A couple of years back I introduced readers to a more detailed look at our Democrat ballyhooed economic recovery. In addition to the explication therein I was trying to make the point that we really did not have a recovery underway that would get us back on the long established track of economic growth. The 2jan17 WSJ just published this graphic of US GDP since 1970 that clearly establishes the country's nominal growth trendline that I illustrated and discussed in my 21jun14 post ‘The Recovery Rigamarole’.
The graphic from my post is shown below which, when compared with the above, clearly demonstrates that we are in the R3 mode that represents the weakest kind of recovery, if it can be called that since this will not get us back on the long running 3.2%/yr trendline. The voters for Hillary clearly understood none of this, or were quite satisfied to live in a ‘has been’ country under an admittedly ‘has been’ administration.
[6jan17 update] Russ Steele’s 619am comment presenting CNSNews.com’s record of Obama’s accomplishments in the labor and workforce area scooped my own posting of it – the man simply starts his day at an ungodly hour. Anyway, here it is repeated more prominently with a previously (misplaced) graphic from the Federal Reserve on Obama’s economic accomplishments which are now covered up by the lamestream as they report on his depressing farewell tour around the country.
(CNSNews.com) - Barack Obama's presidency began with a record number of Americans not in the labor force, and it's ending the same way.
The final jobs report of the Obama presidency, released Friday, shows that the number of Americans not in the labor force has increased by 14,573,000 (18.09 percent) since January 2009, when Obama took office, continuing a long-term trend that began well before Obama was sworn in.
In December, according to the Labor Department’s Bureau of Labor Statistics, a record 95,102,000 Americans were not in the labor force, 47,000 more than in November; and the labor force participation rate was 62.7 percent, a tenth of a point higher than in November.
The participation rate dropped to a 38-year low of 62.4 percent on Obama's watch, in September 2015. It was only 3-tenths of a point higher than that last month.