
A month ago, the jobs report for July exceeded expectations are generated a new round of economic optimism. This morning, the jobs report is largely the opposite, falling short of expectations and offering another sober reminder about the long slog.
The new figures from the Bureau of Labor Statistics shows the U.S. economy added 96,000 jobs in August, short of the 125,000 expected. The unemployment rate dropped from 8.3% to 8.1%, and while that may seem encouraging, the figure is misleading -- the "improvement" isn't the result of more jobs; it's the result of fewer people in the workforce.
As is nearly always the case, there was a gap in the public vs. private sectors -- American businesses added 103,000 jobs last month, while the government shed another 7,000 jobs. In terms of revisions, what makes today's figures especially disappointing is that both June and July totals were revised in the wrong direction.
For context, I'd note that so far in 2012, the economy has created 1.11 million jobs -- 1.2 million in the private sector -- which isn't even close to being good enough, but the total is already better than five of the eight years of the Bush/Cheney era.
Above you'll find the chart I run on the first Friday of every month, showing monthly job losses since the start of the Great Recession. The image makes a distinction -- red columns point to monthly job totals under the Bush administration, while blue columns point to job totals under the Obama administration.
Update: Here's another chart, this one showing monthly job losses/gains in just the private sector since the start of the Great Recession.






Ok, lets get something straight. Job number is a bit down....Who cares? Its POSITIVE job growth. It has been for some time. It's going to take a bit at this rate to recover from the insane amount of jobs lost under Bush. Negative is bad. Positive is good. Keep repeating that to yourselves.
The parabolic rise of the chart is telling. It should be to anyone with an honest opinion.
I don't know why any one expected the Unemployment Rate to go down or why there to be more new jobs. What exactly has Obama done to create new jobs in the past three years. Will Obama got his stimulus, hundrens of Billions of Dollars to create jobs. And what jobs did it create? A good portion went to Tax Cuts, NO NEW JOBS there. Another good portion went to states to support Public Sector Unions, that didn't result in any NEW JOBS. Then again some went to those Green Energy Companies, Solyndra, Beacon, and ENR-1, again NO NEW JOBS. And then there was those Shovel Ready Jobs, once again NO NEW JOBS.
Only the Government can spend 850 Billion on creating jobs and end up with a NET LOSS. And the Democrat answer is to spend even more money. Folks it didn't work the first time.
By the way, what happened to the Democrat push to extend Unemployment Benefits? Are the people on Unemployment today less worthy of extended benefits than those on Unemployment two years ago? I think it is interesting that when people run out of Unemployment Benefits they drop off the workforce and the Unemployment Rate drops. Could the Democrats have abandon their drive to extend Unemployment Benefits so these people would be dropping out of the workforce and the Unemployment Rate would drop before the election? I wonder what the Unemployment Rate would be today if Unemployment Benefits were never ending?"No They Couldn't, It is Time for Change".
You are so wrong on so many fronts.
First, the Recovery Act was not meant to be a long term economic growth machine but the engine to stimulate economics growth, which it did. See the above chart.
Second the funds went to the states via grants, loans and other projects that the governors of the states and other organizations in the states applied for. For example in Ohio where I live, we received $8 billion in Recovery Act funds. Those funds stabilized our economy through jobs being created by the state contracting out for services that it needed to be done. It is a political lie by Republicans that this money went to support public sector unions. It is a lie and those who state that are ignorant of the facts and need to go to www.recovery.gov to find out how the money was spent in their states.
According to the CBO, the Recovery Act saved or created 3 million jobs. That is a fact. Now one can dispute empirical factual data, then that would not make the person debating the facts look very intelligent.
To state that they were No new jobs created or they were not shovel ready jobs is just plan ludicrous and not even factual. In my travels to school these past three years in Akron, Ohio, I had to pass not one, not two, but three large scale projects in just the 5 mile trip it took me to get to campus. And that is not counting the numerous highway, bridges and roads projects that have taken place and are taking place in my county.
