The Obama administration just reported that the unemployment rate dropped from 8.l percent to 7.8 percent.
They also reported that the number of jobs created was 114,000.
The economy must create 150,000 new jobs just to keep up with the population growth.
The question is how is it possible for the unemployment rate to drop, when the new jobs did not put one unemployed person back to work and there was not even enough new jobs created for the increase in population?
You don’t need to be an economist to know the unemployment rate is bogus; all you need is third-grade math. Jack Welch, the well respected former CEO of GE just said about the new unemployment rate; “unbelievable, these Chicago guys will do anything”
Additionally we are not better off today than we were four years ago.
Gas was $1.84 a gallon in January 2009, today it is $3.78 per gallon. Unemployment was 7.8 percent. After $1 trillion in stimulus spending, the “official” number is 7.8 percent; the real number is closer to 15 percent.
Net worth of the average family is down 40 percent from four years ago. More people are on food stamps than at any time in our history.
One in six Americans are now in poverty. Fewer Americans are in the workforce than four years ago.
The last time it was this low was when Jimmy Carter was in office. The national debt is $16 trillion, compared to $10.6 trillion then.
Prices at the grocery store have soared in the last four years. The average family income was $55,000 then, today its $50K.
Businesses have become afraid to hire because they don’t know what their government is going to do to them next and 50 percent of college graduates can’t find work.
The class warfare rhetoric of President Obama has pitted Americans against each other and the country has not been so divided since the Viet Nam War days.
Lastly, health insurance costs have increased not decreased.