A Clear Unemployment Picture

May/14/2012 16:29PM
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This is the platform that Obama must run on and against. The jobs situation in this country is abysmal. And, not getting better.

I’ll keep it short. Only 63.6% of Americans are working. It’s the smallest percentage in 30 years. It includes those who are looking for work.

There are 2.36 million who looked for a job over the past year, but quit looking 4 weeks ago. This group is labeled discouraged by the government. A year of rejection will do that to a person.

When discouraged, and after you run out of unemployment compensation, there are few options to put food on the table. One, unfortunately, is social security disability. Since 2007 the number of people on that program has jumped from 7.1  million to  8.7 million. An increase of 22%.

Meanwhile government services and entitlements go up with fewer people to pay the tab.

The state of California is the poster child for this situation. They now find the budget deficit is greater than projected. Everyone with high school economics experience could have told them that. They grossly overestimated the return they would get on invested money. Now they have no money to invest. They may run out of money completely by next month.

Meanwhile, the incumbent president is stumping the country telling all in soaring rhetoric that he can solve all  this by taxing the rich.  California has been taxing the rich. So much so that the rich are leaving and the problem just gets worse. Why?

Let’s recap. Fewer people working, more people dropping out of the workforce, more companies leaving the state and taking jobs with them, and the demands of those who rely on the state for pensions and support are growing and the tabs for this group keeps going up with inflation clauses.

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