Thanks Barack – Thanks Nancy – Thanks Harry

(Source: US Misery Index)

And, it only took him 18 months… Another record!
Barack Obama is the worst jobs president since the Great Depression and possibly is the worst jobs president in US History. The US unemployment rate has not fallen below 10.8 percent in the last 12 months. This is unprecedented.
Common Dreams reported:

As the nation contends with a long and sustained labor market recession, a new study from the Center for Economic and Policy Research demonstrates that the current unemployment rate is higher than the conventional measure shows.”An unemployment rate that has hovered above 9 percent for several months is striking, but the jobs picture is even worse than it looks,” said report author and CEPR Economist David Rosnick.

The study, “The Adult Recession: Age-Adjusted Unemployment at Post-War Highs,” adjusts the current unemployment rate to account for demographic differences and finds that the unemployment rate has not fallen below 10.8 percent in the last 12 months. During the worst episode of the recession of the 1980s — the second half of 1982 and the first half of 1983 — unemployment passed 10 percent for 7 months.

Don’t expect to see this on the nightly news.

Today Treasury Secretary Timothy Geithner announced that the U.S. unemployment rate could rise for two months before it drops.

 

 

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  1. The Job Assassin (credited to Jamie Allman)

    He was already an a$$hat, now he’s an assassin as well.

  2. What did people expect electing Mister Peanut as president? What were they thinking?!

  3. Hoooraaaaay !

    Thanks Democratic Party !

    No more reason for a vacation visit to FRANCE,
    we have the failed collectivist disaster right here.

    Democrats – Obama – Pelosi – Reid – Clinton have failed on all, whether it be North Korea, transparency, earmarks, signing statements, tax increases, GITMO, executive orders, uniting the Country, draining the swamp, “smart power”, Iran, border security, etc.

    The other day, Obama was so cheap, he could not even offer some decency in regards to the success in Iraq created by the prior Bush Administration’s leadership. A major achievement of liberation created by the Allies in the Free World, and Obama is willing to cede it all away, because it is a product of his Domestic Political opposition. How childish and foolish can one be?

  4. socialism, epic fail. How many times do you have to repeat before you know.

  5. Complaining about the current state of affairs is futile….these people are happy that everything is turning to crap….it’s by design and they have a plan….it’s very depressing but that’s the way it is…
    …and BTW my depressed response is also what they want and that really annoys me…
    …however, I still have a strong streak of optomism that in the end these nuts will go away, eventually…

  6. let’s see Clinton 8yrs in office, Bush 8yrs in office…..Obama 18 months in office. Well that seals it for me. I think you might have to wait the full 8yr term before you can make that statement. But who cares about fairness when you can rail on the Socialist, Marxist, Racist, Hitlerist oh yea and don’t forget the boogey man President. Well, I was reading the Wall Street Journal last week sometime and it had the rundown of job creation by each President and don’t you know in dead last for job creation was good ol’ W with a grand total of 3 million jobs created in 8 years of his administration. Clinton created 21 million new jobs under his REGIME . Even poor old Jimmy carter created more jobs than Bushy did and he was in office for only one term. I think we’re getting tricked on.

  7. The worst possible government at the worst possible time. One couldn’t ask for a stupider set of policies than what we’ve gotten over the past 18 months.

    Every time Jivemaster opens his mouth, he betrays his economic ignorance. But it’s not about fixing the economy. It’s all about the looting of America’s wealth and handing it to the Jivemaster’s parasites.

  8. It is the Congress that wields financial power, not the President. The President is an executive who leads by setting policy, executes Congressional laws and (hopefully) acts a brake on congressional excesses. Democrate control of Congress has existed since 2006. Before that a bunch of spend happy Republicans controlled Congress. You learned all this in your high school government class.

  9. Let me guess Mike. You are employed, by the government perhaps, or some union?
    Am I getting warm?
    So I guess that as far as the doubters of our great Lord Obama are concerned, we heretics can all just go to hell.
    We simply are not worthy of Him.
    Besides, everything is George Bush’s fault, everything.

  10. Garrett:

    A president can have significant influence on legislation via pressure on congressional leaders, the public popularity of his policy objectives, and, ultimately, with his veto pen.

    The Obama administration has let Congress run wild with one piece of legislation after another. Some have criticized the president for not having a more hands-on approach, but I suspect the president agrees with most of the inane legislation that this Congress has produced.

    As I’ve written elsewhere, never in my 35 years of following financial markets have investors, business owners, and just average citizens had so much to fear from stupid and heavyhanded intrusions by the federal government.

  11. Mike: rock on. Stuart: lighten up, man.

    Anybody recall how this is the worst economic downturn since the great depression? What do you THINK employment looks like during one of these? And all of you “I can make it on my own, if the government stays out of the way” folks are now asking “where, oh where is the government with my job?” SOCIALISM? Really? Does that include private sector job creation for DoD projects which the uniformed military has vehemently stated they do-not-need? But I thought you hated big government spending? Especailly big government deficit spending? Even if those deficits create jobs? Hmmmm.

    Think about it.

  12. Stuart:

    I didn’t even give a thought to responding to Mike’s comment. His numbers are useless and likely phony. Just like the phony numbers that routinely show up on Obama’s teleprompter.

    Americans should be very concerned that each $30-60K job being trumpeted as “created” by Obama comes at a price of hundreds of thousands of dollars to the taxpayers. In addition, many of the jobs are in new “pet” projects that make liberals feel good, but that are unlikely to be economically viable. We already saw some of this under Bush, specifically with his signing on to the ethanol craze.

    The administration has declared a crisis, and a la Rahm Emmanuel, is using it for its own purposes. The day of reckoning — and it will reckon — is again being kicked into the future. One doesn’t need to be Milton Friedman to figure out the consequences of this smoke-and-mirrors policymaking.

  13. This is the official unemployment rate, I believe, and is calculated by counting people on unemployment. Am I right about that? I think the unofficial “actual” rate is much higher.

  14. Thanks for the memories, Barack: Or, how to bankrupt a country in three easy steps

    http://pajamasmedia.com/rogerkimball/2010/07/26/how-to-bankrupt-a-country/

  15. Chkn Fryd:
    No. We are not asking the government where our jobs are. We are asking the government to GET THE HELL OUT OF OUR WAY. I had a job. It was a good one. But at my age, in this economy, I can probably expect to never have another. Were this economy ever to return to normal, I might work again, but given the damage that this administration has done I doubt that the economy will ever return to normal in my lifetime.
    If you doubt this just wait till January when the tax hikes hit. Can you say “depression”?
    Another thought: how many small businesses will be willing to continue operating when the have to fill out another form 1099 for every $600 purchase. Have you any idea the blizzard of paperwork this is going to cause? How many thousands of IRS employees will it take to file and record them? Or is it as I expect just another useless exercise in jumping through hoops for the sake of jumping through hoops.
    As for your advice that I “lighten up”; America has lightened up for decades and this is where it has gotten us.



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