October 7, 2011, Fairfax, VA—Americans for Limited Government President Bill Wilson today issued the following statement on the latest unemployment numbers from the Bureau of Labor Statistics showing a 9.1 percent rate of joblessness:
"If not for 45,000 telecommunications workers coming off a strike, the Bureau of Labor Statistics would only be reporting a gain of 57,000 new jobs, hardly a cause for joyous celebration. The bottom line is that the amount of people unemployed again increased by 25,000, this time to nearly 14 million, and no amount of funny numbers can obfuscate that fact. The underemployment number — those looking for full-time work but can't find it — was even worse, rising to 25.4 million.
"This marks the longest period of sustained high unemployment since the Great Depression, which marks a catastrophic failure of the Obama and Bernanke 'stimulus' programs. They cannot print and borrow enough money to turn this ship around when the problem is that government has rendered the nation uncompetitive globally with some of the highest corporate tax rates in the world, the most regulations, and whose inflationary policies have increased the cost of doing business.
"To get out of this ditch and create jobs, we must restore America's global competitiveness by decreasing the cost of doing business, reducing the tax and regulatory burdens, and restoring sound money based on price stability. Until then, we will continue to bleed mercilessly."