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  1. #1 The Worst Economic Recovery Since the Great Depression 
    PORCUS MAXIMUS Rockntractor's Avatar
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    By Peter Ferrara on 3.14.12 @ 6:08AM

    And all of it a preview of the Great Reelection Crash of 2013.

    The record of President Obama's first three years in office is in, and nothing that happens now can go back and change that. What that record shows is that President Obama, with his throwback, old-fashioned, 1970s Keynesian economics, has put America through the worst recovery from a recession since the Great Depression. The American people are much poorer now because of that, and will remain poorer, falling farther and farther behind, until we change course and restore traditional American prosperity.

    The recession started in December, 2007. Go to the website of the National Bureau of Economic Research to see the complete history of America's recessions. What that history shows is that before this last recession, since the Great Depression recessions in America have lasted an average of 10 months, with the longest previously lasting 16 months.

    Dude, Where's My Recovery?
    Yes, the economy was in recession when President Obama entered office, which he never tires of telling us. But that was not unique to Obama. There have been 12 recessions in America since the Great Depression. The American people have forgotten what that was like because President Reagan and his Reaganite Republicans gave us a 25 year economic boom from 1982 to 2007 with no serious downturn.

    President Obama's responsibility was to manage a timely, robust recovery to get America back on track again. His record in achieving that is not to be measured from the worst of the recession, but to previous recoveries in U.S. history. And, no, President Obama cannot say that his recovery is so bad because the recession was so bad (worse than he thought he now tells us, after spending all of 2008 telling us it was the worst recession since the Great Depression). The American historical record is that the worse the recession the stronger the recovery, as traditional, long-term, American prosperity has always been restored.

    Based on that historical record, we should be in the third year of an economic recovery boom right now. That is what we experienced under Reagan, which was the last time we recovered from a recession of similar magnitude.

    In the first 2 ˝ years of the Reagan recovery, the American economy created 8 million new jobs, the unemployment rate fell by 3.6 percentage points, real wages and incomes were jumping, and poverty had reversed an upsurge started under Carter, beginning a long-term decline. While Obama crows about 227,000 jobs created last month, in September, 1983 the Reagan recovery less than a year after it began created 1.1 million jobs in that one month alone. In the second year of the Reagan recovery, real economic growth boomed by 6.8%, the highest in 50 years.

    In contrast, under President Obama, unemployment actually rose after June 2009, when NBER counts the recession as officially ending, and did not fall back down below that level until 18 months later in December 2010. Instead of a recovery, America has suffered the longest period of unemployment this high since the Great Depression. Even today, 51 months after the recession started, the U6 unemployment rate counting the unemployed, underemployed, and discouraged workers is still nearly 15%.

    And that doesn't include all the workers who have fled the workforce under Obama's economic oppression. Under Obama's supposed recovery, the number of working age Americans not in the labor force rose by 7.14 million. As John Lott and Grover Norquist recently observed, "There is no comparable post-World War II 'recovery' where this type of exodus has occurred."

    While in the second year of Reagan's recovery the economy boomed with real economic growth of 6.8%, the highest in 50 years, last year the American economy limped along with real economic growth a paltry 1.7%. The first quarter of this year will be similar.

    Today, over 4 years since the recession started, there are still almost 24 million Americans unemployed or underemployed. That includes 5.6 million who are long-term unemployed for 27 weeks, or more than 6 months, the highest since the Great Depression. The number of Americans employed part-time for economic reasons was still 8.1 million. The Bureau of Labor Statistics (BLS) says, "These individuals were working part time because their hours had been cut back or because they were unable to find a full-time job."

    Another 2.6 million persons were marginally attached to the labor force, essentially unchanged from a year earlier. The BLS says, "These individuals were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months. They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey."

    African Americans have been suffering an outright depression under Obama, with unemployment today, 51 months after the recession started, still over 14%. Black unemployment has been over 14% for Obama's entire term in office. Black teenage unemployment today is still nearly 35%, where it has persisted for Obama's entire term as well.

    Hispanics have also been suffering a depression under Obama, with unemployment today still in double digits at nearly 11%, where it has also persisted for Obama's entire term. Over one fourth of Hispanic youths remain unemployed today, which also has persisted for years.
    Read More>http://spectator.org/archives/2012/0...ic-recovery-si
    How is obama working out for you?
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  2. #2  
    You can never leave hai's Avatar
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    One thing that gets me is that the news is constantly saying that the economy is getting better and that unemployment is going down,but every where i look businesses are closing up,places are going for rent and such. I call hogwash on the claim that the economy is getting better.
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  3. #3  
    SEAduced SuperMod Hawkgirl's Avatar
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    And it's getting worse, we are not heading towards a recovery any time soon.

    My healthcare system recently announced "job reductions". A large hospital system south of us announced a second wave of layoffs of 1100 people!

    Hospitals nationwide are cutting jobs. It's partially due to the recession/unemployment and to the pending cuts in Obamacare. The medical field WAS recession proof. Not anymore.

    Morale is at an all time low. Upper executives are having "rap sessions" with staff on a daily basis. We're going to get hit hard. I'm not AS nervous since my boss started giving me more work. Maybe I'll be spared.

    It's getting rough out there. Thanks Obama!
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  4. #4  
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    Quote Originally Posted by Hawkgirl View Post
    And it's getting worse, we are not heading towards a recovery any time soon.

    My healthcare system recently announced "job reductions". A large hospital system south of us announced a second wave of layoffs of 1100 people!

    Hospitals nationwide are cutting jobs. It's partially due to the recession/unemployment and to the pending cuts in Obamacare. The medical field WAS recession proof. Not anymore.

    Morale is at an all time low. Upper executives are having "rap sessions" with staff on a daily basis. We're going to get hit hard. I'm not AS nervous since my boss started giving me more work. Maybe I'll be spared.

    It's getting rough out there. Thanks Obama!
    This is all news to me! I, like most people, thought the health care industry was a safe haven.
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  5. #5  
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    Yeah, "they " are lying. Why not? Their God, O Blah Blah the Liar is showing them it is a strong character trait worthy of emulation and the sheeple are falling for it.
    Education without values, as useful as it is, seems rather to make man a more clever devil.
    C. S. Lewis
    Do not ever say that the desire to "do good" by force is a good motive. Neither power-lust nor stupidity are good motives. (Are you listening Barry)?:mad:
    Ayn Rand
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  6. #6  
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    Quote Originally Posted by Starbuck View Post
    This is all news to me! I, like most people, thought the health care industry was a safe haven.
    That's in the past...it's affecting everyone in the medical field now..including nurses. The ratio's are increasing too. They say it won't affect patient care...which is laughable.
    This is the beginning of Obamacare... even though it's not supposed to go into effect till 2014, hospitals are starting the cuts now. I'm not usually an alarmist...but don't get sick.
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  7. #7  
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    How far do you have to redefine the word "recovery" to call this a recovery? I'm sorry, but the US is so screwed. There is no big government answer to the problem, but that's all the politicians are good at.

    Democrats: I know how to fix this mess! More government spending, less civil liberties, more war!
    Republicans: Hold on there! You are destroying this country! We MUST cut 2% off the top of your proposed spending increase, and we will "reluctantly" agree to your erosion of civil liberties to do so. As for the war, you're waging it all wrong... whatever you propose, I propose the opposite.

    Media: The hot issue in the news today is birth control, let me play some clips from marginalized niche radio to get you riled up!
    Last edited by m00; 03-16-2012 at 01:45 AM.
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