The Myth of the Obama Boom is over. Wall Street continues to decline as it realizes the emperor has no clothes. The once great and heralded economic boom, doesn’t exist. It was invented by Rahm Emanuel and the Progressive Propaganda Media. Last Friday’s anemic jobs report showed 41,000 private sector jobs. A dismal figure and the one that exposed the lie of the Obama Economic Boom!
This boom in government spending was supposed to produce a boom in the private economy. So far, we’re one boom short. The May jobs report is a perfect distillation of Obamanomics, with its emphasis on short-term help to the economy — the stimulus package, the cash-for-clunkers program, etc. — that is as sustainable as a sugar high.
The headline jobs number of 431,000 looked good, but 411,000 were temporary census jobs. They will soon disappear, unless we want to employ Americans in the counting of one another in perpetuity. The 41,000 new private-sector jobs were about 60,000 short of what it takes just to absorb the natural growth of the labor force.
The driving force in the private economy has been companies pulling back on the liquidation of their inventories, a natural effect that would’ve occurred even absent President Obama’s various stimuli. The reaction of the Democrats to the failure of all the stimulus is to support yet more stimulus.
Read the rest: Where are the jobs?
The Obama Boom is just another in a series of lies to prop up the failing regime of Barack Hussein Obama. The American public are tired of the lies yet our press keeps deceiving like claiming Obama is still popular. The press will do anything for their glorious leader!
Tags: Progressive Propaganda
