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Barack Obama Tells Another Whopper - He Did Not Create 12.8 Million Jobs

Tyler Durden's picture




 

Submitted by David Stockman via Contra Corner blog,

America is better off when President Obama is out on the stump bloviating and boasting rather than in Washington actively doing harm. But the whoppers he just told the students at the University of Wisconsin are beyond the pale. Said our spinmeister-in-chief:

 And the unemployment rate is now down to 5.3 percent. (Applause.) Keep in mind, when I came into office it was hovering around 10 percent. All told, we’ve now seen 64 straight months of private sector job growth, which is a new record — (applause) — new record — 12.8 million new jobs all told.

That’s a pack of context-free factoids. There is still such a thing as the business cycle, and only economically illiterate hacks—-like those who work on the White House speech writing staff—-would measure anything from the deep V-shaped but momentary bottom that happened to occur during Obama’s second year in office. What counts is not that we’ve had a bounce after a terrible bust, but where we are now on a trend basis.

The answer is absolutely nowhere!

We are now 29 quarters from the pre-crisis peak and total non-farm labor hours utilized by the US economy are no higher than they were in Q4 2007. In other words, if you use a common unit of measure—–labor hours rather than job slots which treat coal-miners and part-time pizza delivery boys alike—–there have been no new units of employment at all. Our teleprompter reading President is actually tooting his own horn about recycled hours and “born again”  jobs and doesn’t even know it.

And, no, he can’t take credit for digging us out of the hole created by the Great Recession, either. The long, slow climb back to square one shown in the chart above was due to the natural resilience of our capitalist economy—notwithstanding the tax, regulatory and massive debt hurdles that Washington policies have thrown at it.

The truth of the matter is that America’s employment machine has been failing for this entire century. As shown below, the number of non-farm labor hours utilized during the most recent quarter was only 1% higher than in the spring of 2000—-way back when Bill Clinton still had his hands on things in the Oval Office.

In short, we have gone through two business cycles and have essentially added zero new employment inputs to the US economy.  And that marks a sharp and devastating reversal of previous trends. In fact, the BLS’ own data convey an out-and-out crisis that the President should have been lamenting, not a cherry-picked simulacrum of growth based on born-again, apples-and-oranges jobs slots.

Thus, during the comparable 29 quarters after the 1990 business cycle peak (Q2 1990 to Q3 1997) non-farm labor hours had increased by 12% and during the same period of time after the 1981 peak (Q3 1981 to Q4 1988) labor hours expanded by 17 percent.  That’s what employment growth used to look like, and absolutely nothing like that has happened on Obama’s watch.

When you get right down to it, however, even labor hours do not fully capture the actual jobs disaster happening in America. That’s because we keep shedding high productivity hours in the full-time  jobs sector in favor of low-skill, low-pay gigs in bars, restaurants, Wal-Marts and temp agencies.

So notwithstanding another month of 200,000 plus headline job gains, here’s where we actually are. The number of breadwinner jobs—–full-time positions in energy and mining, construction, manufacturing, the white collar professions, business management and services, information technology, transportation/distribution and finance, insurance and real estate—-is still 1.7 million below the level of December 2007; in fact, it is still lower than it was at the turn of the century.

Breadwinner Jobs- Click to enlarge

Breadwinner Jobs- Click to enlarge

There is no mystery as to how the White House and Wall Street celebrate year after year of “jobs growth” when the long-term trend of full-time, family-supporting employment levels is heading south. Its called “trickle-down economics”, and not of the good kind, either.

What is happening is that the Keynesian money printers at the Fed are fueling serial financial bubbles. This generates a temporary lift in the discretionary incomes of the top 10% of households, which own 85% of the financial assets, and the next 10-20% which feed off the their winnings. Accordingly, the leisure and hospitality sectors boom, creating a lot of job slots for bar tenders, waiters, bellhops, etc.

I call this the “bread and circuses economy”, but it has two problems. Most of these slots generate only about 26 hours per week and $14 per hour. That’s about $19,000 on an annual basis, and means these slots constitute 40% jobs compared to the breadwinner category at about $50,000 per year. Besides that, a soon as the financial bubble goes bust, these jobs quickly disappear.

Bread and Circuses Jobs - Click to enlarge

Bread and Circuses Jobs – Click to enlarge

This is reason enough for Obama to pipe down on the boasting, but he actually went in the opposite direction claiming a big recovery in manufacturing jobs.

And after a decade of decline, thanks to some of the steps we took…….we’ve added nearly 900,000 new manufacturing jobs. Manufacturing is actually growing faster than the rest of the economy. (Applause.)

