The U.S. may lose 824,000 jobs when the government releases its annual revision to employment data on Feb. 5, showing the labor market was in worse shape during the recession than known at the time.If you follow that link, you'll see a bunch of charts of historical jobs data. I think the key quote is this:
Click here for a Bloomberg Multimedia interactive visual analysis of the economy's job losses.
"When the government releases Friday's employment report, nearly a million jobs could be erased. The change won't show up in the monthly report. Rather, the expected drop will show up in the government's revised job losses from April 2008 to March 2009, showing the labor market was in much worse shape than we knew at the time."
Once again, we see that elected representatives (primarily the White House) have fudged the jobs numbers to make things look better than they are. As is typical with Barack Obama, the primary difference lies in scope of the deception: while most previous years have seen February adjustments of less than about a third of a percentage point; this year's adjustment of almost a million lost jobs is estimated to be the largest adjustment in almost two decades. We won't know exactly what it is until the report comes out, but suffice it to say that this will not be good news for the Obama administration. Let the spin commence.
If we're really lucky, it'll completely blow the doors off the ludicrous notion that Barack Obama is doing a damned thing to help the economy.
His philosophy of government 'stimulus' and trying to spend the nation's way out of debt is completely wrong. Period. Done. End of story. What few jobs have been created since Obama become the front runner back in June of 2008 have been primarily government and union jobs, neither of which are particularly beneficial to the economy. This guy is an utter disaster, and he is -- along with plenty of help from the radical Leftist Dems leading Congress -- trashing the American economy from top to bottom.
If this country is to truly recover, he's got to be stopped. The only way to do that is to remove his ability to move his agenda forward, and that means throwing out as many Dems as possible, starting with the most radically liberal ones who have shown such utter contempt for things like fiscal sanity, national security, and the will of the American people. Then and only then will we have a chance to fix the mess that is American government. Hopefully it will be enough.
There's my two cents.
President Obama's permanent bailout fund
The President's permanent political slush fund
Spending America into oblivion