Obama’s Economy: May Unemployment Numbers Worse Than Projected, Long Term Unemployment Sets Record

What’s worse, the number of people unemployed for 15 weeks or more has hit a level not seen at any time since the government began keeping track of that metric shortly after the end of the Great Depression.

The unemployment rate rose to 9.4 percent in May, the government says. That is bad enough, but we’ve seen worse.
What is more alarming is the long-term unemployment rate. The government says that 4.5 percent of the work force has been out of work for 15 weeks or more. The worst previously seen — at least since 1948, when the government began counting people that way — was 4.2 percent, in December 1982.
Put another way, 21 percent of those who are unemployed have been out of work for at least 15 weeks. That is also a record, exceeding the 19.6 percent proportion seen during the 1958 recession.
Since employment peaked in 2007, the number of total jobs is down by 4.3 percent, and the number of private-sector jobs is down by 5.4 percent.

Back when the Obama administration was selling the “stimulus” spending spree, they released a chart projecting what unemployment would be with the “stimulus” spending and what it would be without the “stimulus” spending. Here’s that chart updated (the red dots) with unemployment figures for each month since the “stimulus” passed.

image

Unemployment isn’t just worse than Obama said it would be with the stimulus. It’s even worse than he said it would be without the stimulus. Meaning Obama isn’t rescuing anything. He’s making things worse.
And yes, it is Obama’s fault. Our labor and business markets are proactive, not reactive. With Obama promising big new taxes on businesses, big new taxes on investment, and big new regulations on pretty much everything in the country why in the world would we expect businesses and entrepreneurs to engage in the sort of expansion and investment necessary to create jobs and prosperity? Obama isn’t giving anyone any incentive to invest, expand and/or profit.
What Obama is doing is spending us into a black hole of debt that is deeper and blacker than the one we were in before while simultaneously increasing the size of government and its intrusion into the economy and our day to day lives. And the effect of those policy moves can clearly be seen in the chart above and the just-released employment figures.

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  • http://Array HG

    Carter didn’t fail. Either will Obama.

    Yeah, that gas rationing worked great.

    Denial.

  • http://sayanythingblog.com/entry/america_is_back/#c397018 DINO

    Wasn’t it Roger Daltry that said you can’t get fooled again?

  • Jackass Jimmy

    Oh, lookie. Dino trots out another gadget from the leftie bag of tricks: just keep repeating falsehoods and unsubstantiated “factoids” until the weak-minded sheeple believe it as truth. Added points if you say them real loud in your fit of sanctimony. It doesn’t matter that what you say has no factual basis… just say it over and over again and the sheeple will eventually fall for it.

    In the first 150 years of US history, conservatism built the greatest country in the history of the world. Then liberalism started creeping in. And so it has been for the last 80+ years. 30 years of conservative upswing certainly isn’t going to be enough to correct everything you lefties screwed up. To think that it would be is comparable to trying to save a plane spiraling out of control by pulling back on the control stick for just a few moments; the damage is too great, and truly corrective measures haven’t been applied long enough.

    BTW… another toy from the leftie bag of tricks: ignoring that with which you don’t like, regardless of what is truth.

  • robert108

    JJ: Every time the lefties lie, just smack them with the truth; rinse and repeat.

  • robert108

    Also, big business may actually be more corrupt and bureaucratic than big govt.

    While business has to give you something in return for your money, and can’t force you to buy anything from them, govt just reaches into your paycheck and confiscates your earnings before you receive them.
    Business has accountability, govt does not.

    You couldn’t be more wrong.

  • http://sayanythingblog.com/entry/america_is_back/#c397018 DINO

    Hey Potato, what happened to your blocking software?

    You fucking idiot stem.

  • Bat One

    HG,

    I believe that the Obama 10-year budget projected a 4% GDP growth rate and an inflation rate of less than 2%, both for the entire period. Now that’s comedy… in spades.

    I checked Treasury and BLS and couldn’t find a single 5-year period with sustained 4% GDP growth and 2% or less inflation.

  • http://sayanythingblog.com/readers/author/realitybasedbob/ realitybasedbob

    No problem.

    Raygun was a pet monkey for his second father in law and B. Goldwater. His pretty face and devotion to his new handlers anti American big business is always right labor must be crushed screed fooled way too many people.