But that one is not even a whopper; its a bald-faced lie. There has not been one “new” manufacturing job created during Obama’s term in office; and, in fact, the 12.3 million manufacturing jobs reported for June was still 10% below the level of December 2007, and nearly 30% lower than the 17.3 million manufacturing jobs reported in January 2000.

So the actual facts are not evidence of a trend reversal; they’re an exercise in political hogwash.

Indeed, if you take the entire high-productivity, high-pay goods production sector—-energy, mining, manufacturing and construction—the trend is even worse. As shown below, the 19.6 million goods producing jobs in June was 5 million lower than in January 2000. Is there any wonder that the median real household income has declined by 7% over the last 15 years?

Goods Producing Jobs - Click to enlarge

Goods Producing Jobs – Click to enlarge

Here’s the real truth beneath the bloviation issuing from stumping politicians and Wall Street stock touts alike. The June BLS report showed that the HES Complex (health, education and social services) generated another 48,000 jobs in June. This figure is nearly dead on the 42,000 monthly average for this sector since the turn of the century.

The minor problem with that trend is these jobs pay on average only $35,000 per year—–a level that does not remotely support a middle class standard of living, especially after payroll and income taxes are extracted from this gross pay figure.

The much bigger skunk in the woodpile, however, is that these jobs are almost entirely “fiscally dependent”. Yet the public sector in America is broke, and the total public debt just keeps on climbing higher.

To wit, the 32.2 million jobs in the HES Complex are funded by $1.5 trillion annually of Medicare, Medicaid and other health and social services entitlements. On top of that there is also about $1 trillion of public sector education funding, $200 billion per year of government guaranteed student loans and $250 billion annually in tax subsidies for employer provided and individual health insurance plans and Obamacare tax credits.

HES Complex Jobs - Click to enlarge

HES Complex Jobs – Click to enlarge

In effect, the public sector borrows and taxes to create low productivity jobs within the nation’s highly inefficient, wasteful and monopolistic health and education cartels—- but in the process squeezes everything else. In fact, there have been virtually no new jobs—even on a headcount basis—–outside of the HES Complex during the entirety of the 21st Century to date!

Nonfarm Payrolls Less HES Complex Jobs - Click to enlarge

Nonfarm Payrolls Less HES Complex Jobs – Click to enlarge

One of these days the public sector is going to exhaust its capacity to tax and borrow, and to thereby finance job growth even in the HES Complex. Needless to say, Washington and Wall Street will be as clueless then as they are now.

Meanwhile, the White House whoppers will keep on coming.

 

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Fri, 07/03/2015 - 15:52 | 6266815 CaptainAmerika
Fri, 07/03/2015 - 15:54 | 6266823 44MagnumPrepper
44MagnumPrepper's picture

The problem with obama is that he believes his own bullshit.  Mr. President, please go fuck yourself.

Fri, 07/03/2015 - 15:57 | 6266838 Ms. Erable
Ms. Erable's picture

If he did that, he'd be terminating some jobs (namely, those of Reggie and the Wookie).

Fri, 07/03/2015 - 16:35 | 6266944 MANvsMACHINE
MANvsMACHINE's picture

Who was he speaking to? School is out for summer.

Fri, 07/03/2015 - 17:12 | 6267047 PartysOver
PartysOver's picture

Who said "When it gets serious you have to lie"? Or something like that.   It is true.  What do they know that I don't?

Fri, 07/03/2015 - 17:13 | 6267049 knukles
knukles's picture

"You didn't build that"

Fri, 07/03/2015 - 17:18 | 6267063 FlyinHigh
FlyinHigh's picture
He's a FU*Kin lyer. If you believe anything that comes out of his mouth (except Regi's cock) then you’re a bigger fool then he is.

 

Fri, 07/03/2015 - 17:27 | 6267085 Took Red Pill
Took Red Pill's picture

He and Brian Williams should get together and go fishing.

Fri, 07/03/2015 - 18:26 | 6267246 Richard Chesler
Richard Chesler's picture

Charlatan-in-chief.

 

Fri, 07/03/2015 - 19:48 | 6267496 Pure Evil
Pure Evil's picture

I'm not all that upset that the Liar In Chief continues to tell whoppers, but I am perplexed that people still applaud this idiot every time he opens his mouth.

I guess they call them useful idiots.

From the press reports it seems Bernie "The Commie" Sanders is on a roll. I guess Hitlariaty will have to veer hard left to over compensate for her lack of personality.

Fri, 07/03/2015 - 20:31 | 6267626 lakecity55
lakecity55's picture

Hitlery should do a pay-per-view of her and Huma doing their lezzie thang.

Many people would pay for that. They could use a lot of makeup on Hitlery and a more svelte body double.

Fri, 07/03/2015 - 22:37 | 6267966 Gent
Gent's picture

Talk about Doom Porn

Sat, 07/04/2015 - 07:49 | 6268505 VinceFostersGhost
VinceFostersGhost's picture

 

 

 

 

Say a prayer....for the pretender.

https://www.youtube.com/watch?v=AQiXQUGbac0

 

Fri, 07/03/2015 - 20:29 | 6267620 lakecity55
lakecity55's picture

"You didn't calculate those stats."

Fri, 07/03/2015 - 17:15 | 6267057 PartysOver
PartysOver's picture

OR:

Is he just using Common Core Math to arrive at those figures?  Inquiring minds want to know.

Fri, 07/03/2015 - 17:16 | 6267059 Theosebes Goodfellow
Theosebes Goodfellow's picture

So the President of the United States is a lying sack of shit. This is news? Who didn't figure this out way back with "If you like your policy, you can keep your policy"? My money is on him being the first ex-president to get assassinated. (Please note that I do not advocate shooting anyone regardless of how much they may or may not have it coming. I'm a big adherent of the 7th Commandment. Well, I'm pretty big on all of them, though the 8th and the 10th have been issues in the past.) :))

Fri, 07/03/2015 - 17:45 | 6267129 Troy Ounce
Troy Ounce's picture

 

 

Executive summary:

"So the President of the United States is a lying sack of shit. This is news?

 

 

Sat, 07/04/2015 - 08:26 | 6268554 NoPension
NoPension's picture

Smartest move the Douchbag ever made was selecting Biden.

Fri, 07/03/2015 - 16:03 | 6266860 BigRedRider
BigRedRider's picture

Please?  You're much too kind.

Fri, 07/03/2015 - 17:27 | 6267088 44magnum
44magnum's picture

When has that fucker ever told the truth?

Fri, 07/03/2015 - 20:28 | 6267618 lakecity55
lakecity55's picture

"I will fundamentally change America (into a cesspool)."

Fri, 07/03/2015 - 21:09 | 6267720 Element
Element's picture

Not so much lied as habitually audaciously hoped beyond all truth, which unfortunately ends up looking a bit like a cesspool of putrid prevarications ... uttered by the supreme master of all fountains of bullshit ... ... he meant well ... and he did give us world peace, ... so at least there is that ... one small step for man ... one giant leap ... for 5th generation teleprompters ... his legacy will redeem him ... history will be kind ... I know, I've read it ... it needs some editing stil ... but gives a glowing account of solid achievement ... spangled with pithy quotes from memorable rousing speeches ... man, he sure can blab ... lucky to have such a gob ... "Yes we can!" ... yes sir! ... yer damned right ... uplifted ... made all of South Chicago weep ... and now we know why ...

Fri, 07/03/2015 - 22:27 | 6267940 Miffed Microbio...
Miffed Microbiologist's picture

Your words bestow on him too much honor. He is a man of very questionable intelligence who appears to have only the ability to read a prepared speech. Who's to say the words aren't spelled phonetically?

It is a shame Element for me to acknowledge our country is fooled by appearances and emotionally stirring speeches with little substance. It is a constant embarrassment and I never wake from this nightmare.

Miffed

Sat, 07/04/2015 - 04:05 | 6268337 Element
Element's picture

I've sort of come to the conclusion that there's little that's fundamentally wrong with the USA, except for the results and ongoing effects of people at all levels in that society who simply don't do their job, but are busy doing something completely other than the specific roles and tasks for which they were employed.

The more income and power they get rewarded with, the worse they are at doing the actual job, and doing only that, and doing it properly.

As a result US leadership is absolutely abysmal.

Yes, there is a huge mess and a huge mass of idiots as well (when has there not been?) but that's what contributes to or else caused most of that mess. The US simply stopped making the most of what it has, and stopped valuing the results of getting things right, every time they do something. They stopped being innately constructive people.

The result is of course the personal and collective dysfunction that exists, but if they were innately constructive, not for a reward or congratulations, none of that nonsense, but simply because they like the feeling that occurs from doing things, even small things, that could not possibly have been done any better than how they just did them, and that possibly no one could have done it any better, either, no matter how seemingly inconsequential the task or role is ... then guess what? The present extreme collective dysfunction, seen everywhere in the society, would just disappear, it would evaporate almost immediately.

Because fully functional society would be reappearing everywhere simultaneously, as a result.

No, I'm not trying to excuse it, nor be optimistic (I'm never optimistic, or pessimistic, both are terribly neurotic states) but it is ever-possible to get past this present situation. It's never going to happen while financiers and the governments which they buy to create the criminal enterprise they desire to create, are busy befuddling, misleading (literally, hence big-ears, clinton and bush), enslaving and demoralizing the entire society, 24/7.

And now they trot out a clinton and bush again, just because they own them, and already know they're definitely sick, perverse, deranged, vein, self-seeking and scummy enough to do their bidding?

