It is doubtful that the millions of Americans who cannot find work are taking any comfort in assurances by some that the recession is “over.”
It certainly did not feel “over” when it was announced recently that unemployment in December officially remained at the 10 percent mark, after companies had to lay off an additional 85,000 workers nationwide. There had been hopes that the rate might fall back to a single digit, but that was not to be.
And that, alas, is not the most alarming number.
Many unemployed Americans gave up the search for a new job in December, so they are not officially included in the unemployment rate. And many who wanted full-time work had to settle for part-time positions. When their numbers were added, the unemployment, or “underemployment,” rate rose in December from 17.2 percent to 17.3 percent.
Those are extremely troubling figures, but there is little evidence that Washington intends to alter its current, economically destructive course. Not only is there the likelihood of a second “stimulus” — after the failure of the original one to create jobs. But congressional Democrats are moving fast to approve — behind closed doors — a final ObamaCare socialized medicine bill, with no idea how to pay its trillion-dollar-plus cost.
Our nation is already $12.1 trillion in debt, and the interest payments the debt requires discourage any potential for economic growth.
The president and his fellow Democrats say they want to boost employment and turn the economy around. But when will they take steps to cut unconstitutional, unwise spending and give the free market a chance to bring about the improvements they claim to seek?