    We are suffering his toll even now.

  • robert108

    Gore had vision that would advance this country in ways the cons can not comprehend.

    Little H: “Returning” to windmills and stone age technology isn’t “advancing” anything. You’re flat wrong, as usual.

  • http://www.indymedia.org/en/index.shtml Angry Vertebrate

    Dunno, but the Bush version is my favorite:
    http://www.youtube.com/watch?v=eKgPY1adc0A

  • http://proof-proofpositive.blogspot.com/ proof_positive

    We use all of our intellect,

    LOL! If that’s you using all your intellect, I’ll pity you (just as soon as I can stop laughing!)Heh.

    Image and video hosting by TinyPic

  • robert108

    …the decline has slowed, that the banks are recovering…

    More wishful thinking from ignorant little dino. Bungler Obama has done nothing to facilitate economic growth, and his unemployment mess just keeps getting bigger; meanwhile, his fascist takeover continues…

  • HG

    I knew libs would never admit failure.

  • http://sayanythingblog.com/entry/america_is_back/#c397018 DINO

    Did potato post something? All I saw was “Suitepotato comment blocked”.

    Love the script!

  • http://SayAnythingBlog.com The_Whistler_ofnd

    You mean the downturn that started when the Democrats including Obama took the Congress?

  • rog

    His popularity is going down also.

  • exceller

    its so great that we quickly passed that emergency stimulus bill four months ago without even reading the bill. that was money well spent wasn’t it. I remember democrats wagging their fingers red faced telling us of the calamities that would befall us if we didn’t “do this thing”. of course some of us warned that the bill was not about stimulus at all, and had more to do with political payoffs to unions, government workers, and pork for ALL!.

    to throw even more cold water on todays numbers, read this review which goes into a bit of detail, drilllng down a bit and comparing where we’re at now to prior recessions. It ain’t pretty.
    http://zerohedge.blogspot.com/2009/06/payroll-data-in-perspective.html

  • HG

    Bat One,

    Yeah, that sounds like wishful thinking. We’re in for a steady decline if the President continues on the path he’s started. Of course 2010 will be here soon and hopefully a lot of fresh faces in Washington will follow. If we see something like the ‘Contract with America’ those numbers could become reality given the depths we’ll have reached by then. If it does happen, watch how quick Obama will take credit, just like Clinton did.

  • robert108

    Since nothing Obama is doing does anything to facilitate economic growth in the private sector, where most Americans are employed, this is to be expected. In fact, what Obama is doing, in terms of economic policy, is guaranteed to destroy the ability of the private sector to generate both jobs and prosperity.
    The private sector pays for everything, including Obama’s wagyu steaks and his thermostat set to “Hawaii”, while real Americans are losing their jobs.

  • http://SayAnythingBlog.com The_Whistler_ofnd

    Not according the President’s projections in this graph.

    Since when did you begin to believe the liar-in-chief.

  • Hoss

    Shooting your wad, pissing on people, come on dino leave your fag-play stuff out of the comments. Gross.

    But (get your mind out of the gutter, dino), I agree, conservatism is much easier to sell: you get to entice people with all those government programs, letting them know that daddy government will take care of them no matter what. And, who cares about personal responsibility and accomplishing your goals without some bureaucrat “leveling” the playing-field. Freedom is for suckers, the warm embrace of having central planning decide everything for you is so much more comforting. You know, all the base instincts of thinking you deserve what others have worked for, being a parasite on society,…..never mind.

    Wasn’t it Roger Daltry that said you can’t get fooled again?

    Yup, and that’s what’s dooming Uhbama to becoming a one-termer. Then the circle of similarities between Jimmy “Misery Index” Carter and Dear Leader will be complete.

  • http://SayAnythingBlog.com The_Whistler_ofnd

    Obama loves unemployed people so much he wants to more and more of them all the time.

  • robert108

    This isn’t the 70s and Obama isn’t Carter.

    Then why do their economic messes look so much alike?

  • Mickey

    Wait for those 60,000 GM sales and technicians to get laid off. More Hope and Change.

