Posted by DougOut on 3/10/2012 11:16:00 AM (view original):
So the Reuters explanation: we've got people being hired left and right. Why, there are jobs being created left and right. What's the problem? Why is it staying at 8.3%? Well, because people who previously had given up are now back in the market looking for work, damn it. That means they've gotta be counted, damn it, and that means the unemployment rate stays at 8.3% when it ought to be coming down, damn it. So you people who were out of work and quit looking for jobs now have decided to start looking for jobs, you're the ones who are screwing up Obama's economic report. Because if you would just stay out of work and not come back to the labor force looking for jobs we could get that number down to 8.1%. Now, you don't care about Obama, no, you're so selfish, you have to come back to the labor market, start looking for work, and that's why we can't lower the unemployment number.
I am not making up a word of that. I may be adding, shall we say, verve and color to the way I explain it, but everything I told you is factually true, and Reuters here explains the unemployment rate held to the three-year low because more people returned to the labor force. So that's that. The Bureau of Labor Statistics reports that there are 12.8 million unemployed persons. When Obama's stimulus bill passed there were 12.5 million unemployment persons. Obama spent over a trillion dollars to lose an additional 0.3 million jobs. That's almost as impressive as awarding $10 million to some outfit to create a 50-dollar light bulb. That story is coming up.
So, the stimulus should have been effective immediately? Is that what Rush is saying? How crazy is that? You cant legitimately start counting the effectiveness of the stimulus bill the moment it gets signed. When do you start? I dont know, but not the very day it was signed. But here is some cold hard data, unemployment according to BLS was at 10% in oct 2009. And now it is 8.3. Is it fair to say that the stimulus was really starting to show results in Oct? maybe, maybe not. Maybe its more fair to say it started being more effective 5 months down the road so say June when it was 9.5 so its dropped 1.2% since then. Not great, but a lot fairer to say that then the 0 that Rush is saying. again AGENDA much?