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Democrats Floating On A River Of Denial

Here are some highlights from the unemployment data released today:

WASHINGTON (MarketWatch) -- The U.S. labor market weakened in September as 263,000 payroll jobs were lost and the unemployment rate rose a tenth of a percentage point to a 26-year high of 9.8%, the Labor Department reported Friday.

It marked the 21st consecutive month of job losses. Since the recession began in December 2007, 7.2 million jobs have been lost and the unemployment rate has doubled.

Details of the report were almost universally dismal, with the number of unemployed people rising by 214,000 to 15.1 million.

Of those, 5.4 million have been out of work longer than six months, accounting for a record 35.6% of the jobless. The employment participation rate fell to 65.2%

It is not an understatement to say that Democrats are faced with an unending flow of economic data that shows devastation in the private sector as they (the Democrats) do nothing to stem the mounting job losses. President Obama and the Democrat majorities in Congress are going to have to confront a reality they have been studiously avoiding since 2006: rich people create jobs. They only way rich people will create more jobs is if they perceive some willingness on the part of President Obama and Congress to let them keep more of their earnings to reinvest in businesses.So far, there is no indication that President Obama and the Congress will do that. In fact, the discussion is moving in the opposite direction toward higher taxes.

As has been said many times on this blog, the only path to economic recovery is the one with tax reductions for the job creators (aka the rich). So while the Democrats wallow in class envy millions of families not only have no job, they have no prospects for a job. The product of this policy failure will be anger and despair. This will not end well.


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Comments (37)

Looks like the prediction t... (Below threshold)
Stan25:

Looks like the prediction that double digit unemployment at the end of the year will come true sooner than expected. The magic number will probably be released in next months report.

These are the spin numbers; the real numbers are closer to 15% already.

Many business' do their bes... (Below threshold)
MPR:

Many business' do their best of their business at the holidays. This is looking to be be one of the worst holiday seasons for retail in a long time. That will have a far reaching effect into the American economy like dominoes. Bringing the Olympics to Chicago will not be the discussion around the Thanksgiving table or the Christmas tree this year. And by the way, what are the odds the unemployment numbers stay at 9.8, 9.89, 9.9, 9.99, 9.999 but, not 10% like my mother's age stays at 79 for the last 10 years.

Bush's fault. It's the conv... (Below threshold)
CZ:

Bush's fault. It's the convenient excuse. Wait and see how long before Gibby pulls that one out of his pocket.

Where is the next Ronald Re... (Below threshold)
Matt:

Where is the next Ronald Reagan when we need him? Jimmy Carter's administration failed miserably, in many of the same ways Obama's is. Carter, did it with less style and flair, but it failed just as well. Even though Carter was beat handily, if the Republican Party hadn't coalesced around Reagan, voter dissatifaction might not of been enough to turn the tide. Current Republican "leadership" is pretty lame and doesn't inspire one to vote.

I have an admission to make... (Below threshold)
DaveD:

I have an admission to make. I've become a conspiracy theorist. I now refuse to believe this is denial. OK, publically maybe, but behind the scenes I don't think this bothers them in the least and they are clearly aware the impact their policies will have on American business. It is all about the accumulation and centralization of power. I have had, in general, not much respect for legislators for some time, but I can't really recall ever feeling before they were very likely as much a threat to our fundamental way of life as foreign enemies. I have to make a trip to Washington DC next week and was contemplating stopping by the US Archives to lay a card on the glass case where the Declaration and Constitution are displayed apologizing to our Founders for what we have elected.

It's going to be a long cli... (Below threshold)
Clay:

It's going to be a long climb out of this. I'm in Penang and while I won't say things are booming, they are way out ahead of the US in terms of economic recovery (I know, that's not saying much). Why? Because they're stimulus money was given to businesses with a proven record of fiscal responsibility and competitive prowess. How? They slashed the tax rate for those companies. 25% is the highest corporate tax rate here in Malaysia. The Democrats (and many Republicans) will never understand that businesses do not pay taxes. If they can't pass it on to their customers, they leave. I left, and I'm not apologizing.

