CBO: America Will Never See Full Employment Under Obama

Cybercast News Service ^ | March 26, 2013 | Terence P. Jeffrey

[Olog-hai]

The Congressional Budget Office is now projecting that the U.S. economy will never achieve full employment during the eight years Barack Obama serves as president.

That would make Obama the only American president during the post-World War II era who never presided over a year in which the U.S. economy offered full employment to the American people.

The CBO defines “full employment” to be when the national unemployment rate is at or below what it calls the “natural unemployment rate.” …

[ConjunctionJunction]

All according to plan...

[Vaduz]

Misery index still goung up.

[lexington minuteman 1775]

Obama’s Three Point Plan for America
1. Destroy the American economy
2. Destroy Isreal
3. Set up mid east Caliphate claiming it will lead to democracy...which it wont
He’s on track to accomplish all three while he takes a vacation every couple of weeks on our dime
Freegards
LEX

[FlingWingFlyer]

Unemployment, dependency and disability are the new norm.

[MrB]

And the economy will never “recover” under 0bama.

In fact, it’s going down, and on purpose.

[Faith]

Another goal met by the president.

[SteveH]

bush’s fault. unexpected.

bush’s fault, and unexpected.

[Diogenesis]

Congress’ Three Point Plan for America
1. Destroy the American economy
2. Destroy Israel and support al Qaeda from Libya to Syria
3. Set up mid east Caliphate with Obama and Caliph
4. Let all Moslems out of ObamaCARE/DeathCARE
5. Leave US borders open and weaponize incoming terrorists.

[ldish]

they still got time to cook the books and besides who says he has only 8 years...it will really be somewhere between 16 and forever!

[E. Pluribus Unum]

And there are some people who still say it's not on purpose.

[Bon mots]

The unemployment rate is a huge lie.
When someone is unemployed for more than six months, they are no longer counted as unemployed, whether or not they actually found a job, after six months they are counted as employed. This is, after all, a simple two-state model (the two states being either employed or unemployed - there is no third state.)

With a little bit of arithmetic, you can see that there are at least 3 million fewer jobs today in America than when Obama won the election that awful October day in 2008. That despite the fact that there are an additional million souls in the labor force. Had he maintained the same labor force participation rate that Bush maintained there would be 4 million more jobs than there are today.

This despite the fact that he has spent record amounts of money on some hare-brained 'stimulus' that only stimulated the bubble on the stock market and nothing more.

[Bon mots]

Ultra Simplified Model

150,000,000 People in labor force
       * -2.5% drop in labor force participation rate
         -3.75 million fewer jobs!

For those who would like to show this to someone not good with statistics, you can really simplify it as above.

Assumptions
The US Labor Force is composed of people of working age, 16 and over. Usually up to retirement age.

The current US Labor Force is approximately 150million people.

The Labor Force Participation Rate shows the number of people in the labor force working.

Let's assume that the labor force stays at 150 million people just to keep this model simple.
Of course, the labor force grew by a million people since Obama won in 2008.

---

Tell that to the libtards when they say that the economy is on the mend... why just look at the stock market...

[Bon mots]

Almost forgot...
Source:
http://data.bls.gov/timeseries/LNS11300000

[bluecat6]

Note that in the CBO posting he says it will take 4 years to back CLOSE to full employment.

Define ‘close’.....

Sounds like some lacking confidence.

[The_Media_never_lie]

Pretty easy call when nearly everything Obama does is anti business.

[Pearls Before Swine]

Re post 9:

Your amended Three Point Plan is up to five points, LOL.

[hondact200]

I thought the CBO was to be nonpartisan. This should have been released a long long time ago. What does the CBO stand for other than Covering Barack’s Orifices. Enough said!

[Bon mots]

Here is the labor force participation rate since Ronald Reagan was president.

Look at what happened pretty much the day Obama was elected.

[buckalfa]

"The unemployment rate is a huge lie."

We all agree on that point and we all agree the Won has made the situation worse. Just for the sake of argument though, will America ever see full employment under any future President, regardless of party? Will high tech and productivity gains, plus free trade and the transfer of technology make eight (or sixteen--pick your number) percent unemployment seem like good times in the future? Short of a world war, is there any way out of the new normal?