Yet three years after the mortgage meltdown and the vaunted Obama stimulus program, the real unemployment rate (U-6) actually worsened even if we look at the year of 2011 alone. The U-6 unemployment rate remains over 16% and could actually be far worse because of some of the tricks used by the Bureau of Labor Statistics. In fact, ShadowStats.com puts unemployment in excess of 22 percent.
Unfortunately, this is only the tip of the iceberg. The job losses we'll see in the coming years will make what we've seen thus far look like a jaunt in the park. A quick review of recent articles describing the impact of the massive regulatory state (the EPA alone has grown 120 percent under Obama) offers some ominous projections for future job losses.
|Delaying the Keystone XL Pipeline until after the 2012 election||20,000||LA Times|
|Forcing lignite coal plants in Texas to close (EPA)||14,000||Heritage|
|Gulf Drilling Moratorium (Interior)||72,000||LA Times|
|EPA's Cross-State Air Pollution Rule||1,440,000||Daily Caller|
|EPA's determination that coal ash is a "hazardous waste"||250,000||Western Caucus|
|EPA's shutdown of AEP plants||5,000||CAPPS Online|
|EPA's commercial and industrial boiler regulations||800,000||Clatskanie Chief|
|Interior Department's protection of lizards and smelt fish||75,000||Human Events|
|Jobs killed by the Obama environmental machine||2,676,000|
That's nearly 3,000,000 jobs that President Obama's policies will have un-saved and un-created. Middle-class jobs. Blue-collar and white-collar jobs. Trucking jobs, manufacturing jobs, union jobs.
Liberals, drones, progressives and other anti-American malcontents would be hard-pressed to prove that this President isn't intentionally trying to establish a permanent underclass, whose subsistence is dependent upon the largesse of the federal government.
Because every action this president seems to tack seems to prove that the destruction of the middle class is among his chief goals.
And, further: President Obama is 'historic' only in the sense that he is the most effective job destroyer ever.