While unemployment remains at 10%, the real unemployment rate is 17.3%.
Some new unemployment figures came out at the end of last week, andthey weren’t encouraging. It was just about a month ago thatunemployment figures showed a miniscule improvement … and, as youwould suspect, the ObamaBots were out there telling us all about howObama’s stimulus program worked and things were looking up. There wasone particular tall and bald (which means he doesn’t have a TV show)radio talk show host who said that the numbers would be back up at theend of the year. Funny how those things work out.
If things don’tstart looking good soon the Democrats will go into meltdown mode. Theyknow that carrying 10% unemployment figures into the general electionis not going to help their cause. The trouble is these people are so wedded to their big-governmentagenda and their war against the private sector that they simply cannotbring themselves to make the moves that need to be made to bring thejobs back. The voters have to make those moves … the Democrats willnot.
Obama’s chief economic dog washer Christina Romer says,”The sense that we need to do more (to promote job creation) isoverwhelming.” Well, she’s right. Trouble is, the Democrats haveexactly the wrong idea of what they need to do.
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It was the private sector, not a government-jobs program, thattransformed the wild American continent into a phenomenally prosperouseconomy. Before the Great Depression, the Roaring Twenties hadprosperity and all-time low unemployment without big government-jobsprograms.
If government jobs were the secret of success, theSoviet Union wouldn’t have collapsed, because it had nothing butgovernment jobs. Communist China, glutted with government jobs, wouldhave generated more income per capita than Hong Kong where, at leastbefore the Communist takeover, there were hardly any government jobs.But Hong Kong’s per capita income was about 20 times higher than thaton the mainland.