Obamanomics: Unemployment 7.9%

Get Glenn Live! On TheBlaze TV

Even though the rate ticked up, 157,000 jobs were added – BUT 169,000 people gave up looking for work and left the job force. In Obama’s 1st term the total number of people who left the workforce is 8.5 million but fortunately for Obama those people are not counted in the unemployment figure — if they were the unemployment rate would be 14.4%.

TheBlaze broke down the report HERE.

“Unemployment is up at 7.9%. Gas prices over $4.  G.D.P. is down.  Inflation is up. But the good news is this this President inherited this situation from the last President,” Glenn said.

” You know what I thought of this morning.  We’re witnessing – because how many of us how did FDR get four terms? He didn’t turn it around.  He kept going, and going.  And using the same policy, and dig it deeper, and deeper, and deeper.  How were those people so stupid?”

“We’re living it.  If there were not term limits I’m convinced he could do four terms easily.”



  • http://www.artinphoenix.com/gallery/grimm snowleopard (cat folk gallery)

    Obamanomics, the forces of outright destruction for this nations future and enslavement to debt and a communist dictator unleashed by the idiots who voted for him.

    Those who voted for Obama, you wanted a king, now you shall suffer for having him. Elections have consequences, now we will see the madness of Obama reach new heights.

    • Draxx

      A few more of his Dictator Type Executive Orders & Memos, and Americans are going to start disappearing in the middle of the night…  for crimes such as being a Tea Party Members (according to Obummer the New Domestic Terrorists).

      • Anonymous

        Paranoid mucH? Better check under your bed!

        • landofaahs

          It’s not paranoia when the bastards really are after ya!  But if it bothers you so much why are you so paranoid aginst guns who have no brains or will of their own?  Are you also paranoidial fearlful of “differing opinions”?

    • Anonymous

      Some “communist dictator”, I made a killing in the stock market last week, while you chumps are buying Glenn Beck’s gold scams, the stock market is hitting all time highs, and the price of real estate is heading no where but up. The only one who is going to suffer is chump like you who are about to miss the bus….

      • Anonymous

        …Cool critten,You made money this week.   Al Gore made a killing too! ……..and that relates to Obama running up the national debt to beyond recovery and record numbers of executive orders while costing the American taxpayers over a billion dollars to take care of HIS family—- how?   Oh yeh,  you made a killing!  just in time for the new tax laws!  Al Gore got in just under the gun.  He’ll keep his money!   I love it!  More free phones and birth control for the masses, uh  I mean voters.  Let’s talk again in four years or better yet when you are medicare age.  Unless you have a government job, because in that case you wouldn’t understand.  

        • Anonymous

          You guys have been swallowing doom and gloom for a decade, the rest of us have moved on. Free birth control is fine with me, saves us all kinds of money down the road, free phones is another right-wing urban legend, fat 401k getting bigger every day, well, that keeps up I’m not too worried about “medicare age”.   And if you haev a problem with executive orders, call your Congressman or file a lawsuit, instead of whining about something that you could actually do something about if it bothers you.

      • landofaahs

        The market is a rigged game run by a Chicago thug.  If you doubt it, I would ask you what would happen if the Fed was neutral about buying treasuries, ie no QE?  ….Need an answer? Das Toilet.

        • Anonymous

          So, like, you got scammed on gold, huh?

          • landofaahs

            My finances are fine. Obamanomics is the scam.

      • Draxx

        Why would any of us that see your ridiculous post (with your 15 yr old attitude & comments), want to take Stock Market Advice from you???  Money is available for those that really want to earn it!  Our problem is with current policies (TAXATION) our earned money is not going to go as far as it should, especially of Obummer & Soros collapse our economy!  At least gold is tradable, your stock market paper money will be worthless if that happens (how valuable is Confederate Money now-a-days)…

    • Anonymous

      Wow, car sales by US automakers have doubled. Stock market hitting all time high. My 401k just went up ten grand. If this is destruction, give me more!

  • http://www.artinphoenix.com/gallery/grimm snowleopard (cat folk gallery)

    Obama economics – the manifestation of insane ideas and bankrupt ideology of the followers of the Democratic god-king.

    • http://www.facebook.com/profile.php?id=714590666 Rijnbergen Harold

      Please follow your patriotic business men who robbed the USA, put the productions in other countries and make China (a communist country) richer and richer.
      Op your eyes, america has been left by the true dictators……..who preach freedom but are against gaz marriage, abortion, other religions than the christian one, who hate some clothing, life styles, attitudes…….but love weaponery, probibly love the shootings at kids at school…..(supports the weapon selling and lifts the production of weapons in their factories in China)

    • Anonymous

      Yeah, Bush’s trillion dollar bank giveaways while the economy collapsed never happened……..

      • landofaahs

        Bush left those funds to obama the dumbass to use as he might….We see the results. Stop blaming Bush when these democrats have been debt slaving the American people for decades. URA troll. 

        • Anonymous

          He did? Actually, TARP funds were given directly to the banks and insurance companies, you idiot. 

          • landofaahs

            Jan.09,2009 on ABC’s Good Morning America. Report: President elect barak obama has asked President Bush today to release the second traunch of the Tarp funds be released so he would have ammunition if the country’s fragile economy weakened further. In the same broadcast he indicated that he would change some of the practices on the frist traunch of funds being allocated, ie the first $350 billion. So once again you are wrong/

  • http://youtu.be/xm1F7ub00gk Sam Fisher

    What you mean socialism does not work? Wow who would have known that? my word how can people be so stupid to vote this guy back in when he has no freaken clue on how basic economics works. the unemployment rate went up the unemployment rate went up et again and so has everything else thanks liberals for making more poor people and running over the little guy who actually want to work for a living and not depend on a moronic government that thinks spending and socialism is going to get us out of this. I am sorry it never works liberals.

    • http://www.facebook.com/people/Jw-Appling/100001282155183 J.w. Appling

       The welfare Obama phone people have no freaken clue on how basic economics work they get a check from the gov every month. Do you want to know why these leaches out number us??? They get more money every time they have another kid. if we stopped rewarding them they wouldn’t be like this.

  • http://www.facebook.com/people/Skyler-Sneathen/100001205612843 Skyler Sneathen

    I so prefer Reaganomics

    Unemployment average of 7.5% over his 8 years (not much better than Obama’s)
    Cut the taxes on the upper bracket but raise taxes on the bottom bracket (Rich pay less, poor pay more, huh? WHY!?!?!?!”)
    De-regulate industry through executive fiat (yeah that’s constitutional)
    He inherited a $900 billion national debt and left office with a $2.8 trillion debt (gee, thanks Mr. Reagan)
    And he had aan average national budget deficit per year of $237.5 billion, as
    compared to an average national budget deficit per year of $56.9 billion
    during Carter’s term. (And here I thought Carter was a socialist communist who spent oodles and oodles on welfare and useless crap like roads, education and relief)

    So if you like sticking it to the poor, giving the rich a break, spending tons of money and saying to Carter “my deficit is bigger than yours” go vote for Reagan.

    • Erik Danudjaja

      “Cut the taxes on the upper bracket but raise taxes on the bottom bracket (Rich pay less, poor pay more, huh? WHY!?!?!?!”)” He cut taxes on the rich, but the rich paid a higher % of all taxes, and paid more in real term. It’s called the Laffer curve. He also cut out inflation.(helps almost all of us) Which basically meant he stopped printing a lot of money, which meant that couldn’t fund the debt(increased deficits) cutting inflation in of itself hurts the economy for a few years (accounts for the high percentage) and then set us on a path of steady growth, which took us all the way into the Clinton administration. Reagan was far from perfect. but Reaganomics actually works. I would vote for Reagan any day.

      • http://www.facebook.com/people/Skyler-Sneathen/100001205612843 Skyler Sneathen

         I too vote for more funding of rebels in Nicaragua, project Star Wars (haha what a joke), spending $1.7 billion of our money for the colossal failure that is the war on drugs, funding terrorists in the Middle East like Osama, aligning with former Dixiecrats and having an obnoxious wife with her just say no campaign.

    • http://www.facebook.com/people/Jayne-Nielsen/100000024501720 Jayne Nielsen

      “The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the US Government cannot pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. Increasing America ‘s debt weakens us domestically and internationally. Leadership means that ‘the buck stops here.’ Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.”
      — Senator Barack H. Obama, March 2006

      • http://profile.yahoo.com/YBUE4KBBOIACZIQX746RBWYX3A Tory C

        Mmmmmmm…your ignorance and rage are like a sweet sweet wine.
        Every drop reminding me why the confederates are doomed.
        Please, do continue.
        I will so enjoy pissing on the Conservative GOP’s grave.

