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Saturday, March 17, 2012

Economy Still Tanking Despite Media Reports to the Contrary

Over at Economic Collapse blog, I saw a synopsis of the latest economic polls that say it all better than I would have put it myself.
Are you better off today than you were four years ago? If not, then you are just like most other Americans. According to a CBS News/New York Times poll that was released a few days ago, 80 percent of Americans say that their financial situation is not "better today" than it was four years ago. But if you turn on the television and listen to what the "pundits" are saying, you would be tempted to think that we were in the midst of a robust economic recovery. You would be tempted to think that the U.S. economy is in great shape and that we are heading for a really bright future. But the fact that the stock market is soaring does not mean much to most Americans. In fact, most Americans couldn't care less that the Dow is well above 13,000 and that the NASDAQ is above 3,000. What most Americans care about is having a job and being able to provide for their families. If you haven't paid the mortgage in three months or if you don't have enough money to take your daughter to go see the doctor it really is not going to matter to you how well the boys and girls over on Wall Street are doing. Right now most American families are doing worse than they were doing four years ago, and no amount of media hype is going to change that fact.
.... 
When Barack Obama entered the White House, the number of "long-term unemployed workers" in the United States was approximately 2.6 million. Today, that number is sitting at 5.6 million.
Too true. And that's precisely why all the media hype in the world isn't going to make Obama's approval numbers go up. That blog has plenty of other numbers for you to see; follow the link provided at the top of the page.

Regarding other economic news, Rush Limbaugh highlighted Friday a preview by Paul Ryan of the budget proposal coming out next week.  Says Ryan in part of it:
You know, I was here in Congress in 2008 when we had the economic crisis. It was a terrible time. Millions of people lost their jobs, trillions of dollars of wealth gone. This coming debt crisis is the most predictable crisis we've ever had in this country. And look what's happening. This is why we're acting. This is why we're leading. This is why we're proposing, and passing out of the House, a budget to fix this problem so we can save our country for ourselves and for our children's future.
The liberal media (on Obama's behalf) can blame the GOP for nonexistent problems like contraception all they want but I'm not seeing anyone on the left addressing our economic problems. Out they should go! We should vote out any member of Congress or president who is not committed in both word and deed to tackling spending and the deficit. $15T and rising, more than $5T in three years, deficit exceeding the GDP, the debt per capita those than Greece? What better time is there to address our problems than now? Otherwise we're following the EU with our eyes wide open. That would be the stupidest thing I've ever heard. Those who don't learn from history are doomed to repeat it - but to follow a fresh example is even worse!

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