Why the June Jobs Report Is So Depressing

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How on Earth is Cramer of the cable show "Mad Money" still employed? As the Dow plummeted over the past year, this guy has still been picking stocks on a regular basis.
The guy is like the Energizer bunny.
Either that, or he was given a lonnnnnng contract.

Angie Koutrotsios of IL 2:22PM July 05, 2009

Today,in what was a stunning news conference, Colin Powell srongly cautioned Obama that he was taking on too many issues, with the strong implication that too many irons in the fire, was preventing the president from doing justice to any of them. These included: two wars, a Health Care Initiative,a "cap and trade" Energy Bill,an Education Bill,and beginning work on an Immigration Bill which is upcoming, and finally-the economy.
Powell's comments were made shortly after the new economic numbers were released,telling the world that the U.S.unemployment rate now stands at 9.5%.It is obvious that Obama has neglected the economy, when you carefully study the stimulus.
Over 75% of the 878 billion dollar stimulus does not go into effect this year, but will be discharged in 2010 to 2012, with some money being released as late as 2019. In addition, a great deal of this 75% of the total stimulus, will be used as down payments on Obama's New Deal Initiatives-Health Care and Energy. Only 25% is being allocated for this year,and only about 5% has actually been released this year. According to Ben Bernanke, the infrastructure segment will directly and immediately stimulate the economy better than the tax relief portion, yet only about 3.5% of the entire stimulus is devoted to creating infrastucture, which creates jobs. This indicates either a flawed product, or a flawed agenda.This is clearly not a product which will create jobs this year, or possibly any year.
Today, Joe Biden was asked why the stimulus was not performing as promised. He repied that the administration did not know just how bad the numbers really were, which begs the point, that Obama claimed at that time, which was that the country was on the edge of a cliff and would go over, if the stimulus was not passed. He kept up this rhetoric for quite some time, until his advisers cautioned Obama to tamp it down. The consesus is that Obama knew how bad the economy was, how could he not, with the best economic advisers in the world at his fingertips.
The only logical conclusion is that this stimulus was designed this way on purpose, and that purpose was to primarily push the Health and Energy Initiatives first, ahead of the economy, especially the solving of the massive unemployment problem.There is no other logical conclusion, other than this stimulus is an exercise in gross incompetance, or that the president has determined that his first priority is passing Health Care and Energy, in contrast to the will of the country, that he has sworn to serve. Their will and their first priority is to create jobs, and slash unemployment figures. But will this president sacrifice the country's best interests on the altar of his own self importance?
Therefore, it is painfully obvious that both the agendas and the the priorities of this president and the American people are not in alignment,so perhaps Obama needs to learn first hand, just how important a job really is, by losing his in 2012.

peggy-- www.abloggerwithoutablog.com of PA 1:40PM July 05, 2009

The splendour
of the laughing
clouds appears
in the calm
of a quietness,
with delicate
breaths and a
restless seaside.
Francesco Sinibaldi

Francesco Sinibaldi 5:01PM July 04, 2009

All the more reason why Obama should or must stop pushing "comprehensive immigration reform" which means amnesty for 12-20 million illegal aliens, including 8 million illegal foreign workers.
Unfortunately not only is Obama peddling mass amnesty, but he is also gutting immigration enforcement, stopping the E-Verify employment verification system, halting workplace raids -- thus refusing to free up these 8 million jobs for unemployed American citizens and legal workers.
Obama even refused to mandate E-Verify in his monumentally wasteful stimulus scheme, thereby ensuring that our taxpayer dollars are being used to give even more of our jobs to illegal aliens.

Dave of MO 2:53AM July 04, 2009

Obama’s ill-advised $700B+ "stimulus" program is a train-wreck: these jobs figures are far worse than the ones the White House warned us about if we DIDN’T pass the bill- so it was passed, and then unemployment soars anyway?
Instead of creating jobs, interest rates were bumped up, the dollar slid... and it didn’t help anybody get any work. Much of this is due to the fact that Obama’s radical agenda has mortified almost every machine of job-and-growth creation in the country.
The One couldn’t deliver the type of "temporary, targeted, and timely" bill that he promised repeatedly- regardless of his image in the MSM as omnipotent, Obama simply lacks the the political stature to control Pelosi and Reid… who hit the trough hard, while bickering like siblings.
And the lack of GOP co-conspirators exposed Obama politically… this legislation now looks to be a HUGE gamble. When all this pork-n-welfare fails to generate any real economic gains, the Democrats will face a bloodbath in 2010.
One could even make the argument that Obama knows his legacy will be in tatters by 2012… and is just ramming through as much of his far-left agenda as he can before the day comes when people cringe at the mere mention of his name… sure seems like it.
http://reaganiterepublicanresistance.blogspot.com/

