Federal Reserve’s Sandra Pianalto: Jobs Recovery Will Take YEARS!

What happened to Obama/Biden’s “Summer of Recovery?” How about that mythical “saved/created” jobs scheme. How about those 500,000 jobs per month promise? Obama is going to be the first president to have a negative job creation asteric beside his name.

(Reuters) – The economy is recovering at a moderate pace but won’t regain full employment for several years, a top Federal Reserve policy maker said on Wednesday.

“With an economy that’s only gradually improving, it’s going to take us several years to achieve that mandate,” Cleveland Fed President Sandra Pianalto said in response to questions after a speech in Lexington, Kentucky.

“We need more growth in order for more jobs to be created and in order for that unemployment rate to come down to that 6 percent rate which I view as maximum employment,” said Pianalto, who is a voting member of the Fed’s policy-setting panel.

Fed Chairman Ben Bernanke said after the U.S. central bank’s most recent policy meeting April 24-25 that monetary policy is in “more or less the right place” but that policymakers would launch another round of bond purchases if the economy were to weaken.

Pianalto said her forecast is for the world’s largest economy to grow at about a 2.5 percent annual growth rate or slightly better this year. Inflation should remain at the Fed’s target of 2 percent for the next couple of years, she added.

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Flashback: “Welcome to the Recovery” (Video)

Democrats tried to repeat this lie of “recovery” so the weak-minded would believe it’s the truth.

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Obama…Why does YOUR Economy suck? Bam blames everything including Tornadoes, Earthquakes, State Budget Cuts and Greece

Failure is Obama. Obama is failure. What was that infamous Obama analogy about putting the car in “D” and how he was driving us out of the ditch?

Typical Obama, instead of taking the blame for his failed policies, he blames everything under the sun.

FoxNation reports:

His hair looking noticeably more gray, President Obama delivered a dreary statement in the Rose Garden this morning after a dismal jobs report, which showed the US economy adding just 18,000 jobs in June, the unemployment rate spiking up to 9.2%. A year after the WH proclaimed “recovery summer,: and two years after a trillion dollar “stimulus” program, the President blamed a series of “headwinds” for what he described as a “rocky” “recovery.” Obama said Greece, natural disasters, high gas prices, state budget cuts and uncertainty about the debt ceiling were prohibiting the economy from creating more jobs, which critics called just more finger-pointing from the White House. “Streamlining the patent process” and new infrastructure spending were a few solutions to the jobs crisis offered by the President this morning, leaving many economists scratching their heads. Looking detached, Mr. Obama plodded back into the White House with his head down, without acknowledging any responsibility for the economy for the struggling economy and appearing to some critics extremely out of touch.

Obama failing to take responsibility. Nothing new here.

Watch the video of Bam’s finger pointing>>>

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Flying Pig Alert: Democrats finally admit this is Obama’s Economy (Video)

It only took a little over 2 years for Democrats to remember that Obama is president and his policies have failed. Obama owned this economy since he and Joe Biden declared it the “summer of recovery” back in 2009.

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Inspector General says all of those “Saved or Created” Stimulus Jobs are “unclear” and “misleading”

Anyone with common sense knew the Obama administration fudge those ‘saved or created’ numbers and used fuzzy math to make the claim that the stimulus worked. You can believe their rhetoric if you just avoid the facts and numbers which prove the stimulus was a failure and any jobs that were ‘saved or created’ were voided by the increase in unemployment.

(CNSNews.com) – The Small Business Administration, which received $730 million under the American Recovery and Reinvestment Act to increase the availability of credit to small businesses, is making claims about the number of “jobs saved” that are “unclear” and “misleading” and which cannot be verified, according to a report issued by the agency’s inspector general.

“The lack of a definition for ‘jobs retained’ and the discrepancy in the forms used to collect job statistics from 7(a) borrowers and lenders has resulted in a performance metric with questionable clarity and transparency,” the inspector general said.

Under the Recovery Act, the SBA is required to report job creation and retention statistics in its monthly Recovery Act Program Performance Report, which is published on its Web site.

Neither of SBA’s two major loan programs, known as the 7(a) program and the 504 loan program, require loan recipients to tell the government whether those loans helped them to create or save jobs, the IG noted. But the banks and financial institutions that loan out the money do require small businesses to state on their loan applications how many employees they have.

From this data, lenders determine the number of jobs created and retained and send the information to SBA. According to the inspector general, however, only one of the programs asks on its application about how many job are to be saved – the 504 program.

“In the 504 loan program, where job creation and retention is a program criteria, applicants are required to report the number of current employees, jobs to be created in the next 2 years, and jobs to be retained because of the loan,” the IG report said.

Garbage numbers in, garbage numbers out. Wonder if this Inspector General will be fired?

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McDonald’s job fair: Hundreds apply for 24 positions

The Summer of Recovery? The recession ended in July 2009? The numbers and stories tell the truth.

ABC-7 reports:

It was easy to see just how tough the economy is as our cameras caught people at a local McDonald’s looking for jobs. Hundreds of people applied Tuesday, and just two-dozen jobs are available.