  • Stewartized

    “Jimmy was right.” About what? Why is Dumbo infatuated with the word “stems”? He seems to get all excited when he says it, so could it have some sexual meaning to him? Na….

  • conundrum

    So 108 now you are against profit. Man if your are looking for profit while making contributions you must hate most wall street types.

  • HG

    But really, how willing are you to watch your children and grandchildren suffer by wishing for further declines out of bitterness that your guys failed so miserably?

    You mistake your own and other liberal’s desperation for economic disaster throughout the Bush years for our concern. Our economy is slipping, and we know why. Conservatives want prosperity, you complain about this all the time, but we know the policies and direction the President is moving us will mean further declines. We don’t want this, it’s just we’ve seen it before.

    I would welcome Obama’s efforts to encourage prosperity and expand liberty, but our President is clearly heading in the opposite direction. Now, when his policies fail, and they will, what will you liberals say then? In all likelihood you’ll never admit failure. Just like you still won’t with Carter.

  • http://sayanythingblog.com/entry/america_is_back/#c397018 DINO

    Carter didn’t fail. Either will Obama. Both are following administrations with horrible records and recessions.

    You stems like to think history will be repeating itself, that some conservative charlatan like reagan will be able to sell the same old supply-side or “contract with America” gimmicks and the new generation will bite. Not a chance. Been done. Over. Finished.

    Obama won the youth vote in a landslide and is an icon to them. The independents are now wise to the lies of the cons who promised gold but delivered SHIT after 30 YEARS in power.

    Who does that leave? The ever-shrinking pool of white male conservatives.

    Face it. You blew your wad. You had your little con revolution and it ended in disaster. Well, for most of us. Even many of you. But your authoritarian leanings, slavish devotion to the wealthy and powerful and inability to admit you were WRONG won’t allow you to humanize yourselves enough to do what’s right for society and your families.

    Expecting a replay of the past only sets you up for disappointment. The best you can hope for is some minor gains in 2010 and even then, the republicans that win will be a lot more liberal than you’ll be comfortable with or they won’t stand a chance of getting elected.

    No, conservatism is for the most part dead or at least dormant until the day when that charlatan can convince a future generation of suckers that they can have it all if they just give in to their dark, ugly impulses of greed and selfishness.

  • http://sayanythingblog.com/entry/america_is_back/#c397018 DINO

    Gee Bob, go easy on me. I was an early 20-something year old from a con family in the Midwest. I’m glad I was able to escape conservatism at all!

    And Lance? Most elections are close as far as the popular vote goes which Gore did win.

    Conservatism is an easier sell. It appeals to the base insincts, far more powerful motivators of greed, selfishness and fear. We liberals have always known that but also know that the point of the arrow, the part that leads, is always smaller. Our ideas endure like the New Deal and Great Society programs.Yours are reviled as supply-side, deregulation and free markets are becoming.

    Oh, and Greg? Yes, having the world in ruins was an advantage. But if cons ruled after WW2 the prosperity would have been narrowly focused on the top 5% as it was during the Depression until FDR forced them to share or die in a revolution.

  • http://sayanythingblog.com/entry/america_is_back/#c397018 DINO

    Things would have been much worse without the stimulus. That’s the reason the decline has slowed.

    You know, the decline that started a year before Obama took office, the one resulting from 8 years of bush? You remember that, dontcha stems?

  • Hannitized

    Bush really left a mess behind when he left. We should have elected Gore.

    Gore had vision that would advance this country in ways the cons can not comprehend.

  • http://sayanythingblog.com/entry/america_is_back/#c397018 DINO

    Hey, there’s studakota again! Reinforcing white conservative, racist crackerism!

  • http://sayanythingblog.com/entry/america_is_back/#c397018 DINO

    The first gas lines occurred in 1973, 4 YEARS before Carter took office.

    You probably would rather forget that Carter was preceded by Nixon, a republican forced to resign in disgrace (VP did too!) who had very deep back-to-back recessions in his terms. In 74 the stock market lost HALF its value. Inflation was through the roof.

    Carter got in but the people were not satisfied and finally gave in to the seductive song of reagan and his “you can have it all and pay no taxes!” routine. I should know as I fell for it too. Last time I voted republican. Now I wouldn’t piss on one if he/she was on fire.

