Bob Owens

The saddest truth in politics is that people get the leaders they deserve

Eight-point-two: Obama’s dismal June jobs report

Written By: Bob - Jul• 06•12
The Obama Economy.

The Obama Economy.


U.S. employers added only 80,000 jobs in June, a third straight month of weak hiring that shows the economy is struggling three years after the recession ended.

The Labor Department said Friday that the unemployment rate was unchanged at 8.2 percent.

The economy has added just 75,000 jobs a month in the April-June quarter. That’s one-third of 226,000 a month created in the first quarter. Job creation is also trailing last year’s pace through the first six months of 2012.

Stock futures fell modestly after the report came out. Dow Jones industrial average futures were down 24 points before the report at 8:30 a.m., and were down 60 points minutes later.

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  1. david7134 says:

    I manned up and watched a portion of the speech. My stomach rebelled and I did miss the TV when throwing things. But this is what I understand.

    Under O, we should not aspire to wealth or financial independence. He was happy with an austere life style as a child and so we should be happy as well. That meant staying at Howard Johnson Hotel, swimming in the pool, taking a vacation in a bus and limiting our time off to short periods away from work. He stated that we should not want to be millionaires or own our a business.

    According to O, the problem with the economy is that we are not taxing millionaires and the rich. If we taxed them, everything world be ok. Then, if we reduce taxes, we can not fund education and children will be mentally challenged.

    Somehow, he does not seem to understand that massive federal and state and local government debt kill an economy. He does not understand that massive rules, regulations, laws drive off business and prevent venture capitalism, especially when all of this changes on a daily basis. He does not get the fact that his medical policy is killing us and the economy and it hasn’t even started.

    Finally, according to O, we have a choice in Nov. We can chose his concept of a communistic US or go with Romney who can only offer a hope of a return to normalcy, a stable economy, and freedom.

  2. Doug says:

    Contrary to magical thinking we are never going to vote our way out of this mess!!

  3. david7134 says:

    Totally agree doug.

  4. mytralmann says:

    Apparently Obama had a pvt sector job once. He described it as being “behind enemy lines”. During the early stages of the fiscal crisis his slave Geithner commented to him that his “legacy” would be the fiscal salvation of the world. O replied he wanted something bigger for himself. Perhaps he ment Ocare, but his persona’s gravitational center, like the so long hidden Higgs boson, briefly appeared in this exchange.
    To me , he is an angry , small minded man who enjoys seeing his enemy in pain. I do not believe the pundits or commentators who commonly accuse him of “not understanding” how markets work. I think He very well does, but he just doesn’t want it to be that way. After all if he admitted error and changed course, he would become a prisoner behind enemy lines and so, irrelevant. Irrelevance was a state he and his “hard working” consort were in before. They found it distasteful, all that snow shoveling, schlepping in the cold dark dawn, borrowing money for a plane ride…Now he is far from irrelevant, or so he thinks and wants all to believe. Why change that? Why help the enemy?