I feel your pain from here Miffed.  ;-)

 

Sat, 07/04/2015 - 18:05 | 6269961 Miffed Microbio...
Miffed Microbiologist's picture

Thanks Element,

As usual your perspective is well thought out and provocative. It is always appreciated by me. I will say, I do enjoy your balanced take on much that is discussed here, providing counterbalance when sorely needed. I don't believe a few others can see this but I do. Perhaps they are more seduced by those neurotic states? ;-) I can't claim pure innocence here having dabbled in those realms myself. But rationality wins the day and I eventually emerge from the abyss. Sometimes it takes longer than I had hoped.

I believe your core concept is sound. The fundamental attributes that make USA great are still present. I see innovation, entrepreneurial spirit, inquisitiveness, questioning of authority, rules and concepts in many here still. The drive to dictate personally ones life and destination. Socialism, though truly present now if we are to be honest, is not sitting well with many though the fact of this is not being told by our infiltrated and corrupt media.

The disfunction of which you speak is in the positions of authority, the corporations and government, not in the productive class which is straining under their yoke of oppression. If this were to be cast off, I think you'd see USA return to her fundamental roots. The process would be painful but maybe that is what is needed when one goes astray. Perhaps the memory of this time would keep us on a better track. Of course this is fantasy. After a few generations all will be forgotton and the psychopaths will once again see their opportunity to rape those who grow lax and complacent. Warrior diligence eventually wanes. This is their advantage.

Being not seduced by money nor power makes me ill equipped to fully understand those who obsess over such things. This in itself explains the reason our country has fallen to those whose aim is to parasitically drain the life out of it. The danger of those asleep is they won't say no. The danger of those awake is they innately allow others to " pursue their own happiness" in the spirit of freedom, not fully cognizant what their true goal is.

And then all what is left is an American and an Australian discussing this on a blog. Both simply conscious and aware observers of an ongoing movie they both have little influence. Perhaps this is true for all who have walked this planet. It is only our inflated egos that tell us we are special in this unique point in history.

Miffed;-)

Sun, 07/05/2015 - 00:39 | 6270872 Element
Element's picture

I've a natural tendency to see other valid explanations, than the one being offered to adopt, a sort of in-built Occam's Razor. I guess Occam had that tendency too?

Well, it makes offering counterbalance to widespread nonsense addiction, relatively straight forward. If they can't parse the possible explanations and options, maybe it's possible to augment the general lack of cognition?

Ah, yeah, whatever.  :D

I'm not sure if that tendency can be taught to people to use, or if it's simply a genetic trait. But the results of showing people how to do it are poor within zh, but then again the 2014-2015 flock tend to be way slower compared to zh from 2009-2010. So Gresham's Law applied to comment sections meant the sharp ones left to look for sites less cognitively ... stunted ... runt-ish.

The result?  ...  zheep!   :D

You can only encourage them to try a bit harder.

 

Sun, 07/05/2015 - 01:32 | 6270967 Miffed Microbio...
Miffed Microbiologist's picture

Ha! So true.

It reminds me of my International Relations class at Gonzaga university. Our professor was a Jesuit who consistently argued our viewpoints no matter what our position. It was maddening for us because we were hoping to discover his personal bias, construct our essays to curry the most favor and thus garner good grades. We consistently failed. I came to understand this man was judging us on our ability to think, form cogent, well illustrated argument and defend our points when weakness was revealed. When I finally grasped this, my grade rose.

But I must say, this was a relatively easy task for me coming from a family who loved debate and believed pushing personal, sacrosanct viewpoints off a cliff to be a sport. I will say it was tough for me to bring friends home who were considered fresh new meat. Few returned for a second visit.

ZH has become less edgy and provocative. True debate is rare now and most resort to simple poo flinging like petulant children. Four years ago when I discovered the site, I lurked for a year seeing I was clearly outclassed in most subjects and had nothing of relevance to say. Now I can fit in, which if you think about it, is most troubling.

The zheep should be shorn or turned into chops. In the long run, this is best for all. I am thankful you are not reticent engaging in this task. I should rise to the occasion as well more often myself, you being such an inspiration. I'm not sure my subtle approach is appreciated or understood in present company but there are still a few gems to be found in the sea of mediocrity and they keep me coming back.

Miffed;-)

Fri, 07/03/2015 - 21:27 | 6267782 AGuy
AGuy's picture

Sorry, Guys Barry is 100% correct on this statistic. You guys are too much into conspiracies. Barry did indeed create well over 12 million new jobs. He converted 6.4 Million full time jobs into 12.8 Million Part time jobs! :)

PS. No doubt some one will ding me, by not reading my entire message.

