The Hill says unemployment rising in 90% of our states is a “potentially worrisome development” for Obama. Well, I guess. What an understatement. The same article says that swing states might be encouraged to vote for Obama because some are a bit below the national average. There is a bottom line to this ongoing unemployment.
Washington, D.C. the home of a mammoth number of Government workers who cost us much, and produce little, actually saw jobs increase, along with Idaho and Rhode Island.
The Labor Department reported Friday that 44 states in all saw their jobless rate go up, with four states seeing no change at all. Only Idaho and Rhode Island — along with Washington, D.C. — saw their rates drop last month.
Here’s the piece of Democrat logic – vote for Obama because your state’s unemployment rate might be slightly under 8.3%:
Even though the unemployment rate remains north of 8 percent, some analysts expected Obama to get a boost because many of the swing states that both campaigns are targeting have jobless rates below the national average.
Some swing states with their July 2012 unemployment rates are Ohio 7.2%, Florida 8.8%, Indiana 8.2%, North Carolina 9.6%, Nevada 12%, Colorado 8.3%, Iowa 5.3%, Wisconsin 7.3%, Virginia 5.9% – huge numbers of government jobs, New Hampshire 5.4%,
Under Bush 43’s term, January 2000 through 2008, the unemployment average was 4.0% in 2000 up to 5.8% when the Democrat’s Community Reinvestment ACT (homes for anyone wanting one regardless of qualifications – known as the subprime mortgage crisis) was fully throttled and it all slammed the fan.
Within a year, 5.8% soared to 9.3% in 2009 under Obama, 9.6% in 2010 and 2011 after taxpayers spent close to $1T to “stimulate” the economy and got nothing but bigger debt.
Nixon’s unemployment in his first year of 1969 was 3.5%, rising to 5.6% before he resigned mid-1974.
Under Ford, it rose to 8.5% in 1974, then decreased to 7.6% by the time he left office in 1974.
Carter’s term from January 1977 to January 1981 went from 7.1% to 7.6%.
Reagan picked up the 7.6% in 1981. In his second year of office, the average unemployment went from 7.6% to 9.7% in 1982 and then plummeted, ending at 5.5% at the end of 1988 before he left office in January 1989.
Bush 41 took Reagan’s 5.5% to a high of 7.2% for the year 1992, his last full year in office.
Clinton’s first full year in office, 1993, lowered average unemployment to 6.9% and ended his term with 4.1% in 2001.
The bottom line put simply: had a Democrat Congress not insisted mortgages be given to unqualified buyers, mortgage companies and banks would not have needed to bundle bad loans. Mortgage companies and banks would not have failed. Construction would have continued to boom. The homeowner’s value/equity would be what it should have been. Foreclosures would NOT be ruling your day and mine. Banks would be making loans to small businesses. There would have been no stimulus. Had Congressman Barney Frank not been sleeping with the Fannie Mae Exec Herb Moses, there might have been a real rainbow beyond the clouds, as opposed to a Jesse Jackson rainbow, or a Kevin Jennings Safe Schools rainbow.