So when you state your opinion on a topic, that is one thing. But Sir, when you do not include facts with your opinion, your statements are nothing more than words on a page that carry no weight.
Well said Michael.
Second that.
Michael, I live in California and the money went to the Public Sector Unions here. Also you say "Create or Save Jobs", whos jobs were saved? The answer is Public Sector Union jobs were saved. Obama said himself "Those Shovel Ready jobs weren't So Shovel Ready". If the first stimulus addressed the infrastructure problems why is Obama asking for more money to Fix the Infrastructure?
In order to have a filibuster in the Senate, first one must put forward some type of lesislation like a budget that can be debated and amended by all parties.
True. And Republicans have even filibustered their own ideas when presented by Democrats. So that tells you they never intend to bargain in good faith.
Hey Michael
Is the reason why the Democratic senate has not come up with a budget in
over 1100 days is because of a Republican Fillibuster also????
Why not? They set a record for the number of filibusters against getting this country moving forward again, why not a budget? Or we could go with Paul "Ly'in" Ryan's budget plan which kills off the middle class and senior's medicare.
...................
I think the unemployment rate can easily get down to 7.7 by November if more people just quit looking for a job and aren't counted. This has been the trend for the last 10 months. Definitely working to the President's advantage.
Unemployment would have been down three yrs ago if the tebaggers had worked with the Dems in congress.
no it wouldn't have. thats absurd.
No, a record number of filibusters including jobs bills is absurd.....And anti American.
Notice benen's graph starts in Feb of 2008.
Notice his graph does not show the growth under GWB, only the lies of job creation under obummer.
Fact is there are fewer people working today than when obama took office.
Notice benen never shows the graph of the number of companies in Jan 2009 compered to today.
He will never post a chart showing the fact there are fewer compaines today than when obama took office.
More left wing lies.
Good point on the few companies statement. President Obama is teaming with General Electric and his "Job Czar" GE CEO Jeffery Immelt to move jobs to China and India via tax payer funded stimulus and bailout courtesy of the American Recovery and ReInvestment Act and bank bailout. GE Xray Waukesh Wisconsin, I fee your pain.
You have no idea what you are talking about. There is that big "A" chart staring you right in the face and you still don't believe what you are seeing? That my friend is delusional thinking on your part when empirical data is presented to you and you still cannot accept it as factual.
Fact there are fewer people working today than when obama took office.
The unemployment rate is over 8% and has been for the past 3 1/2 years.
Do the math.
So going back to GWB's policies that were losing 800,000 jobs a month is your ideal of making things better.
1st is was the housing bubble that caused the job loss.
But then again you think Hoover caused the 29' crash.
Just love these special ed show liberals.
Except it was Hoovers policies that lead to the market crash of 29 just like it was Reagans policies that lead to the 84 market crash. Really moocow you need to go back to school and learn 20th century history because you know nothing about history.
Johnny, you know exactly what he means. A CEO should not pay federal income tax at a rate lower than his secretary. The Bush tax cuts on those earning more than $250,000 a year should be allowed to expire, while those on the middle class and working poor should be renewed. It's not rocket science, and it's not an unfair burden.
It's called arithmetic!
Then why didn't the democrats in the last 4 years or the democratic House and
the senate at the time make CHANGES in the TAX Structure
Then why did President Obama in the last 4 years or at the time the Democratic
House or senate make a proposal to change the Tax Structure for Capital
Gains???
Remember 2009 Patty? The bush tax cuts were about to expire raising the tax rate back to 39% for the top 2%? And what did the teabaggers do in Dec of that year? Remember what they did? They held the middle class hostage by refusing to extend unemployment benefits to ppl out of work at Christmas time unless Obama extended those bush tax cuts for another two years. Nice bunch of pricks you hang out with Patty.
John= a flat lie. in 2009, the GOP had NO power to stop ANYTHING. OBama could have raised the taxes...at that time, NO ONE wanted to, because of the upcoming mid term elections...liberals were scared to raise taxes right before an election (they are always scared to make the bold move)...
Congress- Dem controlled congress- could have raised them if they wanted to.