 

 

Sat, 07/04/2015 - 07:54 | 6268511 VinceFostersGhost
VinceFostersGhost's picture

 

 

93.5 MILLION Americans out of work......the only stat anyone needs to know.

Fri, 07/03/2015 - 15:53 | 6266818 kaiserhoff
kaiserhoff's picture

Barry never created a single job.

He has been a parasite and a fraud his whole life.

Fri, 07/03/2015 - 16:00 | 6266850 all-priced-in
all-priced-in's picture

The only job Obama ever created on his own was a blow job.

 

 

 

 

 

Fri, 07/03/2015 - 18:03 | 6267185 Berspankme
Berspankme's picture

actually he created a job for the undertaker after his blowjobs to Larry Sinclair

Fri, 07/03/2015 - 19:21 | 6267386 EscapingProgress
EscapingProgress's picture

I read the 5.3% stat in the local funny papers this morning and giggled.

"But actually, he thought as he readjusted the Ministry of Plenty's figures, it was not even forgery. It was merely the substitution of one piece of nonsense for another. Most of the material that you were dealing with had no connection with anything in the real world, not even the kind of connection that is contained in a direct lie. Statistics were just as much a fantasy in their original version as in their rectified version. A great deal of time you were expected to make them up out of your head." - George Orwell, 1984

Fri, 07/03/2015 - 20:27 | 6267612 lakecity55
lakecity55's picture

If you exclude BJs and rim jobs you are correct.

Fri, 07/03/2015 - 15:55 | 6266826 SmilinJoeFizzion
SmilinJoeFizzion's picture

Well he is in Wisconsin- they are kinda retarded

Fri, 07/03/2015 - 16:46 | 6266980 booboo
booboo's picture

KINDA???
Full bore Mack daddy heapin helpin of special small yellow school bus riding retard

Fri, 07/03/2015 - 15:55 | 6266830 Ms. Erable
Ms. Erable's picture

Since when does 'households receiving food stamps' equal 'jobs'?

Fri, 07/03/2015 - 20:25 | 6267609 lakecity55
lakecity55's picture

They have to walk to the mailbox or drive to the post office, so that counts as work. It is also work going to the supermarket and having to make tough executive decisions on the lobster or the steak. Then there is the work getting the BMW or Humongo SUV to the dealership for oil changes and bullet hole repairs.

Fri, 07/03/2015 - 15:57 | 6266833 FreeShitter
FreeShitter's picture

The only jobs obama creates are his blowjobs to the wookie..

Fri, 07/03/2015 - 15:57 | 6266835 power_shift
power_shift's picture

When a person works with Kenyan numbers and statistics all seems possible..

Fri, 07/03/2015 - 15:59 | 6266846 JamaicaJim
JamaicaJim's picture

This cunt couldn't create a job if he poofed it out of his Reggie-fied ass.

Only fucking morons listen to his shit. Wiggers and stupid asses, and the free shit army.

FUCK YOU OBAMA!

 

Fri, 07/03/2015 - 17:23 | 6267074 FlyinHigh
FlyinHigh's picture

I'd give ya a whole bunch more +'s if I could. +++++++++++++++++++++++++++++

Fri, 07/03/2015 - 16:01 | 6266854 armageddon addahere
armageddon addahere's picture

But getting rid of jobs was the whole idea. What do you thing Downsizing and Outsourcing was all about? Who the hell wants jobs anymore? The last 50 years has been all about getting rid of jobs, factories, work of any real worth.

Fri, 07/03/2015 - 16:04 | 6266864 I Write Code
I Write Code's picture

President of the Dead Cat Bounce.

Fri, 07/03/2015 - 20:23 | 6267597 lakecity55
lakecity55's picture

Bath House Barry

What a Fuckin' Tool!

Fri, 07/03/2015 - 16:09 | 6266882 Monetas
Monetas's picture

I defend Burger King .... and all American free enterprise .... as you all ought to know by now .... so, I prefer other words for Obama's lies .... Oral Excrement .... he shits from his mouth .... he needs a colostomy bag on his face .... if it leaks .... you won't even notice !

Fri, 07/03/2015 - 16:25 | 6266920 suteibu
suteibu's picture

I don't understand why anyone would give up a day to hear the dipshit speak.  To be sure, that alone ensures the crowds are mindless and beyond help.

Fri, 07/03/2015 - 16:37 | 6266956 BarkingCat
BarkingCat's picture

College students - these morons will be the ones who will suffer from his policies the most.
Some of the women can at least work as strippers and maybe few will find employment as hookers.
Enjoy your like dumb fucks.

Fri, 07/03/2015 - 16:28 | 6266925 XitSam
XitSam's picture

Ignorance is strenth.  And look at how strong Obama is!

