November 4, 2011
On Thursday, House Minority Speaker Nancy Pelosi said that if the government had not spent nearly a trillion dollars in so-called stimulus money, the national unemployment rate would now be 15 percent.
“If President Obama and the House congressional Democrats had not acted, we would be at 15 percent unemployment,” she said.
In fact, the unemployment rate is over 16% and closer to 20%. Pelosi is making her claim based cooked numbers offered by the Bureau of Labor Statistics.
If the BLS added “underutilized” workers to its stats, the unemployment rate would 16.2 percent. Underultilization and “marginally attached workers” are euphemisms for workers who want to work full-time but cannot find work.
Unemployment has not been this high or consistent since the last Great Depression. “With the economy in the throes of a catastrophic downturn, unemployment, no matter how it’s measured, will rise dramatically and impose yet more devastating costs on society and on those without a job or unable to find full-time work,” John Miller wrote in 2009 as the “downturn” (depression) began to deepen.
Even members of the private bankster cartel, the Federal Reserve, admit the numbers are much higher than Pelosi and the government admit.
“If one considers the people who would like a job but have stopped looking — so-called discouraged workers — and those who are working fewer hours than they want, the unemployment rate would move from the official 9.4 percent to 16 percent,” said Atlanta Fed chief Dennis Lockhart in August.
He also threw water on Pelosi’s assertion that spending around a trillion dollars in “stimulus” money helped the economy and created jobs. “My forecast for a slow recovery implies a protracted period of high unemployment,” he said, adding that it would be difficult to stimulate jobs through additional public spending. “Further fiscal stimulus has been mentioned, but the full effects of the first stimulus package are not yet clear, and the concern over adding to the federal deficit and the resulting national debt is warranted.”
Others put the number well above 16 percent. “The sad thing is unemployment is really probably at 21 percent if you go by the real numbers,” Donald Trump said in October.
“Unemployment is a major, major, major problem and governments don’t really create jobs entrepreneurs do,” said “Rich Dad, Poor Dad” author Robert Kiyosaki.
Even the Washington Post admits Pelosi grabbed her numbers out of thin air and her claim about Obama the job creator are at best facetious.
Following Pelosi’s theatrics, her spokesman Drew Hammill said she misspoke.
Politicians always “misspeak,” which is just a polite way to say they lie in order to get re-elected or mollify citizens who are increasingly outraged over a federal government out of control.
This article was posted: Friday, November 4, 2011 at 9:55 am