Are you mentally challenged?
LOL...not exactly...but apparently you are factually challenged...Dems controlled the House till the end of 2010. thats a fact. they also controlled the Senate with 59 until early 2010, when Brown came in for Teddy Kennedy...(and 5 more seats later in 2010) that gave Dems pretty much 2 years...not sure where the difficult part in that is to understand...but you are doing a good job of over-complicating things...
Steve - You keep referring to the Great Recession. The correct term is the Bush Depression. Get it right!
For those 103,000 people who found work...congratulations! Sorry that 7,000 public employees lost their jobs. Republicans are cheering that 103,000 found jobs and 7,000 lost jobs. That is a sick mentality have!
Most sane intelligent Americans are getting it! They are seeing the president and Democrats trying to help our nation recover from decades of failed trickle down economics, yet they also see Republicans standing in the way of progress, blaming the president for everything. Republicans act as if they are not Americans, that being legislators they don't have any responsibility for doing their job, which is to do what is best for the nation in a time of crisis and not what is best for their party's election chances. They need to called out for their treasonous acts they have perpetrated on our nation by the media but the media doesn't have the guts to do so. Why? Then it would look like they are promoting a conspiracy with them being perceived as taking sides. Well, they need to report the truth and worry about the backlash later.
We have turned the corner! I getting tired of this microwave American mentality that believes all problems, no matter how large and no matter who structurally they are entrenched in our economic system, can be fixed in the time it takes to pop popcorn in a microwave.
Pay attention because I am only going to say this once! We were losing almost 800,000 jobs a month during the last months and into the first six months of this administration. And now we have turned that around! Read the darn chart!!! Could it be better? Heck yea! But would you rather it be like it was in November of 2008 we our nation lost trillions in wealth, the credit markets dried up, housing prices began to go through the floor, banks were on the brink of collapse? Not to mention we were involved in two military wars that we were borrowing money to pay for thanks to Bush, Ryan and Boehner and the rest of the Republican cabal!
Stop whining! Stop acting as if this president was supposed to wave some magic jobs wand and POOF! 23 million people had jobs! In the real world it doesn't happen that way. In Republican land, maybe. But that is a totally alternative universe.
What the two conventions showed the nation was the progress that has been made by this administration to recover from the incompetence of Republican rule and how the Republicans don't have any plans that they are willing to share. The debates will be the determining factor in this election.
The RNC was nothing about Romney. It was all about the hatred they have for Obama. That hatred has blinded them into losing this election.
We're all waiting for the debates. And the public humiliation of Romney. Even Perry made him look stupid.
We Are Better Off Part II Choose That Future!
I saw the top ten political speeches of my lifetime at the Charlotte Democratic Convention and if you STILL don't think we are better off than four years ago then remember this...'W' was still 'the president' four years ago! Nuff said!
Not only did the Democratic Party prove with facts and figures that we have begun to fix the horrendous mess the Republicans had put us in, but the Democrats proved it with body and soul as well! If you weren't inspired by Lilly Ledbetter then you're crazy! If Gabby Giffords didn't make you cry and determined to fight hate and bigotry then you're heartless! And while the Democrats put our brave members of the Armed Forces in center stage of their convention, the Republicans forgot they existed!
And if you didn't see the best president and vice president with the most perfect spouses and families...sorry, but I think you're lying!
LONG LIVE AMERICA! FOUR MORE YEARS! FIRED UP, READY TO GO!
TheDixieDove
http://thedixiedove.com/
You need your own comedy show.....
Like the Robme/Ryan comedy tour?
Like the scott "I'm not a racist" show.
some of you can put a silver lining around this steaming pile of poo, but I'm not standing for this anymore. It's time for a change.
The Chart Shows That We're Headed In The Right Direction.
http://www.facebook.com/photo.php?fbid=518386974854471&set=a.288569431169561.90567.100000495180088&type=1&theater
Jack.watch the gold. The higher it gets tells all about.the.state of the economy. It's not good!
No moron, it just tells you how many paranoid lunatics aka Chicken Littles we have.
