaster.
Joe,
ReplyDeleteRaines! Another Harvard grad.
What is it with these Harvard grads?
Harvard, MA. Need I say more?
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