How Many Will Crash By November 2014?

 

 

2013JobGrowthVs1983to1988

 

 

” As 2014 begins, President Barack Obama’s approval rating is at its lowest point in his five-year tenure. Imagine where it would be if the establishment press treated him the way it did George W. Bush.

The president’s media apparatchiks are propping up what remains of the president’s popularity with five myths.

1. The economy has become strong, and is getting stronger.

  Media reports have been calling recent job gains “robust.” Hardly. 2013′s estimated job growth of almost 2.4 million is still only 60 percent of what was achieved annually on a population-adjusted basis for a full six years during the 1980s. (See chart below.)

  Job growth should be far greater, because there is still so much ground to make up from the disastrous POR (Pelosi-Obama-Reid) economy-driven recession of 2008-2009.

  It’s bad enough that payroll employment is still 1.3 million below its January 2008 peak. It’s worse that employment in the Household Survey is 2 million shy of where it was in that same month. If we’re lucky and this plodding progress continues, it will have taken almost seven years for that more comprehensive measure of employment to return to where it was before the recession began — and several more years, if ever, before a recovery in employment catches up to eligible adult population growth.”

 

 

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