{"id":11889,"date":"2011-11-04T09:08:35","date_gmt":"2011-11-04T13:08:35","guid":{"rendered":"http:\/\/cfif.org\/v\/freedom_line_blog\/?p=11889"},"modified":"2011-11-04T09:11:27","modified_gmt":"2011-11-04T13:11:27","slug":"the-obama-freeze-9-unemployment-fewer-jobs-created","status":"publish","type":"post","link":"https:\/\/cfif.org\/v\/freedom_line_blog\/11889\/the-obama-freeze-9-unemployment-fewer-jobs-created\/","title":{"rendered":"The Obama Freeze: 9% Unemployment, Fewer Jobs Created in October"},"content":{"rendered":"<p>The nation&#8217;s unemployment remained at or above <a href=\"http:\/\/bls.gov\/news.release\/empsit.nr0.htm\" target=\"_blank\">9%<\/a> again last month, and has now exceeded 8% for 33 consecutive months since  February 2009.\u00a0 That\u2019s the longest stretch since the federal government  began issuing monthly reports in 1948.<\/p>\n<p>Here&#8217;s why that 8% benchmark and February 2009 are important.\u00a0 When Obama  passed his nearly $1 trillion \u201cstimulus\u201d bill that same month, his  administration projected that unemployment would <a href=\"http:\/\/www.time.com\/time\/business\/article\/0,8599,1910208,00.html\" target=\"_blank\">never exceed 8%<\/a>, 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 four  months during that record 33-month span.\u00a0 Moreover, the economy only added a disappointing 80,000 jobs for September, less than the expected <a href=\"http:\/\/online.wsj.com\/article\/SB10001424052970204621904577016374127046152.html?mod=ITP_moneyandinvesting_0\" target=\"_blank\">100,000<\/a> and 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.<\/p>\n<p>It&#8217;s instructive to compare the real-world results of Obama\u2019s economic  agenda with Ronald Reagan\u2019s.\u00a0 In the same 33-month stretch following the  effective date of Reagan\u2019s 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 tells the nation that what we need is more of the same \u2013 more \u201cmini-stimulus\u201d government spending.\u00a0 Obama&#8217;s agenda has demonstrably failed,  and it\u2019s time to return to what demonstrably works.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The nation&#8217;s unemployment remained at or above 9% again last month, and has now exceeded 8% for 33 consecutive months since February 2009.\u00a0 That\u2019s the longest stretch since the federal government began issuing monthly reports in 1948. Here&#8217;s why that 8% benchmark and February 2009 are important.\u00a0 When Obama passed his nearly $1 trillion \u201cstimulus\u201d [&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":[19,27,24,1704,61,179,18],"class_list":["post-11889","post","type-post","status-publish","format-standard","hentry","category-posts","tag-economy","tag-jobs","tag-obama","tag-reagan","tag-spending","tag-stimulus","tag-unemployment"],"_links":{"self":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/11889","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=11889"}],"version-history":[{"count":3,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/11889\/revisions"}],"predecessor-version":[{"id":11891,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/11889\/revisions\/11891"}],"wp:attachment":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/media?parent=11889"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/categories?post=11889"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/tags?post=11889"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}