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Obama Jobs Deficit: 13 Million


Location: Washington, DC

On Friday morning the Bureau of Labor Statistics announced that the unemployment rate for May 2012 was 8.2 percent. Congressman Tim Huelskamp of Kansas issued the following statement about the new numbers:

"Another day, another disappointing jobs report," Congressman Huelskamp said.

"A $1 trillion-plus stimulus was supposed to keep unemployment below 8 percent, yet here we are 40 months later and have yet to see unemployment dip below that level. If the Obama Administration's promises and economic forecasts had been accurate, then America should have about 13 million more jobs than it does now. 'Experts' in the Obama Administration said that with the stimulus, unemployment should be roughly 5.7 percent in approaching the third quarter of 2012; without it, approaching 6 percent. Not only were their estimates wrong, but because of their anti-prosperity efforts, America is in worse shape."

"Unemployment demonstrates the failure of Obamanomics," Huelskamp said. "While the overall rate remains above 8.2 percent, the fewest number of people are working in 32 years, half of recent college graduate are underemployed or unemployed, and it takes a record 39.7 weeks on average for unemployed Americans to find a job in the Obama economy."

"How Washington decides to behave in the coming months will have a large impact on whether America recovers or whether she falters. If Congress and the President ignore the ominous tax cliff at the end of the year - the expiration of the Bush-Obama tax cuts - then we are doomed. But if the President and Congress finally act with fiscal responsibility by cutting spending and overhauling our tax code - then we'll have a shot at survival."

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