131,000 jobs were lost last month and the figures for June and July were revised to show 97,000 more jobs were lost than originally reported. So says the Federal government. All summer long the President and Vice President have been crowing about the large numbers of jobs created and saved by the economic policies of the White House. Are we being lied to?
When the President pushed for his one trillion dollar stimulus bill- interest included- claims were made unemployment would plateau, more jobs would be created, people would not lose their jobs, the sun would shine forever, and all would be well in the world. Can you say hallelujah!
The unemployment rate- officially- stands at 9.5%. When you include those who are no longer seeking work that rate can be multiplied by 1.5-2 times. The government never reveals the true unemployment rate. Roughly fifteen to twenty twenty percent of the population is out of really out of work.
Yet the White House Mighty Wurlitzer plays on. Its constant refrain of Happy Days are Here Again is like the Song that Doesn’t End. The Stimulus Bill was a failure of monumental proportions. It is now a trillion dollar debt albatross hanging around our already burdened necks. Obama and Biden keep joyfully singing in the rain.
More burdens and misery are on the way. The Wall Street regulatory bill will be another disaster, creating uncertainty all across the business and commercial spectrum. The so called Health Care Reform bill is shaping up to be an economic disaster. When Obama allows the Bush tax cuts to expire, every single American will pay higher taxes- especially the withholding tax, which will take more money out of working people’s salaries. Money needed to buy necessities.
The destructive effects of the Obama economic policies are being felt on every level. He has finally accomplished equal outcome- all of society is sharing the pain and suffering equally. It must be the new philosophy of socio-economic justice the progressives demand.
Forget the economists, fuzzy brained policy wonks, and air head academics. Mainstream- Main Street- Americans know the economic policies have failed miserably. They see it everyday. They feel it. The President drove the economy into the ditch. There is not a tow truck in sight and AAA is out to lunch.
The President and Vice President keep gunning the gas, shifting in drive and reverse, digging us deeper and deeper into the muck. They are hoping, against all hope, their grand delusion will get us out of the ditch. They are just spinning their wheels.