Zerohedge.com’s Tyler Durden (the first rule of … eh, you know the rest) precisely spelled out the government version of “Project Mayhem”:
“A month ago, we joked when we said that for Obama to get the unemployment rate to negative by election time, all he has to do is to crush the labor force participation rate to about 55 percent. Looks like the good folks at the BLS heard us: It appears that the people not in the labor force exploded by an unprecedented record 1.2 million. No, that’s not a typo: 1.2 million people dropped out of the labor force in one month! So as the labor force increased from 153.9 million to 154.4 million, the non-institutional population increased to 242.3 million, meaning those not in the labor force surged from 86.7 million to 87.9 million. Which means that the civilian labor force tumbled to a fresh 30-year low of 63.7 percent as the BLS is seriously planning on eliminating nearly half of the available labor pool from the unemployment calculation.”
READER COMMENT: Democrats took over both houses in Jan 2007. So those 8 million jobs that went missing happened under Democrat management. TARP was written by democrats in both houses. That hole was dug by democrats. The last republican congress in 2006 had unemployment at 4.6 and the deficit at 160 billion. Now,after 5 years of democrat majorities real unemployment is above 15% and the deficit is 1.7 trillion.
Thank the democrats for destroying those jobs and creating the 8 million unemployed who lost their jobs under democrats.
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