Bloomberg says – well, ne’mine what Bloomberg says, what they MEAN is the revised unemployment numbers that will come out Friday will show America lost 824,000 more jobs than the Bureau of Labor admitted.
This is hardly news to those of us who pay attention. But that still does not take into account the 1,8 million jobs that were not CREATED. Jobs needed to provide employment for those just entering the labor market.
Nor does it take into account the owners of all of the businesses that have gone bust because of policies mandated by Congress since January of 2007.
The most accurate economic barometer is Federal tax collections. Those are down almost 22% in the last 24 months. So the economy is down by that, or perhaps a bit greater, percentage.
Tell me again how many jobs Porkulus has “saved or created,” will you.