Posted on 06/27/2011 5:03:45 AM PDT by Lakeshark
When a new Bloomberg poll finds that 44% of Americans feel that the economy is "worse than when Obama was inaugurated" (versus only 34% who say it is "better"), you know the economic recovery is pretty anemic. Now the Joint Economic Committee has chronicled how weak it is compared to others since World War II.
In a report entitled "Unchartered Depths," the Committee finds that "employment is now 5.0% below what it was at the start of the recession, 38 months ago. This compares to an average rise in employment of 3.7% over the same period in prior post-WWII recessions."
On economic growth, real GDP has risen 0.8% over the 13 quarters since the recession began, compared to an average increase of 9.9% in past recoveries. From the beginning of the recession to April 2011, real personal income has grown just .9% compared to 9.4% for the same period in previous post 1960 recessions.
(Excerpt) Read more at online.wsj.com ...
Denial. Not just a river in Egypt.....
It has the be the public sector that's carried the water on this factoid cause it sure as heck wasn't my job.
What I don’t get is this. How on God green earth can there be 34% of any friggin pole say this economy is good.
“God green earth can there be 34%....”
simple. 34% of the country still receives their Uncle Sam monthly without change as they did 3 years ago. The RES Tof us however....
“From the beginning of the recession to April 2011, real personal income has grown just .9%”
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Yeah, sure and I have grown .9% taller since my sixty sixth birthday. Use some real figures and real income has dropped.
Moore is right as far as he takes his analysis. But we should be careful what we wish for.
As much as we hate the present slow economic recovery, the worst thing that could happen for the long-term future of America would be a robust recovery at this time. There is little or no possibility of any Obama policy working, but there is a very real danger that continued “creative statistics” and MSM marxist mischief might convince enough citizens that “socialism ain’t so bad” to subject us to another 4 years of “social justice.”
It is hard to imagine the US economy surviving until 2016 under the present regime.
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