The Obama administration and the Democrats who cover for them have been praising the economic “turn around” that our nation has seen over the last couple of years. As they do this, most Americans wonder what the hell they’re talking about.
The Obama team talks about unemployment, reductions in the trade deficit and the stock market… and then they repeat, like a cd player stuck on a loop. The problem is that the three factors do not give a complete look at the American economy. Our trade deficit may have shrunk, but our debt has exploded. Unemployment might be down, but labor force participation is higher than it’s been since the middle of the Carter administration. The stock market might be up, but consumer confidence is WAY DOWN.
This can help explain why the average American thinks the economy is not getting better. (57% say things are either the same or getting worse!)
Over the last two years the labor force participation rate has fallen to its lowest levels since 1978, which is right smack in the middle of Jimmy Carter’s “Great Malaise.” Today more working age Americans are unemployed and not looking to get employed than EVER BEFORE. Do you get the weight of that? Because our population today is so much larger than it was in 1978, the number of Americans not participating in the labor force is higher than ever before. So by any measurable standard this as bad as things have ever been, employment-wise.
In fact, while the Obama team has been trumpeting the unemployment numbers, the real reason they look as good as they do is because so many Americans have left the labor force completely! If our labor force participation rate were better… unemployment would look terrible! The Obama job recovery is a lie.
This is a big part of the reason we’ve had our slowest economic recovery since the Great Depression. And while Obama and his liberal minions continue to pretend that we’re bouncing back, our economic growth tells a very different story.
Check out what Michelle Connolly, an Economist from Duke University, has to say about the importance of economic growth and the reason that the Obama economic “recovery” is a total sham.
From about :25 seconds through the first few minutes…
(By the way – this entire video is well worth watching as some brilliant economic thinkers discuss some very important issues.)
Our average growth rate when recovering from recessions over the last 100 years has been 3% – under the Obama administration that rate has been around 1.5%! In fact, in the last quarter of 2014, the growth rate was an abysmal 2.2%!
It’s time to face the facts. Far from “recovery,” the Obama years have been an abject economic failure. If we want to right this sinking ship, we cannot continue to pursue liberal Democrat economic policies, which have only served to slow growth and stagnate our economy. We must turn to the free market, where new ideas and solutions are birthed. We must cut government bureaucracy, where good ideas go to die. We must slash the regulations that stifle economic innovation and advance. In short, we have to repent of our connection to liberal governance and the enslaving of the free market and begin pursuing a path of conservatism and the liberation of our economy.
An American economic revival is possible, but we must get the government out of the way first.