Obama’s Economic Policies Have Hurt America – Expect More of the SamePosted by J Craig on August 7, 2013
The Obama economy has been far from great during his presidency. It hasn’t even been average and his administration continues to tout his economic plan as this big job creator. We were supposed to see 5% unemployment and major growth thanks to his $800 billion stimulus from his first term. Wait, the shovel-ready jobs that weren’t so shovel-ready after-all had to have been George W Bush’s fault. Or something like that.
President Obama and his liberal policies have taken a poor situation and made it worse, much worse. He arrived at a fire with a hose full of gasoline and expected something very different than what has occurred. His policies have hurt our economy. Those who have been hurt the most are the Millenials.
Generation Opportunity, a national non-partisan organization advocating economic opportunity for young people through less government and more freedom released their Millennial Jobs Report for July 2013 and it isn’t positive.
- The effective (U6) unemployment rate for 18-29 year olds, which adjusts for labor force participation by including those who have given up looking for work, is 16.1 percent (NSA).
- The declining labor force participation rate has created an additional 1.8 million young adults that are not counted as “unemployed” by the U.S. Department of Labor because they are not in the labor force, meaning that those young people have given up looking for work due to the lack of jobs.
- The (U3) unemployment rate for 18-29 year olds is 11.6 percent (NSA). The (U3) unemployment rate for 18-29 year old African-Americans is 20.9 percent (NSA); the (U3) unemployment rate for 18-29 year old Hispanics is 12.4 percent (NSA); and the (U3) unemployment rate for 18–29 year old women is 10.8 percent (NSA).
President Obama’s policies and EPA regulations are killing jobs. Companies are not hiring as they normally would because of the government’s foot being placed on their necks. Businesses are laying off workers because of Obamacare. This is not politics or sending a personal attack message towards the President. This is simply how business and an economy works. Sadly, this President has no idea how an economy works.
The Obama Administration continues to act as if the economy is improving. They look at the new national unemployment rate for July, which is supposedly 7.4% and say that things are looking up and more people are starting to go back to work. This is simply not true. They are using a rate that doesn’t measure our true unemployment numbers. They never mention how many people drop out of the workforce and have given up because they can’t find work. You can’t drop the unemployment rate from 7.6% to 7.4% when the economy is barely creating enough jobs to keep up with population growth. People gave up searching for a job. That is why the unemployment numbers decreased. These numbers fail to tell the big picture and the reality of our situation. The reality is that America is worse off under President Obama and his policies have done nothing except turn full-time workers into part-timers. We have seen 953,000 jobs created in 2013 thus far and 77% of those have been part-time. This is unacceptable.
Where is the recovery Mr. President? We simply don’t see it.
The labor force participation rate, which measures the number of working age Americans (16-64) actively working or looking for work is the lowest it’s been in more than 30 years. For the month of July it measured at 63.4%. Nearly half of all Americans are not paying income taxes. For the first time in history, there are more Americans collecting welfare (101 million, or about a third of the country) than there are adults working full-time in the private sector (97 million, or less than half of adults). This is completely astounding, but welcome to Obama’s America. Change? You got it. Hope? Too many have lost it.
The people who have been hurt the most under Obama are young people, Hispanics, Black Americans, and single moms. Sadly, these are who he promised he would help the most. At least the campaigning Obama promised this. A much different guy from the one trying to play President.
Mr. President: Stop spending so much of our money, start reducing the enormous amounts of burden you place on businesses, and take some lessons from the actions of another President, Ronald Reagan. He created more jobs in one month than you have all year, but then again sir, you are no Ronald Reagan.
President Obama has not learned from his mistakes from his first term. He is going around campaigning and advocating for the same failed policies. He will not wake-up and realize that big government economic policies are a complete failure. His ignorance will once again, unfortunately lead to many American’s experiencing very tough times. What is sad is that the media will continue cheer-leading for him because they must prove to everyone how right they were in helping to get him elected…again. This only hurts America. Barack Obama has hurt America.
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