        Abraham Lincoln would be ashamed of you all for what you did to his party.

        So Please, continue riding reagan’s rotting dick like the good fool you are.

        For my part, I await the coming of the Great Noodley Appendage and the death of the two party system.

        The Judge System. Thats were its at.

      • http://www.facebook.com/people/Skyler-Sneathen/100001205612843 Skyler Sneathen

         I’m not defending Obama, Bush or your precious Reagan. Bush was inept, Obama a narcissist and Reagan a corrupt fraud.

        I love how you label him as “my president” number 1 I didn’t vote, democracy is a sham. Number 2 – he is my president and yours as well, accept the election and the constitution, there is no cherry picking here.

        Of course Obama chastised them, people eat that stuff up and every president does it. FDR did it to Hoover, even though their policies were similar except FDR just amplified it.

        You don’t have to show me Bush’s track record it speaks for itself, it’s common sense. Obama is nothing more but Black Bush.

        Obama sticking it to the poor by giving them free stuff. Yup, I bet they feel so exploited. He just secured a bill that would not raise their taxes but only on the upper bracket, where Reagan did the complete opposite. Tell me, why do the poor have to pay more at the rich’s expense. And he’s doing nothing to create jobs. Hmmmm funny. Under conservatism I thought the government doesn’t make jobs, but the free market does. So in a conservative world Obama is doing right there. Because if he made jobs it be the socialisms right?

        OWS can go to hell for all I care. If it were up to me I’d call in the National Guard and order them to open fire on them and tea partiers alike.

        What makes Obama brilliant and impressive you ask?
        First he was willing to change his mind on gays, apparently gays are people who knew.

        Under him we waved goodbye to Qaddafi and Osama.

        Finally got a healthcare law passed. I don’t support it but as far as politics and history goes, its impressive since it’s been an issue since 1912 just about. The fact that he can say he got it passed is impressive.

        2012 election, even though he had quite an opposition.

        Understand every president is open to scrutiny, except Reagan he is Jesus…if Jesus were an asshole, an actor, former Democrat, former spokesman for one of the largest progressive companies (G.E.), a liar, a racist, self-righteous moralist and  a gangster.

    • http://profile.yahoo.com/HQGUYJFXDFNWDSKCYJWC5BMTDQ Raven

       Never saw a poor person pay anything EVER.

  • http://www.facebook.com/profile.php?id=1530373829 Rory Foutz

    hey I say give him 3 or 4 terms, let the libs have their way, let them screw it all up and prove t them once and for all that their philosophy wont work

  • Anonymous

    The people I talk to think everything is fine. I don’t get it. Are they in a dream world? I hear them repeat talking points from Obama that mean nothing at all.

    • http://profile.yahoo.com/HQGUYJFXDFNWDSKCYJWC5BMTDQ Raven

      Are they satisfied with their poverty?

      • Anonymous

        Obama had two kinds of voters – those that either do not work or do not pay taxes so this economy does not affect them. They continue to get their free stuff and as the economy gets worse, we, the tax payer,just gives them sympathy and more free stuff. The other Obama voter has a lot of money and/or they get benes from Obama and his policies so they like the economy. It is us poor soles in the middle that are concerned about our future and the future of our country.

        • Anonymous

           A cop gets shot or sick he gets paid nonetheless ..soldier same deal..economy isn’t bad due to spending on those who lose their jobs and seek out family servces try all the illegal aliens who come to America don’t pay taxes and mooch off the system..add to this our enormouse Military complex and corrupt no-bid contracts who rob out coffers dry!!..wake up!..lets go w/ no goverment at all no rules no justice system no military no cops!! and we all have guns,and rockets etc!!,,you’d probably like that!

      • Anonymous

        I guess they can’t see it. It boggles the mind. Anyone struggling usually blames Bush or the congress.

    • http://www.facebook.com/people/Jw-Appling/100001282155183 J.w. Appling

       They got their free Obama phones and that mean old Romney isn’t taking their welfare checks away. Thats all that matters to the brain washed lemmings who voted for the poser.

    • Anonymous

      They are probably on the dole and don’t want anything to change.  It’s amazing how the ones that are living of the government how everything is great in Obama’s kingdom.  Sad.

    • Gregg Luongo

      I hear the same thing and it drive nuts

    • Anonymous

      They are probably making a killing in the stock market like I am.

      • Anonymous

        Really? What stocks? I don’t see any stocks going up.

    • http://www.facebook.com/william.vining.3 William Vining

      Glenn Beck has been predicting economic collapse and doom and gloom for years, when are you going to wise up?  The whole thing is an act for suckers, so they buy his tepid books, in reality, it’ all bullsht.

      • Anonymous

        Interesting. So you believe that everything is fine? As they pump more money in to our economy we lose our triple A credit rating. We have already been downgraded. Once we lose that our national security will be at risk. The only reason things have not collapsed is because of the fake money being put in to the system. How long can we keep doing that? We are borrowing money and printing money which will cause inflation. The only way to get rid of inflation is to raise taxes and then take that money and burn it. Check out what happened in the past. Before you call something bull, you should do some research. The only sucker will be those who believe the narrative that everything is fine. (“Don’t look at the man behind the curtain”) and everything will be ok. The collapse will occur when we stop raising the debt ceiling and we have no one else to borrow from. We can’t pay the finance charges on the of money we owe now. It has nothing to do with Glenn Beck and his predictions.

  • http://pulse.yahoo.com/_RARXEIPY5325EXVSVYG3TAZEMU TippingPoint

    Obama makes me want to stick a pencil in my eye; distracting the pain is the only way to coup, try it!

  • Anonymous


  • http://www.facebook.com/profile.php?id=588195277 John Kolak

    I read an analysis that said that with the changes in the way the unemployment rate is calculated that we are actually above 23% unemployed.

  • cajunwoman

    No work for people and an invasion of 11 million illegals lets not forget these companies like at&t, direct tv and many more companies that send customer service jobs to india, mexico, the phillopines and evey other place, customer service we can’t understand what they say but they are customer service and if they don’t ship the jobs out they use machines for CUSTOMER SERVICE? Let’s not forget lead tainted goods from china for walmart who by the way makes more money than carter has liver pills. Thanks mr president

  • http://profile.yahoo.com/HQGUYJFXDFNWDSKCYJWC5BMTDQ Raven

     That sounds about right in our area. Lots of people begging, restaurants giving freebies and extreme discounts, movies and events, like theatres giving away free tickets just for appearance sakes of filling the seats. Actions speak louder than words.

  • Anonymous

    As long as unemployment rate is calculated by unemployment payouts,Obama will look good to his voters. It doesn’t matter how many millions unemployed people have given up claims that expired, how many are living on welfare or how many live on the streets. The US has become a big propaganda machine where true facts are not even mentioned. ANY bad news is swept under the rug or totally skewed. Whether Obaa truly had a majority vote for his re-election we’ll never know, as everything is past histoery. Who is going to question those results where the voter turnout was over 100%? Who is going to investigate where 100% of votes went to Obama? Who is going to question for the truth on Benghazi? And on and on.

  • http://www.facebook.com/wbaltzley Walter Ignatius Baltzley

    “How were those people so stupid?”  People become desperate when they lose everything and have nothing.  FDR…with Congress’ help…gave enough people low paying jobs and handouts to give them (false) hope that he would turn things around.  Obama is doing the same.     

  • John Beam

    Obama is the worst president ever, and yet, he could be president for life, all on account of his skin color.  People in this country are so simple-minded that they just can’t get over a half-black president.  The novelty of it just never gets old for some folks.

    • http://www.facebook.com/people/Jw-Appling/100001282155183 J.w. Appling

       It got old to me real quick but some people never get tired of playing the race card I’ve been called a racist so many times in the last 4 years that it means nothing now. It’s the dems way of saying I disagree with you.

  • Anonymous

    Isn’t Glenn BecKKK building a conjob disneyland?

    • http://www.facebook.com/people/Jw-Appling/100001282155183 J.w. Appling

       I don’t know I thought all you Dixiecrats were clan members you should that.

