Barack Obama: “I promise you, change will come”
Despite Obama’s repetitive rhetoric, economy remains in the toilet
Facts are pesky things for liars to deal with. Although Barack Obama declares the unemployment rate dropped to 8.1 percent from 8.3 percent, he neglects to give the back story, which is that the drop reflects 368,000 disillusioned Americans dropping out of the labor force While unemployment dropped by 250,000 to 12.5 million for August, employment also fell, plummeting 119,000 to 142.1 million
The survey of households from which the jobless rate is derived actually showed a decline in employment for a second straight month. Underemployment is a major factor not addressed in the report, as job seekers are unable to find equivalent employment to jobs lost and are working two or more lower wage, part-time jobs in order to sustain themselves and their families.
Job growth slowed sharply in August, dealing another blow to Obama as he desperately attempts to make the case for a second term.
The Federal Reserve is poised to pump additional money into the sluggish economy next week. Federal Reserve Chairman Ben Bernanke said last week the labor market’s stagnation was a “grave concern.”
The most recent Bureau of Labor Statistics report can be read here. Two more employment reports are due before the November 6 presidential election.
We’ve heard it all before, Barack.
2012-09-08 15:42:22
Source: http://seeingredaz.wordpress.com/2012/09/08/barack-obama-i-promise-you-change-will-come/
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