The November election will ultimately be a referendum on President Obama. The media will surely try to turn it into a choice between the GOP nominee and the President, but the reality is that voters will first decide whether this President deserves another term. It really doesn' matter who the GOP nominee happens to be, because the Obama record will outweigh all other factors. This is why the media needs to do a better job of explaining the real unemployment picture to Americans. Most of you are probably thinking things are starting to turn around based on what you hear in the news. Take a closer look and what you'll find is a grim jobs picture that is far from the economic turnaround the White House would have you believe.
From Investor's Business Daily:
While the media and the administration portray the most recent jobs number — 8.3% unemployment — as good economic news, more sober minds understand what's really going on. The facts show a jobs slump that should not get an incumbent president re-elected.
Sure, the jobless rate is falling. But according to the Congressional Budget Office, we are going through the longest stretch of high unemployment since the Depression. The rate has been higher than 8% since February 2009, the month after Obama took office.
And, says the CBO, it is expected to stay above 8% through 2014.
Even worse for an administration straining to make the case that it deserves to be around for another four years is the real unemployment rate. It's not 8.3%, but closer to 15%, a figure that reflects those who "would like to work but have not searched for a job in the past four weeks as well as those who are working part time but would prefer full-time work," says the CBO.
Another White House problem comes from this in the CBO report: "The share of unemployed people looking for work for more than six months — referred to as the long-term unemployed — topped 40% in December 2009 for the first time since 1948, when such data began to be collected; it has remained above that level ever since."
Read the article "High Real Unemployment Data Reflect Poorly On Obama" here


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