Guest post by Joe Hoft
Under Obama the labor participation rate plummeted. In September 2016, 94,184,000 Americans were not in the labor force. The nation’s labor participation rate began its steady downward trend in 2000, and has not recovered.
The Congressional Budget Office in an August 2016 update to the nation’s budget and economic outlook, said “certain aspects of federal laws, including provisions of the Affordable Care Act [Obamacare] and the structure of the tax code, will reduce participation in the labor force by reducing people’s incentive to work or seek work.”
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Due to the fact that the US population is larger than ever and combined with the terrible labor participation rate, the US now has more people without work under Obama than at any time in our nation’s history. In May 2016 a record 94,708,000 Americans were not in the labor force. When President Obama took office in January 2009, 80,529,000 Americans were not participating in the labor force; since then, 14 million Americans have left the workforce — some of them retiring and some just quitting because they can’t find work.
Living in his own world, Obama thinks the US economy is doing fine. This is a big reason why it is not. Obama’s policies have done little to nothing to help this US economy and in many ways have harmed it (i.e. Obamacare). Many Americans are looking for work but can’t find any because of Obama’s ignorance and socialist ideas.