State of The Union: Not So Hot

My first impression of the SOTU was that it was mendacity pure and simple. Here is a prime example that I haven’t heard much comment about:

“In the six months before I took office, we lost nearly 4 million jobs. And we lost another 4 million before our policies were in full effect. Those are the facts.

But so are these. In the last 22 months, businesses have created more than 3 million jobs.”

This crock got a standing ovation. What is wrong? The math. We lost eight million jobs by his own count and replaced three million. We are, by his math, 5 million short and the reps (dems especially) jumped to their feet.

But it is worse: There have been no real new jobs in three years. Why? Because about 140,000 people attempt to enter the job market each month. Three million jobs in 22 months is just enough to cover that number. That is why the employment participation rate is critical and it is bad.

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