Now I get Obamanomics! First we have to give up hope of new jobs, then….

More and more Americans have given up on finding employment. As that number grows, the lower that pesky unemployment rate drops. So, once everyone just throws in the towel, the sooner we can all revel in a o% rate of unemployment! See, Obmanomics does work! At least that is what the Left thinks apparently

According to the AFP, President Obama “shrugged off” this morning’s miserable economic news, and instead focused on thephony unemployment rate which keeps falling as more and more Americans despairingly give up on looking for work.

“After the worst economic crisis since the Great Depression, our businesses have now created more than 4.2 million jobs over the last 26 months (and) more than one million jobs in the last six months alone,” Obama said at a school in the crucial election swing state of Virginia.

Of course he didn’t mention the news that the number of new companies created has hit an all time low.

The rate of new company creation in the United States dropped to a record low in 2010, according to a survey by the US Census Bureau’s Center for Economic Studies and the Ewing Marion Kauffman Foundation.

Researchers found the business startup rate fell to 7.87 percent,Reuters reported. It’s the first time it’s dipped below 8 percent. The startup rate was at its highest in 1987, when it was 13.02 percent.

New firms as a percentage of all firms also decreased in 2010, the data, published on Wednesday, show. New companies – defined as firms less than five years old – were 35 percent of all companies in 2010, down from 49 percent in 1982, CNN reported.

Only 12 percent of US employment in 2010 was at new companies, compared with 20 percent in the 1980s, Reuters reported.

What else would we expect from a Marxist who does not believe in American Exceptionalism?

One thought on “Now I get Obamanomics! First we have to give up hope of new jobs, then….”

  1. I am not a Marxist.
    Barack is not one too.
    Call us socialists if you will
    Labels do not matter
    To those who care
    Or to those who care to think.
    To a good Christian or Muslim
    Charity is a necessity.
    Fairness, not charity, is what we seek
    Putting the needy before the greedy
    Is our program and our creed
    Doing right for the many
    Not right for the Right few
    It is time to put our differences
    To the side and be done
    The Founding Fathers gave us more than they received
    Let us emulate their vision and their wisdom
    We can/must advance the cause of freedom and equality
    Both here and abroad
    Let us lead by example
    Not by force and bluster
    We can make the US number one again
    In the hearts of all mankind.

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