Obama’s Days as President are Numbered

23,136,000: The Number Of Americans Who Are Unemployed, Underemployed, Or Have Stopped Looking For Work. (Bureau Of Labor Statistics, Accessed 9/7/12)

12,544,000: The Number Of Unemployed Workers. (Bureau Of Labor Statistics, Accessed 9/7/12)

8,031,000: The Number Of Workers Working Part-Time For Economic Reasons. (Bureau Of Labor Statistics, Accessed 9/7/12)

5,033,000: The Number Of Workers Who Have Been Unemployed For 27 Weeks Or Longer. (Bureau Of Labor Statistics, Accessed 9/7/12)

1,043,000: Construction Jobs Lost Since President Obama Took Office. (Bureau Of Labor Statistics, Accessed 9/7/12)

582,000: Manufacturing Jobs Lost Since President Obama Took Office. (Bureau Of Labor Statistics, Accessed 9/7/12)

368,000: Workers That Dropped Out Of The Labor Force In August. (Bureau Of Labor Statistics, Accessed 9/7/12)

261,000: Jobs Lost Since President Obama Took Office. (Bureau Of Labor Statistics, Accessed 9/7/12)

41,000: Downward Revision Of Jobs Created Over The Last Two Months. (Bureau Of Labor Statistics, Accessed 9/7/12)

15,000: Manufacturing Jobs Lost In August. (Bureau Of Labor Statistics, Accessed 9/7/12)

1981: The Last Time The Labor Force Participation Rate Was At Its Current Level Of 63.5 Percent. (Bureau Of Labor Statistics, Accessed 9/7/12)

43: Consecutive Months The Unemployment Rate Has Remained Above Eight Percent. (Bureau Of Labor Statistics, Accessed 9/7/12)

39.2: The Average Duration Of Unemployment in Weeks – Nearly Double The 19.8 Weeks When President Obama Took Office. (Bureau Of Labor Statistics, Accessed 9/7/12)

14.7: The Real Unemployment Rate Percentage, Including Those That Are Working Part-Time Due To Economic Reasons. (Bureau Of Labor Statistics, Accessed 9/7/12)

11.2: The Unemployment Rate Percentage Had Labor Force Participation Remained Steady Since President Obama Took Office. (American Enterprise Institute, 9/7/12)

8.4: The Unemployment Rate Percentage Had Labor Force Participation Remained Steady From July. (American Enterprise Institute, 9/7/12)

8.1: The Unemployment Rate Percentage In August. (Bureau Of Labor Statistics, Accessed 9/7/12)

7.8: The Unemployment Rate Percentage When President Obama Took Office. (Bureau Of Labor Statistics, Accessed 9/7/12)

5.4: The Unemployment Rate Percentage President Obama’s Advisers Predicted If We Passed His $787 Billion Stimulus. (Christina Romer and Jared Bernstein, “The Job Impact Of The American Recovery And Reinvestment Plan,”1/9/09)

If We Don’t Buy It, It Doesn’t Ship

Not too long ago, Steven Hayward noted that FedEx was showing the effects of economic drought. Now, he’s not just seeing red, white, blue, green and red. He’s seeing brown, by way of the Wall Street Journal:

United Parcel Service reported tepid growth for the second quarter and reduced its profit forecast for the full year, saying customer confidence has been rattled by the European debt crisis and the U.S. “fiscal cliff” looming early next year.

A government can do many things to hide signs of economic decline. China has is probably the leader in that field, and has been for many years. The problem is that it is hard to hide economic facts from the people who put the connection in commerce.

If UPS and FedEx are both saying that their business is dropping off enough to delay or scrub plans for new equipment and new people, then we are hurting. Neither of these companies is USPS, which regularly loses a few billion every quarter. No, these are companies which have perfected, as far as human systems go, the art of moving goods around the world.

Gas Prices Cause Phantom Pain

And Queen Elizabeth lives on a modest budget of $10k per month. No, really. CNN says that one of those statements is true:

Gas prices are once again dominating the national debate.

But despite rhetoric, high gas prices aren’t hurting as much as they used to.

Of course, this is a bit of an about-face for that particular news organization, as noted by AIM:

CNN showcases Obama’s recent rhetoric about gas prices, while conveniently neglecting to fact check any of President Obama’s claims (as CNN did when covering President Bush’s gas price rhetoric in past years).

Throughout the article, President Obama is depicted as an everyman who is just as concerned about gas prices as you are—and just as helpless as you are, too. There are “no easy answers,” the blog entry concludes, immediately after quoting President Obama’s complaint that such things as natural disasters and pirates were “not in [his] campaign platform.” “Add gas prices to the list,” CNN adds.

The blog entry is strange, given CNN’s past with holding Republican presidents accountable for fuel price spikes.

But, going back to the original CNN article, we find that gas prices are not hurting us because the amount we spend on gasoline has dropped as a percentage of our household budgets from where it was at some point in the past (like the early 1980s).

Please. The price of gasoline (and diesel) are reflected in every purchase we make of consumer goods. Food, for example, is more expensive because fuel is more expensive. The bottling company recoups the increased transport costs for its products by increasing the wholesale cost of a 12-pack of bubbly beverage. And so does everyone else.

Gas prices are simply an obvious (to everyone who drives) and daily reminder of the increased cost of things which are derived from crude oil–that product we are drilling everywhere for (except for where the oil is).

One more snipped from the original article:

Gasoline is a boring commodity, not a flashy new iPhone or pair of jeans.

“There’s no joy in purchasing gas,” said Rao. “People look at it as a tax on driving.”

Yet, it’s one of the few singular products people are regularly forced to buy.

It is, in part, a tax on driving. You know, to pay for roads and stuff. And, no one is “forced to buy” gasoline. Health insurance? Yes. Gasoline? No.

It may be a boring commodity–but your iPhone and your jeans would not be delivered to your door without it.

It Is the Economy, Isn’t It?

Herman Cain has been talking about 9 9 9. Rick Perry has just come out with 20-20. There are elements of both which are attractive to me, but I think the best thing going right now is that these presidential hopefuls are admitting to the world that the current system of taxation is not sustainable if we are to recover economically.

I do not know the last time we have had a serious national discussion about the taxation and the cost of government from the perspective that government is costing you and me far more than it needs to.

It’s about time.

Ted Nugent Is An Excellent Shot

I know the man whose name appears above is a pretty good shot with a bow, a rifle or pistol, but he doesn’t do poorly with his pen either:

Ted NugentAnyone with a lick of common sense will tell you that when you are in a hole, you need to quit digging. Continuing to dig will only create a larger problem. Do schools teach this?

Recently, even President Obama’s national debt commission told him that his continuing spending orgy is digging America into a gigantic fiscal hole.

Next year, America’s total debt is expected to exceed $14 trillion. Each American’s share of that debt totals just short of $50,000. If Fedzilla would be honest and put all the figures on the table, we would see that we are in debt more than $100 trillion because of the financial obligations for Social Security, Medicare and Medicaid.

That’s $100 trillion. One hundred percent predictable, 100 percent preventable.

Go read it all.

Andrew adds: “Quit digging”.  I like it.  I think I’ve heard something like this before.  Hmmm