Obama’s Summer of Non Recovery

Socialist Barack Hussein Obama chose to look at the silver lining in the economic clouds of the latest jobs report.  Obama didn’t even mention that August saw a net job loss of 54,000 jobs.  Obama didn’t mention that he said that with the stimulus bill unemployment would not go over 8.5%.  Now 17 months after the stimulus bill passage the unemployment rate is 9.6% and has not been lower than 9.5%.

Obama refrained from mentioning the net job loss of 54,000 jobs, or even that August brought a net job loss. He said that the 67,000 private sector jobs created were “not nearly good enough” and said he would “in the weeks ahead” be detailing “further steps to create jobs and keep the economy growing, including extending tax cuts for the middle class and investing in the areas of our economy where the potential for job growth is greatest.”

Nonfarm payrolls fell by 54,000 last month, matching the level of revised losses recorded the previous month, the U.S. Labor Department said Friday.  The U.S. economy has shed jobs for three straight months, though the losses in August were about half the 110,000 predicted by economists in a Dow Jones Newswires survey.

Fed Chairman Ben Bernanke declared his readiness a week ago to pursue further moves if "unexpected developments" derail the economic expansion. The "painfully slow recovery" in the jobs market was a central policy concern, he said, given the risks it poses to consumer confidence and the broader economy.

In a positive sign, the report showed 42% of unemployed Americans were out of work for more than six months in August, down from 45% in July. It becomes harder to find a job as time goes by, as skills are lost and employers may view long periods of unemployment with suspicion.

This is socialist Obama’s economy and his failure.  If Obama and the Democrats had passed no legislation the economy now would be better than it is.

Election 2010 is in 55 days.  Stay engaged America.  Elections do matter.  We can start the turnaround of the economy and the attempts to make America a socialist country.

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