In just about an hour and a half, Feb. 17, 2012, will mark the 3-year anniversary of President Obama signing the stimulus into law. And we say the word “stimulus” with a laughing eye. Who can forget the ARRA signs on the roadways which cost upwards many times of $10,000, touting Obama and his “job creation.”
Where has it gotten us today on the job front? Massive unemployment coupled with the massive refusal of the Obama administration to create jobs in the domestic energy sector. Take a look at this chart prepared by the Republican Study Conference, chaired by Rep. Jim Jordan(R-OH). I really, really like this man. 😀
The numbers come directly from the Bureau of Labor Statistics.
Democrats said their costly plan ($1.2 trillion, including interest) would “save or create” up to 4 million jobs and bring the unemployment rate down to about 6% today. The unemployment rate has not fallen below 8% at any point in the last 36 months. Furthermore, the official unemployment rate does not actually count unemployed people who have given up looking for work.
The above chart shows the “labor force participation rate.” This statistic represents the share of working-age Americans who are either employed or unemployed but looking for work. It is not a pretty picture. Only 63.7% of working-age Americans are currently in the workforce – the lowest in almost 29 years.
To put it another way, 36.3% of working-age Americans do not have a job and are not even looking.
The Obama administration has had 3 years to get it right and it’s been a dismal failure. Open up the energy sector, cut red tape and bureaucracy and create jobs by growing the economy: not the government.
For more information visit the Jobs Through Growth website.