Road to Ruin

The road to ruin is paved with phony numbers. The Obama administration trumpeted success this week, although the President himself generously acknowledged more needs to be done, with the announcement that unemployment had fallen to 9.7%. This figure should astound as it is either manipulated or downright fabricated to give Obama some positive spin. In the same week that it was announced that the previous year had been worse for employment with a figure of 8.4 million jobs lost- the number revised a million upwards, and with employers not adding but cutting 20,000 more positions for the week, how could the rate of unemployment be heralded as going down? The Department of Labor provided a nominal figure while failing to mention discouraged job seekers who had simply given up looking and unemployed workers who had been jobless for so long that their benefits simply ran out. If these numbers were included, the true unemployment rate would be well over 15%, and if you take into account the underemployed who were forced to accept much less than they are qualified for and used to earning, we see the US is still gripped by an economic calamity.