A new report shows that at the current rate of job creation the economy will not recover the losses from the recession until 2020. The much heralded Obama boom is clearly a fairy tale invented by the media to prevent a collapse in the ratings of the President. It’s unacceptable that the nation which pioneered economic mobility will now have a 3rd world style stagnant economy. This will lead to a deterioration of American living standards and the death of the American dream.
The U.S. economy lost 95,000 jobs in September, far worse than expectations for no change in employment. More Census-related temp jobs ended, as expected, but state and local governments slashed staff far more than predicted.
So far in 2010, the U.S. has added just 613,000 jobs — for a monthly average of 68,111.
Employment bottomed in December 2009 at 129.588 million — two years after peaking at 137.951 million. At this year’s pace, the U.S. won’t recoup all those 8.36 million lost jobs* until March 2020 — 147 months after the December 2007 high.
Read the rest: U.S. Won’t Recover Lost Jobs Until March 2020 At Current Pace
Progressive government based policies have made the situation worse. The debt incurred by the Obama regime has put a shackle around the ankles of the economy. Every dollar borrowed by the government is money removed from the economy. American can and should do better, since we were at the forefront of market based economics. Now we are rapidly turning into a 3rd world nation.
Tags: Jobs, Obama Economic Boom
