|

DNC Chairwoman pooh-poohs August jobs report

Florida Representative Debbie Wasserman Schultz, chairwoman of the Democratic National Committee, tried to deflect the abysmal August jobs report, by trying to turn attention to Mitt Romney’s finances and away from the Obama economy.

She finally stated on Fox News Sunday, “Everyone acknowledges that we have a long way to go, but we have made significant progress.”

Anyone seen Mitt’s tax returns? Anyone? Anyone?

Let’s investigate Obama’s significant progress with job growth.

August marks the 41st consecutive month of over 8% unemployment and the 96,000 jobs created by the private economy last month are 54,000 jobs less than that needed just to keep up with the new growth in the nation’s workforce each month.

Job creation was 34,000 jobs lower than expected by economists and the unemployment rate dropped to 8.1% from 8.3%, only because eligible workers left the labor force. Figures showed that for every job created, four people dropped out of the workforce.

The workforce is at its lowest level in 31 years. Also, the number of jobs created in 2012 per month is 139,000, while last year the jobs created were at a 153,000 rate per month, a decrease of 9.2% year over year. Job creation is decreasing not increasing – some progress!

Excerpt:

It’s the same story with the unemployment rate: It’s down from over 10 percent only a couple years ago, but has remained above 8 percent for over three years, the longest stretch since monthly records began in 1948.

Middle class wages and employees looking for work are shrinking:

For the first time since 1945, incomes have gone backward (from $72,956 to $69,487, a 5 percent drop) and total wealth (assets minus debt) dropped by 28 percent, to $93,150 from $129,582. During this period, the median wealth of the upper-income tier was essentially unchanged — it rose by 1 percent, to $574,788 from $569,905.

Broad unemployment rate: 14.7% (official rate + “marginally attached workers,” those who are neither working nor looking for work, but say they want a job and have looked for work recently; and people who are employed part-time for economic reasons, meaning they want full-time work but took a part-time schedule instead because that’s all they could find.)

The unemployment rate is even more devastating for minority workers, averaging 13.6% for blacks and over 11% for Hispanics. These unemployment figures don’t count the number of people in jail and prisons regardless of races or ethnicities.

Sounds like plenty of financial reasons to “hope for a change” in the Whitehouse in 2013!

Share:

16 Comments

  1. I wouldn’t trust anything that Debbie Wasserman-Schultz (I think of her as Alan Grayson in drag) says on any subject. Her spewing of falsehoods and hate-speak should disgust any reasonable person. She was even caught lying about a lie that she told. See:

    http://hotair.com/archives/2012/09/05/dnc-chair-that-awful-conservative-newspaper-misquoted-me-by-er-accurately-writing-what-i-said/

  2. Snoop Dogg was right Obama cleaned up half of Bush’s s&^#@ in four years.

    • Ted Biondo

      Do facts mean anything to you, Steverino? Give me some facts, if you are going to make such a overreaching statement as you have just made. The statement makes no sense – generalizations, hard to prove either way and has no informative nature – typical liberal drivel!

  3. shawnnews

    We know the Republicans have been blocking the jobs bill for a year. People like Moody’s — who downgraded our credit rating because of Republican obstruction– say the bill will create 1.9 million jobs. The Republicans will have none of that.
    http://thinkprogress.org/economy/2012/09/07/812251/republicans-blocked-jobs-act-one-year/?mobile=wp
    Pat posted some pictures but the article is here.

    • Ted Biondo

      shawnnews – the jobs bill is just more government stimulus money that will have to be borrowed from China, if they even have it, putting the US deeper in debt. Where was Obama and the Democratic Senate when the unions were begging the Dems to go forward with the Keystone pipeline but the Dems had already sold out to the radical extremist environmental wackos and canned the deal?

  4. Speaking of blocking bills, here is a list of all the bills stalled in the Senate, because the cowardly “Dingy Harry” Reid won’t allow them to be brought up for a vote:

    http://www.gop.gov/policy-news/11/10/27/summary-of-jobs-bills-stalled

  5. The ghetto rappers are part of the problem with crime and welfare deadbeats, white hatred and class envy.

  6. shawnnews

    From my above link:

    –Moody’s Analytics estimated the American Jobs Act would create 1.9 million jobs and add two percent to gross domestic product.

    –The Economic Policy Institute estimated it would create 2.6 million jobs and protect an addition 1.6 million existing jobs.

    –Macroeconomic Advisers predicted it would create 2.1 million jobs and boost GDP by 1.5 percent.

    –Goldman Sachs estimated it would add 1.5 percent to GDP.

    I suppose you can choose who to believe — the people who analyze the bills or the political ideology group of your choice. You can do the same with science issues — you beleive the scientists or you can beleieve the political ideology group of your choice. However, it is probably more reasonable to believe the people who do not have a direct political interest in the issue.
    You seem to be very concerned with Moody’s opinion here.
    http://blogs.e-rockford.com/tedbiondo/2012/02/13/europes-credit-ratings-tank-u-s-on-same-path/
    However, you are completely dismissive of it now that they say the bill the Republicans are blocking will add 1.9 million jobs.

