{"id":14328,"date":"2010-10-14T08:08:41","date_gmt":"2010-10-14T13:08:41","guid":{"rendered":"http:\/\/www.shotinthedark.info\/wp\/?p=14328"},"modified":"2010-10-14T08:08:41","modified_gmt":"2010-10-14T13:08:41","slug":"remember-last-year","status":"publish","type":"post","link":"http:\/\/www.shotinthedark.info\/wp\/?p=14328","title":{"rendered":"Remember Last Year?"},"content":{"rendered":"<p>When after a year of joking that Obama might be \u00a0re-run of the Carter years, suddenly it seemed that that might be the <em>best <\/em>case?<\/p>\n<p><a href=\"http:\/\/spectator.org\/archives\/2010\/10\/13\/so-much-worse-than-carter\">My joke may have been correct<\/a>:<\/p>\n<blockquote><p>The most important fact to take from the September unemployment report released last week is that almost three years after the recession began the economy was still losing jobs! Almost 100,000 (95,000) additional jobs were lost last month from the economy overall. That makes 400,000 jobs lost since May. Moreover, in a regular annual benchmark revision to calibrate unemployment rates for updated data, the BLS reported a further 366,000 jobs lost for March. The total number of Americans unemployed stands at almost 15 million (14.8).<\/p><\/blockquote>\n<p>Malaise? \u00a0The kids&#8217;ve got it!<\/p>\n<blockquote><p>Based on the long standing history and rhythms of the American economy, we should have had a booming recovery by now. Even more so, since the deeper the recession the stronger the recovery. Real economic growth in the first 4 quarters of Reagan&#8217;s recovery from the deep 1981-82 recession was a whopping 7.7%. Even the recovery under President Ford from the deep 1973-74 recession sported real economic growth of 6.2%.<\/p>\n<p>But under President Obama we are already in another downward spiral, with real growth falling from 5% in the fourth quarter of 2009, to 3.7% in the first quarter of this year, to 1.7% in the second quarter.<\/p>\n<p>Moreover, as the brilliant economist John Lott explained for FoxNews.com yesterday, the base unemployment rate has been stuck at least at 9.5% for 14 months now,\u00a0<strong><em>over three full percentage points higher<\/em><\/strong> than the average unemployment rate during the recession. Since Obama became President, the U.S. unemployment rate has increased faster than 25 of 30 other major industrialized countries, as reported by the\u00a0<em>Economist<\/em>.<\/p><\/blockquote>\n<p>Rumors that Obama is planning a stimulus for junior hockey in time for the next winter Olympics are at this time unconfirmed.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>When after a year of joking that Obama might be \u00a0re-run of the Carter years, suddenly it seemed that that might be the best case? My joke may have been correct: The most important fact to take from the September unemployment report released last week is that almost three years after the recession began the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[64],"tags":[],"class_list":["post-14328","post","type-post","status-publish","format-standard","hentry","category-president-obama"],"_links":{"self":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/14328","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14328"}],"version-history":[{"count":1,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/14328\/revisions"}],"predecessor-version":[{"id":14329,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/14328\/revisions\/14329"}],"wp:attachment":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14328"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14328"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14328"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}