When Obama Economic Fantasyland is Introduced to Reality

Obamanomics...Obama’s Fantasyland

(USA Today) Obama embellishes his record on jobs…the net gain since he’s taken office is actually just under 9.3 million — what Obama didn’t spell out during his SOTU lecture is that more than 4 million jobs were lost during the first 13 months of his presidency and he ignored losses of state and local government jobs as well.

Likewise, according to the Bureau of Labor Statistics over Obama’s entire time in office the U.S. has lost 230,000 mfg jobs dropping from 12,561,000 jobs in January, 2009 to 12,331,000 in December, 2015

On the 08 January, I wrote here that 94 million+ Americans are not in the labor force, labor force participation rate is just 62.6% continuing a trend unseen since the Carter Administration; Average hourly wages fell last month.

In related news according to Forbes today, Walmart has announced that its shutting 269 stores, its first mass closings affecting some 16,000 workers.

Related: CATO Institute Responds to Obama’s Final SOTU Address

Hillary Clinton Tweets ‘Confederate Flag’ Symbols of Hate — What About Those Confederate Flags Used By Democrat Campaigns?

Hillary Clinton Confederate FlagHillary@Twitter Now Calls Confederate Flags ‘Symbols of Hate’ But…

Hillary Clinton Campaign ButtonWhat About These ‘Hillary Clinton 2016’ Campaign Buttons and All of the Other Democrats ‘Confederate Flag’ Memorabilia Used in the Past?

Obamanomics: Labor Force Participation Rate Falls to Lowest Level in 38 Years

Labor Force Participation Rate(Marketwatch) Labor Force Participation Rate in June, Falls to 62.6%
Lowest Level Since Democrat Jimmy Carter was President in 1977
Image Courtesy: AEI

Related: Americans Not in Labor Force Soars by 640,000 –ZeroHedge

Record 93,626,000 Not in Labor Force –CNS News

Hillary Clinton is Suddenly Outraged By the Confederate Flag, When Did Democrats & The Clinton’s Change Their Minds?

Labor Participation Rate Takes Another Hit, Drops to New 36 Year Low of 62.7%

Labor Participation Rate(Zero Hedge) While Obama and Democrats have been cheering the alleged drop in the unemployment rate today to 5.9% what they fail to mention, is more important for Americans attempting to find a job.

On Friday, the Bureau of Labor Statistics reports that the ‘Labor Participation Rate’ has taken another hit falling from 62.8% to 62.7% the lowest level in 36 years–matching a rate when another Democrat, Jimmy Carter was President in February 1978

What is equally disturbing is that the number of Americans not in the labor force rose to a new record high–increasing by 315,000 to 92.6 Million

If that isn’t bad enough, in related economic news, CNS News reports the number of Women not in the labor force increased from 55,345,000 in August to 55,553,000 in September–an increase of 208,000

Washington Post/ABC News Poll: Outlook Bleak for Democrats Ahead of Mid-Term Elections

Obama Promised LandObama’s Utopia –Cartoon: Vegas Lounge Lizard@Twitter

(Washington Post) According to a new ABC News/Washington Post poll released today, shows that Republicans in a stronger position than Democrats wi the states with Senate seats up for grabs with respondents continuing to disapprove of Obama’s handling of the economy and his signature legislative achievement ObamaCare,

Attitudes about the economy remain ‘overwhelmingly negative’ with 72% saying the economy as “not so good” or poor.

On the 04 February, I wrote here according to a recent CBO report its forecast that an historically high number of Americans will be locked out of the labor force by 2021 due to ObamaCare,

Last year according to CNS News the labor participation rate hit a 35 year low of 63.2% the last time the labor participation rate was this low was in 1978 when another Progressive/Democrat-Socialist occupied the Oval Office–Jimmy Carter.

Obama’s Watch: Declining Wages & Hours; Jobless Rate for Millennials Highest Since WW II

Wages

(Zero Hedge) While everyone is focusing on todays ‘Bureau of Labor Statistics’ (BLS) numbers, it appears that once again the news readers have missed in all of the noise the qualitative aspects of the BLS report.

Those parts which actually looks at the quality of new jobs, their earning power–which were all toward the lower paying spectrum of available jobs together with productivity and labor demand which we find the biggest BLS report weakness. 

Americans are realizing a continuing tapering of growth of wages and now the second drop in a row, posting its weakest rise since November 2012–Bigger problems in today’s BLS report shows a drop in average weekly hours for all employees and the previous report showing a decline in the labor participation rate from an abysmal 63.5% to 63.3% the lowest levels since 1979 when Carter occupied the White House.

Related: Black Unemployment Rate Remains at 13.2%

Unemployment Rate for Millennials Highest Since WW II at 16.1%

If Not Supporting Obama is Racist, Should Massachusetts Voters Not Support Gabriel Gomez for U.S. Senate is That Racism Too?

Obama Race Card --Soda HeadFormer CNN’s Jack Cafferty: Not Voting Obama? You’re a Racist -NewsBusters-

(Washington Times) Gabriel Gomez won the GOP nomination in Massachusetts for the U.S. Senate seat vacated by Secy of State John Kerry, and will go up against Democrat Rep Edward Markey in a special election slated for the 25 June.

Using the Liberal Logic of Former CNN’s Jack Cafferty and former President Jimmy Carter who have claimed that not supporting Barack Obama is racism, should voters in Massachusetts not support Gomez over Markey to fill the Senate seat vacated by John Kerry in next months special election, are they racists?

California Sees Largest Spike in New Jobless Claims than Any Other State in the Nation

California Unemployment

(CVBT) The number of people in California making new jobless claims was 24,303 in the week ending 13 April according to the U.S. Dept of Labor.

On the 05 April, I wrote here the number of people not participating in the labor force across the nation continues to skyrocket to a record 90 million during Obama’s Watch–the labor force participation rate plunged to 63.3% the lowest level since 1979 when another Democrat, Jimmy Carter occupied the White House.

Related: Gloomy Prospects: Politicians Splurge and Economy Sputters

Unemployment 9.8% Highest in 26 Years

Obama Economics

V.P. Joe Biden upon receiving word today that the Unemployment rate hits a 26 year high and stands at 9.8% said, “The first quarter of the year we were losing jobs at an average of 700,000 jobs per month, month after month…in the Quarter that ended this week the loss was 250,000 jobs per month two-thirds less.”

That is something to write home about?

Back in the day—one month ago, Joe Biden was telling us how Obama’s Economic Stimulus was working better than expected and the “plan has created or saved 500,000 to 750,000 jobs.” Really? Where do those numbers come from?

When Jimmy Carter was President unemployment during his watch was 7% many believe that Carter was the worst President in the 20th century.

The real unemployment rate hits 17% in September 0.2% higher from August which includes Americans who have stopped looking for work or who can not find jobs.

If Carter was the worst President in the 20th century, what does that make Obama?