Wednesday, August 3, 2011
© Copyright 2014
According to the Bureau of Labor Statistics, 1.9 million more people are out of work since Rep. Bishop and President Obama passed their stimulus bill. We were told that its passage would hold unemployment below 8 percent. Worse than the general level of unemployment is what has happened to black unemployment levels.
The day President Obama took office, black unemployment was 12.6 percent. Today it is 16.2 percent. Unemployment for black teenagers is a staggering 40 percent.
The overall unemployment rate has risen 1.5 percent since Obama took office, but the rate of unemployment for blacks is 3.6 percent higher. The gap between overall unemployment and black unemployment has widened from 5 percent to 7.1 percent.
The Stimulus Bill cost about $800,000,000,000. We were told this money would be used for infrastructure and would provide jobs. How many people do you know who actually got a real job working on infrastructure? How many politically connected organizations and causes do you think got a share of that money? Billions were used to pay state workers. What happened to the taxes we had already paid for their salaries?
This is borrowed money that our children, grandchildren and great-grandchildren, black and white, must repay with interest. We are seeing the beginnings of what "social justice" really means to the common people and how the political class, government employees and their political cronies benefit from the plunder of our children's future.