    What followed was a disaster 30 years in the making.

  • http://sayanythingblog.com/entry/america_is_back/#c397018 DINO

    I can understand your frustration that the decline has slowed, that the banks are recovering, that we didn’t descend into a hellpit of despair, that the vast majority are much more optimistic with Obama and the the democrats in control. I can even sympathize with your election losses and the fact that you’ll watch as we create universal health care and realign the priorities of the country with the strong, competent leadership of a popular president.

    But really, how willing are you to watch your children and grandchildren suffer by wishing for further declines out of bitterness that your guys failed so miserably?

  • sayanything-5371

    Carter failed miserably, and Bungler Obama is failing even more miserably.

    You got that right.

  • HG

    Things would have been much worse without the stimulus.

    Not according the President’s projections in this graph. In fact, they would have been better.

  • http://sayanythingblog.com/readers/author/realitybasedbob/ realitybasedbob

    HAHAHAAA

    Raygun fooled you into voting for him!!!

    HAHAHA

    oh…sorry about that

    hee hee

  • robert108

    The only thing govt spending can “stimulate” is the draining of capital from the private sector, where all wealth is produced.

  • Bat One

    Things would have been much worse without the stimulus. That’s the reason the decline has slowed.

    Usually, it is those on the Left who relish the opportunity to try and get conservatives to prove the negative. But in this case…

    Okay, Dino, if you think things would have been so much worse without the stimulus… prove it!!! Document how much worse, and why.

    Here’s the problem. The New York Times reported just last month that less than 6% of the $787 billion in “stimulus” money that was appropriated has actually been spent. Less than 6%!

    So either it ain’t the stimulus that has slowed the recession at all, or Obama and the Democrats have allocated way, way too much money for their so-called “stimulus” programs.

    And maybe… just maybe… the recession wasn’t nearly so bad as those on the tax and spend Left have been telling us. After all, wasn’t it a Democrat Pooh-Bah (from Chicago, too!) who said something about not letting a good crisis go to waste?

    Come on, Dino! Let’s see you try to prove your contention about Obama’s “stimulus” spending.

  • Lance in Fla

    Just found this blog via a link.
    Hey, Dino. Clinton was the greatest thing since sliced bread, right? Low unemployment, low crime, everybody happy, etc.
    If anything that you say is true, shouldn’t Gore have won by a whopping landslide?
    At the very least, shouldn’t Bush have lost to Kerry?
    Folks, this dino idiot reminds me of a house where I once did a service call. Two hippies, the place reeked of stale maryjane and they even had a flowered microbus in the backyard with Nader/LaDuke painted on it.
    Consider the source. His icon is a member of the Ambiguously Gay Duo! That, to me, says it all.

  • http://sayanythingblog.com/entry/america_is_back/#c397018 DINO

    Congratulations! You’ve discovered the basic difference between cons and libs.

    We EVOLVE over time, you do not and must be dragged kicking and screaming towards human progress.

    It’s that whole stem thing. We use all of our intellect, you do not. You prefer the status quo even if it no longer applies or works. Change scares you.

    As I said earlier, I voted for reagan the first time. Then, as my intellect developed and I became educated I wised up.

  • http://www.indymedia.org/en/index.shtml Angry Vertebrate

    RBB, I have to admit that I fell for the whole free-market, supply-side arguments for a while. They had such pretty graphs and mathematical models!

    And no-one like big-govt bureaucracy either.

    But the practice didn’t match the theory (but we now understand why the theory is flawed).

    Also, big business may actually be more corrupt and bureaucratic than big govt.

    Back to the topic, it is a shame that Obama’s stimulus is too little, too late. Millions will become unemployed because of this.

  • http://mensnewsdaily.com/ Eye Doc

    Dino’s too friggin’ stupid to understand that only about 6% of the “stimulus” money has even been spent so far. It hasn’t stimulated anything, and the economy is still sinking though a bit slower than before. The stimulus package was never going to stimulate anything anyway except for the federal budget deficit which will rise by a minimum of 300% just this year alone. And yes Dino, the increase in the budget deficit is Obama’s fault, and he will take the blame for it.

  • jimmypop

    this obama economy is worse than anyone could have guessed. this is what happens when you let a gym instructor run the free world.

