Sky-High State Unemployment Highlights Dems’ Failed Policies

November 22, 2011

Millions of Americans Remain Jobless as Democrats Repeat Failed Policies That Made a Bad Economy Even Worse

New state jobs numbers released this morning highlight the weak environment for job creation all across America—the latest indictment of Democrats’ failed economic policies.
The long-term picture appears even more bleak: new reports project economic growth is far below where it must be to significantly reduce unemployment.
This harsh verdict on the failure of Democrat policies hasn’t stopped Democrats from pushing for more of same failed stimulus spending.

BACKGROUND

New state jobs numbers released this morning highlight the weak environment for job creation all across America—the latest indictment of Democrats’ failed economic policies:

STATE UNEMPLOYMENT “GENERALLY LITTLE CHANGED” IN OCTOBER: (“Regional and State Employment and Unemployment (Monthly) News Release,” Bureau of Labor Statistics, 11/22/2011)

The long-term picture appears even more bleak: new reports project economic growth is far below where it must be to significantly reduce unemployment:

GDP GROWTH ESTIMATE COMES IN 0.5% LOWER THAN EXPECTED: “The economy in the U.S. expanded less than previously estimated in the third quarter as the risk of another recession prompted companies to cut inventories for the first time in almost two years.

“Gross domestic product climbed at a 2 percent annual rate from July through September, less than projected and down from a 2.5 percent prior estimate, revised Commerce Department figures showed today in Washington.” (Alex Kowalski, “Economy in U.S. Expands Less than Expected as Companies Cut Inventories,” Bloomberg News, 11/22/2011)

CONFERENCE BOARD: “HIGH UNEMPLOYMENT AND SLOW GROWTH MAY BE THE NEW NORMAL FOR THE U.S. ECONOMY”: “High unemployment and slow growth may be the new normal for the U.S. economy, according to leading experts at the Conference Board, a global economic research association.” (Bonnie Kavoussi, “Conference Board: U.S. Growth Unlikely to Return to Pre-Recession Levels,” The Huffington Post, 11/21/2011)

ECONOMY “WILL MUDDLE THROUGH THE NEXT YEAR,” TOO WEAK TO MAKE MUCH OF A DENT IN THE UNEMPLOYMENT RATE”: “The U.S. economy will muddle through the next year without a recession, but growth will be too weak to make much of a dent in the unemployment rate, forecasters believe.

“In their latest outlook, top forecasters with the National Association for Business Economics predicted the economy would grow 2.4 percent in 2012, only a slight improvement from the 1.8 percent growth they expect for all of 2011.” (“Economy for 2012 Likely to Grow Just 2.4%: NABE,” Associated Press, 11/21/2011)

BUT WE NEED 4 TO 5 PERCENT GROWTH TO SUBSTANTIALLY LOWER UNEMPLOYMENT BELOW 9%: “That would be far below the 4 percent to 5 percent growth needed to ease the unemployment rate. For that reason, the NABE forecasters expect the unemployment rate of 9 percent to show little improvement next year, averaging 8.9 percent for the whole year.” (“Economy for 2012 Likely to Grow Just 2.4%: NABE,” Associated Press, 11/21/2011)

This harsh verdict on the failure of Democrat policies hasn’t stopped Democrats from pushing for more of same failed stimulus spending:

98 DEMOCRATS RALLY AROUND OBAMA’S CALLS FOR MORE STIMULUS:(Thomas.gov, Accessed 11/22/2011)

WHITE HOUSE SAYS “WE CAN’T WAIT” FOR MORE STIMULUS, EVEN THOUGH THE FIRST ONE FAILED: “President Obama’s growing impatience with Congress’ refusal to ‘pass this bill now’ has launched a new approach — bypassing Congress by taking actions that don’t require congressional support and insisting that ‘We Can’t Wait’ for any more delays on Capitol Hill.” (“President Begins ‘We Can’t Wait’ Economic Push,” Fox News, 10/24/2011)

DEMS CALL FOR $1.5 TRILLION IN JOB-DESTROYING TAX HIKES”: (Helene Cooper, “Obama Vows Veto if Deficit Plan Has No Tax Increases,” The New York Times, 9/19/2011)

AND ANOTHER $467 BILLION IN TAX INCREASES TO PAY FOR STIMULUS 2.0: “The Obama administration is asking Congress to raise taxes by $467 billion over 10 years to pay for the President’s one-year $447 billion stimulus, which he announced during a speech Thursday before a joint session of Congress.” (Neil Munro, “Obama Asks Congress for $467-Billion Tax Increase to Fund Jobs Plan,” The Daily Caller, 9/12/2011)

PELOSI RECENTLY DOUBLED DOWN ON JOB-DESTROYING NLRB ACTIONS: CNBC’S MARIA BARTIROMO: “Do you think it’s right that Boeing has to close down that plant in South Carolina because it’s nonunion?”

REP. PELOSI: “Yes. I don’t think they should close it down. I would hope they would make it union.” (“Pelosi: ‘Yes’ The Obama NLRB Should Shut Down Boeing’s Plant in SC,” Real Clear Politics, 10/29/2011)

POLITICO/BATTLEGROUND POLL: 75% BELIEVE NATION IS ON WRONG TRACK, “RECORD HIGH IN TWO-DECADE HISTORY OF THE BATTLEGROUND POLL”: (James Hohmann, “Battleground Poll: Economy Drags on Obama,” Politico, 11/13/2011)

MORE: 62% DISAPPROVE OF HOW OBAMA IS HANDLING ECONOMY, INCLUDING 47% WHO STRONGLY DISAPPROVE: “Unsurprisingly, Obama’s struggles stem almost entirely from the struggling economy. 47 percent of Americans strongly disapprove of the job he is doing in that area, and another 15 percent somewhat disapprove. Conversely, only 35 percent of those surveyed approved of how the president was handling the economy.” (Justin Sink, “Poll: Obama Leads Top Republicans, but Voters Sour on Economy,” The Hill, 11/14/2011)

CBS NEWS POLL: “OBAMA DISAPPROVAL RATING ON ECONOMY AT RECORD HIGH”: “About 60 percent of voters said they disapprove of Mr. Obama’s handling of the economy, the highest on record. Just 34 percent approve of the job he is doing on the matter.” (Corbett B. Daly, “Poll: Obama Disapproval Rating on Economy at Record High,”CBS News, 11/11/2011)