Chart o’ the day: economic hope ‘n change UPDATED

Hmm.  Guess it’s a difficult to argue that the Republicans are the job killers, isn’t it?

H/T: RedState.  Source for the numbers: “a spreadsheet taken yesterday from the Bureau of Labor Statistics website. Republican period: January 1995-December 2006. Democrat period: January 2007-June 2010.”

More economic fun: why should anyone work if he doesn’t have to?  From the WSJ:

Management Recruiters of Sacramento, Calif., says it recently had a tough time filling six engineering positions at an Oregon manufacturer paying $60,000 a year—and suspects long-term jobless benefits were part of the hitch.

“We called several engineers that were unemployed,” says Karl Dinse, a managing partner at the recruiting firm. “They said, nah, you know, if it were paying $80,000 I’d think about it.” Some candidates suggested he call them back when their benefits were scheduled to run out, he says.

I tried to find a clip of Obama emphasizing something I heard on the radio yesterday–that everyone who wants a job should have one.  I guess the key word in his mind is “wants.”  Gotta love those long-term unemployment bennies. 

From none other than the Left’s favorite economist, Paul Krugman:

Everyone agrees that really generous unemployment benefits, by reducing the incentive to seek jobs, can raise the NAIRU” [the minimum rate of unemployment consistent with a stable inflation rate].

Click over to Michelle Malkin who assiduously documents the unemployment “debate” and the effects of endless benefit extensions on the economy.

More bad news: Small businesses losing steam.  Ed Morrissey points out that small businesses are the cornerstone of our economy:

Small businesses (those with 19 employees or fewer) account for one-sixth of American jobs, but this year they have accounted for one-third of all new jobs.  If small businesses stop opening new positions and hold off on expansion, larger companies probably won’t pick up the slack.  It’s a recipe for stagnation in employment.

Part of the issue is credit.  Small businesses can’t get loans very easily these days, and most expansion requires bridge loans to make investments ahead of the increased revenue predicted.  But part of it is also costs — and with Congress debating a bill that will significantly increase energy costs and businesses looking at the additional burdens of ObamaCare, they’re not terribly eager to add personnel in the midst of uncertainty.

More on the climate for small business from Wayne Allen Root, who rightly calls Barack “the great jobs killer” (though Nancy and Harry should share the title):

You won’t find proof of the damage Obama is doing on Wall Street, but rather on Main Street. My friends are all part of the economic engine of America: Small business. Small business creates 75 percent of new jobs (and a majority of all jobs). I called one friend who was a wealthy restaurant owner. He says business is off by 60 percent. He’s drowning in debt. He won’t last much longer. His wealth is gone.

I called another friend in the business of home improvement. He says business is off 90 percent from two years ago. My contractor just filed personal bankruptcy. She won’t be building any more homes. The hair salon where I’ve had my hair cut for years closed earlier this year. Bankrupt. But here’s the clincher — ESPN Zone just closed all their restaurants across the country. If they can’t make it selling cheap food and overpriced beer with 100 big screens blaring every sporting event on the planet to a sports-crazed society, we are all in deep, deep trouble.

I’ve polled all my friends who own small businesses — many of them in the Internet and high-tech fields. They all agree that in this new Obama world of high business taxes, income taxes, payroll taxes, capital gains taxes, and workers compensation taxes, the key to success is to avoid employees. The only way to survive as a business owner today is by keeping the payroll very low and by hiring only independent contractors or part-time employees provided by temp agencies.

Ouch.  Best way to stay is business is to avoid hiring new employees.  Friends with small businesses echo those sentiments.

More hope and change:  Labor Department estimates $7 BILLION in unemployment OVERPAYMENTS.  ‘Cause that free Obama money grows on trees in Obama’s back yard, ya know.

(Maybe this is why 55% of likely voters now think “socialist” is an accurate label for Obama?)

(Just a thought).

UPDATES: Backyard Conservative calls the chart “ugly” and has a winner of a BO quote. 

Rich folks walk away from their mortgages in droves.  Think your home has devalued now?  Just wait until someone snaps up that mega-mansion for what you paid for your modest home!  To say the very least: this won’t help.  

H/T: Memeorandum.

Rahm Emanuel, in his “let them eat cake” moment, says “businesses should thank” the WH for the “supportive” aspects of policy.   ROTFL.

H/T: Memeorandum.

AJ Strata has more (as always) here and here.


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