Friday, August 03, 2012

Jobs Report a Bummer

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The unemployment rate edged up to 8.3% making the the 42nd straight month with the rate over 8%. There are only 3 more reports before the election and if I were a betting man I'd say Obama claims 15-million dropped "off the rolls" and the rate will be 5.2% on election day.

Anyway, this is horrific for those without jobs or under-employed. When the rate goes up, there's no hope and when there's no hope the mood in the country sinks contributing to the spiral that makes the economy tank.

Here's that now-familiar graph showing where Obama said we would be after spending $750-billion on a stimulus that only stimulated his cronies and green jobs hucksters (but I digress) and where we actually are in reality. Three quarters of a million greenbacks down the shitter with nothing to show for it except pain and misery:

Note we are 2.3% above where Obama said we'd be if we did nothing, which was the preferred method or cutting taxes and spending would have been nice as well. Also note the green, which is the rate we'd be at if people supposedly hadn't given up and quit looking for work.

This is devastating and the spin sounds hollow no matter what the media says. America is hurting and Obama doesn't even have a clue how to begin saving our economy.  However, if blaming your predecessor and meeting with your jobs council once in six months is now considered "laser focus", I stand corrected.

I'm going on the record and saying Mitt wins by 6%.

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