“Well, The World Needs Ditch Diggers, Too”
By Wyatt Earp | September 28, 2009
Wow, that looks like the making of a kickass roller coaster.
The US unemployment rate rose from 7.6% to 9.7% under Obama… the highest rate in 26 years.
Obama said with the Stimulus Bill the unemployment rate would not go over 8% but the unemployment rate is currently at 9.7%. That’s not all… The youth unemployment in the country has reached a post-World War II high.
Wow, so much for that Obama Youth movement the president was enjoying at election time, eh?
The unemployment rate for young Americans has exploded to 52.2 percent — a post-World War II high, according to the Labor Dept. — meaning millions of Americans are staring at the likelihood that their lifetime earning potential will be diminished and, combined with the predicted slow economic recovery, their transition into productive members of society could be put on hold for an extended period of time. . . . A study from the National Longitudinal Survey of Youth, a government database, said the damage to a new career by a recession can last 15 years. And if young Americans are not working and becoming productive members of society, they are less likely to make major purchases — from cars to homes — thus putting the US economy further behind the eight ball. Angrisani said he believes that Obama’s economic team, led by Larry Summers, has a blind spot for small business because no senior member of the team — dominated by academics and veterans of big business — has ever started and grown a business. (H/T – Gateway Pundit)
I snark about these numbers because President Obama made it seem like his administration was going to wipe these poor numbers all away. There’s not a day that goes by where I don’t thank the Lord I am in a recession-proof industry.
Obviously, if you are one of the people affected by this piss-poor economy, these numbers are no laughing matter. I was one of these numbers when I graduated from college. You know who I held responsible for the piss-poor economy back then? President George H. W. Bush. I voted for Clinton in 1992. I wonder how many Obamaniacs will change their vote in 2012 if these trends continue?
My guess is not many. Far too many people give the letter on their voter registration more weight than their personal goals.
Topics: Snarkasm | 10 Comments »
September 28th, 2009 at 7:56 am
Let me get this straight, you’re blaming the current President for the current unemployment situation?
September 28th, 2009 at 10:31 am
Hey Randal, the current situation is caused by both the congress and the president. The stimulus bill that was promised to help jobs had so much pork added that it did not go out and put people to work now. We might see the benefit over a long period of time but it was supposed to be a jump start and just wasn’t there. The republicans were blind to the bad paper we were loaning on houses and did not stop Barney Frank from papering Freddie Mac with enough bad loans to keep us all in debt. When that house of cards fell, we all felt it. MUD
September 28th, 2009 at 11:20 am
Randal – All of it? No. Does he share the blame for the rise under his watch? Absolutely. Read the first shaded section above. You can’t give the guy a free pass or an “It’s all Bush’s fault” forever.
Dennis – Exactly. Plenty of blame to go around, but to wipe Obama of any blame is lunacy.
September 28th, 2009 at 12:44 pm
Wow on the youth unemployment rate. I knew kids were having a hard time finding a job this summer. I guess that is why so many kids from my son’s graduating class joined the military.
September 28th, 2009 at 12:52 pm
I think what Randall was trying to say was, with the Democratically controlled congress the last 2 years of GB’s term thwarting everything they could and thru Dodd and Franks telling us everything was fine and dandy regarding the mortgage industry, that ole GB’s failure to control their devastation led us into this mess.
September 28th, 2009 at 1:56 pm
I’m not giving him a free pass at all. I just asked a simple question.
September 28th, 2009 at 2:27 pm
Ingineer66 – Well, they are the dregs of humanity. Just ask John Kerry. Heh.
Jon – Oh, don’t misunderstand my thoughts for sarcasm. Bush and the GOP-led Congress did nothing to help or stop this mess. I just think that the Stimulus Bill, which Pelosi, et al, said would put the economy back on track, failed miserably. Obama has to share the blame in that.
Randal – I was using the royal “you.” Meaning “people” can’t give the guy a free pass. The rate rose 2.1% in nine months under his watch. He has to shoulder some of the blame, bit I think there are a lot of people to blame for this disaster on both sides of the aisle.
September 28th, 2009 at 4:40 pm
I find Bush’s last four years and the first months of Obama’s administration to be a hot ghetto mess. Everyone passing the blame and shouldering no responsibility. As the saying goes, if you’re not part of the solution, you’re part of the problem. Bush and Obama are part of the problem.
September 28th, 2009 at 10:47 pm
MeToo – The consistent factor there? An inept congress.
October 1st, 2009 at 4:45 pm
I’m of the opinion that had they (meaning GW and Barack and both congresses) just stayed out of it and let the market forces work, we’d be on our way out by now.
Of course that theory holds true for every administration since Hoover.