Confirmed: Obama Could Already Be the Nation’s Worst Economic President Ever

According to the Bureau of Labor Statistics, Obama has the worst jobs record of any President in the last 60 years. From 1948 until January 2009 when Obama took office, there has been a combined 39 months of unemployment above 8 percent. Since Obama took office we endured 43 consecutive months of unemployment above 8 percent and no end in sight!

Peter Ferrara at Forbes reported:

The right measure and comparison for Obama’s record is not to compare the recovery to the recession, but to compare Obama’s recovery with other recoveries from other recessions since the Great Depression. By that measure, what is clear is that Obamanomics has produced the worst recovery from a recession since the Great Depression, worse than what every other President who has faced a recession has achieved since the Great Depression.

In the 10 previous recessions since the Great Depression, prior to this last recession, the economy recovered all jobs lost during the recession after an average of 25 months after the prior jobs peak (when the recession began), according to the records kept by the Federal Reserve Bank of Minneapolis. So the job effects of prior post Depression recessions have lasted an average of about 2 years. But under President Obama, by April, 2013, 64 months after the prior jobs peak, almost 5½ years, we still have not recovered all of the recession’s job losses. In April, 2013, there were an estimated 135.474 million American workers employed, still down about 2.6 million jobs from the prior peak of 138.056 million in January, 2008…

…Moreover, that U3 unemployment rate does not count the millions who have dropped out of the labor force during the recession and President Obama’s worst recovery since the Great Depression, who are not counted as unemployed because they are not considered in the work force. Even though the employment age population has increased by 12 million since the recession began, only 1 million more Americans are counted as in the labor force. With normal labor force participation rates, that implies another 7.3 million missing U.S. jobs, on top of the 2 ½ million missing jobs we are still short from when the recession began, for a total of about 10 million missing jobs.

If America enjoyed the same labor force participation rate as in 2008, the unemployment rate in December, 2012 would have been about 11%, compared to the monthly low of 4.4% in December, 2007, under President George Bush and his “failed” economic policies of the past. We will not see 4.4% unemployment again, without another fundamental transformation of America’s economic policies.

52 Media Orgs Sign Letter of Complaint to Eric Holder

The journalist group Reporters Committee for Freedom of the Press has penned a letter of complaint to U.S. Attorney General Eric Holder after revelations that the Department of Justice obtained the phone records of some 100 reporters from the Associated Press.

The letter informs Holder that the group was “stunned” to learn of the DOJ’s actions against the Associated Press and notes that none of them could “remember an instance where such an overreaching dragnet for news gathering materials was deployed by the Department.”

“The scope of this action calls into question the very integrity of Department of Justice policies toward the press and its ability to balance, on its own, its police powers against the First Amendment rights of the news media and the public’s interest in reporting on all manner of government conduct, including matters touching on national security which lie at the heart of this case,” the letter states.

The letter continues to outline the legal implications, processes, and the law governing the DOJ’s requests for such records and ends by demanding that the Dept. of Justice “immediately return the telephone toll records obtained and destroy all copies” it holds.

Read more here.

Yes, Paul Ryan Spoke the Truth About Obama’s Fiscal Record at the Republican Convention

Progressive bloggers and TV personalities are up in arms about Paul Ryan’s speech at the Republican National Convention last night. Several of their accusations revolve around Paul Ryan’s own fiscal record, and his description of President Obama’s. I asked my liberal friends on Twitter to send me an itemized list of Ryan’s alleged lies, and they kindly obliged. So far, Ryan appears to have the better of the argument.

Read more here.

Are Your Second Amendment Rights at Stake?

Just as recently as March, Obama is quoted as saying the following on gun control: “We have to go through a few processes, but under the radar.” Now we get word that the United Nations is working on a global “Small Arms Treaty” to fight “terrorism”, “insurgency” and “international crime syndicates.” Former UN ambassador John Bolton warns “gun owners to take this initiative seriously, stating that the U.N. ‘is trying to act as though this is really just a treaty about international arms trade between nation states, but there is no doubt that the real agenda here is domestic firearms control.’” What would this initiative do? From Forbes …

* Enact tougher licensing requirements, creating additional bureaucratic red tape for legal firearms ownership.
* Confiscate and destroy all “unauthorized” civilian firearms (exempting those owned by our government of course).
* Ban the trade, sale and private ownership of all semi-automatic weapons (any that have magazines even though they still operate in the same one trigger pull – one single “bang” manner as revolvers, a simple fact the ant-gun media never seem to grasp).
* Create an international gun registry, clearly setting the stage for full-scale gun confiscation.
* In short, overriding our national sovereignty, and in the process, providing license for the federal government to assert preemptive powers over state regulatory powers guaranteed by the Tenth Amendment in addition to our Second Amendment rights.

Now, in order for this to take effect in the United States, the Senate would have to ratify it. But we are currently talking about a Democrat Senate …

Remember – and think about this carefully – when guns are outlawed only the government will have guns.

%d bloggers like this: