You’re Not Alone – Everybody Hurts in the Obama Economy

| July 15 2012

If you’re wondering why the House will vote to repeal the president’s health care law (which is making it harder for small businesses to hire) and stop the president’s small business tax hike (which economists say “would be a blow to the economy”), or why the House has passed more than 30 jobs bills (being blocked by Senate Democrats) – consider the dismal state of our economy under President Obama:

  • The unemployment rate has been higher than 8 percent for 41 months straight – the longest streak since the Great Depression. The 30 “worst months for employment in the past 25 years” have all happened under President Obama.
  • Roughly 12.7 million Americans remain unemployed, and 41.9% of them have been so for six months or more,” reports CNN.
  • “The number of women unemployed in June was 5,785,000, an increase of 780,000 from when Barack Obama was inaugurated in January 2009,” says CNS News.
  • Business Insider says, “184,000 more black Americans went without a job in June, for an unemployment rate of 14.4 percent.”
  • The unemployment rate for Hispanic Americans is “stuck at 11.0 percent,” says the Weekly Standard.
  • People under 30 are ‘desperately trying to find full time jobs,’” according to ABC News. Teenagers have an unemployment rate of 23.7 percent.
  • In a piece about “the jobless class of 2012,” Yahoo highlighted a survey showing only a half of recent college graduates “are now employed full time.” And “only 55 percent of the members of the 2011 U.S. graduating class found long-term positions,” says Bloomberg.
  • According to CNN, “workers with just a high school degree had an 8.4%” unemployment rate.
  • Small business optimism tanked in June” as well, says Jim Pethokoukis, Roughly 900,000 small businesses would be hit by the tax hike being promoted by President Obama.
  • While American workers struggle, the Wall Street Journal says the Obama administration outsourced taxpayer ‘stimulus’ dollars to “foreign companies and workers” for “solar panels built in Mexico, electric delivery trucks assembled in Great Britain,” and more. And by rejecting the Keystone XL project, the administration is sending jobs and energy to countries like China.

A majority of the American people believe President Obama’s policies have made things worse. As Speaker John Boehner said yesterday, we need to get government out of the way and unleash job creators “so that they can begin to do what they do best – grow their businesses and expand jobs.” Learn more about the Republican jobs plan at jobs.GOP.gov.

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