Question?? How is the POTUS suppose to create jobs? He doesn't own one company. Outside of the POTUS and his cabinet negotiating with these companies HOW IN THE HELL IS THE LACK OF JOBS HIS FAULT??????? maybe i am ignorant to how this can be remotely logical... Outside of the POTUS going in and strong arming every company that made profits in the millions, billions and trillions and force them to give money back and hire. How is this logical ?? Are you complainer saying the POTUS should be the CEO of every company or business to govern as well as run the country..?????
Help me understand PLEASE!!!!
and yet, you probably blame Bush for the recession starting...
its all about regulation. over regulation. there are 5 TIMES the number of regulations placed on businesses today than when Bush was in office, and there are thousands of regulations in the pipeline right now. businesses are terrified to do ANYTHING right now...there is NO incentive to hire...highest tax rate in the world for corporations...small businesses wont grow because of OBamacare requirements...
it all comes back to regulation...OBama and his cronies picking and choosing winners...its that simple.
The Fox news parrot arrives.
nice logo, btw, John...i love the Steelers. can't wait for a little revenge in Denver on Sunday...
not sure what you mean by FOx News parrot...i watch more MSNBC than FOx, so I am not sure what I have "parroted"...if I Happen to say some things they say on their network, its probably just because great minds think alike. :)
enjoy the game.
I don't think it qualifies as "thinking."
the economy is still growing so slow that a newly graduated social worker like myself cannot find my first job post MSW graduation. This includes even per deum positions. This is partially because the market is so competitive with people who have been unemployed and have more experience than myself. It is making me frustrated, because i placed so much effort into finding work and have had all rejections. I am still supporting Obama because i think he would do the better job, but I'm getting scared about my current student loans since this is taking so long. i do not want a dead end job like dunkin donuts when i am so over qualified.
I am still supporting Obama
Mistake #1...
i do not want a dead end job like dunkin donuts when i am so over qualified.
Mistake #2...desperate times call for desperate measures...better to take A job than no job...just because you start there, doesn't mean you'll end up there...
good luck in your job search...to increase your chances, vote for ROmney so companies hire people again!!!
Remember, this is a Republican telling you to get a job at Dunkin' Donuts.
A Republicans idea of a "good job." And all you can expect from Romney.
I still have to ask: the "Job Creators" have everything they want except a Republican president. Tax cut, booming stock market, increasing freedom from foreign oil, corporation subsidies intact, etc.
WHERE ARE THE JOBS? WHY ARE THEY MILKING THE FEW EMPLOYEES THEY KEPT?
Oh,wait . . . they got their feelings hurt with Dodd/Frank. Tsk, tsk.
Princess, you have to have a need for the employee's first(increase in sales or service) Business's don't just hire people for the hell of it. I know that's not what you want to hear but that's how it works. J.Biden talked about GM hiring more workers, that's because GM started selling more cars.
Day 3 more LIES
FactChecking Obama and Biden
Posted on September 7, 2012
CHARLOTTE, N.C. — In a rousing double-header, Democratic delegates heard Barack Obama and Joe Biden both accept renomination on their convention’s final night. And we heard some facts being spun.
metoo give it up, your dealing with BOOK ENDS. The haven't a clue what your saying. But within a month, they will. All the indicators are showing a collapse on Wall Street and Banking. They don't have to believe. There's many reasons for it. Gold is.your.biggest.safe haven.
I agree you tea bagged republicans keep thinking you are at free republic posting Fox news made up garbage. Really can't get more like a book end then by being a tea bagged republican who believe going back is going forwards.
Here are some undeniable facts about the Romney/Ryan budget proposal. We know that Romney seeks to cut about $5 trillion over ten years with most of these cuts coming in entitlements, Medicare, and programs that make up discretionary domestic spending. The Romney/Ryan budget plan will "voucherize" Medicare making it go bankrupt by 2016. Seniors will have to spend at least $6,000 annually for the same medical services they get now. Medicaid and other help for families with autistic or disabled children will face financial ruin under the Romney cuts. Romney/Ryan seeks to make the Bush tax cuts permanent and give even bigger tax cuts to millionaires and billionaires. The military budget will also increase under Romney/Ryan.
