DON’T BELIEVE THE ROSEY STATISTICS ABOUT THE ECONOMY

 

I have run a business dependent on growth in the industrial side of America’s economy for 31 years. Those of you that read my blog regularly know that I believe the economy has not and will not recover until the government’s policies allow our industrial base to grow the economy and employ the idle workforce. The 6.3% figure for unemployment put out by our government last week is so fraudulent it should be criminal. The number cannot be taken seriously in light of these facts;

1)      20% of all families in America do not have a single member that is employed according to the Bureau of Labor and Statistics.

2)      86 million full time workers in the private sector pay taxes to support the government while nearly 148 million people receive government benefits each month. These numbers were compiled by Terrence P. Jeffrey from U. S. government reports.

3)      There are 1.3 million fewer full time jobs in America than when the recession began in Dec. 2007 even though the population has continued to grow.

4)      Three times as many workers officially left the workforce last month, 988,000, as found jobs. The government only admits to 9.7 million unemployed Americans while claiming that 92.07 million working age Americans are “not in the labor force.” 101.77 million Working age Americans do not have jobs up by 27 million since the year 2000.

5)      During the Obama administrations time in office the number of Americans on food stamps has gone up from 32 million to 47 million. In the 1970’s one in 50 Americans was on food stamps, now that number is one in 6.5

6)      The Center for Immigration Studies reports that 43% of immigrants in the country for over 20 years are still on welfare.

7)      One government program being used by the administration to hide the unemployment crisis is the Social Security Disability program. In 1968 there were 51 full time workers for every person on disability, today there are only 13 full time workers per disabled benefit recipient.

If the money earned by the average man holding a full time job in America today is adjusted for inflation and compared to 40 years ago his earning power has decreased. Michael Snyder compiles lists of statistics that lend insight into the problems facing our economy. On April 29 of this year he listed 17 facts to make the case that America’s economy is in trouble. I include a few here and recommend him as source for the reader;

1)      62% of all Americans make less than $20 / hour today.

2)      Nine out of the top ten occupations in the U. S. today pay less than $35,000/year.

3)      The middle class in Canada now earn more than the middle class in the United States.

4)      56% of Americans have sub-prime credit in 2014

5)      40% of Americans could not come up with $2000 in an emergency.

6)      Less than one in four Americans has enough money to cover six months expenses if they lose their job.

7)      69% of the federal budget is spent on entitlements and welfare programs

8)      First quarter GDP in 2014 grew by only 0.1% and that was only in positive territory because we increased our spending on healthcare.

9)      Since November consumer spending on durable goods has declined 3.2%

10)   Retail store closers are at their highest rate since 2009

11)   The government says that there is close to no inflation but admit that they do not count the rising cost of food and energy like they used to.

The Obama administration has proposed 442 tax increases since taking office and added over six trillion dollars to the debt. We are supposed to feel good about a soaring stock market inflated by printing money and a fictitious unemployment rate. We need to make things in America again and bring our jobs back from overseas. The only way it is going to happen is by getting the “tax and regulate” fools out of Washington D. C. and install pro-growth economic policies.