Hey, “only” 473,000 people filed for first time unemployment checks last week! Talk about green shoots! Talk about recovery!
Talk about “experts” on crack:
“Given that business sales rebounded in July after two months of decreases, companies may hold on to more employees, if not hire more,” he said. “So it’s conceivable that that latest decline in jobless claims will be the first in a series of such declines.”
Must be all that “successful” stimulus kicking in:
CBO predicted that in the fourth quarter of 2010 the unemployment rate would be 8.7% without the stimulus, and between 6.8% and 8.1% with the stimulus package. We haven’t reached the fourth quarter of 2010 yet, but it doesn’t look as if our 9.5% unemployment rate will decline to even the baseline of 8.7% in the next few months, let alone to 8.1% or 6.8%.
One major flaw in the CBO models is the expectation of full employment over the next decade. Unbelievable as though it may sound, in March 2009 CBO wrote, “The effect on employment is never estimated to be negative, despite lower GDP in later years, because CBO expects that the U.S. labor market will be at nearly full employment in the long run.” Try telling that to the 14.5 million unemployed.
Rather, employers’ willingness to hire varies dramatically depending on the costs of employment. The readiness of Americans to look for work is influenced by the ease of finding jobs, as well as by after-tax income, which is affected by tax rates. The increases in taxation and borrowing, both present and future, required to fund the deficit can have negative effects on employment.
When the stimulus package was enacted in February 2009, the labor force participation rate, the percentage of Americans who say they are working or looking for work, stood at 65.6%. Last month it was 64.6%, a full percentage point lower. After some fluctuations, over a million Americans have withdrawn from the labor force since April 2010.
Read both pieces. Then decide what recovery you want to participate in. The Obama-Biden hallucination or the one where you realize that you are being played for a sucker by the Democrats.
Obamanomics does not work. Trillion dollar plus deficit spending does not work. Over-regulation and over-taxation does not work. “Spreading the wealth around” does not work.
Growing the economy, creating jobs and cutting grossly overpaid and obscenely benefited government employees are the only answers.
A vote for any Democrat – at any level of government – is a vote for them to continue their insane spendaholic tendencies.
Time to recover, America. Time to recover America. Vote them out.