Saturday, May 7, 2016

Obama spins economic news, again

So, Obama held a presser telling us how well the economy is doing. He announced that 160,000 new jobs were created in April 2016. This is good news, he says. People who do not ask questions will accept Obama's affirmation of this economic news. But, I ask, is the economy doing better after 7.5 years of Obamanomics? Here are the statistics. You can decide for yourself.
  1. A majority of those 160,000 jobs are part time, mainly because Obamacare forces people who have too many full-time jobs to pay for health insurance for those workers, and they can't afford that, so they just create part-time jobs. For more on this, read "The truth about Obama's economic numbers."
  2. The 160,000 new jobs supposedly created in April is the fewest announced created jobs in seven months.
  3. The number of American workers not working is 94.04 million. There are 210,220 working age people in the United States, so that means the unemployment rate is 40%.
  4. People's incomes are not rising!
  5. People do not have more disposable income. 
  6. People do not have more liberty and freedom with their money.
Without rising productivity, you can't have rising wages, and you can't have increased salaries. You just can't have it.

Those 95 million Americans not working have to have their livelihoods paid for by someone. Someone has to pay for the food on their table, or beer in their refrigerator. Someone has to buy their cars and pay for their gas. Someone has to pay for their iphones and service. Someone has to pay for them when they get sick. 

So those who are working are flipping the bill. And small businesses are paying for the not working rather than creating jobs for the not working. 

So not only is the government spending more and choking more, it is making the economy where the American dream languishes, smaller. Yet here you have Obama at a press conference speaking of how much the economy has improved. Millennials fall for this because they have never seen a robust economy. To them, this is robust.