Today the government announced job data for February: the "official" unemployment rate is 8.1%. We've been through this rigmarole before: that's the index called "U3", but the government's broadest measure of unemployment/underemployment (called "U6") is 14.8% (or 16% if you use the number "unadjusted" by season).
Of course, John Williams of ShadowStats will have none of our government's lying. He corrects these figures for phony adjustments, adds back in the millions of very long-term unemployed about whom our government doesn't even care any more, and arrives at an appalling 19.1% unemployment/underemployment rate for our country. That's more than 1 out of 6 Americans out of work, and layoffs are now averaging 20,000 per day with no sign of tapering off.
The desperate situation and the futile, stupid attempts by the federal government to deal with the crisis are finally dawning even on liberals as evidenced in the article by David Lindorff of CounterPunch below. Unfortunately reality has yet to dawn on Mr. Obama, who said today that he is sure that he did the right thing with his colossal "stimulus" bill, with more "stimulus" to come. Reality judges otherwise; hence the growing despair of liberals. Too bad that the liberal savants didn't get their act together before the election.
Read it here
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