The Obama Jobs Gap Grows Again
Heritage Foundation: Another month, another 263,000 jobs lost under the Obama administration. According to Bureau of Labor and Statistics data, the United States economy has lost 3.6 million net jobs since President Barack Obama was sworn into office and the unemployment rate has risen from 7.6 % to 9.8%. It was not supposed to be this way. The experts in the Obama administration promised the American people that the President’s $787 billion stimulus package would create 4 million jobs by the end of 2010. According to the Obama administration’s expert plan, the stimulus was supposed to create or save enough jobs that the unemployment rate would only be 7.8% by this time. Instead unemployment rose last month and is now at a 26-year record high of 9.8%.
When the Obama administration first unveiled their stimulus plan in November they claimed it would create 2.5 million jobs by the end of 2010. At the time BLS reported that U.S. economy employed about 136.1 million jobs. But by January that number fell to 134.6 million jobs. Not so coincidentally, the Obama administration upped the job-creating magic of the stimulus to 4 million jobs by the end of 2010. Putting these numbers together, we can create an objective standard to judge both the President and his stimulus by: 136.1 million plus 2.5 million equals 138.6 million; and 134.6 million plus 4 million equals 138.6 million. So the objective, Obama administration created, BLS data verifiable, jobs accountability number is 138.6 million. Today’s BLS report shows that President Obama is 7.6 million jobs short of his promise to the American people.
To close the Obama Jobs Gap, the U.S. economy would have to go through the greatest 16-month average increase in employment in modern American history. During the peak of the Reagan boom in December of 1984, the U.S. economy added 373,000 jobs a month. Obama would need to create 477,000 jobs a month. That is not going to happen.
So what went wrong? Simply put, Obama’s experts relied on some fundamentally unsound assumptions and now our nation is paying the price in lost jobs and record deficits. . . . The Federal government can stimulate the economy in the short term, not by shuffling demand across the economy through wasteful deficit spending, but by improving incentives and the general economic environment. Individuals and businesses across the nation already see tremendous opportunities for starting new businesses, for investment, for hiring new workers, for expanding into new markets. However many are holding back due to existing excessive tax and regulatory burdens. Instead of making this situation better, the Obama administration and Congress seem intent on making it worse by enacting new taxes and regulations on energy and passing health care legislation that will tax businesses for creating jobs and encourage lower wages. . . [Full Article]
Tags: American jobs, jobs, Barack Obama, Heritage Foundation, unemployment To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. Thanks!
When the Obama administration first unveiled their stimulus plan in November they claimed it would create 2.5 million jobs by the end of 2010. At the time BLS reported that U.S. economy employed about 136.1 million jobs. But by January that number fell to 134.6 million jobs. Not so coincidentally, the Obama administration upped the job-creating magic of the stimulus to 4 million jobs by the end of 2010. Putting these numbers together, we can create an objective standard to judge both the President and his stimulus by: 136.1 million plus 2.5 million equals 138.6 million; and 134.6 million plus 4 million equals 138.6 million. So the objective, Obama administration created, BLS data verifiable, jobs accountability number is 138.6 million. Today’s BLS report shows that President Obama is 7.6 million jobs short of his promise to the American people.
To close the Obama Jobs Gap, the U.S. economy would have to go through the greatest 16-month average increase in employment in modern American history. During the peak of the Reagan boom in December of 1984, the U.S. economy added 373,000 jobs a month. Obama would need to create 477,000 jobs a month. That is not going to happen.
So what went wrong? Simply put, Obama’s experts relied on some fundamentally unsound assumptions and now our nation is paying the price in lost jobs and record deficits. . . . The Federal government can stimulate the economy in the short term, not by shuffling demand across the economy through wasteful deficit spending, but by improving incentives and the general economic environment. Individuals and businesses across the nation already see tremendous opportunities for starting new businesses, for investment, for hiring new workers, for expanding into new markets. However many are holding back due to existing excessive tax and regulatory burdens. Instead of making this situation better, the Obama administration and Congress seem intent on making it worse by enacting new taxes and regulations on energy and passing health care legislation that will tax businesses for creating jobs and encourage lower wages. . . [Full Article]
Tags: American jobs, jobs, Barack Obama, Heritage Foundation, unemployment To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. Thanks!
Posted by Bill Smith at 3:51 PM - Post Link
12 Comments:
So much for job stimulus---the Obama people are falling flat on their faces and quite frankly I'm enjoying it for the failure of Obama in the end means success for America.
It takes but 2 words to describe the entire Obama administration..
EPIC FAILURE!
Obeyme and Soros' plan dosen't work unless we are all starving and ready to give in to their plan.
Entrepreneurship and small business is the backbone of the economy. We all owe our jobs to an Entrepreneur.
Yep. until we get Obeyme out of the way and get a good group in congress we are going to continue suffering with 10%+ unemployment and this economy. Watch out for CHristmas, it's not going to go well and January will be bad.
Goal-create CHAOS so He can CONTROL!
Well Rivervalley Conservative - I think you have hit the nail on the head. In 1997 Maurice Strong - who set up the Kyoto conference on behalf of the U.N. was quoted in The National Review magazine as saying "The only way of saving the world may be for industrial civiliazation to collapse, deliberately seek poverty, and set levels of mortality."
Maurice Strong is a Canadian. He went to school with David Rockefeller. He has been agent of the elites ever since. He was appointed the head of our province's government run electricity distributor. He tore it apart on purpose. Then he gets jobs at the Rockefeller, Rothschild run U.N. and gets to tear apart profitable organizations across the world. He also has this weird religion he is into = http://216.117.216.152/Mstrong.htm
He teamed up with Al Gore in a carbon trading scam company.
These are the type of people that run the planet, controlled by the elites. They want to kill off 80% of the world population. They own both the Democrat and Republican parties. Wake up to the false Left vs Right paradigm and focus on the people who are really controlling your lives and learn how to say NO!
I have been saying that Obeyme isn't worried about being re elected. Soros and his group have been laying out a plan and Obeyme is the puppet they got into the white house to keep the executive branch from getting into their way. I hear the Con-Con could be the way. Constitution Convention in a crisis maybe to "balance the budget" and when they open the constitution up for change they radically change it and we get a "dictator".
Your dead right again Rivervalley Conservative. 32 states have already requested the Con Con which means they only need two more. Ohio almost caved in during their last session but it was blocked. It's the scariest thing that almost no one is aware of. There is no limit to the power that the delegates to a Constitutional Convention would have - People truly have their heads in the sand. There is so much education that needs done in a very short period of time!
Todd sounds like you have been talking with Bob Porto. He is trying to get this word out. I have posted it a couple of times and I will continue. Con-Con doesn't need to take place.
Might be that Bob Porto has been talking to me. :) just kidding - Bob and I talk several times a week. The real muscle behind getting the word out on Con Con is Secure Arkansas. They will be pushing a ballot initiative for 2010.
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