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Quote of the Day

From Louis Woodhill, a contributor to Forbes:

 

So, how were the December employment numbers? They were terrible. December was an awful month, capping a horrendous first Obama term in office. The current jobs situation could only be seen “good”, or even “OK”, by someone drunk on Obama’s “new normal”.

December, America’s working-age population went up by 176,000. On the margin, only 15.9% of these people found jobs. For Obama’s first term as a whole, our adult population increased by 9.3 million, and (incrementally) not one of these new potential workers found a job. In fact, total employment actually declined by 64,000 over the past four years.

In America’s entire post-war history, nothing like this had ever happened before. The record for the fewest jobs created in a presidential term had been held by Bush 43. In his first term in office, total employment rose by only 1.82%. During Obama’s first term, the total number of jobs fell by 0.04%.

Yes, Obama inherited a severe recession. But so did Ronald Reagan, and total employment increased by 6.61% during Reagan’s first term.

It doesn’t really get more simplistic an explanation than this, especially in this economy.

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