Nobody should cheer bad economic news, but neither should anyone deny reality or ignore the clear consequences of toxic public policy.<\/p>\n
Some 19 months after Barack Obama signed a nearly $1 trillion “stimulus” bill into law, the Labor Department this morning announced<\/a> that unemployment remains elevated at 9.6%, and the nation lost 95,000 jobs in September.\u00a0 This following Obama’s and Joe Biden’s promises of a “recovery summer.”<\/a> Obama and his apologists may trot out the teleprompters and once again claim that the private sector gain of 64,000 jobs (offset by losses in other sectors to arrive at the negative 95,000 total) shows that “we’re moving in the right direction.”<\/p>\n No, we’re not.\u00a0 Even that paltry 64,000 is down almost 30,000 from the August private sector gain of 93,000, all at a time when his “stimulus” would supposedly have the economy accelerating, not decelerating.\u00a0 Further, the Labor Department announcement stated that 15,000 more jobs were lost in July and August than previously estimated, along with a 366,000 downward revision in jobs during the 12 months through March.\u00a0 The bottom line:\u00a0 since Obama signed the “stimulus,” unemployment has steadily risen<\/a> from 8.2% to 9.6%.<\/p>\n