On Tuesday night’s The Tonight Show with Jay Leno, President Obama sat down with the king of late night and once again misled the American people about the state of our economy—as well as other issues like his signature piece of legislation Obamacare. When Leno asked Obama to comment on an improving economy, the President confidently proclaimed:
“The unemployment rate has been ticking down, and housing is improving. We’ve seen the deficit cut in half. Health care costs are actually going up slower than they have in — any time in the last 50 years. So there are a lot of good trends.”
All of that sounds nice, and what the people want to hear from their leader, however when you breakdown the latest jobs numbers—as well as begin to understand the soon to be realities of Obamacare—you can begin to fully understand how Obama is disguising an economy on life support.
The 162,000 jobs created in July—weaker than anticipated by many business insiders—still led the Bureau of Labor and Statistics to knock the unemployment rate down from 7.6% to 7.4%. So how does such a low jobs number make it appear that the economy is improving when we know from history that 250,000 jobs per month are needed to let alone sustain a healthy economy?
The answer is simple; first the bureau does not count the number of people who have either given up looking for employment or dropped out of the workforce all together—which rose to 240,000 individuals. With this many people leaving the workforce you would think there would be a negative impact to the overall unemployment rate—however by changing jobs numbers in April to a lesser number, along with failing to ignore the number of workers who are no longer looking for work, the bureau came up with a net of 227,000 jobs—thus making it seem we are in a healthy economy.
The second part that the President and the bureau don’t tell you, are that of the 900,000 jobs created in 2013, 600,000 are part-time. This can be given thanks to President Obama’s signature piece of legislation—Obamacare.
Even though the employee mandate has been pushed back by the White House to 2015—happening earlier last month—employers have already begun to prepare for the mandate—which makes businesses with fifty or more workers who work 30 or more hours per week, provide health care to their employees or pay a tax for each individual not covered.
There you have it; a health care law that has yet to go in place, plus the cooking of the books by the Bureau of Labor and Statistics, gives you an economic formula known as Obamnomics. However this failed policy plus phony math cannot hide the real numbers such as the lack luster GDP growth rate at 1.7%, showing we’re nowhere near the 4.0% growth rate we normally see in a healthy growing economy that our campaigner and chief so adamantly claims.