      • Anonymous

        “Dixiecrats were clan members you should that.” You have that in English Dumbass?

  • http://www.facebook.com/profile.php?id=1209512798 Ed Hardiman

    When 70% or better of all new hires in the past 8-months are government jobs how long can Obama and company ride that fiscal death spire?

  • http://www.facebook.com/profile.php?id=1209512798 Ed Hardiman

    Add in every working families shoveling $20,000 or better annually into the general fund for Obamacare policies starting in 2014, Congress looting it like drunken pirates and take the 3,000,000 people currently uninsured and ratchet them up to 40-60,000,000 people and what we have here is a boat filled with explosives engulfed in flames and headed for Lake Gasoline, we’re talking dogs marrying cats here…

  • http://pulse.yahoo.com/_3DWM3QMXCL5KVQ76JPPC4SPRLM Coach

    when there was no “Arab Spring?” There was peace in Libya, Egypt,
    Tunisia, Yemen and Syria,
    North Africa was not being overrun by Islamists, and Iran wasn’t developing nuclear
    weapons. Terrorism was at its lowest ebb since September 11, 2001. Then Obama
    took office, traveled to Cairo, addressed the Muslim world, prayed in the local
    Mosques, met with leaders of various Islamic terrorist organizations, and then
    in March 2010 all hell broke loose.


    But let’s
    not allow ourselves to be distracted by events in Africa and the Middle East. Instead, let’s stay focused on what’s happening here at home.


    The IRS
    today reported that under ObamaCare the average American family will have to
    pay over $20,000.00 per year for the cheapest Bronze health insurance package
    or be fined 2.5 percent of taxable income, or $2,085.00.


    Americans dropped out of Labor Force in January as “seasonal
    employment” ended and unemployment ticks back up to nearly 8 percent.


    The number
    of Americans on “welfare” increased from 45,000,000 on November 1,
    2012 to more than 48,000,000 as of today, February 1, 2013.


    Wednesday Obama announced his own plan for Immigration Reform, and it is in
    direct conflict with the plan put forth on Tuesday by a group of Republicans
    and Democrats working together. In fact, Obama’s plan calls for an immediate
    path to citizenship for millions of illegal aliens without first securing our
    borders or having them wait in line for green cards or learn to speak English.
    He further stated that it’s going to be his plan, even if he has to circumvent
    Congress to make it happen. And this threat follows on the heels of a report by
    the U.S. Department of Human Services that stated that the 11 million illegal
    alien figure is no longer valid … that said estimate is 15 years outdated and
    does not include new arrivals, family members, and anchor babies … so the
    actual figure is closer to 24 million lawbreakers!


    January 31, 2013, a day of infamy, the Democratic Senate voted to support the
    Obama administration and continue to sell Islamic Egypt more weapons, thus
    bringing the total to more than 300 F-15 and F-16 jet fighters and 1,200 Abrams
    M1A1 Main Battle Tanks, weapons which, as the Republican Congress pointed out,
    will undoubtedly be used against Israel and ultimately the United States.
    Incredible! Obama is aiding and abetting Islamic terrorists, the Middle East is in chaos, and the Democrats falsely
    believe they can influence events by continuing to arm our enemies.


    speaking of the Middle East, the State Department today admitted that it had
    published the names and photographs of all our diplomatic personnel in Benghazi, Libya,
    including the protective “DS Special Forces” detail and Ambassador
    Chris Stevens, several weeks prior to the attack on our consulate … thus
    making them easily identifiable targets. The names and faces of our people, as
    well as interior and exterior photos of the consulate, appeared in “State
    Magazine” and were then posted on the Internet. Why leak classified
    information when it can be posted and then viewed by every terrorist
    organization in the world? Unbelievable!


    Clinton is still perturbed by allegations from Republican lawmakers that the
    Obama administration intentionally misled the public about whether the attack
    was a protest gone awry or a terrorist attack, or intentionally withheld
    additional security for diplomatic personnel in Libya knowing that an attack was
    imminent. She’s only perturbed because they all got caught lying!


    just released prove that the so-called chemical
    bomb that Assad tossed on his people never happened and was instead a set up by
    Obama to get NATO troops to invade and help al-Qaeda rebels and the Muslim Brotherhood
    take control of Syria.
    The documents that were hacked and released by an inside source from the White
    House prove Obama knew about this and helped facilitate it. He has been helping
    the Muslim Brotherhood since he took office, and their commonly shared goal is the encirclement and destruction of Israel. Obama not only needs to be impeached,
    but hung for high treason.