    • Ted Biondo

      Shawnnews at what cost per job and the effects on the debt and loss of jobs due to the increased borrowing?? Are there any non-union jobs?

  7. Government doesn’t create jobs. It creates an environment that either helps or hinders business growth. The additional regulations and fiscal roadblocks created by the Obama regime are most damaging to small businesses, since they lack the resources to keep up with the constantly changing regulatory landscape. See a detailed explanation:

    http://www.huffingtonpost.com/mary-l-g-theroux/regime-uncertainty_b_1828457.html

  8. On a related subject (Lying Democrats) “Plugs” Biden challenged the media to fact-check his commentary. Bad idea:

    “I say to the press, fact check me,” a smiling Biden said to applause at a rally in Zanesville, Ohio,

    The Romney Campaign took up the challenge within hours.

    “Today, Vice President Biden said that he should be fact checked, and we agree,” said Romney campaign spokeswoman Amanda Henneberg. “The vice president knowingly and deliberately leveled false and discredited attacks. This is further proof that the Obama Campaign is unable and unwilling to talk honestly or substantively about the most important issues driving the country.”

    “In an attempt to distract from President Obama’s failed record, including unemployment remaining over 8 percent, labor force participation falling to three-decade lows, and our national debt passing $16 trillion, Vice President Biden is once again advancing fabricated and disproven attacks on Mitt Romney and Paul Ryan,” Henneberg added.

    Biden’s comment follows Romney pollster Neil Newhouse saying in late August, “We’re not going to let our campaign be dictated by fact-checkers.”

    The Romney campaign also on Saturday released a statement with fact-checks on statements Biden made relating to Romney’s tax and Medicare plans, and claims from Biden that Romney shipped jobs overseas.

    Biden and President Obama made other statements in their convention speeches on such topics as unemployment and Medicare that fact-checkers said also appear to be inaccurate or at least misleading.

    Among the questionable remarks were Biden’s argument that “after the worst job loss since the Great Depression we created 4.5 million private sector jobs in the past 29 months” – a frequent response by the Obama campaign when questioned about the slow economic recovery.

    The Associated Press and others point out that statement is misleading because it counts jobs from the recession’s lowest point to where employment began to grow again – excluding jobs lost earlier in Obama’s term and masking that overall unemployment has increased over that period.

    “Overall, roughly 7.5 million jobs were lost during the recession that began in December 2007 and ended officially in June 2009,” according to the wire service.

    Read more: http://www.foxnews.com/politics/2012/09/08/bend-it-like-biden-obama-fact-checkers-find-exaggerations-in-conventions/?intcmp=obinsite#ixzz2625ajxXv

  9. There is only one difference between Debbie Wasserman Schultz and a pull-string doll that repeats the same moronic things endlessly: the doll doesn’t deliberately lie. Wasserman Schultz was caught in a terrible lie this week and her lie was proved with an audio tape. She now says her comment was taken out of context. Any decent person would have said, “I stated something that was untrue. I didn’t mean to, I am glad to correct my error, and I’m sorry.”

    But I like her makeover. On bad days she looks like she soaked her hair in motor oil and dried it in a pizza oven. But she looked pretty darn good at the convention.

  10. shawnnews

    I think your fair questions about the cost of the jobs being created are answred differently by who is doing the analysis. They are each linked in the Tgibk Progress article. However, I don’t believe any of them endorse or condemn the plan from a cursory reading. They don’t answer whether or not there will be union jobs created — if you mentioned that he didn’t believe expanding the pipeline to the dismay of unions, then I don’t think he sees the bills specifically as a payback.
    Still, the idea that the White House has sat on its hands.

  11. DWS – the only person that has the shot of making Pelosi look intellgent.

    SNuss – Reid is still too busy working on the 2011 Budget.

    Here is a graph that was prepared based upon Obama’s Chief Economist at the time of the Stimulus, Christina Romer. Unemployment w/o the Stimulus would be at 6% by now w/o spending $800 billion. http://www.businessinsider.com/chart-obama-unemployment-2012-8-v

    For good laughs, here is Ryan and DWS discussing ObamaCare. Watch Ryan tear her apart. http://www.youtube.com/watch?v=u45IETzTqqQ

  12. Remember this, from Feb. 4, 2009?

    CBO: Obama stimulus harmful over long haul

    President Obama’s economic recovery package will actually hurt the economy more in the long run than if he were to do nothing, the nonpartisan Congressional Budget Office said Wednesday.

    CBO, the official scorekeepers for legislation, said the House and Senate bills will help in the short term but result in so much government debt that within a few years they would crowd out private investment, actually leading to a lower Gross Domestic Product over the next 10 years than if the government had done nothing.

    Read more: CBO: Obama stimulus harmful over long haul – Washington Times http://www.washingtontimes.com/news/2009/feb/04/cbo-obama-stimulus-harmful-over-long-haul/#ixzz26n6j5d00
    Follow us: @washtimes on Twitter

    Obama didn’t learn ANYTHING from his failure, because he doesn’t believe he failed. Ignorance, arrogance, AND incompetence, is a recipe for disaster.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Network-wide options by YD - Freelance Wordpress Developer