Well, the Democratic Convention began with a Jimmy Carter endorsement of Obama and ended with a Jimmy Carter jobs report.
Here is some Obama magic for you. The unemployment rate ticked down to 8.1%; the broader U6 rate ticked down to 14.7% from 15%. Yet there is not a shred of good news in this report. How so?
Construction jobs increased by just 1,000, while manufacturing jobs fell by 15,000. 10% of the August gains, 9,000 jobs, came from the resolution of the Con Edison utility strike.
Liberal economists will offer loquacious excuses about the aging population shrinking the labor force. Yes, it’s true we have an aging population. However, that is a gradual problem; it doesn’t explain the precipitous drop that has coincidentally coincided with the recession and “recovery.”
And what about women? Here’s the war on women for you. The number of women not in the labor force has increased by over 4.245 million since Obama took office. Their employment-population ratio shrunk from 55.3% to 53.1%. Look who is forcing women back into the kitchen to bake cookies for their husbands.
The problem here is not the recession that Obama complains he inherited. We are no longer losing jobs. The problem is the recovery. Worse than a high unemployment rate, we have an unprecedented number of people permanently giving up on the job market. This is what a centrally-planned Keynesian recovery looks like. This is what a country permanently on decline looks like. At this point during the Reagan recovery (1984), we were creating between 250-400,000 new jobs a month, at a time when the population was much smaller.
No amount of free contraception or abortion on demand can rectify the jobs crisis that Obama has created.
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