Major Economists Agree Another Recession On The Way – Many Doubt We Emerged From Last One At All!
Persistent high unemployment is now being blamed for the impending double-dip recession that many economists argue is already here, or that we’d never exited the Great Recession in 2009 at all according to an article in today’s Investors Business Daily.
Nearly 25% of working American’s are Unemployed or Under-Employed according to the Bureau of Labor & Statistics.
9.2% of our workforce is Unemployed. No job, no paycheck, many have exhausted their overly-generous 99 weeks of unemployment.
Nearly 16% are chronically Under-Employed.
Chronic Under-Employment is a situation where a worker is employed, but not in the desired capacity whether in terms of compensation, hours, or level of sill and experience. While these folks are not technically unemployed, the Under-Employed are often competing for available jobs.
Nearly 25% of our workforce being Unemployed or Under-Employed isn’t a recession, this is Great Depression territory. Our economy hasn’t seen these types of numbers since 1938!
Is it any wonder that the majority of American’s have abandoned Obama’s economic “principles” and find themselves in complete disagreement with the direction of the country?
According to Gallup, only the most staunch, Liberal Democrats are still “with” Obama. The problem for Obama is, self-identified Liberal Democrats make up approximately 12% of the voting population.
These are the folks who recently boo’d and hissed at White House Communications Director David Pfeiffer, claiming Obama wasn’t liberal enough on issues such as gay rights and gay marriage. But then, where are the gay’s going to go?
Obama’s in big trouble in 2012. At the rate he’s plummeting in the polls, don’t be surprised if a bag of dirt running as a Republican sweeps all 50 states.