Nov 24 2009
Celebrating Thanksgiving And Christmas Underemployed
The fact Democrats are in deep political trouble this season should not be a surprise at all. And anyone denying they are in deep, deep trouble is deluding themselves. I knew back in March that the stimulus bill rushed through Congress would be an abysmal failure. I knew that the country would be seething by the time we went through tax day, July 4th, summer and Halloween without any course correction on the jobs front.
But now comes the time for real political hell, as the nation tries to celebrate Thanksgiving and Christmas with many of us unemployed, underemployed and gripping the unemployment benefit life lines to avoid economic ruin. Here are the October unemployment (U3) and underemployment (U6) numbers which will lead us into this holiday season.
And this graph shows the sad result of failed liberal economic policies, over 2 million people now clinging to the last unemployment life line (EUC) the government offers. After this stage it is personal economic oblivion.
So is anyone surprised President Obama’s support is collapsing as his wild promises of new jobs become the laughing stock of history?
Here is a prediction I made on October 21st:
If Obama’s “Strongly Approve†drops to 25% and his “Strongly Disapprove†goes to 45%, and Congress stays in the pathetic 20% approval rating zone, there will be enough new faces in DC to undo anything done by this out of control Congress.
I stand by that prediction, and I would bet we leave this holiday season in that very condition.
We are going to go through this painful holiday season having learned a harsh lesson about liberal fantasies. And it will be the pivot point of no return for the Democrat Party if they stay the course. Which they will of course.
Here another economic negative and it’s something I don’t the U6 catches in the data. I have a small company that I staff on a project by project basis. When a major client cut $60,000 out the budget for an upcoming project, I had to eliminate a dozen freelance jobs ranging from three to six days, paying $400 to $750 a day. My little corner of the world involves video and media production, advertising and marketing. To paraphrase an old saying, when the big companies catch a cold, the little guys get pneumonia and the free-lancers go on life support. Geez, that leads right into Obamacare, doesn’t it? I’ll save that for another post.