(CBS News) WASHINGTON - Despite the hopeful news of over 160,000 additional jobs created, it was tempered by the announcement that America's unemployment rose a tenth of a point to 8.3 percent. No president since Franklin Roosevelt has been re-elected with an unemployment rate this high. But President Obama Friday decided to focus on the number of jobs that were created.
I personally actually follow the u6 unemployment numbers which show unemployment as:
March - 14.5%
in addition Labor force participation dropped another 0.1 points to 63.7 percent.
Then I came upon this graph which was presented some time ago.. The WH gave some estimates of unemployment if the stimulus wasn't passed way back when.. well let's take than and look at the estimates and what actually occurred.
bottom line.. the economic recovery is NOT working. Instead I see campaigning, arguments over Romney tax returns, president talking to Olympians etc.. I'm beginning to think the recovery planned has turned into .. "maybe eventually it will fix itself". If we were currently in something like the Great Depression would everyone still be arguing about things like.. banning extra large sodas, buckeyballs and other trial issues?
“The media's the most powerful entity on earth. They have the power to make the innocent guilty and to make the guilty innocent, and that's power. Because they control the minds of the masses." -Malcolm X-
"In the 13 months I've been in the Senate, it has become apparent to me the single thing that Democrats hate and fear the most - and that is when they're forced to tell the truth. It makes their heads explode. An awful lot of the Democrats wanted exactly what George W. Bush wanted, exactly what John Boehner wanted, exactly what Mitch McConnell wanted, which is to stop the raising of the debt ceiling, but they wanted to be able to tell what they view as their foolish, gullible constituents back home they didn't do it."
Just to pile on, 52,000 or about 1/3 of that came from the birth/death "fix" in the model. That is, an artificial adjustment intended to account for businesses started/closing within a time frame too recent to be counted in the numbers. You can judge for yourself how reasonable of an assumption that is given the current business environment.
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