How's that Hopey-Changey" thing working out for you ??" - current unemployment rate for young folk is at 16.5%

As a fairly Famous pundit likes to say,

" How's that Hopey-Changey" thing working out for you ??"

Obama and his failed economic plans have hurt his two main constituencies, Younger Voters and Minorities.  Unemployment among both groups is sky high, higher than it has ever been and much higher than when the GOP was in control.

So the overriding question is:

WHY would anyone in either group vote for more of the same ???

Because they are uninformed, voting based on the color of the candidates skin, or they are gullible enough to give President OBOZO another 4 years to muck things up.

The bottom line is that the President has failed and the idea of anyone under 25 giving him another 4 years proves that P.T. Barnum was correct when he said;

"  There's a sucker born every minute. "

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Recession erases 2.7 million youth jobs, widens employment gap
By Tiffany Hsu - LA Times
July 13, 2012

Had the recession never happened, there would now be an additional 2.7 million jobs for young workers, according to a report this week.

Instead, there’s a Chicago-sized hole in the employment market for people between 16 and 24 years old, according to nonprofit, nonpartisan advocacy group Young Invincibles.
And there’s a good chance that gap will never close, to potentially devastating effect, according to the"No End in Sight?" report.

“The scary thing is that the recession may never end for young people,” said Rory O’Sullivan, policy director for the group, in a statement.

The current unemployment rate for young folk is at 16.5% -- double the national 8.2% rate. More than two in 10 Latino youth are jobless, while three in 10 black youth are unemployed, according to the Bureau of Labor Statistics.

But that’s only considering people still in the job hunt. Fewer than half of young Americans hold any kind of job at all. And the flood of youth who hid in higher education instead of taking their chances looking for a job during the recession doesn’t make up the disparity.
If the youth labor market expands at the rate it did during 2004 – the best year of the last decade – it could reach its pre-recession health by 2016. If it grows at the 1990s rate – during the longest economic expansion in the country’s history – it could recoup its losses by 2021.

The Young Invincibles report, however, takes a more pessimistic stance, echoing earlier predictions from the Bureau of Labor Statistics that young people may never regain their 2007 employment levels.

The high rates of youth unemployment and underemployment will likely lead to lower earnings for life and more young people who are neither in school nor working, according to the report.

Step away from your busted ass vehicle.....

The level of desperation on display by the failing Idjit-In-Charge at the White House is the sad sign of how badly he has done over the last three years.....Watching the White House manufacture lie after lie is pathetic. Real Unemployment ( the U6 figure which counts those on unemployment and those who have expired the ability to collect benefits) is near 15%.

It makes me think about what the Men In Black said when they were arresting the bad guy at the end of their first movie:

Kay: You're under arrest for violating (The US Constitution ).

Jay: So hand over whatever (documents) you might be carrying, step away from your busted ass vehicle, and put your hands on your head

That's what we should do - send the Men In Black after him.....

People joining SSI Disability Outpaces New Jobs last three years

This is the key indicator that the present occupant of the White House isn't getting it done.   It pretty poor when more people take advantage of DISABILITY than are able to get new jobs.

Obama has got to go......really.  We need a President that understands how to create jobs and not act like a petulant teenager.

Obama is a one term President.....this is the clearest indicator he is a failed leader.


Disability Ranks Outpace New Jobs In Obama Recovery
 By JOHN MERLINE - INVESTOR'S BUSINESS DAILY

More workers joined the federal government's disability program in June than got new jobs, according to two new government reports, a clear indicator of how bleak the nation's jobs picture is after three full years of economic recovery.

The economy created just 80,000 jobs in June, the Bureau of Labor Statistics reported Friday. But that same month, 85,000 workers left the workforce entirely to enroll in the Social Security Disability Insurance program, according to the Social Security Administration.

The disability ranks have outpaced job growth throughout President Obama's recovery. While the economy has created 2.6 million jobs since June 2009, fully 3.1 million workers signed up for disability benefits.

In other words, the number of new disability enrollees has climbed 19% faster than the number of jobs created during the sluggish recovery. (Even after accounting for people who left the disability program because they died or aged into retirement, disability ranks have climbed more than 1.1 million in the past three years.)

