David Stockman Shock Blog: The Real Unemployment Rate Is 42.9% (Jun 30,2015)If you have 212 million Americans of working age(16 and 68) and you have 93 million out of work so the math is easy. At 44.2 % its worse than the Great Depression of 1932. When unemployment was 25% in 1932-33, there were not any federal welfare/entitlement funds provided. The populace experienced true unemployment and did without means of most government support. Charitable organizations provided some meals, some shelters, some relief. Nowadays with all the welfare/entitlements provided in various ways, it’s believable we have 42% unemployment as the food stamps/Section 8housing/Income Tax/child care/disability programs remove any incentives to work for sustenance.
And the ones still working, feel like fools for working hard to enable the takers, the moochers to exist in their present lifestyle.