Fri, 07/03/2015 - 16:33 | 6266938 22winmag
22winmag's picture

If the military was worth a damn they would have pulled an Egypt and had the traitor-in-chief in handcuffs by now.

Fri, 07/03/2015 - 16:36 | 6266951 farmboy
farmboy's picture

Sad. I guess he is a very uncertain person that he believes his own bullshit to state his case.

Fri, 07/03/2015 - 17:27 | 6267086 FlyinHigh
FlyinHigh's picture

Yea, even he has to say it many many times for himself to believe all his own bullshit.

Fri, 07/03/2015 - 16:38 | 6266962 wendigo
wendigo's picture

I know we've added a few jobs, but that was because we bought other companies and consolidated them under one roof. Net job creation was zero at best. 

Fri, 07/03/2015 - 16:40 | 6266966 SweetDoug
SweetDoug's picture

'

'

'

In a few years we're going to look back and realize a lot of the jobs pissing out of the eoconomy were due to automation and computers, too, starting in the 90's.

Look up the robot that can lay 1000 bricks an hour. My buddy, a bricklayer, nearly crapped his pants when I showed him the viddy a couple of weeks ago, that could do 1 every 12 seconds, about 300 per hour.

Good thing they won't get any faster…

 

•?•
V-V

•?•
V-V

Fri, 07/03/2015 - 18:37 | 6267276 XitSam
XitSam's picture

Rise of the Robots by Martin Ford talks about this in more detail.  It isn't pretty.

Fri, 07/03/2015 - 20:21 | 6267594 lakecity55
lakecity55's picture

We should buy robots and have them go to work for us instead of us going to work. A simple tweak to its PositronicTM brain will make it oblivious that he is working and we get money, all the robot gets is a recharge and some WD-40.

Fri, 07/03/2015 - 16:44 | 6266974 Bill of Rights
Bill of Rights's picture

Another " I saved the world " blow heart .

Overemphasize the word blow...

Fri, 07/03/2015 - 16:46 | 6266978 Monetas
Monetas's picture

If 12.8 million jobs are created .... and 13.8 million are destroyed .... the net is .... minus one million .... maybe that's an example of how he twists the truth a bit .... he doesn't mention the jobs lost ?

Fri, 07/03/2015 - 22:02 | 6267869 NeedleDickTheBu...
NeedleDickTheBugFucker's picture

It was my understanding that there would be no math.

Fri, 07/03/2015 - 16:48 | 6266982 Duc888
Duc888's picture

Well, give him credit, he DID replace private sector yobs with bullshit FERDGOV yobs.

Fri, 07/03/2015 - 16:49 | 6266985 rejected
rejected's picture

Government cannot 'create' productive jobs. It can however debilitate the economy to reduce jobs or it could stay the fu*k out and allow the producers to create the wealth and jobs.

The only jobs the government CAN create are the parasitic jobs. Take the EPA. Creates regulations and employs leaches to ensure their compliance. The effect of the regulation and the energy spent enforcing it reduces jobs in the producing private sector. Overall GDP is reduced.

In some cases the regulations are good but in most they are unnecessary and damaging. An example of the latter in my area is the requirement of installing double check valves or Reduced Pressure Backflow Preventer valves depending on whether you have a lawn sprinkler system or a well. Costs range from $500 to $1000 and suffered by the customer. The object is to prevent contamination of public water by siphoning. Sounds real nice except they cannot prove one instance of this happening from private property.... ever.

So they are creating a regulation to prevent something that has never happened. And this from the same people that inject poison (fluoride) in the water. And they are sending their Environmental Compliance 'Officers" out to locate the sprinkler systems and wells of those that are not volunteering the information.

A small example of the thousands of unnecessary regulations written every year to further control your property.

Fri, 07/03/2015 - 16:51 | 6266987 RealityCheque
RealityCheque's picture

Simple answer: fuck off Barry.

Fri, 07/03/2015 - 16:53 | 6266992 lakecity55
lakecity55's picture

He's confusing the fact he gave 12.8 million BJ's with creating millions of jobs for citizens. A simple faux pas.

Fri, 07/03/2015 - 16:55 | 6267007 RealityCheque
RealityCheque's picture

Hey, a job.....is a job.

Fri, 07/03/2015 - 19:55 | 6267524 Pure Evil
Pure Evil's picture

I think you meant to say...a blow job....is a blow job, but not all blow jobs are created equally.

Or, as Patrick Henry used to say..."Give me a blow job or give me death!"

 

Sat, 07/04/2015 - 01:02 | 6268203 silverer
silverer's picture

A hand job is better than no job.

Fri, 07/03/2015 - 16:54 | 6267002 bankonzhongguo
bankonzhongguo's picture

Forget Obomba.