Reaganite Republican of CA 12:00PM July 03, 2009

When this stimulus was being promoted, both president Obama and Larry Summers billed it as being targeted, timely, and temporary.Targeted because its purpose was to be primarily a job creation vechicle. Temporary, because Republicans did not want to be responsible for future costs done the road, where they would be committed to continue programs with their state budgets, long after federal dollars expired. And timely, because its effects would be felt immediately by the economy, because the stimulus would be funneled into the economy at once.After all Obama claimed, we were on the edge of a cliff, if we did not pass the stimulus at once.So quickly was it passed that it was completed near midnight one day, and then passed by the morning of the next day, Congress had passed it, with no one being able to read this massive epic, in that small time line.But the bottom line is,timely, targeted, and temporary was the contract that Obama made with the American people. We were taken, just as surely as greedy finance companies scammed the poor who were looking for homes and were sold Adjustable Rate Mortgages, where payments doubled in 5 years. This was the source of a world wide economic collapse.The stimulus we got was really a docuement that spent 255 in 2009, the year of the recession, this was stimulus which was hardly TIMELY. The next 50% was scheduled for 2010, which by the way, Obama claimed would have a growth rate of 3%, which was much higher than the minus growth rate of 2009, where he only gave 25% of that stimulus money.Obama gave in 2012 25% of the stimulus which year he predicted would have a growth rate of 4%. If you are asking why is all the money being funneled into years that Obama himself claimed would be good years and have high positive rates of growth, you are not alone. First, it is illogical, and secondly, it is in contrast to Obama's mission or stated objective,where he initially told the public that the stimulus would be timely, temporary, and targeted.To find the answer to this question simply follow the money, especiallly the 75%,which will not be in the economy in 2009. Most of that 75% is devoted to Obam's Heath Care and Energy Initiatives in the form of down payments. And by the way, these programs are not TEMPORARY and TIMELY,and many question whether they will they produce any jobs, and earn the label of being TARGETED. Of course they must be passed first which some question, since Spain, which is the model for Obama's Energy Program has produced only 4 green jobs out of every 9 carbon based jobs that they have lost, and only 10% are permanent jobs. So what is Obama's motivation for this bill which is desgned not to create jobs this year ? fortune and glory? Could this bill be designed to ensure re-election and legacy ? One thing is certain, we elected this prophet to lead us out of this economic desert, and he appears to be only interested in creating a monuement to himself, when we've never been so lost.

peggy--www,abloggerwithoutablog.com of PA 11:36AM July 03, 2009

When this stimulus was being promoted, both president Obama and Larry Summers billed it as being targeted, timely, and temporary.Targeted because its purpose was to be primarily a job creation vechicle. Temporary, because Republicans did not want to be responsible for future costs done the road, where they would be committed to continue programs with their state budgets, long after federal dollars expired. And timely, because its effects would be felt immediately by the economy, because the stimulus would be funneled into the economy at once.After all Obama claimed, we were on the edge of a cliff, if we did not pass the stimulus at once.So quickly was it passed that it was completed near midnight one day, and then passed by the morning of the next day, Congress had passed it, with no one being able to read this massive epic, in that small time line.But the bottom line is,timely, targeted, and temporary was the contract that Obama made with the American people. We were taken, just as surely as greedy finance companies scammed the poor who were looking for homes and were sold Adjustable Rate Mortgages, where payments doubled in 5 years. This was the source of a world wide economic collapse.The stimulus we got was really a docuement that spent 255 in 2009, the year of the recession, this was stimulus which was hardly TIMELY. The next 50% was scheduled for 2010, which by the way, Obama claimed would have a growth rate of 3%, which was much higher than the minus growth rate of 2009, where he only gave 25% of that stimulus money.Obama gave in 2012 25% of the stimulus which year he predicted would have a growth rate of 4%. If you are asking why is all the money being funneled into years that Obama himself claimed would be good years and have high positive rates of growth, you are not alone. First, it is illogical, and secondly, it is in contrast to Obama's mission or stated objective,where he initially told the public that the stimulus would be timely, temporary, and targeted.To find the answer to this question simply follow the money, especiallly the 75%,which will not be in the economy in 2009. Most of that 75% is devoted to Obam's Heath Care and Energy Initiatives in the form of down payments. And by the way, these programs are not TEMPORARY and TIMELY,and many question whether they will they produce any jobs, and earn the label of being TARGETED. Of course they must be passed first which some question, since Spain, which is the model for Obama's Energy Program has produced only 4 green jobs out of every 9 carbon based jobs that they have lost, and only 10% are permanent jobs. So what is Obama's motivation for this bill which is desgned not to create jobs this year ? fortune and glory? Could this bill be designed to ensure re-election and legacy ? One thing is certain, we elected this prophet to lead us out of this economic desert, and he appears to be only interested in creating a monuement to himself, when we've never been so lost.

peggy--www,abloggerwithoutablog.com of PA 11:35AM July 03, 2009

In 2012 we must vote for Governor Mitt Romney to become our President and Governor Sarah Palin to become our Vice President starting on January 20, 2013 , First Governor Mitt Romney is economically smarter than Barak Obama. Secondly Governors Mitt Romney and Sarah Palin are of the superior rightwing conservative philosophy that they are pro God and Christianity, pro life, pro marriage; pro guns-second amendment, pro low taxes, pro low government spending; pro small government, pro unintrusive government, pro traditional and Judeo Christian values; pro Bible reading and prayer in our public schools, pro Christians schools and private education , pro private and free enterprise; pro military spending, anti arms agreements with Russia, pro creation; pro nuclear, pro conservative supreme court judges, pro American sovereignty; pro capitalism, anti communist, anti socialist; conservative on immigration, and pro constitution John Warren

John Warren of NJ 6:18PM July 02, 2009

Last month a "births and deaths" number was uncovered that showed 200K+ jobs were created. Where is that number this month? Was it 250K.....300K? Who is cooking the books this time? And where is the recipe?

Fitz of WA 2:57PM July 02, 2009