{"id":11568,"date":"2011-10-07T09:37:47","date_gmt":"2011-10-07T13:37:47","guid":{"rendered":"http:\/\/cfif.org\/v\/freedom_line_blog\/?p=11568"},"modified":"2011-10-07T09:45:40","modified_gmt":"2011-10-07T13:45:40","slug":"the-obama-jobs-freeze-unemployment-remains-9-1","status":"publish","type":"post","link":"https:\/\/cfif.org\/v\/freedom_line_blog\/11568\/the-obama-jobs-freeze-unemployment-remains-9-1\/","title":{"rendered":"The Obama Jobs Freeze:  Unemployment Remains 9.1%"},"content":{"rendered":"<p>Unemployment remained <a href=\"http:\/\/bls.gov\/news.release\/empsit.nr0.htm\" target=\"_blank\">unchanged at 9.1%<\/a> last month, and has now exceeded 8% for 32 consecutive months since February 2009.\u00a0 That&#8217;s the longest stretch since the federal government began issuing monthly reports in 1948.<\/p>\n<p>And there&#8217;s a reason why that 8% benchmark is important.\u00a0 When Obama passed his nearly $1 trillion &#8220;stimulus&#8221; bill that same month, his administration projected that unemployment would never exceed 8%, and be all the way down to approximately 6% today.\u00a0 Instead, unemployment quickly climbed to 10.1%, and has remained above 9% for all but two months in that record 32-month span.\u00a0 Moreover, the economy only added a lackluster 100,000 jobs for September, far below the estimated <a href=\"http:\/\/www.bloomberg.com\/news\/2011-10-07\/payroll-gain-probably-failed-to-cut-u-s-unemployment-as-confidence-waned.html\" target=\"_blank\">200,000 necessary<\/a> each month to reduce the rate by just 1% over the course of a year.\u00a0 Compounding that depressing figure, keep in mind that approximately 45,000 of the jobs that were added came as a result of Verizon employees returning to work after striking in August.<\/p>\n<p>It is helpful to compare the real-world results of Obama&#8217;s economic agenda with Ronald Reagan&#8217;s.\u00a0 In the same 32-month stretch following the effective date of Reagan&#8217;s tax cuts, unemployment plummeted <a href=\"http:\/\/data.bls.gov\/timeseries\/LNS14000000\" target=\"_blank\">from 10.4% to 7.1%<\/a>.\u00a0 The comparison speaks for itself, yet now Obama demands that the country pass more of the same &#8211; his new &#8220;mini-stimulus.&#8221;\u00a0 Mr. Obama, it&#8217;s time to return to what demonstrably works, not continue what demonstrably doesn&#8217;t.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Unemployment remained unchanged at 9.1% last month, and has now exceeded 8% for 32 consecutive months since February 2009.\u00a0 That&#8217;s the longest stretch since the federal government began issuing monthly reports in 1948. And there&#8217;s a reason why that 8% benchmark is important.\u00a0 When Obama passed his nearly $1 trillion &#8220;stimulus&#8221; bill that same month, [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[914,143,27,24,179,18],"class_list":["post-11568","post","type-post","status-publish","format-standard","hentry","category-posts","tag-2012-presidential-election","tag-barack-obama","tag-jobs","tag-obama","tag-stimulus","tag-unemployment"],"_links":{"self":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/11568","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/comments?post=11568"}],"version-history":[{"count":3,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/11568\/revisions"}],"predecessor-version":[{"id":11570,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/11568\/revisions\/11570"}],"wp:attachment":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/media?parent=11568"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/categories?post=11568"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/tags?post=11568"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}