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HIP HIP HOORAY FOR OBAMA!

FactCheck Embarasses The One

Lets’s all stand and give three big cheers for the wun’nerful ah wun’nerful economic accomplishments of the Oba-maniacs, the Obama congress. They dwarf the negative accomplishments of the previous administration and now stand proudly on their own merits.

[Note: drag beaten and battered Bush effigy off political stage... stage-left]

Unemployment (BLS version) as of  January 2009 was 7.8%. Now is at 9.1%(1).

Unemployment (real total)* as of January 2009 was 15%(2) . Now is at 21.9%(3) . *The “real total” includes the long-term unemployed who have stopped looking and who have fallen out of the workmen’s compensation extended coverages. In times of continuing economic stress and unemployment the BLS numbers are really meaningless and are used for political cover.

“[The proportion of employed young people is at the lowest level in 60 years. According to the National Journal, the "idleness rate" -- the share of Americans younger than 24 neither at work nor in school -- is rising, creating "the risk of what Harvard University labor economist Lawrence Katz calls 'a lost generation.'"

The most troubling aspect of today's unemployment may be its intractable nature. About 6.2 million Americans, 45 percent of the unemployed, have been jobless for more than six months -- the highest rate since (here it comes again) the Great Depression.

The longer a person is unemployed, the harder it is to land a job. The median time to find a job is now, yet again, at a historic high. According to the Wall Street Journal, nearly one-third of the unemployed -- 4 million people -- have been jobless for more than a year.]”(9)

Gross Domestic Product – “To summarize, real per capita GDP is presently declining at an annual rate of -0.29% versus a positive growth rate of 1.15% under the previous administration.”(4)

Value of US dollar against the Euro. Euro as of 2009 was $1.2394USD(5) .  Now is 1.4235USD(6) An increase in the exchange value of the Euro representing a 14.8% loss in value for the US $.

Value of US dollar against the Yen(JPN). Yen  as of January 2009 was 90.57Y for $1.US(7). Now is 80.19Y(8) .An increase in the exchange value of the Yen representing an 11.4% loss in value for the US $.

The economics of international money values makes the average citizen’s hair follicles hurt in trying to comprehend it, so I’ve simplified it down to a basic relevancy of % loss in dollar value that anyone can understand.

Doing research for this piece I came upon an Annenburg FactCheck report (pictured above) that purports to highlight discrepancies in an email forward. It makes note of relatively ‘minor’ errors, but in updating their report for accuracy they actually support the original email purpose,  which I found rather humorous. I’ve posted their “Report Card”, which they proudly describe as such to show how they’ve actually accentuated the negatives about Obama. Thanks for the cordial assist FactCheck.org. in documenting the Obama piss-poor performance for two full years. I’m lovin’ that last statistic on their “Report card”.

Citations available here>  http://www.factcheck.org/2011/02/sorry-statistics/

Obama…, he certainly is The One! The one to vote against in 2012.

Sources:

(1) http://money.cnn.com/2011/06/14/news/economy/obama_economy_republican_debate/index.htm

(2) http://allamericaninvestor.blogspot.com/2009/07/real-unemployment-jumps-to-168-percent.html (see chart)

(3) http://usawatchdog.com/unemployment-5-times-worse-than-bls-reports/

(4) http://rightwingthinking.info/2011/05/22/real-per-capita-gdp-declines-on-obamas-watch-7/

(5) http://fxtop.com/en/cnvhisto.php?C1=EUR

(6) http://www.x-rates.com/d/USD/EUR/data120.html

(7) http://money.cnn.com/2009/01/16/markets/dollar/

(8) http://fx-rate.net/USD/JPY/

(9) http://www.startribune.com/opinion/otherviews/124108649.html

(10) http://i259.photobucket.com/albums/hh283/doctorhugo/FactCheckOrg_BuriesObamaWhileDebunkingEmail.gif

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