It's the group that hijacked the democratic party with its race baiting and blackmailing the republifucks over the JFK assassination.

In what universe does the majority party in Congress hand over a huge corporate win to the most divisive opposing party president since Nixon?

These same forces will let Bernie Sanders and Trump make the headlines for a few months to weather 2015.

All I can say is what will the country look like after 8 years of Hillary Clinton or Bush numeros tres?

Venezuela del Norte?

 

 

Fri, 07/03/2015 - 16:55 | 6267008 WTFUD
WTFUD's picture

The man's an eNIG-ma.

Fri, 07/03/2015 - 17:51 | 6267152 booboo
booboo's picture

Wrapped in a brown paper suit

Fri, 07/03/2015 - 17:34 | 6267103 brucekeller
brucekeller's picture

How will unemployment ever get better for unskilled labor if machines will eventually handle almost all of it?  Just wait until they approve automated vehicles for trucking etc. It's a strange dilemma.

Fri, 07/03/2015 - 21:24 | 6267771 Thirtyseven
Thirtyseven's picture

Where's the 6 hour work day I was promised?  How about 4?

Sat, 07/04/2015 - 04:40 | 6268381 One of these is...
One of these is not like the others..'s picture

duplicate post.

 

Sat, 07/04/2015 - 04:40 | 6268382 One of these is...
One of these is not like the others..'s picture

Surely that should be the whole idea?

Reduce the requirement for everyone to work, and make more leisure time available?

The problem is that most of us are unable to self direct our activities in a constructive and wholesome (or even simply a non jerk-like) manner if truly freed from external direction.

 

Fri, 07/03/2015 - 17:38 | 6267113 Whalley World
Whalley World's picture

To those who have offended your president with prejudice, shame on you.  I for one don't pre judge, so I am in a position to say that with that Bozo in office you Yanks are well and truly Fucked.

Fri, 07/03/2015 - 17:40 | 6267116 RXJ1532
RXJ1532's picture

After 6 years of having this pathological sociopath nitwit Obama in office, it is clear what he meant by "fundamentally transforming America".  He meant turning the US into an impoverished 3rd world, socialist, islamic, country of goat farmers. 493 friggin days to go! 

Fri, 07/03/2015 - 18:00 | 6267177 Berspankme
Berspankme's picture

As a former UW student I am unsure of who is more ignorant, Obuttfuck or the student body. Both are worthy contenders for the title

Fri, 07/03/2015 - 18:16 | 6267212 pupdog1
pupdog1's picture

A few months ago I started thinking the guy is mental, and I now see more evidence of this on a weekly basis.

Fri, 07/03/2015 - 18:32 | 6267264 f16hoser
f16hoser's picture

Obama is a Fucking Retard; elected by Retards (assumes no voter fraud); and idolized by retards. Obama will be remembered as the "Novelty" president. Nothing more.

Fri, 07/03/2015 - 22:12 | 6267899 Anunnaki
Anunnaki's picture

His legacy will be the Inequality President

A year afterTPP is passed the subsequent tent cities will be called Obamavilles

Sat, 07/04/2015 - 02:12 | 6268282 Colonel Klink
Colonel Klink's picture

Obama will be remembered as the single greatest destroyer of America, next to Israel of course.

Fri, 07/03/2015 - 18:35 | 6267270 f16hoser
f16hoser's picture

Another thing; I predict, there will be a "False-Flag" assassination of Obama (body double) and Barry will go into the CIA Protection Program. We'll read about him in 50 years like we did Hitler living out his life in Argentina...

Fri, 07/03/2015 - 19:25 | 6267405 booboo
booboo's picture

I hope they fuck up that operation in a special kind of way if ha know what I mean

Fri, 07/03/2015 - 18:37 | 6267279 Anunnaki
Anunnaki's picture

Did Peace Prize fess up that the rate goes dowm when people are so discouraged they quit bothering to look for work?

Maybe the Swedes will give him another medal in Economics

Fri, 07/03/2015 - 18:52 | 6267316 BolshevikPartyP...
BolshevikPartyPlanningCommitee's picture

The recession graphs match up with the contracting of the money supply by the JEWISH OWNED federal reserve as per the M3 chart @ shadowstats http://www.shadowstats.com/alternate_data/money-supply-charts

When the jews stopped reporting on M3 it was for their next event as they stick it to the goyim

Fri, 07/03/2015 - 19:08 | 6267362 will ling
will ling's picture

jungle bunny utopia.

Fri, 07/03/2015 - 19:32 | 6267382 ThrowAwayYourTV
ThrowAwayYourTV's picture

This is what the U.S presidency means to me.

Fed Banker: OK mr Borat Obama, this is what me and my colleagues would like you to do. We would like you to Look Presidential, we would like you to act Presidential. And! We will have our speech writers write one hell of a speech when the time comes. All you have to do is read it word for word.

