If you are inclined to believe Joe Biden's ridiculous claims that America is going back to work-think again. Here's another view from JBlog Israel forum.
http://www.israelforum.com/blog_article.php?aid=2834263
So has the unemployment rate suddenly plummeted? Hardly. Sure, the government has "created" some 400,000 GOVERNMENT jobs, which means tens and tens of thousands of census takers. They also use this neat little trick of laying off workers then re-hiring them so they can claim those as "new jobs". Even if this includes actual, permanent jobs, that just means our government is growing, which does squat for the economy. It's no secret that the Obama administration is bringing in truckloads of new bureaucrats to manage all the new regulations they are passing (i.e. health care).
"That's a big f------' deal!"
And those 41,000 Private sector jobs? You need a growth of some 100,000 jobs per month just to keep pace with the influx of young people into the job market.
And the unemployment rate as of June 4th? 9.7% according to the Bureau of Labor Statistics. Make that 13.7% in California.
http://www.bls.gov/news.release/empsit.nr0.htm
"That's a big f-------' deal!"
The administration and Joe Biden, who they shoved out there to give that pitiful news conference, are using smoke and mirrors. And all those jobs the government has "saved"? Well, I guess they "saved" mine here at Fousesquawk. They gave me something to write about one more day.
5 comments:
I want Bush back, then everything would be wonderful again.
So do I.
If you recall, this entire crisis began on Bush's watch. We can discuss whether Obama is taking the most effective steps to fix the matter, but Ingrid's statement, hopefully intended as sarcasm, is rather like looking at the efforts of certain Arab nations and parties to destroy Israel, and observing "I want Hitler back, then everything would be wonderful again."
(Explanation, for those who missed it: Hitler cause the problem that led to massive Jewish emigration from Europe to what is now Israel and made it into a state vs. a series of settlements. Bush caused the problem that led to massive unemployment in America. Is the analogy clear now? Or did you take this as a pledge of allegiance to Hamas? Its' not. I assumed you were bright enough to recognize that, then had second thoughts.)
Incidentally, I have one of those census jobs, and together with bits of free lance work I've cobbled together, it allows my to keep spending on necessities, buy a little over and above to help a few people keep their jobs, and still donate to help people in Haiti.
Economists who really know what statistics mean have recently pointed out that we don't really know what the level of jobs and unemployment is. It will be years before we have a precise estimate. Government agencies, press pundits, political critics, are all building houses on sand and spouting hot air. But, we expect our president to do something about the problem, so everyone has to say something, whether there is a sound basis to it or not.
I never thought I was capable of sarcasm, but I guess I finally got the hang of it.
I'm relieved to hear it. For a moment there, I thought you were offering George W. Bush as a competent president who could balance the budget, and build a sustainable economy that didn't rest on popping bubbles. Good to know you really know better.
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