Skip to comments.Obama Shrunk Private Sector by 8.5M Jobs
Posted on 02/01/2013 11:10:18 AM PST by Evil Slayer
RUSH: Did you know that the unemployment rate went up last month? They just announced that today. It went up from 7.8% to 7.9%. But the Drive-Bys are not reporting that. The Drive-Bys are all reporting the number of jobs created. That number, 157,000. They're saying that the unemployment rate going up, that's a statistical anomaly. It's not really relevant. What's happening out there is that despite the best efforts of the Republicans in December to crash this economy, despite the best efforts of the Republicans to kill this country with all their spending cuts in December, the president persevered and created 157,000 jobs.
That would be in January after Republicans tried to kill the economy in December. The president came through 157,000 jobs. Unemployment rate did go up, but you're not supposed to pay any attention to that. You're also not supposed to pay any attention to this. While 157,000 jobs are being created, 169,000 people left the workforce. Yeah, that got your attention, didn't it? Gazing off watching CNN or something, and you heard me say that, and you said, "Whoa." That's right, 157,000 jobs created; 169,000 people left the workforce, meaning they stopped looking for work. In a recovery. They gave up looking for work. That means they are not counted in the unemployment numbers.
I know it's strange, and on the surface it doesn't make any sense. They're out of work. But since they're not looking for jobs, it is assumed that they don't need jobs, and they may not. They've got their cell phones. They've got their flat screen. They've got the food stamp card, who knows whatever else. They've stopped looking for work. So they're not counted. Labor force participation rate -- you want a shocking number? This is from the Bureau of Labor Statistics. This is the regime's own number. Since Barack Obama took office in January of 2009, 8.5 million Americans have left the labor force, including that 169,000 in January. One-hundred-sixty-nine thousand people left the labor force in January, just gave up looking for work. In total, in four years, 8.5 million Americans have left the labor force.
Another way of looking at this is, five years ago, six years ago, the economy had jobs for 8.5 million people who today do not have them. Eight-and-a-half million Americans have left the labor force. You could say that the number of jobs available has also decreased by a number that approximates that. It wouldn't be exact. I mean, it never would be, but it's close. This is precisely what I mean and what I have meant and what I will mean in the future when I say that this administration is shrinking the private sector. This administration is shrinking the American economy. This administration is making it smaller, and they're doing that by taking money out of it, via tax increases, regulations, debt payments, interest.
They're taking up all the money. The Feds are spending more and more and more of the universe of money that exists in the country. The private sector is getting smaller. And the greatest illustration of that is, in four years, 8.5 million Americans have left the labor force, 8.5 million fewer jobs available since Barack Obama became president. And at some point, people are going to, when presented when this information -- and a majority will not be presented the information as I've just shared with you. It's available, but you're not gonna see this on CNN. You can watch all day, Rachel, all you're gonna see is something about Syria and Bashar Assad's designer wife. That's all you're gonna see.
You might see the latest on Lady Gaga suing her former personal assistant. Boy, what a brutal story that is. I was reading about that. It's not easy being a celebrity. You might be turning into MSNBC and watching what a reprobate I am, but you will not hear, in the mainstream media, that 8.5 million Americans have left the labor force because their theme, their narrative is the economy's growing. We're in a recovery, jobs are being created. That's what they're telling you today. It's journalistic malpractice. This is the labor force participation rate.
Try this. If the labor force participation rate were today what it was when Obama was inaugurated, in other words, if the number of jobs available today were the same as it was when Obama took office, the unemployment rate would be close to 11%.
Now, the real unemployment rate that counts people who have given up looking for jobs, such as these 169,000 last month, the real unemployment rate which counts everybody is 14.4% unchanged. Minority unemployment, 18%, African-American. Folks, there's no recovery. There are no jobs being created. Yeah, they created 157,000, but 169,000 people left the workforce. That's a net negative. That is a net loss. You can't have a growing economy with this many people not working. You cannot have a recovery. You cannot have an expansion. You cannot have rising incomes, wages. You cannot have increased economic output. You can't have an economic recovery in an economy where 8.5 million people have lost their jobs because those jobs are gone. You just can't. The mathematics alone makes it impossible.
Everything’s going to plan. I’m tired of people saying he’s not trying hard enough. OF COURSE HE’S NOT! In his view, the ONLY job is a government job and there is no private sector. Not a single Congressman will call 0bama out on this either.
It’s a tricky statistic. There aren’t actually 8.5 million fewer people working than before. There are 8.5 million fewer people working than you would expect to be working given the percentage of people who were working before.
It’s like if you were a beachcomber, and every day you found $100. Then one day, you were out and found $100, but when you got home, you couldn’t find the $100 from yesterday.
You could say that you “lost $100”. You could say you had $100 less than you expected to have. But you can’t say you have “$100 less”, because you have the same amount of money you had yesterday.
Let me offer some advice on the missing 8.5 million.
First, a number of folks over the past two decades got safely into a secure 401k and investment situation, and basically quit working at age 45 to 55. Most weren’t “rich”, but they were safe, and just wanted to do some things that most people only dream about. Look at your RV crowd, and the folks who rebuild cars in their garages now.
Second, a fair group of the 8.5 million discovered that you could quit your job and open up a private underground business of sorts, and rely upon a cash income. An example: flea market operations where you buy your stuff for cash....resell for cash....and clear $30k-to-$90k a year off cash by itself. You never report anything to the IRS, and you never put anything in the bank that draws attention.
Third, sadly, there’s probably 500k Americans who have given up on jobs, and moved back in with Dad or Mom. They’ve been there for a year...maybe even ten years. They might do some part-time work for pocket money, but they’ve lost their enthusiasm. Dad can’t change nothing, and this will continue on...until Dad passes away, and there’s no income movement.
Fourth and final....drug sales. Let’s face it. There’s around one million Americans who are selling dope or manufacturing meth across America. They have a thriving business and don’t get counted as workers. They’ve escaped the private sector and become their own bosses...with a decent income....as long as the cops don’t figure out their enterprise.
The end goal is to have NO private sector, every factory, every store, every hospital etc. to be taken over by government so everyone who has a job has a GOVERNMENT JOB.
Of course government has no idea whatsoever how to run an efficient and productive enterprise so the end result is North Korea or Zimbabwe.