It was a bad reality when Bush Jr was President, but make no mistake, Obama has been the 3rd and 4th terms of Bush. Nothing much has changed economically. They are both Keynesians, which is to say incredibly irresponsible, short term thinkers, when it comes to our economy. Also, before you get fired up about the unemployment statistics, what does it say about our statistics, when even the biggest lying, unelected 4th branch of our government, the Fed, has to create it's own labor statistics, because it doesn't trust the unemployment statistics? Wow.
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The media likes to talk about unemployment. But the unemployment rate is so gimmicked to make the economy look strong, that even THE FED had to create its own employment metric. When even the Fed calls out data for being phony, you know it’s complete fiction. The Fed’s metric for job growth is the labor market conditions index. And it is firmly in recessionary territory.
An even more sensitive measure of the economy is tax receipts. The two that matter most are state sales tax receipts, which indicate how much people are spending, and Federal Personal tax receipts which show who has a job. BOTH are collapsing into recessionary territory.
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