Unemployment 11.4%

Real Unemployment Rate Is 11.4%
By DICK MORRIS
Published on DickMorris.com on September 8, 2012

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Economist James Fitzgibbon of the Highlander Group says that "If we impute the data samplings of non-working citizens at the labor force rate of January 2009 (when this Obama term began) we would have a Household U-3 Unemployment rate currently of 11.4%."
       
Fitzgibbon notes that the unemployment rate is being held down by 368,000 new people who have dropped out of the labor force.  He says "Labor Force Participation rate, which has fallen sharply to 63.5%, a new 31 year low reading."

Summarizing the data, he writes that the higher unemployment rate "which is much closer to seeming accurate and indicates this economic malaise and decline is worse than the contraction of 1980 - 81."  Grimly, he adds "I remember 1981, it was awful!"
       
So now we see Obama's real program for coping with unemployment:  Discourage people from even looking for work.  Encourage them to leave the labor force and rely on government handouts instead.
       
With almost 90 million working age adults not participating in the labor force, we are close to become a nation that does not work (less than two-thirds of us do), gets entitlements (50% of us do - compared to 30% in 1980), and pays no taxes (50% of us don't pay federal income taxes).
       
A new America -- the America that will emerge if we re-elect Obama.

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About Dick Morris
Dick Morris is well known for his insightful and hard-hitting commentary on the FOXNews channel. With his wife, Eileen McGann, Dick has written 14 books, including 10 NY Times best-sellers. Together they pen almost daily columns for their website www.DickMorris.com, the New York Post, Newsmax, the Hill Magazine and many other publications. Domestically, Morris has handled the winning campaigns of more than 30 Senators and Governors, including President Bill Clinton and Republican Senate Majority Leader Trent Lott. Internationally, he has piloted the successful campaigns of the president or prime minister of Mexico, Colombia, Argentina, Uruguay, Kenya, Hungary, Poland, Taiwan, and Japan.

Morris’ and McGann’s latest book is Screwed!: How Foreign Countries Are Ripping America Off and Plundering Our Economy-and How Our Leaders Help Them Do It.
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