Going into the Labor Day weekend, the unemployment rate is 9.1 percent. That makes 31 consecutive months in which the unemployment rate has been above 8 percent — the rate you promised wouldn’t be exceeded if your $814 billion stimulus passed. In fact, the unemployment rate has been above 9 percent in 26 of the last 28 months.
Non-farm payroll employment remains unchanged from July. Worse, the Bureau of Labor Statistics revised the employment numbers for June and July downward by 58,000 jobs. Long-term unemployment is the worst since records have been kept — including the Great Depression.
Unsurprisingly, foreclosures proceed apace. Housing values have plunged by trillions, shedding approximately 25 percent of their overall value during your presidency.
Approximately 2.3 million jobs have disappeared on your watch. Both the employment/population ratio and labor participation rates have shrunk, while federal regulations, spending, and the size and scope of the federal government have exploded.
In your estimation, what has contributed more to success in America: expansive government or individual freedom? If the latter, why have you worked assiduously to promote the former? If the former, why hasn’t your presidency been a raging success?