Unemployment Reality

“There are lies, damned lies, and statistics”

1/00 1/2002 1/2004 1/2006 1/2008 1/2010 1/2012

12%

11%

10%

9%

8%

7%

6%

5%

4%

3%

National Unemployment Rate – United States

This is our unemployment rate for thelast ten years. It is accurate and the booksare not cooked, but I’ll explain how it is missingdata later in this presentation.

1/00 1/2002 1/2004 1/2006 1/2008 1/2010 1/2012

12%

11%

10%

9%

8%

7%

6%

5%

4%

3%

National Unemployment Rate – United States

These are the talking points you put in your Facebook post.

Obama takesOffice.

“Losing 500 thousandJobs a month….

“Gaining 200Thousand jobsA month…

1/00 1/2002 1/2004 1/2006 1/2008 1/2010 1/2012

12%

11%

10%

9%

8%

7%

6%

5%

4%

3%

National Unemployment Rate – United States

This is why those talking pointsare bullshit.

Obama takesOffice.

“Losing 500 thousandJobs a month….

“Gaining 200Thousand jobsA month…

Notice the Big StinkingLie in the middle?

1/00 1/2002 1/2004 1/2006 1/2008 1/2010 1/2012

12%

11%

10%

9%

8%

7%

6%

5%

4%

3%

National Unemployment Rate – United States

The people who came up with the talkingpoints picked the number they like.

Obama takesOffice.

And the littleStinking lieAt the end?

So what are the lessons here?

• You can look at any long-term trend, clip out the parts you like, and “prove” anything.

• This is what mathematicians call a “lie”. Really blatant use of this tactic, which this is, is called “a big stinking lie”.

• The reality is that even this unemployment graph ignores the people who stop looking for work. That number is MUCH higher than this graph.

Obama and the Economy

• Obama has been very good for government. He has increased government employment and compensation. These people vote for him.

• Obama has been horrible for business. He has increased regulation and hidden taxation.

• This is “bad” because business pays for government. It is “Killing the Golden Goose.”.

• A few really big companies have hidden this by “playing ball” for government gifts. This is “crony capitalism” where huge corporations get special treatment in return for votes and donations. This is NOT capitalism. This is robbery.

Obama and the Deficit