Yes, but we'll all go down ... (Below threshold)
Emerson:

Yes, but we'll all go down together. On the People's Bread Line everyone is equal!

What we need to fix this is... (Below threshold)
howcome:

What we need to fix this is a tax increase, cap and trade, massive government run health care and more regulations imposed on every aspect of your life. It is all so simple to talk about the wonders of socialism, it only gets messy when you try to make it work in the real world.

can somebody PLEASE ... (Below threshold)

can somebody PLEASE get Joe Biden a microphone so he can tell us how WONDERFUL this news is?

Please?

I'm...starting to doubt...and I don't want to...please Joe, please reassure me. I DO love Big Brother!

Howcome -Just like... (Below threshold)
JLawson:

Howcome -

Just like all a person needs to do when they're in the ICU after a heart attack is pull on a 50 lb pack and go for a five mile run, and they'll be fine. Or someone confined to a wheelchair will be up and tap-dancing after chaining their feet together.

All the folks inside the Beltway know how to do is pass legislation. It's that old joke about when all you've got is a hammer, everything looks like a nail. But in this case, the joke is on us...

OT - The IOC has eliminated... (Below threshold)
Clay:

OT - The IOC has eliminated Obama, er, I mean Chicago. That'll leave a mark.

So much for the "prestige" ... (Below threshold)
GarandFan:

So much for the "prestige" of the US President.

Joey Biden has said that 'he's astonished at how well the recovery is going'.

DaveD - I'm with you. I do... (Below threshold)
TOhio:

DaveD - I'm with you. I don't think that the Democrats care and that this is all working as planned to consolidate power by purposely tanking the economy.

The sooner people wake up to the fact that we really might have elected an honest-to-goodness Manchurian Candidate, the better chances we have as a country to survive this. People don't want to go there with their thinking, but this purposely driving the country in the tank has to be added to one of the real, plausible explanations for why all of this is happening and the fact that D.C. is not responding in any way, shape or form.

Add this to Obama's extremely weak response to the Iranian threat and we have one very, very scary situation here in the U.S.

Obama has nothing to do wit... (Below threshold)

Obama has nothing to do with the lay offs most of the states didn't accept the stimulus money and those states that chose not to take the money are the very states that are still suffering, Florida is a big example they rather raise taxes on people who are already living paycheck to paycheck but hey that's just my opinion so study your facts before you judge, and remember Bush started the mess.

The IOC is a bunch of racis... (Below threshold)
Eric:

The IOC is a bunch of racists.

really looking forward to t... (Below threshold)

really looking forward to the spin from the White House as to how wonderful it is that Chicago was eliminated from the Olympic bidding!

For the first time in my a... (Below threshold)
Pretzel Logic:

For the first time in my adult lifetime I am proud of the IOC.

In the 60's the hate for th... (Below threshold)
kathie:

In the 60's the hate for the corporate man was so great that the children of the wealth creators, those free sexers, drug users, flower children turned on their parents with a vengeance. Attacking their parents as destroyers of the world. Unfeeling, money is everything, war mongers, users of the weak and poor was their mantra. Well now those same flower power people are in power and have and will play out their fantasy of benevolent government power. Squash the "man", take his wealth and let the little guy prosper. So now they will find out just how wrong headed their thinking was, because the workers are workers, no matter how noble, not job creators. Squash the job creators, however evil you think they are, it's the workers on unemployment lines. The fantasy generation is just that, uneducated, la la land, crying, out of control destroyers of the hand that fed them.

Matt -"Where is th... (Below threshold)
JLawson:

Matt -

"Where is the next Ronald Reagan when we need him?"

Already on the scene, I'd say. The question will be when it's noticed...


Justrand -

Re the IOC - Olympic Games are hideously complex and difficult things to pull off properly. We did okay in Atlanta in the '96 Olympics - but I sure as hell can't figure out how Chicago was supposed to fund and get everything ready. I'd bet that there's a lot of folks there who are going to be pissed that they're missing out on some easy money via graft and corruption.