Romney/Ryan offer no specifics on how any of this will be paid for. Average middle class taxpayers in the $50k income bracket can expect at least two thousand dollars increase annually. We know that people with incomes of about $3 million can expect at least a $200,000 tax break under Romney/Ryan. The Tax Policy Center has looked at Romney/Ryan budget. The Tax Policy Center said it is hard to quantify many of Romney's proposals for broadening the tax base let alone analyze the impact of his tax plan because a lack of specific data over all. Even under the best of scenarios the Romney tax plan does not explain how the Bush tax cuts, reducing the corporate tax rate from 35% to 25% and other tax reductions will be offset in the budget. All that we can assume is that the Romney plan is poorly thought out and the experts at the Tax Policy Center have concluded that Romney's tax plan is a work of fiction where the numbers do not add up. We can only assume that conclusions like this will only mean trillion dollar budget deficits for many years into the future under any Romney administration.
"...//www.taxpolicycenter.org/taxtopics/romney-plan.cfm"
Here is a statement from the Center for Budget and Policy Priorities website from Robert Greenstein on the Ryan Budget proposal:
"The new Ryan budget is a remarkable document — one that, for most of the past half-century, would have been outside the bounds of mainstream discussion due to its extreme nature. In essence, this budget is Robin Hood in reverse — on steroids. It would likely produce the largest redistribution of income from the bottom to the top in modern U.S. history and likely increase poverty and inequality more than any other budget in recent times (and possibly in the nation’s history). It also would stand a core principle of the Bowles-Simpson fiscal commission’s report on its head — that policymakers should reduce the deficit in a way that does not increase poverty or widen inequality."
"...//www.offthechartsblog.org/greenstein-on-the-ryan-budget/"
Here is another quote from the CBPP website about the Ryan budget cuts impact on programs for the poor and middle class:
"The Ryan budget would get at least 62 percent of its $5.3 trillion in nondefense budget cuts over ten years (relative to a continuation of current policies) from programs that serve people of limited means."
"...//www.offthechartsblog.org/ryan-2/"
We should call the Romney/Ryan budget "the Frankenstein monster budget" that butchers the American middle class whose demand makes our capitalist system function. If you want the American middle class taken to the slaughterhouse to be butchered and have a plutocracy installed where the rich get richer and the rest of us live in a cesspool of slums and poverty, Romney/Ryan will make you very happy. Vote Obama/Biden 2012 and a straight Democratic ticket because American families deserve better.
Notice those graphs do not show the number of people in the work force.
Ever wonder why that is?
Due to the fact they are fewer people in the work force today than in Jan 2009 when obama took office!!!!
The lefty's always playing games with the statistics.
Ever look at the over 8% unemployment rate?
Obummer has not added 1 job!!!!! he is down around 5 million to date.
When you add to something, it means you have increased the number, fact is there are fewer people working today than in Jan 2009,
But keep up the smoke & mirrors act.
Moocow: More GOP cow pie talk from a brown noser like you. The Romney/Ryan budget will butcher middle class Americans while giving millionaires and billionaires more tax cuts. Medicare will be destroyed under the Romney/Ryan plan replaced by "voucherCare". Romney seeks to get over $5 trillion in cuts mostly from domestic programs we all rely upon: Pell grants, student loans, SNAP/food stamps, and a whole array of federal aid programs to state and local governments will just be erased permanently. The smoke and mirrors is the GOP doubling down on trickle down will make everyone fully employed. We did the GOP way for ten years and all we got was the worst recession since 1929 with stagnant job growth and trillion dollar deficits and a doubling of the national debt. The GOP way is the way of national economic suicide. Vote Obama/Biden 2012.
Don't forget that during Reagan we also had a major recession that the republicans did their way with the result of major inflation. I know because I was able to invest in a Jumbo CD and got 12% interest for 1 year. Mortgage interest rates went as high as 18%, and job growth was stagnant for a long time. there were other factors under Reagan that started the set up in 2008, which were continued in succeeding administrations, and when the Republicans got complete control under Clinton, they really started going to town.
