The unemployment rate climbed back up to 8.3 percent in July, which reflects a stagnant economic picture. Even though hiring improved, it wasn't substantial to amount to anything. It didn't make a dent in the unemployment picture. The Labor Department reported after three straight months of dismal job numbers, hiring reached its best level since February, adding 163,000 jobs. The question I have to ask is what type of jobs were added? Were they temporary jobs or permanent jobs? Regardless of how many jobs were added last month, it wasn't substantial to lower the unemployment rate. There are 12.8 million Americans unemployed. In order to lower the unemployment rate substantially, at least 250,000 jobs would need to be added per month. We're not even close to that. The economy added 151,000 jobs a month this year, which is the same pace as last year.
We've had 41 straight months of unemployment around 8.0 or above. That's part of President Obama's agenda to take down capitalism. Why do I say that? Take a look at the legislation that's been passed during the first couple of years during President Obama's administration. One of them was Obamacare or the Affordable Care Act of March 2010. Once the key provisions of Obamacare is implemented in 2014, it will greatly increase the unemployment rate. Employers won't be able to pay the benefits required by the federal government. Another bill passed was Dodd-Frank in 2010. That bill adds more burdensome regulations upon small businesses. Those two bills alone will stifle job growth. Also, President Obama has been pushing for stricter environmental regulations on coal and energy. He's also through executive order limited new offshore drilling. He's also opposed the Keystone XL Pipeline project as well. All the legislation that's been passed is bringing us down the road to socialism at a fast pace. Before too long it will result in fascism, where the government will be controlling every aspect of your lives. If you don't think it's coming, just wait and see.
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