Obama’s Job Statistics Vs Main Street Reality

President Obama defines jobs “success” in a unique new way. President Obama has “pivoted to the economy” once again, in an appearance on Sixty Minutes, followed by Speech at Northwestern University.  Here’s an excerpt from Sixty Minutes: Question: Right now public opinion polls show a majority of Americans disapprove of your handling of foreign policy […]

Five Years of ObamaNomics: A Progress Report

June 2014 was the fifth anniversary of the end of the 2008-09 recession.  But the US economy has not yet begun an acceptable recovery.  Polls show more than half of Americans believe we’re still in recession. According to the “advance estimate” published Wednesday by the Commerce Department, Gross Domestic Product (GDP) grew at an annualized […]

Job Market Deception by the “Experts”

How Government-Media “experts” spin bad news as good news. The headline unemployment rate dropped from 6.3% in May to 6.1% in June.  A round of cheers was herd from the “experts” in the Obama Administration and the media.  Unfortunately, we live in a new kind of economy now, an economy with more government intervention than […]

Has Another Recession Already Begun?

What may become the most significant news economic news of 2014 was nearly ignored by the political-media establishment. The Commerce Department published its third and final revision to its quarterly GDP report.  The economy contracted by 2.9% during the first quarter of 2014. As the chart shows we were already suffering through the weakest of […]

A Bittersweet Jobs Milestone

America’s six-year experiment with progressive economic theories has proved those theories invalid.  Now is the time to replicate the successful economic strategies of the 1980s. The Labor Department’s monthly jobs report marked a long awaited milestone that, had it occurred in 2010 would have been cause for jubilation.  But in 2014 it’s a grim reminder […]

Five Years of Stimulus Debunks Keynesian Theory

The American Recovery and Reinvestment Act is now five years old.  Known affectionately as his “stimulus” it was President Obama’s first legislative triumph, attracting high praise and hosannas from the media. But today, stimulus advocates are on defense, trying to justify an additional trillion dollars in federal debt.  During a campaign style media event to […]

The Victims of Fundamental Transformation

President Obama roared into office vowing a “fundamental transformation” of America.  His transformation has not been kind to middle class workers. The Labor Department just published it’s monthly, new normal – miserable – jobs report.  The headline, that in December the unemployment rate ticked down from 7.0%, to 6.7% was an illusion that masked the […]

No Thumbs Up for the July Jobs Report

Historic deterioration of the labor market makes monthly jobs numbers meaningless. The unemployment rate is misleading because millions of jobless people are not counted.  The number-of-jobs-created headline is misleading because of an unprecedented increase in part time employment.  When the latest jobs report was published the White House guided headline writers with this spin from […]

The Jobs Crisis and Baby Boomer Retirements

The gradual decline in the unemployment rate over the past 4 years does not reflect rising prosperity.  It is a statistical deception, due entirely to a shrinking labor force. The Labor Department’s Jobs report for the month of April once again called attention to the alarming drop in what statisticians call the “labor force participation […]

More Sequester Hysteria: “Jobs Will Be Lost!”

The latest Obama budget crisis is the “sequester,” an idea he came up with in the summer of 2011 that was intended to delay action on the government’s ballooning debt until after the election.  He is now leading a political and media campaign to pressure Congress to resend it. As the chart to the right […]

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