In our 1983-style unemployment rate:
Americans lucky enough to still have a job are noticing something unpleasant in their paychecks: They’re making less money.
Employers cut 467,000 jobs in June, far more than expected, and the jobless rate hit a 26-year high of 9.5 percent. Just as worrisome, wages shrank to their lowest in nearly a year.
The bleak news Thursday from the Labor Department underscored one of the big threats to an economic turnaround: Rising joblessness and falling wages for those still working could send Americans back into spending hibernation and short-circuit any recovery.
What is really short-circuiting recovery is the fact that Obama is leeching every dollar he can out of the private economy and spreading it around to favored, liberal special interest groups…said groups never being noted for their contributions to GDP. Be that as it may, we’re in quite a pickle…and remember, back in 1983, that was the peak before Reagan’s economic policies cause the largest recovery in history…we’re not even to the bottom of Obamunism yet, and we can’t get anyone Reagan-like this side of 2013.
UPDATE: Unemployment? In effect, its official government policy.
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