BizPacReview: Guess who’s hurting most in Obama’s dismal economy?
Three years after “Recovery Summer,” the U.S. economy is heading into another fall with no sign of springing back.
And guess who’s getting hit the hardest? (Here’s a hint, they probably didn’t vote for Mitt Romney.)
According to the U.S. Department of Labor, employers created169,000 jobs in the U.S. in August, which was below expectations, and the number of jobs reported created in June and July were revised downward, from 188,000 to 172,000 in June and a whopping 162,000 to 104,000 in July, according to ABC News.
On the bright side, the unemployment rate dropped from 7.4 percent to 7.3 percent according to the report. But even that wasn’t so bright, since it was mainly because of the number of people dropping out of the work force.
“[T]he share of working-age Americans who were either working or looking for work was at its lowest level since 1978, a time when women were less likely to be participating in the labor force,” the New York Times reported. (Remember that year, it will come up later.)
So the Obama economy’s awful and not getting any better, according to the Labor Department? Who is it getting worse for the most?
Obama’s own voters, according to Thursday’s Wall Street Journal.
Obama won 2012 on the strength of his votes among blacks (93 percent), single women (67 percent), Hispanics (71 percent), young voters (60 percent) and those without a high-school diploma (64 percent) post-high school education, according to the Journal.
Those same groups are the ones whose incomes have dropped the most since Obama took office, the Journal reported: unmarried women, with and without children (7 percent); those under 25 (9.6 percent); Hispanics (4.5 percent); those without post-secondary education (8 percent); and, most of all, Obama’s most slavishly loyal voting bloc, blacks (10.9 percent.)
Now, liberals who are wedded to Obama and his failures can argue that those groups have the lowest incomes even when times are good, and they’d be right. But this is the first time in generations they had to pay so dearly for voting for getting their way.
The same groups went against Bush in 2000 and 2004, but the unemployment rate then was something Obama could only dream about. The same groups went for Clinton in 1992 and 1996, but again, who cared? Clinton was blessed with a Republican Congress and the economy blossomed.
And before Clinton it was the Reagan-America ’80s.
That brings it back to the Jimmy Carter years, a year when a Democrat president, supported by exactly the same groups the current Democrat disaster is supported by, did exactly the same thing to the economy.
“[T]he share of working-age Americans who were either working or looking for work was at its lowest level since 1978,” the New York Times reported.
Since 1978. What a coincidence.
Is anyone – including the Obama voters – really surprised?