Thursday, July 08, 2010

Pants O Fire

clipped from

In one of the most embarrassing displays of disingenuity ever perpetrated by an American President, Mr. Obama lauded himself for saving our country from another Great Depression during his now infamous speech in Racine, WI last week. "Now every economist who has looked at it has said that the Recovery Act [stimulus bill] did its job," proclaimed the President. "It put a brake on the collapse of the economy," he continued. "We avoided a Great Depression. We are now growing again."

It is plainly evident, however, that all of this is patently untrue. If not for the fact that 974,000 Americans had not dropped out of the workforce the past two months, the unemployment figure would be a staggering 10.1 percent. Actual Unemployment (U6) remains around 18 percent. We are seeing far less job creation than is needed to even keep up with the number of new workers entering the job market.

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