LET THE GOOD TIMES ROLL !!

The Congress and the Obama administration are gloating over "162,000 NEW FULL-TIME JOBS" created in the first quarter of this year as "obvious proof" that the Economic Restoration and Recovery Act, also known as "Porkzilla 1," is "working."  Oh, really?  Shall we delve into this pristine pool of information a bit?
Of the jobs "created,"  92,000 (or 70 percent for those of you who learned math in a public school) are in education, and are all taxpayer-supported.  Another 15,000  (9&1/4%)   are in governments, from local to federal, all taxpayer-supported.  No figures on how many were created in the State Employment/Unemployment Offices.
The Harry Reid "good news" is that construction industries LOST another 104,000 full-time jobs this quarter, production jobs lost another 36,000, and financial services laid off  another 58,000 full-time employees.
Now, if you take 198,000 jobs lost in just THREE SECTORS of the economy away from the 162,000 jobs "created or saved" by Spendzilla, you get, let me see here,  a "Negative Gain" of 36,000 jobs, Correct?    Even better news, the country is still employing  nearly 5 million fewer people than just two years ago.
Unless you learned math in D.C.'s parallel-universe bookkeeping system, we're STILL in a receding economy.  And as a bonus, you now get to pick up the tab for healthcare insurance for five or six other people via O'Care taxation. 

How's that "Hopey-Changey" thing workin' out for ya so far?


Source:  Federal Reserve Bank, St. louis