Obama Predicted 5.2% Unemployment By December 2012

2010-05-01-not-hiring-ontario-2607

We got an abysmal jobs report today, but in the context of promises made by the Obama administration, it’s all the more grim. Via Jim Pethokoukis, this chart created by the Obama administration for their sales pitch for the stimulus spending spree shows what they expected the unemployment rate to be both with and without the spending spree, updated with the actual unemployment rate.

Not only is the current unemployment rate roughly 50% higher than what Obama projected it would be, it’s far higher than what Obama projected it would be without the stimulus.

romerbernsteinDec12-600x340

More from Pethokoukis:

14.4%: The U-6 unemployment rate, which includes a) part-timers who want full-time work and b) the discouraged who want a job but haven’t searched for work in the prior month because they believe no jobs are available. Same as November.

10.7%: The U-3 unemployment rate if the labor force participation rate were back to its January 2009 level, when President Obama took office.

10.4%: The U-3 unemployment rate if the labor force participation rate were at the 2012 level predicted by the Congressional Budget Office before the Great Recession. This assumes that as the US ages, the LFP will continue to decline.

And then there’s this, which is the employment to population ratio (the number of people over 16 with non-military jobs in the context of the total number of Americans available for employment):

010412emplpop (1)

This economy isn’t improving, and the tax hikes Obama and Democrats just hammered through Congress are going to make things worse.

Rob Port is the editor of SayAnythingBlog.com. In 2011 he was a finalist for the Watch Dog of the Year from the Sam Adams Alliance and winner of the Americans For Prosperity Award for Online Excellence. In 2013 the Washington Post named SAB one of the nation's top state-based political blogs, and named Rob one of the state's best political reporters. He writes a weekly column for several North Dakota newspapers, and also serves as a policy fellow for the North Dakota Policy Council.

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  • Spartacus

    Obama supporters hardest hit. Youth unemployment – 11.5%, unemployment for young blacks – 22.1%.

    • $16179444

      Good….reap what you sow. I have no sympathy. none.

  • mikemc1970

    The question that remains: Is Obama and his regime just so utterly clueless that he didn’t know or was he just out and out lying? After the way he handled Benghazi, Fast & Furious, and the rest of his scandals, everyone is pretty sure which one.

  • Bat One

    In four more years this country isn’t going to see 5.2% unemployment rate. And the ONLY reason the rate has dropped at all since Obama’s been in office is because more and more people have given up looking for jobs and are thus no longer counted as part of the workforce.

  • Bat One

    According to both his first budget document, and the White Paper issued by Jared Bernstein and Chris Romer in support of the Obama “stimulus”, we should be experiencing GDP growth of 4% along with that 5.2% unemployment rate. Apparently cutting the deficit in half during his first term wasn’t the only bald-faced lie Obama told.

    • Spartacus

      Balled face lies are what Obama voters want to swallow. That’s why they voted for him a second time, MM MM GOOD and Michelle and the pups favorite, Yummy, Yummy Yummy, There’s Love In My Tummy!

  • mickey_moussaoui

    Obama will go into full dictator mode soon after he grabs guns

    • ellinas1

      BS!

  • http://genelalor.com Gene Lalor

    How Our “Middle Class” President Vacations

    Even in our democratic republic, U.S. presidents are certainly entitled to some time off, time to get away from the executive mansion, the place Harry Truman famously called the “crown jewel of the federal penal system,” the place where presidents are treated like royalty, feast on whatever they wish to feast on and are literally waited on hand-and-foot, the place they have to get away from to escape the trials and tribulations of leading the Free World.

    Jimmy Carter usually retreated to his peanut farm, Ronald Reagan and George W. Bush escaped to their respective ranches, and Bill Clinton probably to the nearest bordello. Barack Hussein Obama seeks his annual holiday respite on one of the poshest estates in the Western hemisphere, the lush, exclusive Paradise Point in Kailua Beach, Oahu, Hawaii, in the ostensible land of his birth.

    Not bad for a supposedly poor kid from the mean streets of Honolulu who managed to gain admission to the elite, multi-racial and very liberal college-prep Punahou School following a sojourn to Indonesia with his mother and Muslim step-father after his Marxist Muslim father abandoned his family.

    Poor “Barry” also managed to attend Occidental College, Columbia University, served as a Chicago “community organizer,” somehow got into Harvard Law School, landed a great job, and ultimately manipulated his way into the office of the presidency of the United States.

    Not bad at all! A semi-black Horatio Alger! An unlikely American Dream personified!

    Well, not exactly.

    A classmate at Punahou, Bernice Bowers, recently said “Barry” had changed a great deal since his Punahou days, a gross understatement if there ever was one.

    The former ”Barry,” his wife the formerly very middle class Michelle LaVaughn Robinson Obama as well as their offspring have developed a distinctly upper class sense of entitlement since Obama first won the presidency in 2008. Theirs is a mistaken sense that they are all entitled to milk taxpayers for all we are worth for their extravagant vacations and partying at the White House on our dimes and dollars. . . (Read more at http://www.genelalor.com/blog1/?p=29468.)

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