Blowback from Unemployment is Just Beginning as Democrats Grow Temporary Government Jobs at Expense of Private Sector
Washington- While the nation’s economy has improved modestly, unemployment still increased to 9.9 percent. New Hampshire families know better than to get too excited about the temporary boost, understanding that short term, government-created jobs will only last for so long. As President Obama and his Democrat loyalists like Carol Shea-Porter misleadingly claim that the economy is improving, one of his own economic advisers begs to differ. Former Federal Reserve Chairman Paul Volcker forecasts that the United States will experience a “long period of economic adjustment” as the nation’s jobless recovery drags on.
“‘I am afraid the level of unemployment will be too high for too long,’ Volcker said in the prepared text of a speech yesterday in St. Louis. ‘My characterization of the outlook is a long slog.’”
“‘… Our expansive and expensive program of entitlements simply must be brought under control…Volcker, 82, said the U.S. will require a ‘long period of economic adjustment’…‘Not much of that can be done this year, or even next,’ Volcker said. ‘It is a challenge not just for this Congress and this administration, but for years ahead.’” (Mike Dorning, “Volcker Says U.S. Unemployment Will Be ‘Too High for Too Long’”, Bloomberg, 5/04/2010)
Just recently, the nonpartisan Congressional Budget Office (CBO) warned that those who have lost jobs will face lasting setbacks.
“CBO analysts are forecasting that even when the out-of-work do find jobs, they'll be well behind their peers who stayed employed and will lose out on thousands of dollars of earning potential over their lives. Worse still, the study found that, unlike past recessions, the jobs picture won't improve as quickly this time, meaning more people will feel the pain for longer. The CBO says unemployment will remain above 5 percent for another six years.” (Stephen Dinan, “Jobless likely to feel pain long-term,” Washington Times, 4/30/2010)
According to a new Gallup Poll, because of the Democrats’ big-government policies, the public sector is surpassing the private sector in job growth:
“Gallup's Job Creation Index for April reveals significantly more hiring within the federal government than in the private sector. Both show a substantially more positive picture than state and local governments, where firing far eclipses hiring.”
“By almost a 2-to-1 margin, federal employees say their employer is hiring rather than firing, giving the federal government a relatively robust +18 Job Creation Index for April.” (Frank Newport, “Federal Government Outpaces Private Sector in Job Creation,” Gallup, 4/03/2010)
“Carol Shea-Porter and Washington Democrats have done a great job growing the size of government, but they have failed to create private sector jobs thanks the Obama-Pelosi agenda of reckless spending, higher taxes, and government takeovers,” said NRCC Communications Director Ken Spain. “The nation’s jobless recovery is a direct reflection of an out-of-touch Democrat majority that refuses to listen to struggling middle-class families who are asking: Where are the jobs? Instead of pushing a job-killing, big-government agenda, Shea-Porter and her party leaders need to address the multitude of issues leading to such an unacceptably high unemployment rate. After repeatedly closing the door on New Hampshire families, it looks like Shea-Porter's time in Congress might be up in November.”