Obama Has Left The Economy And The Middle Class Buried Under The Weight Of His Failed Policies

OBAMA HAS PRESIDED OVER A RECORD PERIOD OF ECONOMIC STAGNATION

Since Obama Took Office, The Nation Has Lost 61,000 Jobs And The Unemployment Rate Has Remained At Or Above 7.8 Percent (What The Rate Was When Obama Took Office) For 45 Straight Months. (Bureau Of Labor Statistics, Accessed 10/5/12)

• Jim Pethokoukis: "10.7%: Unemployment Rate If Labor Force Participation Rate Was The Same As When Obama Took Office" (Jim Pethokoukis, Twitter Feed, 10/5/12)
• By This Point Obama's Advisers Predicted The Unemployment Rate Would Be Near 5.4 Percent. (Christina Romer and Jared Bernstein, "The Job Impact Of The American Recovery And Reinvestment Plan," 1/9/09)

• Under Obama, The Nation Has Lost 1,035,000 Construction Jobs And 610,000 Manufacturing Jobs. (Bureau Of Labor Statistics, Accessed 10/5/12)

• The Manufacturing Sector Shed 16,000 Jobs In September And 22,000 Jobs In August. (Bureau Of Labor Statistics, Accessed 10/5/12)

Former Obama Council Of Economic Advisers Chairman Austan Goolsbee Said The Jobs Numbers "Need To Be A Lot Better." FORMER OBAMA COUNCIL OF ECONOMIC ADVISERS CHAIRMAN AUSTAN GOOLSBEE: "You want to take multiple months to take an average, that's far more accurate than any one month. If you look at the last few months, it's been okay. We should take some heart in that the numbers are improving but they're not improving fast enough. They need to be a lot better. I mean if you look around the world, I think one of the things to note is, we're not growing that fast, and we're one of the fastest growing of all the advanced countries. This is a pretty tough spot that the entire advanced economic world is in, especially in Europe, and so that's just a big weight that we're trying to get off. We're making slow progress but it's got to be faster." (CNBC's "Squawk Box," 10/5/12)

• "The Economy Is Growing At The Same Sluggish Pace It Has Been Since The Spring." "Those figures are roughly in line with economists' forecasts, and although the revisions were positive, the economy is growing at the same sluggish pace it has been since the spring." (Annalyn Censky, "September Jobs Report: Unemployment Rate Tumbles," CNNMoney, 10/5/12)
• "The Country Generally Needs At Least 150,000 New Jobs Each Month Just To Keep Up With Population Growth." (Annalyn Censky, "September Jobs Report: Unemployment Rate Tumbles," CNNMoney, 10/5/12)
• "That's Hardly Fast Enough To Recover All The Jobs Lost Since 2007." "That's hardly fast enough to recover all the jobs lost since 2007. Of the 8.8 million jobs cut during the recession, about 4.3 million have been added back. The Labor Department signaled last week that it may revise the job gains higher, but even so, the job market still has a long way to go before it's fully healed." (Annalyn Censky, "September Jobs Report: Unemployment Rate Tumbles," CNNMoney, 10/5/12)

CNBC's Brian Sullivan: "It's Not Good News For The Economy." CNBC'S BRIAN SULLIVAN: "It's not good news for the economy because as we've talked about you really need 125,000 jobs created a month to keep up with population and immigration growth." (MSNBC's "Morning Joe," 10/5/12)

• Sullivan: "The Labor Force Participation Rate At 65.6% Rate Is Awful." MSNBC'S JOE SCARBOROUGH: "Again just to push back with you though, Brian, the only reason that number went down below 8 is because, not because we're adding jobs to bring the unemployment rate down but because people have stopped looking for work, right? CNBC'S BRIAN SULLIVAN: "I agree with that, the labor force participation rate at 65.6% rate is awful." (MSNBC's "Morning Joe," 10/5/12)

The Average Duration Of Unemployment Has More Than Doubled From 19.8 Weeks To 39.8 Weeks. (Bureau Of Labor Statistics, Accessed 10/5/12)

• There Are Currently 802,000 Unemployed Workers That Have Given Up Looking For Work. (Bureau Of Labor Statistics, Accessed 10/5/12)

The Real Unemployment Rate, Including Those That Are Working Part-Time Due To Economic Reasons, Is At 14.7 Percent. (Bureau Of Labor Statistics, Accessed 10/5/12)

There Are Currently 23.2 Million Americans That Are Either Unemployed, Underemployed Or Have Given Up Looking For Work. (Bureau Of Labor Statistics, Accessed 10/5/12)

• There Are Currently 12.1 Million Unemployed Workers. (Bureau Of Labor Statistics, Accessed 10/5/12)
• The Number Of Workers Working Part-Time For Economic Reasons Is 8.6 Million. (Bureau Of Labor Statistics, Accessed 10/5/12)
• There Number Of Workers Marginally Attached To The Labor Force Is 2.5 Million. (Bureau Of Labor Statistics, Accessed 10/5/12)

 Via: GOP.com

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