Obama economic report: Stagnant job growth this year
The Obama administration predicts that job gains will average 95,000 a month, below private blue chip forecasts of 116,000 per month. In the budget proposed last week, aides projected that the unemployment rate would be 9.8% at the end of this year; it is currently 9.7%.
http://www.reuters.com/article/idUSN1416882220100211
Jobless claims fall sharply in latest week
Initial claims for state unemployment benefits dropped by 43,000 to a seasonally adjusted 440,000 for the week ended February 6, down from a revised 483,000 in the prior week, the Labor Department said.
Let's see if I can understand this. Barack Hussein Obama's highly paid charlatans are predicting that the new job bill will create about 100,000 jobs per month (normally they grossly overestimate the positive, and minusculely underestimate the negative). The Labor Department reported about 450,000 new jobless claims in the last week. Now when I whip out my handy dandy calculator, and figure 450,000 jobs lost in a week, and 4 weeks in a month, that works out to 1.8 million new job losses per month. Barack Hussein Obama estimates his job bill will be creating about .1 million new jobs per month. And if we subtract this from that, we end up with 1.7 million net job loss per month. I guess that means that Barack Hussein Obama has quite a few years before there are no jobs left in this country.
That is quite an accomplishment.
Is this how Barack Hussein Obama saved the economy last year?
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