The good news to day was that The Obama Administration managed to get Umeployment down to 8.6% from 9%. AP:
Small businesses that were skittish about the economy this summer started hiring in bigger numbers this fall, helping drive the unemployment rate down to 8.6 percent in November, the lowest in two and a half years.
The country added 120,000 jobs in November, the Labor Department said Friday. The economy has generated 100,000 or more jobs five months in a row — the first time that has happened since April 2006, well before the Great Recession.
“Something good is stirring in the U.S. economy,” Ian Shepherdson, an economist at High Frequency Economics, said in a note to clients.
The stock market opened higher after the unemployment report came out. The Dow Jones industrial average climbed 48 points, good for a weekly gain of 836 points. The only bigger point gain in one week was in October 2008.
The report, one of the most closely watched economic indicators, showed that September and October were stronger months than first estimated. For four months in a row, the government has revised job growth figures higher for previous months.
Unemployment was 9 percent in October and has been stuck near or above that level for two and a half years. The last time unemployment was this low was March 2009, two months after President Barack Obama took office.
“Now is not the time to slam the brakes on the recovery, right now it’s time to step on the gas,” Obama said. He encouraged Congress to extend a tax cut that applies to 160 million Americans but is set to expire at year’s end.
But as excepted, the racist right isn’t having it! Here are the many examples of the idiotic racist right falsely accusing President Obama are “number cooking”
The point is, are they right…HELL NO! That facts are this. These racist, bigoted liars have spent three years pandering that President Obama as a failure in EVERY aspect! But God forbid President Obama does a good job, manages to keep at least ONE of his promises and makes the GOP look like the lying, pathetic trolls they are, they want to call BS! They want Obama to be a failure! These racists firmly believe that he must’nt succeed in fixing this country THEY tanked for something must be wrong!
There IS something wrong…WITH THEM!!
Yes! The total workforce in America is 153 million (the unemployment rate of 9% accounts for the 13.7 million people out of work). Now for the unemployment rate to drop to 8.6% 612,000 people would have had to find jobs. But the administration says about 120,000 found a job and that an additional 100,000 just gave up looking for work so they just don’t get counted anymore. Hence the 315,000 fewer job seekers.
American workforce: 156,000,000
unemployment rate of 9%: 14,040,000 without work.
Unemployment rate of 8.6%: 13,416,000 without work.
Difference between the two: 624,000
No longer looking: 315,000
New jobs: 120,000
624,000 – 435,000= 189,000 seems to be missing in the numbers.
it may not reflect all the unemployed who have given up looking for work. But guess what? that’s how it’s always been so the same holds true for when the Republicans would say “we only have 5.6% unemployment when the reality was it was much higher.
So exactly what is the point of this other than they are desperately trying to prevent Obama from getting even the slightest trace of praise for a glimmer of hope in the economy. If I didn’t know better, I would think they want Obama to fail so badly, they hope for the economy to fail.
Were they ever educated on what happened during the Reagan years. He doubled the budget and the deficit and kept the tax rate at 50% until the last two years he was in office and the recession has been over for at least 3 years or more. Again, stop listening to talk radio, turn off the tv and take a trip to the library. It is an ignornat man who forms his opinion based on political ideologies instead of facts. These facts are documented in GAO reports that are non partisan, and the Congressional Budget Office which is non partisan, and official federal data maintain at the Government Printing Office website, which is the official portal to obtain federal data. Now, let me tell you, Ive looked at this data for years and the historical data has remained the same for the last 30 years that I’ve looked at it. Don’t say something dumb like, “Obama changed the data.” LMAO
Also know that from 1944-1949, the federal debt was a higher percentage of GDP than it is now. Most of the time it was about 25% higher up to 121% of GDP. Now, think what was happening during those years compared to now, and guess what the tax rate at times had an upper tax bracket at times of 94% and they didnt have all the loopholes and deductions we have now and the economy grew by leaps and bounds.
Now, I do agree that we need to gain control over medical entitlement spending or its going to tank us, but based on what I said go to the library and do a little research and figure it all out. I know my postings are not going to win friends and influence people but I am just so tired of misinformation and how easily people are brainwashed by the media.