  • andophiroxia

    Herpetized still insists that Bush left a mess without putting any proof, causal reasoning, and most likely a BS resource or a resource that will eventually disprove him.

  • robert108

    this obama economy is worse than anyone could have guessed.

    Actually, most of the conservatives predicted it when he was elected.

  • http://www.indymedia.org/en/index.shtml Angry Vertebrate

    There is an advantage to being a liberal convert Dino, and as always, Bush said it most succinctly: :)

    “There’s an old saying in Tennessee — I know it’s in Texas, probably in Tennessee — that says, fool me once, shame on — shame on you. Fool me — you can’t get fooled again.”

  • http://sayanythingblog.com/readers/author/realitybasedbob/ realitybasedbob

    If there is one thing Raygun could do, it was communicate.

    Too bad he was so wrong about his communiqué.

    Jimmy was right.

  • robert108

    Carter didn’t fail. Either will Obama.

    More fairytale nonsense from little dino; Carter failed miserably, and Bungler Obama is failing even more miserably. Lucky for us, we can always institute fiscal conservatism and save the country.

  • http://proof-proofpositive.blogspot.com/ proof_positive

    Carter didn’t fail. Either (sic) will Obama. Both are following administrations with horrible records and recessions.

    Goebbelito: You’d better spend more time gathering at least a rudimentary knowledge of what you’re trying to propagandize! Look up the “Misery Index” if you want to see what a failure Carter was. That doesn’t even include his bumbling foreign policy!

  • robert108

    Wrong again, little H! Gore understands how to milk the AGW alarmism for big profits, while contributing nothing to the world.
    We are in a mess due to the Dem social engineering policies of the past thirty years, combined with Obama’s bungling of our economy, destroying record amounts of American wealth, bankrupting the car business and piling up record debt obligations.
    You continue in your ignorance of reality.

  • FlyOnTheWall

    Unemployment isn’t just worse than Obama said it would be with the stimulus. It’s even worse than he said it would be without the stimulus.

    “Never let a crisis go to waste.” And this one wasn’t scheduled to last long enough.

  • http://sayanythingblog.com/entry/america_is_back/#c397018 DINO

    The fastest growth and most egalitarian period of widespread, shared prosperity in our history was post WWII when the playing field was leveled by unions and steeply progressive tax policy.

    If you have to reach back 150 (!!!LOL!!!) years to try and find a successful period of conservatism, that’s pretty weak if you can even PROVE that conservatism was dominant. You can’t.

    The last period of conservatism in modern times was the 30 years (sound familiar?) preceding the Great Depression when the republicans ruled supreme and greed, corruption and Wall Street ran roughshod giving us a meltdown then too. The parallels are uncanny.

    Prior to that it’s difficult to categorize ideologies in today’s terms. But suffice to say that the ideas this country was founded on are definitely LIBERAL; freedom, equality and opportunity. If it were up to conservatives we would have remained a monarchy or gone feudal.

    Cons worship power and wealth, it’s in their genes. In fact, the revolutionary war was also a civil war with the ideological ancestors to today’s cons siding with the throne.

    No surprise there.

  • http://sayanythingblog.com/entry/america_is_back/#c397018 DINO

    I’m sure the unemployed will rush out and vote republican in the future. LOL

    If people blamed Obama for this you people wouldn’t be sitting on the outside of power looking in.

    This isn’t the 70s and Obama isn’t Carter. You won’t get away with that again. The conservative revolution happened already and failed.

    You’ll need to find a new trick.

  • http://proof-proofpositive.blogspot.com/ proof_positive

    Why is Dumbo infatuated with the word “stems”?

    According to Dino, he’s using all his intellect, so be gentle with him! He has nothing in reserve!

  • http://proof-proofpositive.blogspot.com/ proof_positive

    In fact, the revolutionary war was also a civil war with the ideological ancestors to today’s cons siding with the throne.

    So, you’re saying that ideological liberals wrote the Second Amendment? You guys must have really drifted from your roots, then, eh, Goebbelito?

    Too funny!

  • http://proof-proofpositive.blogspot.com/ proof_positive

    Gore had vision that would advance this country in ways the cons can not comprehend.

