Believe it or not, the stimulus turned 3 years old last week. In exchange for $1.2 trillion (including interest), liberals said their plan would reduce unemployment to about 6% today. It hasn’t fallen below 8% at any point in the last 36 months. And as more and more people are becoming aware, the official unemployment rate actually excludes unemployed people who have not looked for work in the last month.
The above chart presents another view of the economy, using data from the U.S. Bureau of Labor Statistics. The “labor force participation rate” represents the share of working-age Americans who are currently in the workforce – employed full-time, part-time, or unemployed but actively looking for work.
At just 63.7%, labor force participation has not been this low in 29 years! To put it another way, more than one-third of working-age Americans do not have a job and are not even looking. (Watch Megyn Kelly and Lou Dobbs discuss our chart here.)
We’re told the recession officially ended in 2009. But for far too many people, the recession never really ended at all. That’s why conservatives in the Republican Study Committee are getting behind H.R. 3400, the Jobs Through Growth Act. It ramps up energy production. It fights back against regulation-gone-wild. And it allows you to throw out the old tax code for one that’s simpler, flatter, and fairer.
The past three years have made clear what doesn’t work. Let’s go with what does.
God Bless,
Congressman Jim Jordan
Chairman, Republican Study Committee
2 comments:
and the Republican plan is????
The Republican plan is the Jobs Through Growth Act mentioned and linked in the post, idiot.
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