Unemployment and Obamanomics go Hand in Hand

By Caomhin

Personally I’m not nearly as optimistic as the author of this article on Market Watch, I don’t think we’re going below 10% unemployment and I’ve heard rumblings that we may actually see increases and not decreases in unemployment:

According to the median forecast of economists surveyed by Blue Chip Economics, about 1.1 million nonfarm payroll jobs will be created next year. The consensus expects the unemployment rate to be 9.9% a year from now.

Three-percent growth “won’t generate enough job growth to do much more than keep unemployment from rising further,” wrote Tim Duy, an economics professor at the University of Oregon.

 

Surely you will reports about the smallest of small decreases in unemployment being celebrated by the media, but Obama’s economic policies have been the definition of Epic Fail.  He spent foolishly and outrageously during his first year in office and there are no indications that he is going to stop during his second year.  He is hell bent on expanding our national debt to the point of being unsustainable.  While he celebrates the smallest of accomplishments, surely someone in his administration knows that his outlandish spending has achieved little and that had the government not kneecapped the free market we would be seeing more rapid growth in the economy and the job market.  We had two choices in regards to recovery.  Fast and painful or slow and painful.  Obama chose the slow and painful method.

What makes this all the more disheartening is due to this unfathomable spending, when inflation sets in the Fed has already sent some signals to indicate it has keep rates at near zero, which of course, will lead to rapidly rising prices, further hurting American families.  The interest bill on our national debt has put a tremendous amount of pressure on this nation and there is no easy or quick fix for this problem.  Obama does not have the resolve to address this issue, he doesn’t even have the resolve to say no to a single pork barrel project.  I have often said that the only “reset button” Obama has successfully pushed is the one that resets our natural rate of unemployment from 3.5% to about 7 or 8% as the result of Obama’s liberal, anti-free market policies.  Liberals can try and spin numbers all they want but until the American people have well paying jobs to provide for their families and build for the future there is no such thing as recovery.  We’ve also seen the media refuse to label this what it is, a depression, which occurs after two consecutive quarters of negative growth in GDP.  Obama has exacerbated the issues and only the resilience of the American people can and will fix our issues and that will be in spite of, and not because of, Obama’s horrendous policies.

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