I once read a theory that t... (Below threshold)
Eric:

I once read a theory that the tipping point for Jimmy Carter's relection defeat was the Miracle on Ice, the U.S. Hockey Team victory at the 1980 Winter Olympics. That victory, reignited a sense of pride and patriotism in America that had been depressed for a number of years.

Jimmy Carter wasn't the beneficiary of that feeling, it was Ronald Reagan who campaigned on pride in America.

I think the IOC's decision is another Olympic defeat for another Democrat President. Pres. Obama went all in for Chicago to get the Olympics, and what did the IOC do, they eliminated Chicago first. Make no mistake, the international community just kicked Obama in the pills.

This is a huge defeat for Obama. But it also shows that he is not the Super-D-Duper President that his supporters make him out to be. This may very well be a tipping point that shows that Obama is not invulnerable politically.

Re: Chris Brown: "..most of... (Below threshold)
Hank:

Re: Chris Brown: "..most of the states didn't accept the stimulus money and those states that chose not to take the money are the very states that are still suffering, Florida is a big example.."

According to recovery.gov, Florida has so far received $8,286,678,535.

As you so politely suggest, "so study your facts".

Kalifornia accepted TONS of... (Below threshold)

Kalifornia accepted TONS of money...and our FUNemployment is skyrocketing!

"...and remember Bush start... (Below threshold)
GarandFan:

"...and remember Bush started the mess."

When all else fails.....................

How about including a screwed up "Stimulus" that was nothing but a Democratic wish list of every inane thought liberals ever had.

Hey Chris, how was spending $116 MILLION for a freaking marsh mouse going to help the economy recover?

The Reality on Main Street<... (Below threshold)
marcc:

The Reality on Main Street

The upshot of all of this is that you can run, but you can't hide.

The corporate cure for accelerating unemployment due to globalization and offshoring is so much snake oil, nothing more than a very deliberate effort to obscure the deadly seriousness of the problem. Neither retraining nor re-education are, or even conceivably could be, the answer for most Americans; and trade imbalances and job loss and career destabilization and environmental and community destruction vitiate whatever little benefit might be derived from globalization for working Americans. The "wall" that most politicians are telling us we can't build around the American employment market is the dike that must be built if we are to retain quality jobs. Or, to change metaphors, it's the compression bandage that should have been applied years ago when we began hemorrhaging manufacturing jobs.
What Can Be Done?

For better or for worse, this is one issue that, in the short term, can best be addressed by political action and/or massively increased unionization.

The transnationals, who have been anticipating this response for some time, are screaming (as they always scream) that regulation and unionization aren't the answer (again, they suggest retraining). But aside from economic logic, history also makes it clear that they're the only possible answers.

source:http://www.progressiveliving.org

Currently on Yahoo's front ... (Below threshold)

Currently on Yahoo's front page:

"US unemployment rate reaches 9.8 percent in September"

and what are the Democrats and the Won doing? From the same headlines:

"Democrats taunt GOP: Where's your health care plan?"

and

"White House lashes out at Fox News, Glenn Beck"

And it really hasn't gotten... (Below threshold)
Gmac:

And it really hasn't gotten as bad as it's going to be when inflation and taxes ratchet up the misery index...

I can't wait to hear the spin as next November approaches the Democrat's like Nell Fenwick tied to the railroad tracks by Snidely Whiplash with no Dudley Doright to rescue them.

marcc -It was 'pro... (Below threshold)
JLawson:

marcc -

It was 'progressive' thinking which has brought California to the point it's at. Or are you arguing (in your sorry-ass cut&paste fashion) that 'progressive' thinking DOESN'T mean PROGRESSIVELY WORSE RESULTS?

I realise it's a tough concept for those on the left to follow, but just because something sounds good on paper doesn't mean the results in reality are going to match up. 'Progressive' thinking confuses the expected results with actual reality. If you're 'reality-based', you'd better be willing to accept that REALITY doesn't give a damn about how 'progressive' your thinking is.

Did you hear the breaking n... (Below threshold)
nehemiah:

Did you hear the breaking news about Rio being awarded the Olympics?

I can't believe how racist the IOC is at this time. I mean Michelle even offered herself to the IOC members.

