Reaganomics is the Only Answer

[Geee]

American Spectator:

The extended stagnation of the American economy is starting to look more and more like a depression. Obama is on track to put the Great in that Depression with what he has already enacted into law for 2013, unless the American people reverse course next year.
At no point in the last 70 years, going back to the Great Depression, has the American economy suffered unemployment this high for this long, or such extended stagnation without a rebound or recovery. The American economy simply does not lie flat on its back for years and years like this, except during a time of depression. Even in the 1970s, the economy persistently rebounded after four worsening recession cycles.

According to the historical record in America, deeper downturns yield stronger recoveries. Based on this precedent, America should be in the second year of a booming recovery by now. So what’s the holdup?

The Failure of Keynesian Economics

President Obama had the chance to guide America to at least a typical recovery. But his retrograde Keynesian, neo-socialist policies have prevented any real recovery at all.

Last Friday's unemployment report showed that 3 ½ years after the last recession started, still virtually no new jobs were being created, and unemployment was persistently rising again. Since the Great Depression, recessions in America have lasted an average of 10 months, with the longest previously being 16 months. But in June, 42 months after the last recession began, unemployment rose again to 9.2%.

The Depression has already arrived for African-Americans, with unemployment at 16.2% persisting for two years now. The same is true for Hispanics, with long-term double-digit unemployment persisting at 11.6%.

A pitiful 18,000 jobs were supposedly created in June, in a nation of 300 million people. But it’s worse than that. 54,000 jobs supposedly created in May, but then that figure was revised downward to 25,000. Without that revision for May, Friday’s labor report would have shown a decline of 26,000 jobs last month, as reported by John Crudele in the New York Post on July 9. Crudele adds that the June labor report includes an estimated 131,000 jobs that were supposedly created by companies that can’t be identified, which will probably be removed as well in subsequent labor reports.