Outstanding video of the full 33 minute speech given by Andrew Breitbart to the Tea Party Convention down below in four parts. Take the time to watch all 33 minutes, well worth it!
also
Nah….No Media Bias Here At All
Finally:
How’s That Obamanomics Going For You? Latest Economy News Is Out
Doesn’t look like it’s going so well:
WASHINGTON - Finding a job got much tougher last year, as the number of available openings fell by nearly one quarter.
At the same time, the unemployed population soared by more than one-third, leaving more laid-off workers competing for fewer jobs.
All told, there were 6.1 unemployed workers in December, on average, for every available position, according to Labor Department data released Tuesday.
That’s a sharp increase from 3.4 jobless workers per opening in December of 2008, and much worse than the 1.7 unemployed people per opening in December 2007, when the recession began.
There were 2.5 million jobs available at the end of December, according to the Labor Department’s Job Openings and Labor Turnover survey. That includes all jobs publicly listed by companies and government agencies.
Oh, that’s not all by a long shot. Employment snapshot:
Lets see…..the number of total jobs (employed) dropped by 589k from November to December and in fact they didn’t just move to unemployed, rather they dropped out of the labor force. All told that brings the count to 5.4 million jobs (employed) lost last year.
The labor force participation rate has dropped from 66.5% in December 2008 to 64.6% in December 2009. As people lost jobs, many left the labor force. If they had stayed in, being counted as unemployed, the unemployment rate would be 11.6%.
Since the high of 146,483,000 in November of 2007, the U.S. economy has lost 8,691.000 jobs and there is no reason to believe that we have hit bottom yet. That number dwarfs the slightly more than 2 million jobs lost in 1981-1983.
Now, how will this play out for the mid-terms? Not the way our resident lefties thought it would that’s for sure:
1. Remember this simple formula: Unemployment drives presidential approval numbers, and presidential approval numbers drive midterm election results.
2. President Barack Obama’s approval numbers are hovering just a tick below 50 percent. Since 1962, the average House midterm loss for the president’s party when his approval is sub-50 percent is 41 seats. The GOP needs 40 to take the House.
3. And make no mistake, the December unemployment numbers were bad both economically and politically. The 85,000 job loss was worse than expected and will be played that way the media. The continuation of double-digit unemployment also resonates with voters. And not a in a good way.
4. Then will come the second-take stories that will notice the shrinking labor force, which dropped by nearly 700,000 from November. Had it stayed stable from last month, the jobless rate would have been 10.4 percent. Had it stayed stable since August, the jobless rate would be 11 percent!
5. But wait, there’s more! The U-6 rate rate which combines the basic jobless rate, discouraged workers, part-timers-who-would-rather-be-full-tim ers climbed to 17.3 percent. And the average duration of unemployment rose to a record high 29.1 weeks.
6. Also, there is every indication that as the slowly growing economy eventually draws workers back into the labor force, the jobless rate will creep up to new highs. (Big companies remain cautious about hiring, and small biz remains under pressure due to tight capital markets.) The validity of the Obama recovery plan will seriously be cast in doubt.
7. The sickly labor market will also make it that much harder for the White House and Hill Dems to celebrate what is likely to be a brisk upcoming GDP report in the 4-5 percent range. That seems like an abstract number compared to the unemployment rate.
8. Combine a weak labor market – which may appear to be getting worse to voters – with the moribund housing market and rising gas prices, and you have a toxic triple threat that will be poisonous to Democratic incumbents and further drain Obama’s political capital.
Obama and company will react to this as they always do. “It’s not my fault….It’s all Bush’s fault”
He won’t ever “man-up”….Just not in his makeup.
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