And the disability ranks will continue to swell. In just the last month, almost 275,000 put in applications for disability benefits. Experts say that more people try to get on disability when jobs are scarce, and changes to eligibility rules enacted back in 1984 have made it far easier to qualify.

In addition, while hiring has been very weak during the recovery, the number of people who have dropped out of the labor force entirely has exploded by 7.3 million since June 2009, an IBD analysis of BLS data show. Some aged into retirement, but most either signed up for disability, stayed in school, moved back in with parents, or just quit looking for a job.

As a result, the "labor force participation rate" — the number of people who have jobs or are actively looking for one compared with the entire working-age population — is now 63.8%, down from 65.7% in June 2009. This participation rate is at the lowest levels in 30 years. In previous recoveries, the participation rate has almost always risen, not fallen.

Other indicators show that the three-year-old economic recovery isn't producing jobs in adequate numbers:

The unemployment rate has been above 8% for 41 consecutive months. In the previous 60 years, the jobless topped 8% in a total of only 39 months.

The number of people with jobs is still nearly 5 million below its pre-recession peak.

The number of long-term unemployed — those out of work 27 weeks or more — is still 5.4 million — almost 1 million higher than when the recovery began, and almost twice the level it ever reached prior to Obama's recovery.

In our lifetime....

Place this along the lines of " The beatings will continue until morale improves..."

IF we could have a mature competent person in the White House, instead of the present occupant who acts like a petulant teenager who is partying on his parent's credit card, we might see improvement on the economy sooner.

The Campaigner-In-Chief is NOT the person we need running our country for the next 4 years.  Time to go Obama, and take your Nanny-State Wife with you.....We have had enough of your brand of "do as I say, not as I do" crappola.....really.

All is not well.....

Just the facts - 2 years of the Failed Stimulus Program cost more than the entire Iraq War

Facts are funny things as you can't debate facts.

You can debate philosophies, political points-of-view and such but the facts stand.

For all the whining/wailing/complaining from the lefty loonies about the cost of the Iraq war, the DEM controlled Congress managed to spend more $$$ on the failed stimulus program in 2009-2010 exceeding the cost of the entire 8 years of the Iraqi war. While the funding for the war was high, to exceed that amount in a 2 year period and have nothing to show for it but continued 9+% unemployment shows the facts show that Obama and his lefty co-horts spent an incredible amount of money and gained no results. The prior administration spent a significant amount of money and we gained a free Iraq, more stability and a true change in the Middle East.

Facts. Not hyperbole or opinion. Just the facts.

CBO: Eight Years of Iraq War Cost Less Than Stimulus Act
Fox News Analysis

As President Obama prepares to tie a bow on U.S. combat operations in Iraq, Congressional Budget Office numbers show that the total cost of the eight-year war was less than the stimulus bill passed by the Democratic-led Congress in 2009.

According to CBO numbers in its Budget and Economic Outlook published this month, the cost of Operation Iraqi Freedom was $709 billion for military and related activities, including training of Iraqi forces and diplomatic operations.

The projected cost of the stimulus, which passed in February 2009, and is expected to have a shelf life of two years, was $862 billion.

The U.S. deficit for fiscal year 2010 is expected to be $1.3 trillion, according to CBO. That compares to a 2007 deficit of $160.7 billion and a 2008 deficit of $458.6 billion, according to data provided by the U.S. Office of Management and Budget.

In 2007 and 2008, the deficit as a percentage of gross domestic product was 1.2 percent and 3.2 percent, respectively.

"Relative to the size of the economy, this year's deficit is expected to be the second largest shortfall in the past 65 years; 9.1 percent of gross domestic product (GDP), exceeded only by last year's deficit of 9.9 percent of GDP," CBO wrote.

The CBO figures show that the most expensive year of the Iraq war was in 2008, the year when the surge proposed by Gen. David Petraeus and approved by President Bush was in full swing and the turning point in the war. The total cost of Iraq operations in 2008 was $140 billion. In 2007, the cost of Iraq operations was $124 billion.

According to an analysis by the American Thinker's Randall Hoven, the cost of the Iraq war from 2003-2008 -- when Bush was in office -- was $20 billion less than the cost of education spending and less than a quarter of the cost of Medicare spending during that same period.