Friday, July 24, 2009

20% Unemployment? Yes We Can!

In 2007, Obama joined the Senate in a Democrat takeover of both houses. Based on our laws, Congress owns the purse strings for our government. So effectively, Obama and his Democrat minions owned the economy from 2007 forward.

What was the economy like at the start of 2007?
Unemployment - 4.5%
Dow - 14,000
Deficit - $190 Billion and declining

What has two and a half years of Democrat control of Congress plus 6 months of Obama brought us?
Unemployment - 9.7%*
Dow - 9,000
Deficit - $1.8 TRILLION and growing

*That 9.7% figure has always seemed low to me. So I did more checking to see if they were properly counting people who had given up and/or exhausted their benefits. It seems my suspicion was warranted. If you look at the combined totals, the numbers are depressing.

Michigan is actually above 19% along with 8 other states 15% or higher (Oregon: 18.4%, California: 17.7%, Rhode Island: 17.1%, South Carolina: 16.8%, Tennessee: 15.7%, Florida: 15.6 %, Arizona: 15.5% and Nevada: 15.2%! Yikes!

The great economist Walter Williams is estimating it closer to 20% nationally.

I keep hearing Obama tout "jobs saved" and frankly, I have no idea how one would measure that other than pull it out of their less flattering parts.

Everything Obama and Congress has done since January has merely cost jobs and further hampered the natural economic recovery. Spending billions on ACORN and Democrat pet projects does nothing to create private sector jobs or stimulate the economy. Spending millions on pork - quite literally buying ham at twice what you pay at your local supermarket. Does nothing to help spur the economy, but its a nice pay off for Democrat supporters I guess.

Next up, destruction of the energy sector and government takeover of health care.

Hope and Change!!

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