    On January
    4, 2013, NY Democratic Congressman, Jose Serrano, introduced “H.J.
    Resolution 15,” a piece of legislation aimed at an amendment to the
    Constitution of the United States to repeal the 22nd article of amendment,
    thereby removing the limitation on the number of terms an individual may serve
    as President and thus opening the door for Obama to run for an unprecedented
    and unconstitutional 3rd term in office. “No way, Jose!”


    And just
    two days ago, Obama cancelled our TARS program effective on the “Ides of
    March,” March 15, 2013. Coincidence? I think not. TARS is a radar-defense system capable of
    detecting both low-flying aircraft and incoming enemy missiles in support of
    the North American Aerospace Defense Command’s air sovereignty mission for the
    continental United States. Not only will this closure mean hundreds of people
    will be out of jobs, but it also means our borders will not be safe, especially
    along the remote U.S.-Mexico Border. Without these defense radars, low flying
    aircraft will go undetected, and it will be open season for any drug/gun/slave
    smugglers, terrorists flying in with nukes, low altitude missiles, or even a
    full scale low elevation invasion/attack against America.


    Think about it. First he cut our F-22 Raptor and F-35 Lightning fighter
    programs. Then he cancelled orders for new aircraft carriers, cruisers and
    submarines. Then he announced plans to dismantle our “nuclear
    deterrent” by drastically reducing the number of our nuclear warheads,
    phasing out our strategic bomber force and ballistic-missile submarines, and
    shutting down our ICBM missile-defense bases. Then he shut down NASA and
    retired our space shuttles, thus negating our “Star Wars” program and
    making it impossible for us to service and repair our existing military
    satellites. Then he closed down our only tank factory.


    Now tell
    me, what’s going to happen when a million-man Arab army rolls into Israel this
    spring, while Islamic suicide bombers simultaneously attack soft targets in
    America’s heartland, thus creating widespread fear, panic, confusion and disorder, while
    taxing our resources to the limit? Who is going to prevent the slaughter of 7
    million Jewish men, women and children, when we will be incapable of helping or
    defending ourselves?


    Obama’s dream for America is not the dream of our forefathers, or our
    dream, but is in fact our worst nightmare, and he has already launched a new
    campaign to demoralize and destroy our country from within by continuing his
    negligent spending spree, gutting the economy, bankrupting our government,
    trampling our Constitution, circumventing Congress, dismantling our military,
    demanding amnesty and citizenship for 24 million illegal aliens, and chopping
    away at traditional American family values and religious beliefs. And if we
    allow him to continue, America
    as we know it will cease to exist and our children and grandchildren will grow
    up in an Islamic state governed by Sharia law.


    Is America
    doomed? Is this the end of the USA?
    What can we do to prevent it from happening? How can we save our country and
    our loved ones? You tell me.



  • http://pulse.yahoo.com/_73CIKYA25XJQN4I3WN5CX6JTCU LEROY A

    If you believe the unemployment rate is 7.9% you are smoking dope. The real number is 9.5 % but the media will not report that.

  • Anonymous

    Way to go Obama.  Your plan to make this a socialist/communist country is right on track.  Hope all of you idiots who voted for this manipulator in chief are thrilled.  I weep for the young people who had no say but were victims of their so called caregivers’ idiocy.

  • http://suzeraining.wordpress.com/ suz

    bill of no rights.

    the quintessential charter of negative liberties.

  • Anonymous


  • Anonymous

    Isn’t it amazing how the left have to constantly lie in order to make their selection in their voting look good.  It’s a shame he doesn’t have any morals or character to stand on his own.  What a looser.   Prayerfully, in 2014 we can again try to make a change.  We have to be united and not lose hope, and maybe we will prevail.  God willing!!