Time for a CHANGE to move FORWARD.
Let's not forget there are jobs out there, get training people.
there are job out there, correct me if I am worng
UGH!!
When I saw this number I wanted to scream. The last thing we need is something like this Romney and Ryan (the evil duo) can twist and turn into scaring voters into putting them into office.
twist??? what is there to twist??? the unemployment picture is awful. not twisting anything by saying it...lowest job participation since CARTER...11.2% REAL unemployment...what is there to twist???
I am not scared of Romney and Ryan, and will vote for them- TWICE (if I could)- in November, and they WILL be voted into office...
Teabaggers own this economy. You just refuse to see it. A vote for Romney IS a vote for Bush. Thats right you voted for him twice also. Feel stupid yet?
nice logo, btw, John...i love the Steelers. can't wait for a little revenge in Denver on Sunday...
I HAD to vote for Bush...i couldn't vote for psycho Al Gore running around with his bogus hockey stick and "earth fever" talk...and Kerry??? come on...that was a Dukakis-esque candidate the Dems put up...
Bush is much more like Obama than Romney is...thats why i soured on Obama so fast- he was just like GWB...He took the PATRIOT Act and put it on steroids. he took Bush's insane spending, and spent even faster...Bush abandoned the free market with TARP, Obama with the Stimulus...they are 2 sides of the same coin, John...
no, I don't feel stupid...thanks for the insinuation. thats a pretty classy comment. i actually owe a lot to Barack Obama...hie "leadership" has taught me that this is about SO much more than "D" and "R"...they have boith been wild progressives (except for Reagan), and its got to stop. my vote is a vote for the future, to get SMALL GOVERNMENT guys like Paul Ryan and Marco Rubio into the fold going forward. I am not ecstatic of Romney, I admit...but I am voting FOR ROmney, rather than AGAINST Obama, because of Paul Ryan, who is brilliant...
thanks, enjoy the game Sunday night.
We have to take these new job figures in stride and understand what the United States is up against. We have many long term structural problems that have come home to roast. The new normal right now will be continued sluggish job growth for decades to come until we take on our long term problems. We need to take a deep breath and start understanding what these long term problems are. Here are the major reasons hiring right now is sluggish in America. Smart people on this blog may have their own lists of problems to add to or modify what I write here:
1. Our health care system is a huge dead weight on hiring. It costs employers way too much money to hire full time workers because our health care system is too expensive. In 2010, our health insurance premiums cost nearly $13,000 for a family health insurance policy. Health insurance premiums have been increasing at about three times the rate of normal inflation. We could possibly see health insurance policies rise to $26,000 annually for a family policy by 2020, especially if the Affordable Care Act is not fully implemented or repealed as the GOP wants to do. We need a Medicare for all public option made available at the insurance exchanges in 2014 in order to stay competitive against countries that have more efficient single payer. This is not about welfare this is about our national economic security.
2. We must get rid of imported OPEC oil forever. We subsidize fuel to the level of $11 to $15 per gallon. The environmental costs, health care costs, and the military costs of imported fuel are killing our economic growth. We urinate away at least one trillion dollars annually overseas due to all the costs of imported OPEC oil. America must become like Angela Merkel's Germany building solar panels, wind farms, smart grids, biomass fuel projects, bullet trains, commuter rail and other mass transit systems. We need to build electric hybrid and all electric cars in America. Our media has done a terrible job about explaining the costs of imported oil. The Iraq and Afghanistan wars cost $4 trillion long term. The U.S spent $7.3 trillion on aircraft carrier task force groups in the Persian Gulf from 1976-2007. Germany's bullet trains, solar, wind, and mass transit projects make Germany more secure because Germany does not need to spend any money on a military to secure its energy.
