“The numbers, they are awful.”Then toss in this graphic that shows that the recovery from the current recession is the slowest-worst in modern times:
9.2% — unemployment rate for June.
0.1% — increase since May.
16.2% — underemployment rate for June.
0.4% — increase since May.
8% — conventional wisdom for the maximum allowable unemployment rate to win reelection.
15 — remaining BLS reporting months before Election Day.
255,000 — net jobs that must be created each and every month to reach 8%.
18,000 — net jobs created last month.
44,000 — downward revision to April and May job creation.
3,825,000 — total net jobs needed before Election Day.
2,100,000 — jobs created in the last fifteen months.
11.2% — unemployment rate if the labor participation rate was as high as it was in January, 2009.
290,000 — best monthly net jobs gain during Obama administration.
231,000 — real best gain, minus temporary Census hiring.
14 — months since best monthly gain.
1% — decrease in DJIA in the opening minute of trading, day that jobs figures released.
$1,200,000,000,000 — cost of ARRA “stimulus,” with interest.
1,900,000 — net jobs lost since ARRA was signed.
2 — quantitative easing programs since 2008.
~$2,000,000,000,000 — total of first QE program during Great Recession.
$600,000,000,000 — total of second QE program, just ended.
40% — increase in federal debt since January, 2009.
30% — increase in annual federal spending since January, 2009.
20% — decrease in federal revenues since January, 2009.
12% — decline in value of US dollar since January, 2009.
37% — increase in number of Americans on food stamps since January, 2009.
62% — increase in Misery index since January, 2009.
800 — days since the Senate passed a budget.
1.9% — last quarterly GDP increase.
2.5% — consensus projection for last quarterly GPD increase.
2.7% — official White House projection.
3.0% or better — GDP growth needed to dent unemployment.
3.6% — official White House GDP growth projection for 2012.
2.7% — IMF GDP growth projection for 2012.
30% — federal debt held by public as percentage of GDP, 2005.
60% — federal debt held by public as percentage of GDP, 2010.
180% — federal debt held by public as percentage of GDP, CBO estimate, 2035.
0% — odds of current path being sustainable.
and then this:
...and then think about our "elite political leaders" in Washington argueing whether or not to raise the debt ceiling! They are quibbling over fake "spending cuts" (which aren't really cuts at all as has been demonstrated in the past few months) that at best cut fractions of a percentage point, while our economy struggles along, it's time to dump the leadership in the GOP, and start fresh. They don't have the courage to do what needs to be done.
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