  • Guest

    Now, a perspective from the informed side of reality:

    The Bureau of Labor Statistics reported Friday that American employers added only 157,000 jobs in January. That’s fewer than they added in December (196,000 jobs, as revised by the Bureau of Labor Statistics). The overall unemployment rate remains stuck at 7.9 percent, just about where it’s been since September.The share of people of working age either who are working or looking for jobs also remains dismal – close to a 30-year low. (Yes, older boomers are retiring, but the major cause for this near-record low is simply the lack of jobs.)And the long-term unemployed, about 40 percent of all jobless workers, remain trapped. Most have few if any job prospects, and their unemployment benefits have run out, or will run out shortly.Close to 20 million Americans remain unemployed or underemployed.It would be one thing if we didn’t know what to do about all this. But we do know. It’s not rocket science.The only reason for employers to hire more workers is if they have more customers. But American employers have not had enough customers to justify much new hiring.There are essentially two sources of customers: individual consumers, and the government. (Forget exports for now; Europe is contracting, Japan is a basket case, China is slowing, and the rest of the world is in economic limbo.)American consumers – whose purchases constitute about 70 percent of all economic activity – still can’t buy much, and their purchasing power is declining. The median wage continues to drop, adjusted for inflation. Most can’t borrow because they don’t have a credit record sufficient to allow them to borrow much.And now their Social Security taxes have increased, leaving the typical worker with about $1,000 less this year than last.The Conference Board reported last Tuesday consumer confidence in January fell its lowest level in more than a year. The last time consumers were this glum was October 2011, when there was widespread talk of a double-dip recession.The only people doing well are at the top – but they save a large part of what they earn instead of spending it.Overall personal income soared by 8 percent in the final three months of 2012 compared to an increase of just over 2 percent in the third quarter, but this income didn’t go into the pockets of the middle class. It went into the pockets of people at the top.Wages and salaries grew a measly six-tenths of one percent.Most of the rise in personal income in the last quarter was from companies rushing to pay dividends before taxes were hiked in 2013, and from an upturn in personal interest income. Both these sources of income went mostly to the well-to-do.This explains why consumer spending is dropping. The Commerce Department said Thursday consumers’ spending rose 0.2 percent last month. That’s slower than the 0.4 percent increase in November.So if we can’t rely on consumers to stoke the economy, what about government? No chance. Government spending is dropping, too.The major reason the economy contracted between the start of October and end of December 2012 was a major reduction in government spending in the fourth quarter.Government spending has declined in nine of the last ten quarters, but it took a precipitous drop in the last quarter. This was mainly because military spending fell 22.2 percent. That’s the largest fall-off since 1972 (mainly due to reduced spending on the war in Afghanistan, and worries by military contractors about further pending cuts). State and local spending also continued to fall.Personally, I’m glad we’re spending less on the military. It’s the most bloated part of the government. Major cuts are long overdue. But the military is America’s only major jobs program. Cutting the military without increasing spending on roads, bridges, schools, and everything else we need to do simply means fewer jobs.What’s ahead? More of the same. So what possible reason do we have to suspect the recovery will pick up speed? None.Don’t count on consumer spending. Wages and benefits continue to drop for most people, adjusted for inflation. States are hiking sales taxes, which will hit the middle class and the poor hardest. Deficit hawks in Washington are contemplating additional tax hikes on the middle class.Housing prices are stabilizing, thankfully. But one out of five homeowners is still underwater, and the ranks of people renting rather than owning are rising. Health-care costs are also rising for most people in the form of higher co-payments, deductibles, and premiums.Don’t count on government, either. Government spending continues to head downward. The White House has already agreed to major spending cuts, some to go into effect this year. Coming showdowns over the next fiscal cliff, appropriations to fund government operations, and the debt ceiling will likely result in more cuts.More jobs and faster growth should be the most important objectives now. With them, everything else will be easier to achieve – protection against climate change, immigration reform, long-term budget reform. Without them, everything will be harder.Yet we’re moving in the opposite direction – following Europe’s sorry example of failed austerity economics.

  • Guest

    How does Glenn Beck cherry pick the news (history, video, etc) to offer his extremist and deceitful propaganda?

    The stock market is near all time highs.

    U.S. corporations’ after-tax profits have grown by 171 percent under Obama, more than under any president since World War II, and are now at their highest level relative to the size of the economy since the government began keeping records in 1947, according to data compiled by Bloomberg.Profits are more than twice as high as their peak during President Ronald Reagan’s administration and more than 50 percent greater than during the late-1990s Internet boom, measured by the size of the economy.

