Posted on 06/22/2011 11:16:22 PM PDT by Libloather
What Happened to the White House's "Summer of Recovery"?
By Elizabeth MacDonald
Published June 17, 2011 | FOXBusiness
**SNIP**
June 17, 2010 -- The White House declares: "This summer is sure to be a Summer of Economic Recovery"
Summer 2010 -- Summer of Job Losses
"The point of my talking to you today is that, although more people are going to be put to work this summer" -- Vice President Joe Biden, June 17, 2010. The job losses came in as follows, according to the Bureau of Labor Statistics:
June: -192,000
July: -49,000
August: -59,000
September: -29,000
Job Creation
"The pace on the ball continues to increase, not decrease, as the Act rolls out in the final -- or this final summer." -- VP Biden, June 17, 2010
* Yes, the economy has added jobs since this statement, but at an average of 72,500 per month over the past 12 months. If this "pace on the ball" as Biden talked about continues.... it will take 93 months [nearly 8 years] to make up the jobs lost since the recession began in Dec 2007.
A Year Later .....
* The country is still plagued by high unemployment (9.1%) and even higher underemployment (15.8%, BLS // 18.6%, Gallup)
* May 2011: Unemployment increases for the second consecutive month
* May 2011: Overall consumer spending drops for the first time in 11 months
* May 2011: New-home construction rose to adjusted annual rate of 560,000 units per year---but still far below the 1.2 million new homes per year that Economists say is needed to sustain a healthy housing market
* Applications for new weekly unemployment benefits have average 434,792 since last summer
(Excerpt) Read more at foxbusiness.com ...
“What Happened to the White House’s ‘Summer of Recovery’?”
Nothing. It went exactly the way they wanted it to.
“Nothing.”
Give Barry some credit. It hasn’t been easy to “fundamentally transform” the USA into a third world country, but it won’t take much more.
Conservative Republicans need to expose Zer0's fragile, thin veil of a presidential image, held in place by a teleprompter and the piss-stream media.
Countdown until Obama leaves Office: 576 days as of June 23, 2011.
Wreckovery...and everything Biden touches seems to yield the same results.
It’s like they aren’t even trying. ;o)
The Summer of Recovery turned into the Summer of Discovery.
That’s when many almost-brain-dead Obama voters discovered that Obama and Biden are both intellectual Pygmies and full of bovine excrement.
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