“The American people will never knowingly adopt Socialism. But under the name of ‘liberalism’ they will adopt every fragment of the Socialist program, until one day America will be a Socialist nation, without knowing how it happened.”

Socialist Party presidential candidate Norman Thomas

Friday, October 03, 2014

Obama's economic improvement fallacy

The economy supposedly added 284,000 jobs in September dropping the "unemployment" rate by another 0.1%, a number Obama will no doubt crow about in fundraising speeches this week. But 315,000 people threw up their hands and stopped looking for work in September also, further plunging the depths of non-work labor participation to 40 year lows.

Only Obama can spin that many people abandoning the search for work in favor of welfare and perpetual unemployment, as a win for the economy and his wise stewardship of it.

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