Five Years of Obama, Jobs Still in the Tank
Let’s look at some simple facts about how much improvement Obamanomics has given us in the job market after five years.
- The number of Americans who are capable of work but have chosen not to work has risen from 80,507,000 to 90,609,000, the first time it has ever topped ninety million. Ten million more people who are capable of working but are not working.
- The unemployment rate has improved, though not much. When Obama took office, it was 7.8%. Now it is 7.2%. Roughly one-tenth of one-percent improvement each year he’s been in office. Keep in mind, though, that the unemployment rate only measures those who are looking for jobs and can’t find them. The larger truth in the first figures shows that a lot fewer people are looking for jobs. The unemployment rate excludes everyone who has simply given up and stopped looking, and it excludes everyone who is still looking but has been looking so long that he or she is no longer eligible for unemployment benefits.
- The overall number of Americans actually employed has increased by over two million people.
- But the percentage of women in the labor force has dropped from 59.4% to 57.1%.
Where are the Obama jobs?
Witb so many more people choosing not to work, one might ask is the Obama economic plan working, especially when you consider that trillions of dollars have been created out of thin air and pumped into the economy? Is the Obama jobs plan working any better than the Obamacare website? It’s gotten some people work, but the results are lackluster for the enormous amount of money that has been created to try to stimulate jobs. The patient is basically flatlining. Mostly, Obama has bailed out bankers, but how many of them has he put in jail for having created this mess? The overall results look a lot like the same old crony politics we saw in the Bush administration. Banks are now flourishing again, but very little benefit has “trickled buy zolpidem tartrate online uk down” to the masses.
Those who have followed me here, know that I don’t tend to be harsh on Obama, so I’d be perfectly willing to give him credit if the economy were improving. But where are the results? It’s been long enough now that that is a fair question to ask. Yes, Obama inherited an enormous mess from George Bush, but the mess is hardly any better than it was, unless you are banker playing in the stock market.
Many of those who have dropped out of the labor force are retiring baby boomers, so the fall-off of willing workers is not all Obama’s fault or even the economy’s fault.Even so, the job numbers smell of five years’ stagnation. The big fish are thriving, but the little fish are still floating sideways in the pool. What will happen when all the money pumps that are trying to inflate the economic pool with liquid cash run dry? Consider how trivial the results have been even while all the new money was being pumped in. The largest amounts of new money every created by the U.S. have accomplished nothing more than keeping the bottom from falling out further.
What’s supporting the stock market? Every time the Fed breathes so much as a hint that it may slow the money pumps down, the market starts to quiver. This dependency on the money pumps along with the nearly complete lack of improvement after so many years of pumping in money certainly says to me that this economy has no foundation; so, as soon as the pumps stop, it will crash. It’s just another illusionary bubble. This time, the bubble is the stock market, which is floating on a banker’s cesspool of easy cash … but only easy cash for large national banks, not for anyone else. The whole market will flush away as soon as the money pumps that are creating cash out of thin air … stop.