Inside of a Cape Coral McDonald’s Tuesday, there were more pencils and papers than there were combo meals.

Jessica Robinson is a single mom of two with another on the way. She’s also a student and she was applying to work at the fast food restaurant.

“I’m actually going to school for management, so that would be awesome. But I’ll probably start out as a cashier, whatever they want me to, I’ll take whatever,” she said. “I just need a job.”

And she’s not alone.

Managers there said crowd coming in to apply is becoming more diverse. With a high unemployment rate all across Southwest Florida, places like McDonald’s are a lot more people coming to apply.

“You are seeing applicants that you may not have seen before – people that were used to being in the real estate industry or construction industry or things of that nature,” Tim Frederic, with McDonald’s.

Six Cape Coral McDonald’s restaurants held a hiring day, looking for people from management to crew.

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The Politically Incorrect News for Wednesday September 22nd, 2010

for Politically Incorrect Readers

Some item you may, or may not, have read…

Item #1- NYT: Just a reminder that the Obama recovery has lost more jobs than it created. The numbers continue to prove the summer of recovery is Obama’s ‘Mission Accomplished.’

Item #2- Unemployment rises in 27 states last month. The summer of recovery continues to be a vacation at a really crappy time-share.

Item #3- Iran leader warns US of war with ‘no limits.’ The little midget wants people to forget that Iran fought Iraq for 8 years and it ended in a draw. Why do short guys always have the biggest mouths?

Item #4- Woodward Book Portrays Obama Aides’ Battles. Battles over Obama’s Afghan strategy among other issues. Barry wants an exit strategy while the military wants to win. Cough: Cut and run Democrat.

Item #5- O’Donnell: Coons has made ‘some very anti-American statements’. What else is new? The liberal media doesn’t care. Obama has made anti-American statements.

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CBO: Unemployment Will Stay Above 8 Percent Until 2012

That Summer of Recovery is going to last for another 2 years? The longest summer ever!

CNSNews.com reports:

The Congressional Budget Office is predicting that the national unemployment rate will remain above 8 percent until 2012, the year of the next presidential election.

The unemployment rate was at 7.7 percent in January 2009, when President Barack Obama’s top economic advisers said the economic stimulus package Obama was then proposing would prevent unemployment from rising above 8 percent. Currently, the national unemployment rate is at 9.6 percent. Four years ago, in September 2006, it was at 4.5 percent.

Then the Democrats took control in 2007 and things have went down hill ever since.

“CBO expects that the economic recovery will proceed at a modest pace, leaving the unemployment rate above 8 percent until 2012,” said CBO Director Douglas Elmendorf at a Sept. 16 policy seminar.

Elmendorf said that long-term unemployment was the highest it had been in six decades.

“Weak economic growth has serious social consequences. About 9½ percent of the labor force is officially unemployed, but many other people are underemployed or have left the labor force,” he said. “The incidence of unemployment lasting longer than 26 weeks has been the highest by far in the past 60 years.”

Elmendorf directly addressed the contention that the federal government is out of policy options for dealing with this problem, given the failure of the Recovery Act to hold down unemployment.

The numbers don’t lie. Obama, Biden and the Democrats will continue to lie because most of their followers are weak-minded, uneducated individuals who believe government knows best.

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The Politically Incorrect News for Friday September 17, 2010

for Politically Incorrect Readers

Some items you may, or may not, have read…

Item #1- Income, Poverty and Health Insurance Coverage in the United States: 2009. These numbers prove Obama and Biden are bold-faced liars when claiming this is the Summer of Recovery.

Item #2- Gregg: Warren will promote ‘social justice’ at consumer agency. What else would you expect from an Obama appointee? They all believe in the same ideologies as Obama….spread the wealth, social justice and anti-capitalism.

Item #3- John Kerry bitter as Tea Party gains steam. Now why would a tax-dodging yacht sailor be bitter towards the Tea Party? Tea Party members want to lower taxes while Kerry wants to raise taxes while being the usual tax-evading Democrat.

Item #4- Jimmy Carter Slams Ted Kennedy On Health Care. The Peanut farmer blames dead Ted for killing his health care bill. Ted had a tendency to kill things. The similarities between Obama and Carter are striking. Both love to blame others for their failures.

Item #5- Fox News sues Democratic Senate candidate. Dirty Democrats used Fox footage to make it appear the network endorsed her. The culture of corruption continues with these dirty Democrats.

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The Summer of Recovery continues…Foreclosures UP 25% in 2010

Again, the numbers don’t lie but they do prove our President and Vice-President are liars. Their Summer of Recovery is really a Summer of Wreckovery.

Associated Press reports:

Lenders took back more homes in August than in any month since the start of the U.S. mortgage crisis.

The increase in home repossessions came even as the number of properties entering the foreclosure process slowed for the seventh month in a row, foreclosure listing firm RealtyTrac Inc. said Thursday.

In all, banks repossessed 95,364 properties last month, up 3 percent from July and an increase of 25 percent from August 2009, RealtyTrac said.

August makes the ninth month in a row that the pace of homes lost to foreclosure has increased on an annual basis. The previous high was in May.

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