How The Media is trying to put a positive spin on today's jobs news would be funny if weren't so sad, frustrating and maddening. Here's a spin-free description of today's worst job report since WWII.
http://links.heritage.org/hostedemail/email.htm?h=8ba3604b183adc85a6dad3a4a2f36fdb&CID=9727911894&ch=13256C8C56D069000027853DD2DC956D
There's no substantive evidence I've seen that we ever got out of the recession that began 3 years ago. There's no danger of a double-dip because we're not out of the first dip yet.
Those of you who only rely on the GDP metric fail to understand it's only an estimate when a recession starts or ends. Only actual economic data can determine with certainty either the beginning or the end. For example, the so-called Bush recession began in March 2001 according to the GDP metric. However, economists now almost universally agree it began a full year ealier in March 2000 when the NASDAQ began to tank. The GDP yardstick is only a rough estimate at best.
Does it really seem to any of you that we ever actually got out of the 2008 recession? C'mon, considering we're still above 9% unemployment and the economy continues to stink? Has it ever actually felt to you like it ended yet?
A recession is happening when the economy falters and unemployment remains stuck as high levels. A true double-dip would be when there's an actual recovery to some healthy employment statistics and then a return to unhealthy numbers. When have we ever had healthy numbers in this recession? The answer is an obvious never!
Got a question for you. If Bush Jr's employment numbers had done this, what would you and especially The Media have made of it? Gads people! IMMEDIATELY AFTER his biggest tax cuts in May 2003, unemployment and federal revenues turned around. Within a few short weeks of that legislation! His policies achieved a 4.4% unemployment rate and record federal revenues that were 25% higher than anything even Clinton achieved. Even with that amazing turnaround The Media still tries to convince you that Bush's tax policies didn't help either employment or revenue ... in total denial and disregard of actual facts/data! In total disregard of common sense.
Now, 2 years after the current administration hasn't produced any results worth celebrating, after their having done everything they wanted to do, The Media is still spinning these stellar lack of results as "unexpected" in a very forgiving way. This completely defies logic and common sense. How much longer are we to put up with this nonsense?
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