Democrats, Progressive Republicans Take Sledge Hammer to Economy

Bloomberg reports that the economy is in a tailspin.  The unemployment rate is now 9.7%, 0.2% lower than last month, but that statistic deceives.  Last month, there were 431,000 new jobs with 411,000 census workers hired. Only 41,000 private sector workers were hired.  Manufacturing jobs increased by 29,000  while service jobs, mostly temporary, increased by 27,000. The retail job number fell.

The labor force fell by over 200,000.  A statistical characteristic of the unemployment rate is that people not in the labor force are not counted in the unemployment rate. So if you give up looking for a job you are not counted.  200,000 left in response to the policies of Obama and the Democrats. They are so great at helping the average American. 

Now if you subtract the 200,000 who left the labor force and the 411,000 temporary census jobs from the 431,000 new jobs, do you really find an improvement in unemployment?

The truth is that the unemployment rate is too low.  The reason is that the government has subsidized badly run businesses that should be terminated and much of government is pure waste.  Rather than subsidize and stimulate waste as the Democrats have, the incompetently run businesses need to close.

Money should have been spent on welfare subsidies to the unemployed, whose lives have been upended by the incompetence of the Progressive/Keynesian economic system. Instead, the economy has been put on life support and the misallocation of investment will cause continued decline until the Democrats and Progressive Republicans are booted out of office.

I feel sorry for my students, who look forward to suffering economically because of the moron whom they voted into office, Barack Obama.