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Taking a look at the Obama Economy

September 18, 2012 – 07:44 | by admin

It’s time again to take a look at the state of the US economy under the so called “guidance” of our Dear Leader.

As you can see we are still at an unemployment level that is much higher than what the Obama economic team promised us it would be if the federal government did nothing, and even higher still than what they claimed it would be if we passed the trillion dollar “stimulus” package.  So, not only epic fail on the part of the Obama so called “economic team”, but actual evidence of incompetence is pretty damn clear.

It’s also pretty clear that they are trying to “cook the books” in order to hide their massive pooch screwing of the economy.

Let’s look at that unemployment number of 8.1% for August 2012.  It dropped from 8.3%, with only 96,000 new jobs being added.  As anyone who has been paying attention knows, you need to add at least 125,000 new jobs a month just to keep up with population growth.  So America was short 29,000 jobs of breaking even.  The reason the unemployment number when down is because the federal government stopped counting 368,000 Americans as being unemployed for a variety of reasons, none of which was that they became employed.  One of the primary reasons that people dropped off the rolls of employed was that the people who were being counted exhausted their unemployment benefits.  They are still unemployed, but the feds don’t count them anymore. So in the is case, the reduction in the “official” unemployment rate is an indication that things are getting worse, not better.

Need another example? The Egan-Jones credit rating agency just downgraded the US government’s credit rating.  This is because the Obama regime has initiated a third round of “Quantitate Easing.” Incase you don’t know what that means, the Fed created $40 billion out of thin air and inserted that into the money supply.  So you have more dollars chasing the same amount of goods.  This is bad news for the American consumer.  If you still don’t get it (i.e. you can’t repeal the Law of Supply and Demand), here is a helpful instructional video

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