Don't you worry your little head mr Borat, you will get elected, we will see to that. Just look like a president and talk like a president and leave the rest to us. Okay? .....Okay!

Just do as we say and you'll retire in 8 years a rich and happy man.

Got it? Good!

"Here drink this. This will keep you going thru the show, come on its time to go."

Fri, 07/03/2015 - 19:21 | 6267388 J J Pettigrew
J J Pettigrew's picture

GIve me a Fed that will peg interest rates at zero ...and pump $4 Trillion into the economy...and I could look good too.

Where is the journalist that might ask, "Exactly what policy did you implement?"  Mr. President?

Fri, 07/03/2015 - 19:40 | 6267462 Jethro
Jethro's picture

Hahahaha.  Maybe in China or India, but not here in the US

Fri, 07/03/2015 - 20:08 | 6267565 One Eyed Jack
One Eyed Jack's picture

Maybe they misunderstood. I think that he has paid Reggie 12.8 million for a blow jobs over the last 6.5 years

Fri, 07/03/2015 - 20:32 | 6267631 Caleb Abell
Caleb Abell's picture

"... the number of non-farm labor hours utilized during the most recent quarter was only 1% higher than in the spring of 2000—-way back when Bill Clinton still had his hands on things in the Oval Office."

 

And we all know what things Bill had his hands on.

Fri, 07/03/2015 - 21:33 | 6267792 coast
coast's picture

and what happens in greece will never happen in the U.S.    Say what you want, but I like obama, all I have to do is think the opposite of what he says...its never been easier.

Sat, 07/04/2015 - 09:00 | 6268610 silverer
silverer's picture

Teleprompter upside down! LMAO!

Fri, 07/03/2015 - 22:29 | 6267944 Zero Point
Zero Point's picture

Yeah, he gives jobs. Blow jobs.

Sat, 07/04/2015 - 00:51 | 6268183 JoJoJo
JoJoJo's picture

"O's economy is generating 26 hour/week jobs at $15 an hour." Welfare is paying $16 an hour equivalent while working zero hours per week. Not counting inder the table $.

Sat, 07/04/2015 - 00:58 | 6268196 JoJoJo
JoJoJo's picture

O just cant be believed on anything. No wonder after he and kerry claim a great deal with Iran, the Iranian parliament shouts "Death to America" and promises to build more nukes even faster and  disallowing inspections.

Sat, 07/04/2015 - 01:01 | 6268200 silverer
silverer's picture

The only jobs the president ever clearly supported are the ones tied in with his golf outings.  Waiters and waitresses, mostly.

Sat, 07/04/2015 - 02:10 | 6268276 Colonel Klink
Colonel Klink's picture

The Kenyan Kommander in Khief is a pathological liar of the highest order.

Sat, 07/04/2015 - 06:45 | 6268464 overmedicatedun...
overmedicatedundersexed's picture

not much interest in this thread, guess it looks like a left vs right obuma is evil thread.

but most of us understand the usa has add millions to the welfare rolls, ecb card carriers, food stamp programs over obuma's time in office.

to a socialist perhaps that is good, as it is a safty net by the state.

to myself it makes all the job numbers null and void, as in a truly high employment economy the gov assistance numbers would have dropped and contracted in a very major way.

you cannot have both high employment and high use of the .gov safty net.

Sat, 07/04/2015 - 07:31 | 6268492 Last of the Mid...
Last of the Middle Class's picture

His legacy won't be jobs or anything like that. It will be the fanaticism he introduced as a community organizer elected to an office of which he has no comprehension of what his duties should be. Complete and total disregard of any view other than his, whether fact or not, is his hallmark. It's time to start comparing this maniacal liar to others in history who have done the same and comparing the outcomes.

Sat, 07/04/2015 - 08:56 | 6268603 silverer
silverer's picture

Now here's a savvy president.  He knows how "well educated" these students are to be able to tell them all this BS.  The applause level is the "stupid" meter, and the president is very good at reading it.

Sat, 07/04/2015 - 09:27 | 6268635 Fukushima Fricassee
Fukushima Fricassee's picture

He confused Jobs with the number of cocks that have been in his queer ass and in his homo mouth.

Sat, 07/04/2015 - 09:52 | 6268681 CHC
CHC's picture

That's what psychotic lying people with an ingrained agenda do - they tell "whoppers".

Sat, 07/04/2015 - 14:30 | 6269426 derailedcapitalism
derailedcapitalism's picture

All the new regulations are killing jobs. I have a social commerce business, framestr, and I'm forced to spend more time with paper work and tax filings than actually growing the business. This is killing productivity and slowing growth (aka hiring). 

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