Now up at Yahoo, the follow... (Below threshold)

Now up at Yahoo, the following headline:

"Recession may boost life expectancy, researchers suggest"

See? The Democrats have already fixed health care in America with their recession. So by raising taxes and extending poor economic conditions they will continue to "fix" health care. Let's elect more of them!

"Recession may boost life e... (Below threshold)
GarandFan:

"Recession may boost life expectancy, researchers suggest"

Gee, that's right up there with "Funemployment".

I know several people experiencing the Democratic "Funemployment" right now. And it's anything but "FUN". At least I've been able to drop off some 'extra groceries' to help them out.

Too bad I can't tap into the $116 MILLION that Nancy got for the San Francisco Marsh Mouse.

I don't know if this is rea... (Below threshold)

I don't know if this is really a democrat/republican issue. In my opinion, the job market/economy is in shambles and everyone is pointing fingers. I have taken action, I have joined The Free Enterprise Nation and I have had enough. For $5 I was able to join my voice and become represented and stand up against all of my tax money going towards politician and gov. workers' pensions and salaries. Join me.

www.TheFreeEnterpriseNation.org

Want to poke holes in their... (Below threshold)
Flu-Bird:

Want to poke holes in their war cannos?

Marc, you really should get... (Below threshold)
bobdog:

Marc, you really should get the Cliff Notes for Principles of Economics by Paul Samuelson, because, forgive me, you haven't a clue. Retraining isn't the answer. Education is the answer.

And you should cut and paste from a more intelligent source than the chewed over Communist pap at "progressiveliving.org", and I certainly wouldn't attribute them as the source of your thinking. Here's an idea - let's look at what they say under Economics, which takes about 10 seconds:

"For example, in the lens of corporate economics, people are just one more resource to be exploited. Labor is just one more expense, its cost to be minimized to the maximum extent possible, or eliminated outright." Ah, the Oppressed Working Class. The Bourgeoisie. Workers of the World, unite!

If you want to get specific, unions are not the SOLUTION to the problem, they are, at least in part, the CAUSE of the problem. Go read up on what happened in the domestic steel industry. Or the auto industry. In virtually every major industry where unions dominated industry, labor and fringe costs rose to the point where their industries became constipated, rule-bound and ultimately uncompetitive.

The result was a predictable looting of profitability and the marketplace discovering they could find cheaper sources overseas. In industries where jobs could not be shipped overseas, like railroads, they withered and died.

Don't even try to come around here and tell us that massive unionization is the answer to the world's troubles. Many of us had economics in school and know how to think like grown-ups. We don't always do it, but we at least know how.

You might as well get right down to it and blame all the world's problems on the Jooooz, or The Rich, The Evil Monopolists or some other concocted scapegoat du jour.

Psst...Bush KNEW!! Go chase that one for a while.

Now is when I wish Obama wo... (Below threshold)
Dee:

Now is when I wish Obama would find his inner Clinton. Say what you will about Slick Willy, the guy read the tea leaves like no one else other than maybe Reagan when it came to America's political mood. He embraced the Republican revolution as his own and saw the fruits of that wise decision. Clinton knew how to check his ego at the door in order to stay around for a second term. I am not sure Obama is smart enough to do that. If not, he is a one term president where yet again America learns never to trust the presidency to an underqualified slick talker. All talk, no progress.

I said back when they passe... (Below threshold)

I said back when they passed the "stimulus bill" that it seemed to me that the administration was using Atlas Shrugged as a script for their programs.

I still think so.

Things will get worse before they get better.

"Too bad I can't t... (Below threshold)
914:

"Too bad I can't tap into the $116 MILLION that Nancy got for the San Francisco Marsh Mouse"

That's a misnomer... The $116 million really went into a slush fund to help reanimate Nancys facial exspressions.

It gets worse: Obama's EPA ... (Below threshold)
John S:

It gets worse: Obama's EPA has proposed new rules for carbon emissions. Basically they will make it impossible to build a factory, power plant, or oil refinery in the United States. That should help investment and jobs. Watch unemployment reach 30% by 2012.




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