Thank you Hillary Rodham Clinton for once again proving that your voter base is dumber than a bag of hair, and that you, Madam Secretary, are as economically illiterate as the current Occupier-in-Chief. When you tell Americans that your economic plan will result in 10,000,000 jobs, created or saved you tell me, these are the underlying messages you convey.
10,000,000 jobs sounds like a lot. It’s a big number. When applied to people it can be visualized. The idea of 10,000,000 jobs compared with say, the population of a major city like Los Angeles or New York City, sounds enormous.
Do the math.
Take 10,000,000 divide it by 48 months-because heaven help us if that screechfest wins the White House we’ve got her for 48 months — and you get around 208,333 jobs per month.
Sound good? Again, it’s a pretty big number and it can be visualized. There are a lot of cities with populations close to that figure –Tacoma, Des Moines, Glendale, Montgomery, Yonkers, to name a few. But 208,333 jobs aren’t enough. Nowhere near.
Most credible economists say that to reduce unemployment by 0.1% per month, a minimum of 250,000 jobs must be created simply to match population growth and the new workers such growth introduces into the economy. As population increases, and it will between now and 2020, more than 250,000 new jobs will have to be created simply to keep unemployment levels where they are right now.
For the record, unemployment right now isn’t the 4.9% figure the media proudly bleated about for July 2016. After Obama was elected for his first term, the media abandoned reporting the Department of Labor’s U-5 and U-6 unemployment statistics because both were and both remain highly unflattering for the Hope-and-Change-Yes-We-Can-Machine. For July 2016, the U-5 (which counts the newly unemployed, the long term or “discouraged” unemployed and “other persons marginally attached to the workforce”) was 6.0% and the U-6 (the U-5 plus those once working full time but now employed part time) was a staggering 9.7.
Hillary’s economic plan is to keep unemployment where it is right now, or to let the numbers tick up again and into double digits (particularly the U-6). Perhaps this is fitting since she’s a Hugo Rafael Chavez wannabe. (How fitting is it she shares his initials?). With any luck, if she’s elected by 2019 her adoring fans will be the first conscripted to work the fields Venezuela-style as the rest of America struggles to get by.