8.1 Percent, 7.8 Percent -- Whatever
To the millions of Americans unable to find work, to college graduates who can't get a job and are living with their parents, to the underemployed who are working at jobs far below their skill set and experience, and to those who have given up looking for work altogether, a 7.8 percent unemployment rate is meaningless. The economy stinks.
And try as they might -- and they are trying mightily to rescue a man they sold to voters four years ago as a political messiah -- major media can't seem to transform a failing president into a success.
"Fall in jobless rate strips Romney of an argument" was the gleeful headline in the
Does one have to be the economic equivalent of a "birther" or "truther" to question the timing of unemployment numbers below 8 percent, especially so close to an election?
Far more ominous is the rapid rise in gasoline prices in
It sounds like the plot of a disaster movie, which, in fact, it is. Timed perfectly to address public angst is "Atlas Shrugged II," the second film in a planned trilogy, opening
Though "Atlas Shrugged" was published in 1957 as a warning against centralized political control, the movie's message is as contemporary as today's news.
The film's producers describe the storyline on IMBD.com this way: "The global economy is on the brink of collapse. Unemployment tops 24 percent. Gas is
That "someone" is the government. Its "fair share law" limits production and, to borrow a modern term, seeks to "spread the wealth around," thus stifling innovation, risk-taking and capitalism. If Taggert finds the creator, government loses.
Democrats hail the 7.8 percent unemployment number without irony, having criticized the Bush administration in 2004 when unemployment was 5.4 percent and gas prices were below
This is not cause for celebration.
The best course for economic revival is to fire the president. Re-electing Obama will only give us four more years like the last four. Some of those working part time, or at jobs they cling to out of necessity, may well find themselves part of a higher jobless rate with dim prospects for their future.
If the Obama policies continue, "Atlas Shrugged" won't be a work of fiction. It will be seen as prophecy.
- Another Side of Economic Inequality
- Don't Cut Our Kids Out of the Budget
- Republicans and Democrats Playing Game of Economic Chicken
- The Trojan Horse in the Debt Debate
- The Dead-End Servant Economy
- Q&A with Joseph Stiglitz: 'The Price of Inequality'
- 8.1 Percent, 7.8 Percent -- Whatever
- Slowdown of the Chinese Economy Pushing The World Towards New Crisis
- Mitt Romney's Question-Mark Economy
- A Vanishing Act for Good Jobs
- Economic Recovery Hinges on Re-Creation of 'Basic Bargain'
- Tips for Adapting to the New Global Economic Reality
- Fix the Minimum Wage
- AT&T's Upside-Down World
- Rooting Out Fake Job Creators
- A Bold New Call for a 'Maximum Wage'
- Percolate-Up Economics
- A Modest Proposal: Three Weeks of Paid Vacation
- The Paul Ryan Choice
- We're All Subsidizing Free Lunches for America's CEOs
- No Need for a Witch Hunt Over Executive Pay
- Curiosity -- America's Endangered Triumph
- The Rich Grabbing Bigger Slices of Pie
- The Terrible Economy and the Anti-Election of 2012
- Outsourcing Is Not the Problem
- Marching Toward Greater Inequality
- Turning College Students into a Commodity
- Financial Markets, Politics and the New Reality
- The Libor Scandal: Blame Barclays Not Capitalism
- Coming Soon to Wall Street: The Biggest Scandal Yet
- Economic Rapture Might Be Around the Corner
8.1 Percent, 7.8 Percent -- Whatever | Politics
(c) 2012 Tribune Media Services, Inc.