The New Economic Reality

Now that the Syria issue has been resolved—I mean, what could go wrong with Russia and the UN now involved?—perhaps we should turn our attention back to other matters. Congress is planning more hearings on the scandals that plague this administration; Benghazi is making a comeback, as well it should. Obamacare is rumored to begin running in October with the inauguration of state exchanges. Never mind that hardly any state is prepared for this and that the law is falling apart on its own. The push to defund this monstrosity is gaining ground.

Then there’s the economy, which the administration continues to try to spin as a “recovery.” Look at the numbers, they say—the unemployment rate is now down to 7.3%. Yes, let’s look at those numbers, carefully. What they would like to hide—and the media provides them the cover they need—is that the only reason the unemployment rate is dropping is because more people than ever have given up seeking a job and are no longer counted as part of the workforce. Our labor market is now at the lowest ebb since the Carter years. Do we really want to repeat that history?

Jobless Rate Fell

If the labor market were at the same level as when Obama took office, the umemployment rate would stand closer to 11% right now. But wait, there’s more.

What they—the administration and the media—also want to hide is that the majority of jobs being created are now part-time. A major factor in this is the threat of that looming Obamacare. Employers, seeing economic armageddon for themselves in the Obamacare requirements, are reducing the number of full-time workers to a minimum. The traditional job market, in which a person enters with a lower-rung, part-time job and works his way up to full-time, is now turned on its head:

Employment Cycle

This has become the new reality, and it’s not pretty. There’s only one way out of this:

 Turn Right

But that’s going to be up to the voters. Have they learned their lesson?