    I think “Hell in a handbasket” is something we could comprehend.

    Thank God the Goreacle lost!

  • studakota

    One of the reasons Blacks have difficulty becoming hired is the difficulty an employer has in firing them when their work is found inadequate. Imagine the difficulty when we, at the polls, send “The One” packing.

  • sayanything-4625

    The fastest growth and most egalitarian period of widespread, shared prosperity in our history was post WWII when the playing field was leveled by unions and steeply progressive tax policy.

    Are you kidding? It was the fastest growth ever because Europe and much of Asia was in ruins after the and we were helping them rebuild.

  • sayanything-4625

    Hell Dino, you are trying to get us to follow a path that has been proven to fail every time its been tried. Smart! Maybe you can support the Smoot Hawley tariff again and we call all have 10 years of depression. Good work!

  • http://insanereindeer.blogspot.com/ Kenny

    RBB, I have to admit that I fell for the whole free-market, supply-side arguments for a while. They had such pretty graphs and mathematical models!

    And results, and logic, and more results, and basic reasoning skills.

    And no-one like big-govt bureaucracy either.
    But the practice didn’t match the theory (but we now understand why the theory is flawed).

    By all means, explain the flaws. I will wait.

    Also, big business may actually be more corrupt and bureaucratic than big govt.

    It takes gall to point out that businesses buy lobbiests to influence government as CORRUPTION, when the government put them in the place to lobby to begin with. And heavily subsidizes them. Etc.

    Back to the topic, it is a shame that Obama’s stimulus is too little, too late. Millions will become unemployed because of this.

    The stimulus is directly responsible for the uptick in unemployment. He’s following Hoover/FDR’s playbook and it’s tanking.

  • Hannitized

    Little H: “Returning” to windmills and stone age technology isn’t “advancing” anything. You’re flat wrong, as usual.

    Gore understood the importance of technology and it’s advancement. So much so that his instrumental role in funding internet development for commercial use was directly responsible for the .com era and all that financial wealth we earned from it. Err…..some of us did anyway.

    The point is, Gore has that type of progressive vision, Bush just sat on his hand and did as little as possible……and now we are in a mess after 8 years of lack of vision or seeding.

  • HG

    This is a rather insightful look at liberal economic policy. They project a full 1.5% lower unemployment rate with the stimulus. I’m guessing they’re going to be off by a good 3% at some point, maybe more. They’ll blame Bush of course.

    Hey, you think Bush should get the credit for no terrorist attacks in America since Obama took office?

  • http://suitepotato.blogspot.com/ sayanything-4808

    Anyone else notice that Dino is such a loser he has no left wing or homosexual places to hang out and has to hang out on a conservative blog?

  • http://suitepotato.blogspot.com/ sayanything-4808

    Dino demonstrates his idiocy by contradicting the Congressional Budget Office and their crack team of professional accountants wheras Dino is on a team of professional cracks.

    Any other idiocy you want to spout Dino? Granted, that would by definition be anything you say, but we can always dream.

  • http://suitepotato.blogspot.com/ sayanything-4808

    Dino is self explanatory. A seriously deranged individual only alive because the society he hates with all his shriveled soul tolerates him, because it is powerful and can afford that tolerance which from a position of strength is mercy. It burns him every moment of every day.

    AddledInveterbrate is merely a moron who holds up a giant purple signature prominently mentioning Maynard Keynes as if he understood anything Keynes ever said when if fact if he had met Keynes and Keynes told him that “two plus two equals four” he’d have suspected he was being hit up for an orgy.

    From my observations to date the IQ of the two of them added together is still fifty points short of a house plant and one point short of the Teleprompter Messiah.

    Overall if I were basing my perception of Obama’s economic policy thus far based on their reaction, I’d have to suggest immediate impeachment of Obama to save the nation and the other two clowns be put back on their meds somewhere that they can’t do harm like pestering pigeons in the park trying to talk to the poor birds about the mind control rays from George Bush’s Texas ranch. Maybe wherever they stick the cranks who go on about the Trilateral Commission and the John Birch Society.

  • http://suitepotato.blogspot.com/ sayanything-4808

    Now if only we can get Dino to block everyone else, he’ll be all alone.

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