Goodmorning Blogmocracy Netizens! It’s Friday and hopefully everyone had a great week. I have to be the bearer of bad news this morning.
The Media has proclaimed the recession is over because the 3rd quarter GDP numbers were 3.5%. The Progressives are proclaiming this is the greatest economic boom ever. However, this is not the case. Although Wall Street is on a roll, Main Street is suffering and Obama has no economic proposals to alleviate this. Instead of pursuing policies to that will induce Investment and job creation in America, the opposite is occurring. Obamacare and the Cap-N-Trade scam will burden American workers and small businesses with extra costs. Progressives don’t care, as long as their vision of change is fulfilled, they will spin everything as an economic boom!
WASHINGTON (AP) — The unemployment rate has surpassed 10 percent for the first time since 1983 — and is likely to go higher.
Nearly 16 million people can’t find jobs even though the worst recession since the Great Depression has apparently ended. The Labor Department said Friday that the economy shed a net total of 190,000 jobs in October, less than the downwardly revised 219,000 lost in September. August job losses were also revised lower, to 154,000 from 201,000.
But the loss of jobs last month exceeded economists’ estimates. It’s the 22nd straight month the U.S. economy has shed jobs, the longest on records dating back 70 years.
Counting those who have settled for part-time jobs or stopped looking for work, the unemployment rate would be 17.5 percent, the highest on records dating from 1994.
Read the rest.
The dirty secret that the Progressive media is not telling the public is that most of these jobs are never coming back. The way forward is to restructure the Tax code so we can induce investment and entrepreneurship in America. New Technologies and Industries are the key to future job growth. We need a Predator type economic policy that takes jobs and businesses from India, China, Brazil and Europe. Our view of other nations should not be thatof trade partners, but as rival Corporations. It’s a global economy and America must play to win. Currently we are losing and it’s the American People suffering.
How’s this great Obama boom working out for all of you?
Tags: Obama Economic Boom, Unemployment
