CHEYENNE, WY – 6/13/16: Two weeks ago I watched with some surprise a TV speech given by President Barack Hussein Obama. In it, he describing his achievements during almost eight years in the White House.
To watch him, it would seem United States citizens live in a veritable paradise: a robust economy, 75 consecutive months of job growth, and a government aggressively promoting social justice around the country.
But a summary of the state of the economy by University of Maryland economist, Peter Morici, paints a far different picture. It shows why Barack Husein Obama’s recent “victory lap” on his “great” economic achievements are mostly misrepresentations and
distortions, aimed at misleading the people of this nation.
One point Morici does NOT make in his summary is the disturbing Labor Force Participation rate. At 62.6%, it is the lowest since the Carter years. That figure points to an all-time high of 94.7 million Americans NOT participating in the US labor force. Many have given up looking for work and a growing number are trapped on government largess, with little or no hope of ever finding work.
THAT’S why Mr. Obama can say, with a straight face, that the unemployment rate is so low. It would be good if every voter had these facts. Oh, by the way: last month’s job creation figure – only 30,000 – was the lowest monthly job total in a long time. Why? The Obama Administration’s anti-business, anti-capitalist policies have taken their toll.
The chickens have come home to roost.