HOPE AND CHANGE NOT WORKING OUT SO WELL FOR US ECONOMY.

Over at National Review Online, Kathryn Jean Lopez interviews John R. Lott Jr, co-author (with, admitted, Grover Norquist) of the book Debacle: Obama’s War on Jobs and Growth and What We Can Do Now to Regain Our Future.

I, Outlaw Mike, have been predicting the catastrophy that Obama would be FOR YEARS....

"...LOPEZ: “Debacle” — isn’t that a wee bit of an exaggeration?

LOTT: This recovery has been the equivalent of a “dead-cat bounce.” Thirty-five months into the recovery and the unemployment rate is still above 8 percent. But what is worse, the drop in unemployment has largely been from people giving up looking for work and leaving the labor force. People can stop being counted as unemployed either because they get a job or because they give up looking for work. Unfortunately, while 1.9 million jobs have been added during the recovery, 7.7 million more Americans are now classified as “not in the labor force.”

But are Obama’s policies responsible? That is the main issue of our book. We provide a lot of evidence on this, but compare Canada and the United States. Canadian and U.S. unemployment rates increased in lockstep from August 2008 until six months later, in February 2009, when the stimulus was passed in the United States. During those six months, the U.S. unemployment rate rose by 2.1 percentage points, from 6.1 percent to 8.2 percent, the Canadian by 1.9 percentage points, from 5.1 percent to 7 percent (using the Bureau of Labor Statistics measure to make the Canadian measure of unemployment comparable with the U.S. rate).



The graph that we have showing how much worse our economy performed after that is striking. Right after the U.S. enacted the $825 billion stimulus, the unemployment rates quickly diverged. While the U.S. unemployment rate soared, the Canadian unemployment rate leveled off and then began to fall. By contrast, today, our rate has not returned to what it was when Obama became president.

This didn’t have to be. Government doesn’t just create new spending. The money has to come from someplace. When you move spending from where you or I or companies would have spent their money to where the government thinks that the money should go, you not only move around these resources, you move around the jobs associated with them. The problem is that people don’t instantly move from one job to another. That chaos created by the stimulus temporarily increases unemployment.

Not only has the stimulus made the economy worse, it has left us with a huge debt. The publicly held U.S. federal debt was $3.4 trillion by the end of 2000, shortly before George W. Bush became president, and by the end of his tenure eight years later, it had risen to $5.8 trillion. Publicly held debt excludes the money that the government owes to itself. Today, the publicly held debt has reached about $11 trillion. Obama has almost succeeded in doubling it during just three years. For a family of four, that means their share of the federal debt went from $87,000 to $140,000. If Obama remains president for a second term, assuming no new pet projects or other changes, Obama’s own projections from this year’s budget predict that each family’s share of the debt will reach a whopping $186,000 by October 2016."

Did you read that? Not sure? Wait, I'll use a bigger font:

The graph that we have showing how much worse our economy performed after that is striking. Right after the U.S. enacted the $825 billion stimulus, the unemployment rates quickly diverged. While the U.S. unemployment rate soared, the Canadian unemployment rate leveled off and then began to fall. By contrast, today, our rate has not returned to what it was when Obama became president....Not only has the stimulus made the economy worse, it has left us with a huge debt. The publicly held U.S. federal debt was $3.4 trillion by the end of 2000, shortly before George W. Bush became president, and by the end of his tenure eight years later, it had risen to $5.8 trillion. Publicly held debt excludes the money that the government owes to itself. Today, the publicly held debt has reached about $11 trillion. Obama has almost succeeded in doubling it during just three years. For a family of four, that means their share of the federal debt went from $87,000 to $140,000. If Obama remains president for a second term, assuming no new pet projects or other changes, Obama’s own projections from this year’s budget predict that each family’s share of the debt will reach a whopping $186,000 by October 2016.

I don't give a hoot what you think of my language. It's just that if you were one of those people who voted for this fuckface, this creature of smoke and mirrors, this hypercompetent salesman of fried and bbq'd O2...

you can congratulate yourself you are a BLUNT FUCKING IDIOT.

Hope and change they called it. Hope and change. For God's sake.

MFBB.