Friday, September 7, 2012

August Jobs Report - Dismal

After all the hoopla at the Socialist National Convention and President Obama's speech filled with flowery language and not much else, we now have the August Jobs Report and the numbers are dismal.   While unemployment fell from 8.3% to 8.1%, only 96,000 new jobs were created in the month of August when they were hoping for 125,000 or more.  We have now had 43 straight months of unemployment above 8% as a result of Obama's failed economic policy.  And, the numbers for June and July were revised downward by 41,000 jobs making matters even worse.  In addition, the number of people actually working is the lowest in 31 years. 

Most important, 368,000 more Americans simply gave up looking for work altogether so they are no longer counted in the official unemployment rate, the real reason for the drop in the unemployment rate.   The real unemployment rate when all are counted is around 15% as 23 million Americans are either out of work, working part time that want full time work, or they have just given up looking for work altogether. 

This should be no surprise to anyone.  Last June marked the third consecutive month of falling retail sales.  People are just not spending money making any new purchases because of all the uncertainty caused by Obama policies.  Factory output is slumping.   The manufacturing index of the Institute of Supply Management dipped to 49.7%.  Any figure below 50 means that the manufacturing sector is shrinking.   This is probably the reason 15,000 manufacturing jobs were lost in August.  Gross Domestic Product Growth is now projected to be less than 1.4% for the quarter.  Some believe it will fall below 1%.

The facts are that we need job growth of 300,000 or more every month to make any dent in unemployment since 100,000 jobs a month are needed just to keep up with population growth and kids coming out of school.  We need GDP Growth of 3% or more to get our country back on track to restore economic growth and job creation again in America.   None of these things are happening even though Socialist President Obama promised us that if his Trillion Dollar deficit spending SwindleUS Plan was enacted into law, that unemployment would be at 6% or lower by now.   It just did not happen.  

Obama is asking for more time, or four more years, now saying that none of his previous promises are applicable and that fixing the economy was impossible in just one term.  Oh really.   Tell that to President Ronald Reagan who inherited high inflation and interest rates, 10% unemployment and as bad an economy from Jimmy Carter as the one inherited by Obama.  Reagan had the economy growing at 600,000 jobs a month, or more, within two years of taking office.  Reagan did it by cutting taxes and regulations to unleash the growth engine in the private sector.   The rest is history.  Reagan policies generated 22 million new jobs well into the Clinton Administration. 

Obama had his shot.   Obama's Socialist Schemes have failed to restore economic growth and job creation again in America.   But again, this should be no surprise to anyone.   Socialism where ever and when ever it has been tried in the world has led to misery, more poverty, a lower standard of living, loss of freedom and in some cases murder.  Enough is enough.   It is time to elect Mitt Romney the next President of the United States and gain Republican control of both Houses of Congress to get our country back on track.   We need to roll back 100 years of Socialist Creep to prevent the bankruptcy of the United States. 

We can do it.   We must do it to preserve our freedom, our nation and way of life for the sake of our children and grandchildren.  Obama's excuses and attempt to blame others for his failures have gotten really old.  The buck stops with him.  Obama and his Socialist pals in Congress have made a real mess of our economy.   As such, we must sweep these Socialists, at all levels of government, out of office to take back our country.  How many more dismal Jobs Reports must we endure to stop the Obama insanity.  Obama is Jimmy Carter II, only worse.   It has to end. 

P.S.  To donate to Mitt Romney's campaign, go to and click on Donate.  Once on that page look for the line that says, I know my Referrers Information, click on that box and type in 8544, the National Freedom Forum Referral Number to make our voices heard.  Give as much as you can to make Obama a one term President and take back our country. 

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