    If we’re going to reduced unemployment, we need to increase consumption with government spending and/or …  Well, there is no other option.

    Austerity will make things worse. Glenn Beck makes things worse…for the Republicans who keep losing elections thanks, in part, to Beck’s deceitful propaganda against Obama.

    Glenn Beck == Joseph Goebbels. As Goebbels said: “If you tell a lie big enough and keep repeating it, people will eventually come to believe it.“

    Beck’s big lie: “The truth lives here.”

  • Anonymous

    Wednesday: GDP goes negative for the first time since 2009.
    Thursday: A jump of +35,000 in 1st time unemploymnet claims.
    Friday: Unemployment ticks up to 7.9%

    And still some claim this is an improving economy headed in the right direction. How this reminds of the child on Christmas morning digging away while saying, “… with all this horsepoop there must be a pony in here somewhere!”

  • http://pulse.yahoo.com/_X2NAPSXIXUJPOPPGU6CXVFQFLA Snorri Sturluson

    OK! What happens when Uncle Sam’s plantation runs out of money from borrowing, taxes and confiscation? Hyperinflation? Yes. Street riots? No. The U.S. simply collapses into a 2nd world country where the politically connected, the innovative and the criminals can maintain a life style that once was enjoyed by the majority. Of course, liberals will eschew any blame or responsibility; it will be the fault of others. And actually the liberals will be correct because Americans re-elected Obama.

  • http://www.facebook.com/profile.php?id=714590666 Rijnbergen Harold

    the american industries, always looking for profit, put half of their production capacity in china and the rest of asia. Cheap labor is more important than the care for their fellow americans. Patriotism is a word that its hated by the american business men. Globalisation is the word

  • Anonymous

    Be careful with the shallowness of your analyses.  Do you really believe that the dire situation in which the US finds itself would be any different if Romney would have been elected?  The American mythology of deregulated free markets, its civic religion of global laissez-faire, is the prime reason, from the Reagan administration forward, for the unmanageable crises and breakdown of financial institutions with which it is faced today.  The commoditization of labour markets and deregulation of capital mobility necessarily dictates high unemployment, burgeoning inequalities and the breakdown of social cohesion.  Sadly, the ideology of rights and the notion of individual liberty in the economic realm has been turned on its head in the last decades only to hasten the decline of American economic stability.  This has little to do with Democrat or Republican persuasions; it is a much deeper lying and false belief that short-termism and unending wealth accumulation necessarily equal freedom and stability.  By all means blame Obama.  But you might want to add Reagan, Clinton, both Bushes, and, if you have duped into believing the myth of the self-regulating market, then blame yourself as well.  Thoughts?

    • Anonymous


  • Anonymous

    We have to get creative and ideas flowing again.When President Obama’s term is over get someone in there and change things back to way they are suppose to be.Someone who stands for the principles and values America is built on.Government as Ronald Reagan said is the  problem and they need to back off.And thats the memo.Thanks for listening.

  • Elizabeth Bracy

    I predict that Hillary is going to win in 2016. Like it or not, the GOP is now considered the party of old white rich men and they didn’t help themselves by allowing Romney to buy the nomination. How can the GOP ever win another election? Even if the dollar collapses under Obama, he will blame Bush. And the media will support Barry and blame the GOP House.

  • Anonymous

    They keep saying we gave up looking for work when our unemployment benefits ran out.  We didn’t give up.  They just stopped counting us.

  • Jim Scannell

    Two things:  1) Obama and the Democratic party will attempt to change the 2-term limit policy currnetly in place so that Obama can stay in the Presidency for as long as he wants

    2) the subterfuge of “unemployment” numbers has been dishonestly presented for a long, long time.  Doesnt matter if it is a Dem in the White House or a Rep.  They are all a bunch of crooks as far as I am concerned.

    Glenn, if you point out information like this at least say that the deception of true unemployment has been manipulated under virtually every administration for many, many years.

  • Anonymous

    It all started on Bush’s watch..Obamy inherited a bad deal and a divided country sure doesn’t help!

  • landofaahs

    Yes, but Glenn it only cost us an extra $7 TRILLION in new debt.  An the Feds QE has been supporting the Foreign banks of Europe.

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