by Matthew Ung
The government’s 4th Quarter (2012) unemployment figures came out recently. We went from 7.8 to 7.9% unemployment, but if the most inclusive government number was used, it’s almost 15%. Our Gross Domestic Product shrunk, despite $98 billion more in total federal spending than the previous quarter, according to the Treasury Department. You know, when we’ve spent more borrowed money under President Obama than any human being in world history ($6 trillion), when we’ve borrowed to “invest” trillions every year in failed subsidies, and when we’re inflating the currency with $85 billion of created Federal Reserve Notes every month, I think the “common sense approach” (to borrow the president’s phraseology) is to expect our recovery won’t be the most anemic in U.S. history. A supposed recovery which just officially ended.
As a sidenote, I also think it’s only reasonable for the president to issue an executive order to his narcissistic self to appoint someone to lead a “national discussion” on the national debt–much like he did at the Sandy Hook press conference to mandate a “national discussion” on gun violence. We know that Gallup says 4% of Americans think gun control is the biggest issue of the day, and that the vast majority think the national deficit IS, but what does a private sector company know about the federal government anyway? The government’s surveys are higher than our surveys, and their accounting is higher than our accounting…
Press Secretary Jay Carney recently cited 54 straight months of job creation in Obama’s presidency as evidence for their economic success, notwithstanding the obvious fact that Obama has only been in office for 48 months. But it’s not only their counting skills that are lacking, it’s their ideology: When Carney cited 2 million jobs created in 2012, he left out the glaring counter-fact that 8.5 million people have dropped out of the workforce in the last four years. Did you know we have lost more people from our workforce than any time in modern history, and that we have less people in our workforce than in 1948? It’s not because people sent a form to the government saying they don’t like earning money anymore, but because the government arbitrarily thinks they don’t want to be in the workforce anymore. Also, if you have a part-time job, the government assumes that you will never, EVER IN YOUR LIFE, want a full-time job. So you don’t count, just because you’re so content.
Guess who else has low unemployment but whose economy is in decline? North Korea. Their official government number of 3-4% unemployment is the envy of all nations with biased government statisticians. Why? Because they keep dropping people from their workforce. I rest my case.