So let’s get this right, when the unemployment rate goes up, it’s all Obama’a fault. When his policies result in almost 3 million jobs in the last two years he has nothing to do with it.
It is true that 4.4 million jobs disappeared during the 2007-08 panic. But after Obama took office, an additional 4.3 million jobs disappeared. So when Obama says “we’ve added 3.7 million new jobs,” he’s not giving you the full story. We are still 5.6 million jobs below where we were at the peak in 2007. Add to that the 4.9 million new jobs that would have had to be created just to soak up new entrants into the workforce, and all told we have a jobs deficit of 10.5 million.
COSTELLO: I want to talk about the unemployment rate in America.
ABBOTT: Good Subject. Terrible Times. It’s about 8 percent.
COSTELLO: That many people are out of work?
ABBOTT: No, that’s 16 percent.
COSTELLO: You just said 8 percent.
ABBOTT: 8 percent unemployed.
COSTELLO: Right 8 percent out of work.
ABBOTT: No, that’s 16 percent.
COSTELLO: Okay, so it’s 16 percent unemployed.
ABBOTT: No, that’s around 8 percent…
COSTELLO: Waits a minute. Is it 8 percent or 16 percent?
ABBOTT: 8 percent are unemployed. 16 percent are out of work.
COSTELLO: If you are out of work aren’t you unemployed?
ABBOTT: No, you can’t count the “Out of Work” as unemployed. You have to look for work to be unemployed.
COSTELLO: But they are out of work!!!
ABBOTT: No, you miss my point.
COSTELLO: What point?
ABBOTT: Someone who doesn’t look for work, can’t be counted with those who look for work. It wouldn’t be fair.
COSTELLO: To who?
ABBOTT: The unemployed.
COSTELLO: But they are all out of work.
ABBOTT:No, the unemployed are actively looking for work … Those who are out of work stopped looking. They gave up. And, if you give up, you are no longer in the ranks of the unemployed.
COSTELLO: So if you’re off the unemployment roles, that would count as less unemployment?
ABBOTT: Unemployment would go down. Absolutely!
COSTELLO: The unemployment just goes down because you don’t look for work?
ABBOTT: Absolutely it goes down. That’s how you get to 8 percent. Otherwise it would be 16 percent. You don’t want to read about 16 percent unemployment do ya?
COSTELLO: That would be frightening.
ABBOTT: Absolutely.
COSTELLO: Wait, I got a question for you. That means ther’re two ways to bring down the unemployment number?
ABBOTT: Two ways is correct.
COSTELLO: Unemployment can go down if someone gets a job?
ABBOTT:Correct.
COSTELLO:And unemployment can also go down if you stop looking for a job?
ABBOTT: Bingo.
COSTELLO: So there are two ways to bring unemployment down, and the easier of the two is to just stop looking for work.
ABBOTT: Now you’re thinking like an economist.
COSTELLO: I don’t even know what the hell I just said!
Obama’s deficit is decreasing, it was your guy that took a 1.5 trillion dollar surplus and turned it into a 1.5 trillion dollar deficit. Obama’s deficit has been declining 1.2 tril. in 2010 and 1.1 in 2011 check Bloomberg News.
This from the same guy who swore that his health care bill would not “add one dime to the deficit, now or in the future, period,” and that your health insurance premiums would be $2,500
lower by the end of his first term in office. How’s that working out for you?
The Administration’s repeated under-estimation of the president’s budget deficits can be attributed to three factors: unrealistic economic outlooks, inaccurate technical assumptions, and taking credit for non-existent budget policies. The only Obama deficit that’s decreasing is his reality deficit. Dear Leader’s own budget for 2013 does nothing to slow the growth of debt – which has increased more under Obama than under any President in American history.
The debt was $10.626 trillion on the day Mr. Obama took office. The latest calculation from Treasury shows the debt has now hit $15.589 trillion. It’s the most rapid increase in the debt under any U.S. president. The national debt increased $4.9 trillion during the eight-year presidency of George W. Bush. Obama
exceeded that
in just 3 years!
While oil and gas production was down 13% during the Bush Administration it’s up almost 10% under Obama. Oil prices hit this level under Bush and I know you blamed it on his policies at the time right? The US president does not control world oil prices. If production did increase overwhelmingly in the US the oil would go on the world market. DO you think the US oil companies would hold it just for us so we could have lower prices? They won’t even pay their taxes!
It is disingenuous of the president to claim credit for increased production, particularly when that increased production has occurred on private and state lands. The fact remains that his administration has done very little to encourage new future production on federal lands onshore or offshore, and has in fact done more to thwart it.