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  • Obama's Crystal Ball Wrong on Unemployment Once Again

    A little over three years ago, President Barack Obama’s advisers released a chart that purported to predict the future. With the President’s almighty stimulus, they said, unemployment in America would plummet. And the President promised that unemployment would never rise above 8 percent.

    Well, they were wrong.

    In the chart below, we take a look at where unemployment is today and where the President’s advisers said it would be. As you can see, there’s a significant difference. (article continued below)

    In a new report, Heritage’s  analyzes the latest jobs numbers for March 2012 and explains why they’re so disappointing:

    The labor market made some gains in March, although the 120,000 new jobs were well below expectations of 200,000-plus. The Bureau of Labor Statistics also announced that the unemployment rate ticked down another tenth to 8.2 from 8.3 percent, largely due to rounding. Even this modest improvement in the unemployment rate reflected ill fortune, because it was due entirely to a marked shift of workers leaving the labor force instead of finding new jobs.

    On balance, the March report is clearly disappointing and indicates that the labor market recovery is still struggling even years after the recession’s end. This report is cause for concern for those hoping that the economy would tick up and the unemployment rate down quickly over the next 12 months.

    Read more of Hederman’s report, Heritage Employment Report: March Report Mixed, on Balance Disappointing.

    Posted in Featured [slideshow_deploy]

    12 Responses to Obama's Crystal Ball Wrong on Unemployment Once Again

    1. John A says:

      From the Czech Republic News Service – not even from an American source. What American in their right mind could possibly argue witht his comment:

      "……"The danger to
      America is not Barack Obama but a citizenry capable of entrusting an
      inexperienced man like him with the Presidency. It will be far easier to
      limit and undo the follies of an Obama Presidency than to restore the necessary
      common sense and good judgment to a depraved electorate willing to have such a
      man for their President. The problem is much deeper and far more serious
      than Mr. Obama, who is a mere symptom of what ails America . Blaming the
      prince of the fools should not blind anyone to the vast confederacy of fools
      that made him their prince. The Republic can survive a Barack
      Obama. It is less likely to survive a multitude of fools such as those
      who made him their President."

      • Bobbie says:

        not bad for the Czechs, eh? but every man was inexperienced with the Presidency. Preparation before and the months after is experience enough! There were people to advise him the necessary measures to take for America to recover that he took part in causing, instead chooses to excuse, ignore, fabricate any discipline for recovery. His actions involve himself to where he is constitutionally ban. He's more than the symptom when he's the spokesperson but doesn't stand accountable and all actions promote government and nothing he does respects American principles or the people that live them. Nothing moves without his dictate. We're in a terrible, serious, man made predicament that bad attitudes continue to lead. Without Mr. Obama instigating the problems America has today, we wouldn't be ailing. I believe the Republic will survive Barrack Obama. Many people "some call fools," will become wise and the rest will rise in violence in honor of the President, his pastor, his favorite reverends and his good friend vannie jones. oh and louie! Oh and lets not forget his favorite white racist friends, the communist activists and tv communists media talk show hosts.

      • Robert says:

        Thats exactly what my wife and I thought. Its as if people wanted to simply be apart of electing the first black president despite the facts in their face. Treating it more like they were voting for American Idol than the American Presidency. Foolish indeed

    2. Reddogranch says:

      Interesting chart but its wrong in one area- the actual unemployment numbers. The Unemployment numbers put out by the Dept of Labor reflects those people who are unemployed and are receiving benefits. What the DoL is omitting, and my doing so, provides a false belief that the level of unemployment is falling. This is done by not counting the people who have run out of unemployment benefits, have taken a part time job or just quit looking for work.
      It the real truth be told, the REAL unemployment benefits would be at least twice the published, or 16-17%.

      Thus the story told by the Obama administration is that business is booming because unemployment is dropping! No, Mr.P, its because people are running out of their 99 weeks of unemployment benefits

    3. Government has become the biggest employer. Government does not create wealth it can only reallocate or redistribute wealth. The private sector is the wealth engine that leads to job creation. Any objective businessman, excluding crony capitalists like Buffet, GE, green companies, will testify to the fiscal impossibility under the tax, regulate, dictate, mandate, Leviathan laws for recovery. Business owners are fearful of their government and are afraid to take risk with an anti-free market Obama in office. See Osawatomie speech. It will be an eternity for businesses to see if Obama wins reelection by diverting attention from his record with help from a complicit media. If reelected; stagnation, recession are the best that can be achieved. If it becomes clear Obama will be defeated consumer and business confidence will skyrocket.

    4. Bobbie says:

      There's no truth! NONE! Obama speaks words that sound positive but they're just words that intentionally divert his reality and true agenda. He doesn't allow what needs to be done and speaks using the weakness of untruths to make the sound advice of others his cowardliness won't even take on making it certain through his lack of clear thinking, it's not going to happen! Cause he doesn't like sound advice or the mouths it comes from. The President needs more hand holding then the people he insists (by force) on holding his.

    5. Stirling says:

      The jobs numbers are more in-line with Western European nations, which have slow or stagnant growth. Since the Administrations policies mirror that of those countries it's not hard to see the disconnect from what America's recoveries of the past used to be.. Obama is trying to undo 200+ years of the way this country has done business, and transform it into the current Western European Socialist Model. To fit the European model the unemployment rate has to be high, or less people in the job force to achive the dependency on government as a result.

    6. Brad S. says:

      Straw poll everyone . . . Raise your hand if you are surprised that increased Gubmint spending did not create jobs ? Ok, how about "saving" jobs ? Ok, how about – is anyone surprised that the Gubmint changed the way they figure the unemployment rate ? The graph should really be flat from Oct. 2009 to the present. Please publish the real numbers Heritage. Don't use the BLS numbers . . .

    7. Sandy Caruso says:

      Hopefully after November Obama's unemployment figures will fade into the sunset as we elect a NEW POTUS.

    8. Pete says:

      A thought.. Suppose the premise of Mr. Obama is that the US Economy is too rich and uses too many resources.. Suppose he does not want to increase the size of the the US economy because it is unfair. I suggest the evidence from his actions is that the US employment rate must not improve- if he can help it.. because our economy would use too many more resources and that would be unfair.

      • Bobbie says:

        The President should be proud of a rich economy as long as the tax paying government oversight wasn't to impose government rule over the business which is unconstitutional (but that's exactly what they're doing with tax dollars) by protecting the people and available to the people for legitimate complaints that should be determined by common law and doesn't reflect discrimination by race, bias, or creed!
        The amount of resources America has is there to use!
        What do you mean "our economy would use "too many more resources" that would be unfair?" To who?

    9. Dan Phillips says:

      Every single month since this administration has begun the monthly employment numbers have been adjusted for the worse. Now with the speed of information it is very obvious what is going on.
      Watch what happens between now and election. Also watch after the election how they are adjusted.
      If the republicans win they will be worse and blamed on the new president and if not then they will be just swept away.
      Why can't this information get to the public.
      Someone is trying to get it out.
      If enough people will go to the website http://www.thelastwillbook.com and get that book it will stir them up to vote.

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