CBO: Real unemployment at 15%

From the Congressional Budget Office report,
Understanding and Responding to Persistently High Unemployment, February 2012, (h/t Big Government)

United States is experiencing the longest stretch of high unemployment since the Great Depression

How bad?

Many people would like to work but have not searched for a job in the past four weeks, or are working part-time but would prefer full-time work. If those people were counted among the unemployed, the unemployment rate in January 2012 would have been about 15 percent.

Since High Real Unemployment Data Reflect Poorly On Obama, the Brokest Nation In History Fusses Instead About Sex, as Mark Steyn points out (h/t Instapundit):

Just to emphasize, this isn’t the doom-laden dystopian fancy of a right-wing apocalyptic loon like me; it’s the official Oval Office version of where America’s headed.

Additionally,

And, as Chart 5-1 on page 58 of the official Obama budget “Analytical Perspectives” makes plain, your feckless, decadent rulers have no plans to do anything about it.

Timothy Geithner, Secretary of the Treasury, actually said,

on behalf of the Obama White House, to Rep. Paul Ryan: “You are right to say we’re not coming before you today to say ‘we have a definitive solution to that long term problem.’ What we do know is, we don’t like yours.”

Hear him say it,

Back to Mark Steyn,

Instead, the Democrats shriek, ooh, Republican prudes who can’t get any action want to shut down your sex life! According to CBO projections, by midcentury mere interest payments on the debt will exceed federal revenues.

For purposes of comparison, by 1788 Louis XVI’s government in France was spending a mere 60% of revenues on debt service, and we know how that worked out for His Majesty shortly thereafter.

Meanwhile, a post-menopausal Andrea Mitchell is scandalized over a very old joke.

Mitchell, married to former chairman of the Federal Reserve Bank Alan Greenspan, apparently can’t take her mind off sex long enough to peruse the real scandal.

With real unemployment at 15%, and gasoline prices expected to rise above $4.50/gallon by Memorial Day, you can’t help but wonder what distraction the media is going to concoct next.


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