Friday, September 6, 2013

Dismal Jobs Report - Thank You Mr. President

The August Jobs Report was dismal as just 169,000 new jobs were created, barely enough to keep up with population growth.   Of these jobs, most were either in Retail, Hotels and Restaurants, or Temporary, all low paying positions.   The unemployment rate did fall a bit to 7.3%; but only because another 300,000 people just gave up looking for work altogether.  In fact the Labor Participation rate, those actually working fell to 63.2%, the lowest level in 35 years.  In addition, the June and July jobs reports were downgraded by 74,000; that is 74,000 fewer jobs were created than originally stated. 

Obama's policies of higher taxes, more burdensome regulations, ObamaCare and more deficit spending are all job killers and we see the end result.  Real Unemployment when all our counted, those not working, those working part time that want full time jobs and those that have given up looking for work altogether is still around 14%, six years into the Obama Presidency.   The Recession is not over; just camouflaged by the Fed's printing of money and millions of people added to the dole under Obama.   The poverty rate is actually higher today, under Obama, than when Jimmy Carter was President.   We have more poor people today than when Bush II left office even after spending a Trillion dollars on Obama's SwindleUS Plans.

Socialist President Obama is to blame because he does not understand Economics 101.  Higher taxes, more regulations, ObamaCare and more deficit spending are retarding the growth of the economy.  It is just that simple.  Unfortunately, Obama is such an ideologue trapped by his Socialist thinking that he just can't change paths.   We are destined to see more poverty and misery in our country if we keep going down the same Obama road.  It is what it is. 

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