3. We need year around school for our kids. We need three months off in the summer like we need a hole in our heads. We are an urban society not an agricultural one anymore. Even agricultural states need grown up adults running the expensive machinery because its not a job for children. If you listened carefully to President Clinton's speech you will here much that is cause for worry. We have slipped to 15th or 16th place in the number of young adults 25-35 with a college degree or at least an associate's degree. We can not afford to compete in the 21st century global economy. If we had more investments in community college and trade apprenticeships, we could have three million more Americans working in high technology jobs. We have to have year around school and by age 16 those who are not going onto four year colleges need a poly-technical system, similar to Germany where high paying blue collar trades are taught to our young people.
4. We need to invest in infrastructure programs that build our way towards a better future. Much of America's infrastructure is out of date, over used, and rapidly deteriorating below safety levels. Our antiquated roads, bridges, airports, railways, and other transportation infrastructure costs businesses and commuters hundreds of billions of dollars annually. Our water mains, sewer lines, dams, levies, and flood control infrastructure are inefficient and old causing the wastage of much precious fresh water. Our power grids need to be updated and put underground wherever possible in urban areas. Our mass transit systems, buses, subways, and commuter rail need modernization and expansion. The American Society of Civil Engineers has our infrastructure needs at $2.2 trillion over the next five years. This figure is just for maintenance not for expansion.
We need to take a deep breath, exhale, and start thinking about long term strategic planning for America. We need to concentrate on making our society and country more competitive in the global economy of the 21st century. We have to build and educate our way out of our problems. Please start looking beyond monthly job figures and start thinking about the ferocious economic competition we face in the 21st century and how we need to adapt to it.
Please support Obama/Biden 2012 so we can build a better country for our kids and grand kids. There are no quick fixes to America's problems just lots of cumulative sweat, toil, and sacrifice but together under President Obama we can start to turn our country around for renewal and growth. This is what hope and change look like in the 21st century global economy.
After 6 years of Bush we were loosing 300,000+ jobs a month thanks to the republician manic deregulations to kiss the ars os big business we were on the verg of the worst financial mess going back to 1929 guys like Bernie Madoff were found every where we were in the grasp of 2 fake wars that were not paid for.Now Mitt Romney wants to reward the same people the same way Bush did by giving tax cuts to the guys who sent our American jobs to Communist CHINA or other 3d world countries were people live in cardboard and tin huts and have no drinkable water and expect the American working Men and Women to compete.Under Mitt my home state saw a increase in unemployment and lost jobs he raised fee,s on many state license,s and registrations raised the tuition at state schools this was bad for working class people and the poor AT the same time he was giving tax breaks to the well off .
How do the GOP think that they can blackmail us by obstructing passing any jobs bill to help us, then blame Obama because of low job numbers. Pass a bill B!T(#! I'm tired of hearing the same stupid s#!t about all the American people out of work. Pass a bill B!t(#! They won't pass the transportation bill or the jobs bill, blackmailing us for more money. How stupid do they think we are? Congress and the GOP need to check themselves!!!
The Republican Legacy
In 2005 2.1 million homes were started, in 2011 that figure had dropped to .6 million homes started. That drop of 1.5 million in starts removes 400 billion dollars a year from our economy, that means 4 million jobs* and up to 20% of the unemployment.
And, who got us here? Bush, the Republicans and loose banking regulation.
Republicans assert that Obama' has not fixed the unemployment problem. Is that the real problem? Unemployment figures are distorted by one key economic segment - housing construction. 25% of unemployment rises here and no one is going to lower the unemployment percentages until it recovers. The impact of the housing collapse on unemployment was not recognized when Obama came into office.
In 2005 over 2 million homes were started, in 2011 only 600,000 homes were started. The one and a half million homes at 2005 prices approximates 425 billion a year (a trillion dollars every 2.5 years).
This accounts for 4 to 5 million jobs. Many people in the housing industry are self employed and don't show up in the unemployment stats. At least 1/3 would be counted as employees and show up in the stats, they are the 1st to go and last to return as owners do what is left. This is the real issue, not unemployment as we have known it in the past. Remove this and public sector layoffs and we would be down to @ 5% to 6%