Worst. President. Ever.

by Matt Vespa | August 3, 2012 4:25 pm

[1]

Unemployment has risen to 8.3%. : Can we safely say that Keynesian economics is dead? : I mean we mention those horrible Bush Tax Cuts that created 8.1 million jobs and 50 straight months of uninterrupted economic growth[2]. No No.

Even though, as Heritage posted in June of 2011:

With Obama, we have spent nearly a trillion dollars on the stimulus, which got us nowhere. : All of the net jobs created are part-time[3]. : We also spent a trillion dollars on a new health care entitlement that will still leave 30 million uninsured ten years from now[4]. : Where’s the beef? : This isn’t hope and change. It’s abject failure.

Guy Benson of Townhall.com posted a good analysis of the economic news today[5]: writing that the:

Hairbrained: attacks[6]: and sample-loaded: polls[7]: cannot insulate the president from economic reality.:  The “good” news in today’s: breaking jobs report[8]: is that the US economy added 163,000 jobs in July — the most in five months, but still not enough to keep up with population growth.:  The bad news:

(1): U3 unemployment ticked: up: to 8.3 percent.:  We have now witnessed 42 consecutive months of eight percent-plus unemployment in America, despite the president’s promise that his $825 Billion “stimulus” program would prevent that statistic from eclipsing the eight percent mark.:  The White House projected that unemployment would now be at: 5.6 percent[9], thanks to the stimulus.

(2): 155,000 Americans gave up seeking work and dropped out of the labor force in July, nearly as many as the jobs gained.:  Overall, according: to CNBC[10]: “The report showed that: the actual amount of Americans working dropped by 195,000, with the net job gain resulting primarily from seasonal adjustments.”

(3): The U-6: “real” unemployment figure[11]: crept up to a full 15 percent.:  The U-3 number (8.3 percent) would be: 11 percent[12]: if Obama had maintained the workforce participation rate he inherited.:  Instead, it has slipped to a three-decade low, perversely “helping” the unemployment rate.:  The U-3 number among Hispanics and African Americans remains in double-digits (10.3 and 14.1 percent, respectively).

(4): June’s paltry ‘jobs added’ number has been revised down from 80,000 to 64,000.

(5): The media and the White House (I repeat myself) will try to spin this as promising jobs data because of the 163,000 number, ignoring everything else you’ve just read.

Quote[13]:: “We tried our plan, and it worked.”

: It’s pure delusion.

Endnotes:
  1. [Image]: https://rightwingnews.com/wp-content/uploads/2012/08/Screen-Shot-2012-08-03-at-4.19.51-PM.png
  2. created 8.1 million jobs and 50 straight months of uninterrupted economic growth: http://blog.heritage.org/2011/06/22/morning-bell-the-truth-about-tax-cuts/
  3. All of the net jobs created are part-time: http://www.usnews.com/opinion/mzuckerman/articles/2012/07/30/mort-zuckerman-under-obama-the-new-american-dream-is-a-job
  4. a trillion dollars on a new health care entitlement that will still leave 30 million uninsured ten years from now: http://www.weeklystandard.com/blogs/cbo-obamacare-cost-1930-trillion-leave-30-million-uninsured_649066.html
  5. Guy Benson of Townhall.com posted a good analysis of the economic news today: http://townhall.com/tipsheet/guybenson/2012/08/03/breaking_unemployment_rate_increases_to_83_percent_real_unemployment_at_15_percent
  6. attacks: http://townhall.com/tipsheet/guybenson/2012/08/02/video_harry_reid_accuses_romney_of_federal_crime_on_senate_floor_with_zero_proof
  7. polls: http://townhall.com/tipsheet/guybenson/2012/08/02/lol_new_poll_shows_obama_ahead_by_ten_pointswith_a_d19_sample
  8. breaking jobs report: http://bls.gov/news.release/empsit.nr0.htm
  9. 5.6 percent: https://twitter.com/JimPethokoukis/status/231370904410660866
  10. to CNBC: http://www.cnbc.com/id/48480887
  11. “real” unemployment figure: http://www.cnbc.com/id/48468748
  12. 11 percent: https://twitter.com/JimPethokoukis/status/231368389543727104
  13. Quote: http://townhall.com/tipsheet/guybenson/2012/07/25/we_tried_our_plan__and_it_worked

Source URL: https://rightwingnews.com/democrats/worst-president-ever/