Posted on 02/03/2012 6:04:18 AM PST by John W
The CBO projects unemployment will rise, hitting 8.8 percent in the third quarter of the year, the heart of the campaign.
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The bombshell CBO report and why Obama should be worried
Hot Air ^ | February 2, 2012 | Ed Morrissey
Today, Politico’s Jim VandeHei reports that economic indicators should have Barack Obama worried about his re-election prospects, not more sanguine. VandeHei relies heavily on this week’s economic and deficit projections from the CBO, but perhaps not heavily enough:
A new CBO report grabbed lots of headlines for projecting the deficit will top $1 trillion this year — making Obama the first president ever to pile up $1 trillion or more every year in office. That’s not great politics. But it’s not even the worst news contained in the CBO report. The unemployment number is.
The CBO projects unemployment will rise, hitting 8.8 percent in the third quarter of the year, the heart of the campaign. That’s terrible politics. Obama advisers have told us repeatedly on background that if unemployment is above 8.5 percent in the final months of the campaign, it will be extremely hard, if not impossible, to win. The advisers say independents will not return to Obama if it looks like economic growth is anemic and uncertain and it looks like his policies did little, if anything, to create new jobs under his watch.
Economists seem divided on the question of whether robust enough economic and job growth can happen in time for Obama to benefit. Some see signs of possibility in holiday sales and consumer spending in some parts of the country. Others see more of the same: a slow slog back. The CBO sees 2.2 percent growth in the quarter ending in September, essentially the same sluggish pace of a year earlier.
(Excerpt) Read more at hotair.com ...
http://www.freerepublic.com/focus/f-news/2841602/posts
And your basing that on what exactly? The BLS numbers? They're bogus!
Do you know what the birth/death rate is with respect to the published BLS numbers? This is a part of the formula they use to come to their fictitious numbers. They literally GUESS that there must have been x number of new small businesses formed last month in the US economy and y number of small businesses that have folded. So by manipulating the GUESS they can make the final number employment numbers say anything they want.
I saw the 4lb bag of sugar the other day.
The BLS manipulates the numbers all the Hell. Such as, they remove from those counted as unemployed that have not sought work in the past 30 days. Also, they claim to interview the same 60,000 people each month, yet, where are those people? Which States and industry sectors? That “polling”, in itself, is manipulation.
See this thread explaining how 1.2 million people have dropped out of the labor force.
http://www.freerepublic.com/focus/f-news/2841974/posts
most of the people not only do not know the truth, they are not interested in learning the truth. They prefer to believe as gospel what the six o'clock news anchors tell them. The stock market will continue to do what it takes to make obama look good.
Part-timers and the abandoned not accounted for.
Go to Hell, propagandists.
This says it all. These are jobs that will never return to the US and the people that occupied them have already long exhausted their unemployment benefits so they are counted anymore.
These numbers put out by the Labor Dept are nothing but another Government agency trying to help Obama.
America will pass judgement on Obama not the media on election day!....
And what does Boehner say? Essentially nothing but “we could do better”...no mention of employment participation rate being LOWEST!!!
Boehner is essentially a useful idiot for Soros/Obama.
I just spoke to an economist at the Labor Dept and at first he denied the adjustment would be that high until he looked at the numbers and had to admit it was the reason for the drop. He then qualified it with “under every President they adjust the numbers, not just for Obama”.
I asked him what the percentage would be if the workforce numbers were the same as Jan. 2009 and he told me “9.4% to 9.5%”.
“A record 1.2 million dropped out of the labor force. Spin that.”
Most any government employee that can retire and lock in a defined benefit pension is. Florida is filling up with early retired city/state/fed employees from the Upper Midwest and NE. These are people in their late 40’s to mid 50’s and they will be retired for 30 years. They will bankrupt us.
Next up, Obama exective order requiring everyone to have a job by spring.
I think you're on to something. Maybe the way we should tally unemployment is count up the job classifieds. That should get right about 1.5% LOL!
Morning and afternoon commute times.
I thought I made that clear.
There is a lot more traffic this year than there has been in the last 2 years. To me that is the LEADING economic indicator. When the time it takes to get to work is increased, then the logical conclusion is that there are more people going to work along with you.
So by manipulating the GUESS they can make the final number employment numbers say anything they want.
What if the economy IS improving? Would that upset you? Is our only weapon to use against Obama the fact that the economy is worse than when George W Bush left office? What are we going to do if the Stock Market is above 14,000 and unemployment is below 8% come November?
What will our campaign strategy be then?
For a complete and total destruction of those numbers:
This isn't cooking the books, it's nuking them.
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