In 2010, Americans were told that they were about to experience the Summer of Recovery, a season in which the American economy was going to turn around because of all the taxpayer funded, federal deficit spending that the Presidentâ€™s stimulus program was going to pump into our economy. Instead, what they got was a summer filled with scenes of oil being pumped into the Gulf of Mexico as the largest oil spill in our nationâ€™s history unfolded for months. Instead of seeing any significant job creation and economic growth, all we really saw was an Obama Administration which was hindering the attempts of Gulf Coast Governors like Bobby Jindal from protecting their stateâ€™s shores from the incoming flow of oil that relentlessly gushed out of a BP oil rig which the Obama Administration had recently issued a safety award to.
At that time, as the Obama Administration sat by and helplessly watched 53,000 barrelsof oil a day flow into the Gulf for three months, the July unemployment rate stood at 9.5% and private sector payroll employment increased by 71,000, a figure which was 12,000 fewer than the number of new private sector jobs gained in the previous month. These numbers were far from what we needed to just keep up with population growth and it was further evidence of just how much trouble our stagnant economy was in.
Two years later and as the August 2012 unemployment numbers reveal themselves, we find that since 2010, the employment situationn has indeed improved sine then . Whereas; in July of 2010 it stood at 9.5%, in July of 2012 it stands at 8.3%. and while that may sound good, itâ€™s actually horrible. It means that in two years, while the actual employment rate has improved, the unemployment outlook has gotten worse. In two, years the unemployment rate has dropped an average of 0.05% a month. Thatâ€™s 0.849% less than the average monthly population growth rate which is 0.899%.
It is also important to note that while 8.3% is better than the 9.5% that we were at two years ago, it is still worse than the 8.2% unemploment rate we had last month. So not only is the current rate of employment unable to keep pace with population growth, it is getting worse as we now find ourselves with 42 consecutive months of unemployment rates in excess of 8.0%. And while the President and his liberal colleagues in the House and Senate will defend their record on jobs by touting misleading lines indicating that the number of jobs in America increased for each of the past 24 months, what they will continue fail to point out is that there are still 316,000 fewer Americans working now then there were in January of 2009 when President Obama took office.
The latest jobs report indicates that 23 million people, 1 out of 7 Americans, have given up and dropped out of the workforce, are working temporary jobs because they canâ€™t find full time work, or are unemployed but still looking for work. A total of 12.8 million people fall into the latter category.
This is not an economic recovery. Itâ€™s an economic disaster and it is being perpetuated by such factors as the looming Obamacare regulations that are slowly taking effect, and liberal initiatives that seek to increase taxes by refusing to extend Bush era tax cuts to all Americans. All of this is creating a degree of uncertainty that holds back growth in the private sector.
The bottom line is that these latest jobs numbers prove that our nation is in desperate need of change of course. It is quite obvious that the liberal tax and spend policies which have failed us in the past, are failing us in the present, and give us no reason to believe that they will work in the future. That means President Obama must go.
Of course the left will deny such claims. They will offer ludicrous and delusional assessments of different aspects of the Obama tax and spend policies which unconvincingly argue that America is headed in the right direction. As seen in the video below, as the 2012 election approaches Democrats will say anything to deny the reality of what is now the worst recovery in history. But as they try to deny that this so-called recovery is too slow to make a difference, most Americans, especially the 23 million who are denied full employment, are understanding that the problem is not that the recovery is too slow, they realize that it is non-existent.