The "official" unemployment rate for May nationally is 9.4%.Perhaps the alternative number that is almost never publicized is more appropriate.16.4%-yikes!Sort of like the $20.6 billion dollars we just spent on Federal debt interest just in the month of May alone.We probably won't hear that number repeated much as we hear about the recession ending everyday.
16.4%.This number includes the marginally attached workers.I heard it referenced more frequently when the sales pitch for the stimulus was in high gear.However,now it goes back on the shelf as it doesn't serve Obama well as he tries to tout the recession as over because of his stimulus recovery package.
Twisting the numbers to serve your agenda is of course common practice.Obama has simply taken it up a notch with his "save or create" mythical jobs report.Jobs are created in the spring and summer every year recession or not.
Every single job that is created from the $787 billion stimulus is a temp job.The census jobs are temp jobs.The President so far has only managed to kill private sector jobs and create these temp Government jobs.Is it any wonder that he and Granholm get along so well?Like 2 peas in a pod.More to come...
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