Illustration GOP Busting Obama by Linas Garsys for The Washington Times

August’s abysmally weak job growth proved yet again that President Obama’s economic policies are a miserable failure that will continue to undermine our country until he leaves office.

The government’s report that the economy added just a minuscule 96,000 jobs last month came at the end of the Democrats’ defensive national convention, where the president, Bill Clinton and other party luminaries made extravagant claims that things will get better if Mr. Obama is re-elected to a second term.

But analysts at the Federal Reserve Board, economists and business leaders say Mr. Obama’s declining economy is not going to get significantly better this year, next year or the year after that, until there are dramatic changes in the nation’s fiscal policies. Changes Obama Democrats refuse to make.

The deepening weaknesses in the employment picture also were underscored by revisions in the June and July job numbers, which found 41,000 fewer jobs were created than was reported previously.

Not only is the rate of job growth shrinking fast in the fourth year of Mr. Obama’s presidency; the economy’s growth rate also is slowing this year to a snail’s pace: 1.7 percent in the third quarter.

But he didn’t say anything about the weak job-creation rate or declining economic growth in his speech last week. Instead, he rattled off a long list of specious claims, taking credit for things for that were not true.

He told convention delegates and the nation at large that he had saved the automobile industry and boosted overall manufacturing, too. But auto-industry employment was still 12 percent below pre-recession levels, and employment data show we lost 15,000 manufacturing jobs last month, after a string of previous job losses in that sector.

Mr. Obama was playing fast and loose with the facts throughout his speech, as in his statement that “over the last three and a half years, we have focused on righting the ship … creating 4.5 million new jobs.”

But the Labor Department says job creation during Mr. Obama’s presidency has been several hundred thousand at best. In fact, “Obama is on track to have the worst jobs record of any president since World War II,” says Washington Post Fact Checker Glenn Kessler.

Mr. Obama claimed in his convention speech that he’s had to deal with an economic recession that is the worst since the Great Depression. But Ronald Reagan similarly faced a severe recession in which unemployment rose to 10.8 percent in November 1982. (Mr. Obama’s peaked at 10 percent.)

But Reagan “put in place a very different set of stimulus measures — emphasizing private-sector leadership — and when he faced the voters in 1984, the jobless rate had fallen to 7.3 percent,” economist Peter Morici points out.

Reagan’s across-the-board tax cuts — which Democrats ridiculed at the time — injected needed capital liquidity into every part of the nation’s economic bloodstream, and the economy took off like a rocket. Quarterly economic growth rates in 1984 were 8.5 percent, 7.9 percent, 6.9 percent and 5.8 percent. Compare that to Mr. Obama’s quarterly economic growth rates this year: 2.0 percent and 1.7 percent.

Mr. Obama told the country to be patient and the economy would improve under his infrastructure spending policies. But that hasn’t happened, and forecasters are predicting growth rates in the 2 percent range at best, far too weak to create the millions of jobs needed to bring unemployment down to 6 percent or less.

Unemployment fell last month, from 8.3 percent to 8.1 percent. (It’s been over 8 percent for 43 months.) But that’s because 581,000 workers stopped looking for jobs and thus were not counted among the unemployed.

To put last month’s 96,000 jobs into sharper perspective, the economy must add 377,000 a month, or 13.6 million over the next three years, to shrink unemployment to 6 percent. That will require economic growth rates in the range of 4 percent to 5 percent — levels Mr. Obama’s anti-growth, anti-capital-investment policies cannot produce now or ever.

There is more to Mr. Obama’s bleak economy than just the shrinking number of available jobs. A devastating list of other statistics, ignored by the nightly news shows, reveals a nation struggling to make ends meet. Among them:... REST OF IT



Views: 22

"Destroying the New World Order"

TOP CONTENT THIS WEEK

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

Latest Activity

Less Prone favorited Doc Vega's photo
10 hours ago
Less Prone commented on rlionhearted_3's photo
Thumbnail

What the fuck?

"When will the perverts picked out of the government and positions of power for thorough…"
10 hours ago
Less Prone favorited Doc Vega's blog post The Re-Evaluation of our Current Reality
10 hours ago
Less Prone favorited Doc Vega's blog post Former Naval Physicist and Photo Analyst Bruce Maccabee’s Wife Sees Alien Predator!
11 hours ago
Doc Vega's 6 blog posts were featured
11 hours ago
cheeki kea's blog post was featured
11 hours ago
james will's 2 blog posts were featured
11 hours ago
Less Prone left a comment for Роман
"Welcome on board. Your input is welcome, but could you provide a translation in…"
11 hours ago
Less Prone left a comment for Tina Sullivan
"Did you lose the password= As far as I know we have changed nothing her. Continue as Sullivan."
11 hours ago
Doc Vega posted a blog post

Death of an F-106 Pilot in Pursuit of the Unknown

 The year in between 1970 and 1972 on July 14 on a single night when a series of events led to the…See More
20 hours ago
Tina Sullivan left a comment for Less Prone
"Hey, buddy!  You're right, I can't get into my account!  "
yesterday
rlionhearted_3 posted photos
yesterday
Doc Vega posted a blog post

The Re-Evaluation of our Current Reality

 Surprisingly, there has been talk of mankind being enveloped in an artificial reality for decades…See More
yesterday
tjdavis posted videos
Wednesday
Sandy posted a video

Source: Havana Syndrome investigation is "a massive CIA cover-up" | 60 Minutes

For years, the U.S. government has doubted the stories of those suffering from AHI, commonly called Havana Syndrome. Now, victims hope that reports of a newl...
Wednesday
Doc Vega posted a blog post

Regrets That Cling to Me

Talking with my shadow in the nightI know it sounds contriteA vacuum without the lightThe silence…See More
Monday
tjdavis posted a photo
Monday
Doc Vega posted a blog post

Reality Is now Becoming Unhinged

 Let’s take a trip down the modern-day rabbit hole we call everyday news and events, but on a more…See More
Sunday
cheeki kea commented on Sandy's video
Thumbnail

Ghislaine Maxwell & The Secret "Shadow" 9/11 Commission? | John Kiriakou

"You tuber Sabby Sabs sums up and joins dots. Don't miss this one."
Sunday
Doc Vega posted a blog post
Mar 5

© 2026   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted