32 Years from Full-Employment

– By: Larry Walker, Jr. –

In the fairest sense, the U.S. Jobs Deficit has improved by an average of 30,000 jobs per month since January 1, 2011. And although this may be good enough for indifferent Obama loyalists, what it really means is that based on Barack Obama’s very best job creation averages to date, full employment is still another 32 years away. Based on yesterday’s Employment Situation Report, 171,000 nonfarm jobs were added in the month of October. However, since the U.S. needs to add a minimum of 320,850 jobs each and every month for the next 60 months in order to return to full-employment, October’s result fell short of the mark by 149,850.

When the entire Obama record is analyzed, it turns out that U.S. employers have only added a total of 194,000 nonfarm jobs since February 1, 2009 (133,755,000 – 133,561,000). The jobs deficit has increased by 5,521,000 during Barack Obama’s 45-month term, from 6,110,000 on January 31, 2009 to 11,631,000 on October 31, 2012. The average number of nonfarm jobs created on a monthly basis in 2012 is 157,000, which is ironically the same as in 2011. In contrast, the average number of jobs created in 2010 was 86,000, compared to an average loss of (422,000) per month in 2009.

So an average of 157,000 jobs a month, over the past 22 months, is the best that Barack Obama’s policies have been able to accomplish. This may sound great to some folks, but since 127,000 new jobs are required each and every month just to keep pace with population growth, what it really means is that we are clearly locked on a trajectory that chips away at the present 11,631,000 jobs deficit by a mere 30,000 jobs per month. So what does this mean in plain English? In other words, how many jobs must the U.S. create each and every month going forward in order to reach full-employment, and how long will it take?

Updated Jobs Benchmark

Updating Paul Krugman’s original benchmark with the latest figures, we discover that to be meaningful, the number of jobs needed to return to more or less full employment by December of 2014 (the original target date), or within the next 26 months, is now 574,346 jobs a month, as follows:

In order to keep up with population growth, we would need to create 127,000 jobs times 26 months, or 3,302,000. Add in the need to make up for the jobs deficit and we’re at around 14,933,000 (3,302,000 + 11,631,000) over the next 26 months — or 574,346 jobs a month.

But since that’s never going to happen under the countermanding policies of Barack Obama, we are forced to extend the time frame. However, even when we extend the target date to 5 years from today, which will be more than 8 years from the time the recession ended, the number of jobs needed to return to more or less full employment by October of 2017, or within the next 60 months, is now 320,850 jobs a month, as follows:

In order to keep up with population growth, we would need to create 127,000 jobs times 60 months, or 7,620,000. Add in the need to make up for the jobs deficit and we’re at around 19,251,000 (7,620,000 + 11,631,000) over the next 60 months — or 320,850 jobs a month.

Did the U.S. add 574,346 jobs last month? No. Did we add 320,850? No. In fact, according to the Bureau of Labor Statistics, the U.S. has only added 194,000 nonfarm jobs since Obama took office (i.e. February 1, 2009) (see related table). So what does that tell you? It tells me that Barack Obama’s economic policies have failed miserably. He’s the one who said, “If I don’t have this done in three years, then there’s going to be a one-term proposition.” So don’t blame conservatives and independents when the earth slides from under his feet on Tuesday.

Fair Enough?

In the fairest sense, when we average the number of jobs created over the last 10 months, we arrive at 157,000 a month. And when we average the number created in 2011 we ironically get 157,000 as well. Do the math. So in other words, there has not been any improvement this year over last year. So we’re not moving forward after all, we’re stuck in neutral. And since we know that it takes a minimum of 127,000 jobs a month just to keep up with population growth, we are only chipping away at the 11,631,000 jobs deficit by 30,000 jobs a month (157,000 – 127,000). Thus, on the current trajectory, full-employment is roughly 388 months — or 32 years away.

[For the mathematically challenged, take the jobs deficit of 11,631,000 and divide it by the twenty-two month average improvement of 30,000, and you get 388 months. Now divide 388 months by 12 and you get 32 years.]

So four more years of Obama’s trickle-down-government approach places us on the track to reach full-employment by around the year 2044. And that’s giving him the benefit of the highest job creation averages achieved during his entire presidency. I’ll be 84 years old by then, and my one year old twin granddaughters will be 33. I’m sorry, but no matter how you spin the numbers, Barack Obama isn’t worthy of a second term.

Until the number of Nonfarm jobs is expanding by a minimum of 320,850 a month for a sustained period of at least five years, anything short is bad news. The Romney-Ryan Team is the only one on the ballot with a plan targeted to come anywhere close to what’s needed. Aside from that, with the national debt already beginning its ascent towards $20 trillion, with 25 million Americans unemployed or underemployed, with the Federal Reserve devaluing our currency by printing money to purchase mortgage-backed debt on an unlimited basis, with our tax and regulatory structure mired in uncertainty, with a foreign policy meltdown, and with the price of gasoline hovering above $3.25 for a record 86 consecutive weeks, there is absolutely, positively, no reason to consider a second Obama term. None!

[Note: Paul Krugman and other left-wing cronies are now trying to push the idea that, since July 2011 only 90,000 jobs have been required to keep up with population growth. “The number used to be higher, but baby boomers are getting old — the same thing that affects the household survey.” However, even if such a radical 30% shift had occurred within the last four years, it would only alter the current jobs deficit by a diminimus amount — 592,000 jobs, from 11,631,000 to 11,039,000, so phooey! There’s no turning back now, we’re sticking with the original benchmark which Mr. Krugman laid out in December of 2009.]

Data:

Worksheet on Google Drive

25 More Terms

– By: Larry Walker, Jr. –

Forget about four more years. Based on the USA’s current trajectory, it would take another 25 terms, or 98 years, for Barack Obama’s bizarre economic policies to restore the U.S. Labor Force to where it should be in the next four years, when compared to the growth rates achieved under the policies of George W. Bush. And then once that’s been achieved, based on the trajectory of the USA’s 11,832,000 Jobs Deficit, it will take something on the order of infinity to reach full-employment. So what’s the point of another Obama term, to fundamentally destroy the Global economy?

Earlier this month micro-journalists were roused over the fact that 368,000 additional workers dropped out of the labor force during the month of August. For the first time many were awakened to the fact that this was the only reason the official unemployment rate declined from 8.3% to 8.1%, but that’s about as far as they ventured. A handful went on to extrapolate that the real unemployment rate is actually 11.2% when based on the same labor force participation rate in place when Obama entered office, but hindsight is 20/20. A more substantive analysis would involve utilizing this information in order to project where we are headed.

Backwards

Last Friday, Egan-Jones Ratings Co. downgraded its U.S. sovereign rating to AA- from AA on concerns that the Fed’s new round of quantitative easing, or QE3, will hurt the U.S. economy. The ratings agency said the Fed’s plan of buying $40 billion in mortgage-backed securities a month and keeping interest rates near zero does little to raise GDP, reduces the value of the dollar, and raises the price of commodities. In a note Egan-Jones said, “From 2006 to present, the US’s debt to GDP rose from 66% to 104% and will probably rise to 110% a year from today under current circumstances; the annual budget deficit is 8%. In comparison, Spain has a debt to GDP of 68.5% and an annual budget deficit of 8.5%.”

Topping this, according to the Economic Cycle Research Institute, the federal government’s release of overstated preliminary data is obscuring real-time evidence of recession. For example, the Obama Administration is purposefully overstating preliminary labor statistics in order to give a boost to his re-election bid, but this is a dangerous practice, because by the time economists are able to determine that we are in recession, it will be too late to issue a warning. In contrast, under the Bush Administration preliminary statistics were typically understated, and thus we had warning several month’s prior to the Great Recession.

Based on the August Employment Situation Report, the economy added a mere 96,000 jobs, while June and July’s numbers were revised downward by 41,000. Thus, the U.S. realized a net gain of just 55,000 Nonfarm jobs in the month of August. But micro-journalists ran with the 96,000 figure, basically ignoring a history of 42 consecutive months of subsequent downward revisions, as though this figure won’t also be revised downward next month. Nevertheless, since the economy needs to create 127,000 jobs a month just to keep up with population growth, the result led to an increase in the jobs deficit, which currently stands at 11,832,000.

As outlined in the last post, U.S. Jobs Deficit Increases by 72,000 in August, to be meaningful, the number of jobs needed to return to more or less full employment by December 2014, or within the next 28 months, is now 549,571 jobs a month. And even if we extend the target date to 5 years from today, which will be more than 8 years from the time the recession ended, the number of jobs needed to return to more or less full employment by August 2017, or within the next 60 months, is now 324,200 jobs a month. So even though micro-journalists ignored the fact that only 55,000 jobs were added in August, and instead sought to convince the public that 96,000 were added, it really doesn’t matter. What should be made clear is the point that we will never reach full-employment at the current trajectory.

Labor Force Stagnation

According the Bureau of Labor Statistics, the labor force grew by 10,436,000 during George W. Bush’s term, which encompassed two recessions (see chart below). During the first recession, which lasted from March 2001 to November 2001, the labor force grew by 539,000. And even during the first 13 months of the Great Recession (end of the Bush term), from December 2007 through January 2009, the labor force continued to expand by 401,000. In contrast, during Barack Obama’s full term to-date, the labor force has grown by a mere 409,000. In other words during Obama’s entire term the labor force has grown at a recession pace.

Even worse, the Great Recession ended in June 2009, yet from July 2009 to August 2012 the labor force actually shrank by 85,000. This means that, under the policies of Barack Obama, the U.S. labor force has performed worse than during the most recent recessions – way worse. Thus, the economy is not growing, it’s shrinking. So what about that?

• Labor Force Growth During Bush Term (+)10,436,000

• Annual Labor Force Growth Rate During Bush Term 0.907%

• Labor Force Growth During Obama Term (+)409,000

• Annual Labor Force Growth Rate During Obama Term 0.076%

• Labor Force Contraction Since June 2009 (-)85,000

The Labor Force grew at an annual rate of 0.907% during both Bush terms, which is close to the rate of population growth, while annual growth has been almost immeasurable during Obama’s term, at just 0.076%. So what does this mean? It means that under Barack Obama’s trickle-down-government, borrow-and-spend economic policies, and based on the USA’s current trajectory, it will take approximately 25 more terms (98.1 years) for the labor force to grow to where it should be in the next four years. So perhaps instead of crying “four more years,” Obama loyalists should be shouting “98 more years,” because four more just won’t cut it.

Aside from the Constitution, the only other problem with anointing Barack Obama as our first Dictator is that even if all 7,031,000 Americans who have dropped out of the labor force during his term, those who still want jobs now, suddenly decided to return to the labor market, there’s no guarantee they would find work, because of the Jobs Deficit which currently stands at 11,832,000. In fact, based on the USA’s current trajectory, it will take something on the order of infinity to reach full-employment. Thus, hardcore Obama loyalists might as well be shouting, “Obama forever”.

But fortunately, most of us don’t have forever to wait, which is precisely why we need to end this ridiculous charade right now. There’s only one Plan on the ballot this November, and only one man capable of turning things around. And by turning things around, no, I don’t mean going back to the same policies which caused the last recession. That would be lame. I mean returning our government to some semblance of honesty and integrity. A POTUS who ignores his own jobs council, and then inundates the nation with lies and distortions, while concealing the truth about the economy, isn’t a problem solver; he is the problem of our day, the present, right now, today.

The first step in repairing the Republic is to vote this deceiver out of office. The second step involves hiring a turnaround guy, someone who doesn’t know how to fail, and then trusting in God to help him get us back on the right track.

Data: Worksheet on Google Drive

Obama’s Cure – More Jokes

– By: Larry Walker, Jr. –

The U.S. Jobs Deficit increased by 72,000 in August, rising from a deficit of 11,760,000 in July to 11,832,000, based on Friday’s Employment Situation Report. The economy added a mere 96,000 jobs in August, while June and July’s numbers were revised downward by 41,000. Thus, the U.S. realized a net gain of 55,000 Nonfarm jobs in the month of August. But since the economy needs to create 127,000 jobs a month in order to keep up with population growth, this resulted in an overall increase to the jobs deficit of 72,000, as compared to the previous report.

Having been informed of the news prior to his DNC acceptance speech, that the hopes and dreams of another 72,000 Americans had been decimated, along with those of an estimated 27 million who were already unemployed or underemployed, Barack Obama slid into his quotidian comedy routine, ridiculing conservative economic policies, stating that, “They want your vote, but they don’t want you to know their plan. And that’s because all they have to offer is the same prescription they’ve had for the last thirty years: ‘Have a surplus? Try a tax cut.’ ‘Deficit too high? Try another.’ ‘Feel a cold coming on? Take two tax cuts, roll back some regulations, and call us in the morning!’”

Here’s the big picture. We had a recession which lasted for the last 12 month’s of the Bush term through the first 6 month’s of Obama’s, not for the last 30 years. Today 12,544,000 Americans are counted as officially unemployed. Another 7,031,000 are unemployed and want jobs, but have dropped out of the labor force and are thus not officially counted. And still another 8,031,000 are employed part-time for economic reasons. The truth is that if Barack Obama’s government-down, borrow-and-spend policies worked, then the jobs deficit wouldn’t be worse-off today than it was in December 2009, yet it is. So enough with the jokes, how many jobs need to be created each month in order to reach full-employment, and how long will it take? And in light of the answer, is four more years of Obama’s deficit spending and light-mindedness the cure?

Obama Got Jokes

No Mr. President, it’s not a surplus, or a cold that we feel coming on, it’s something much more fatal. You see, the U.S. National Debt surpassed the $16 trillion mark before Obama took to the podium. And why is this problematic? Well for one, the USA’s credit rating was already downgraded once on Obama’s watch, on August 5, 2011, the first such occurrence in American history. And secondly, because Barack Obama’s prescription for all that ails our economy is the same one he’s offered for the last 4 years: ‘Debt too high? Borrow and spend some more.’ ‘Entitlement spending bankrupting the nation? Add a new entitlement (Obamacare), then borrow and spend even more.’ ‘Job creation numbers insufficient? Tell more jokes, then borrow and spend a little bit more.’

Yet while Barack Obama has elected to waste the last four years of our lives running up the national debt, while capping on conservative economic policies, the U.S. jobs deficit has increased from 5,165,000 in December 2008 to 11,832,000, an increase of 6,667,000 (see chart below). Essentially, what this means is that since Obama implemented his $831 billion Stimulus plan, the economy has been unable to create a sufficient number of jobs for 6,667,000 new entrants, many of whom have been ushered straight out of high school or college into hopelessness and generational dependency. Do you think this is funny? I don’t. Exactly where have four years of Barack Obama’s borrow-and-spend prescription refills landed us?

Updated Jobs Benchmark

Updating Economist Paul Krugman’s job creation benchmark with the latest figures, we discover that to be meaningful, the number of jobs needed to return to more or less full employment by December of 2014, or within the next 28 months, is now 549,571 jobs a month, as follows:

• In order to keep up with population growth, we would need to create 127,000 jobs times 28 months, or 3,556,000. Add in the need to make up for the jobs deficit and we’re at around 15,388,000 (3,556,000 + 11,832,000) over the next 28 months — or 549,571 jobs a month.

If we extend the target date to 5 years from today, which will be more than 8 years from the time the recession ended, then the number of jobs needed to return to more or less full employment by August of 2017, or within the next 60 months, is now 324,200 jobs a month, as follows:

• In order to keep up with population growth, we would need to create 127,000 jobs times 60 months, or 7,620,000. Add in the need to make up for the jobs deficit and we’re at around 19,452,000 (7,620,000 + 11,832,000) over the next 60 months — or 324,200 jobs a month.

Did the U.S. add 549,571 jobs last month? Nope. In fact we haven’t come anywhere close in any month during the entire Obama recovery. Did employers add 324,200 jobs last month? Nope. In fact, we haven’t even come close to this number in any month during the entire Obama recovery, except for the single month of May 2010, but those were just temporary Census jobs that went away in subsequent months (see the related table).

The sad truth is that the U.S. only added 55,000 Nonfarm jobs in August (+96,000 minus 41,000 of previous overstatements). And because the jobs deficit increased by 72,000, we are currently on track towards a permanent decline. In other words, it is impossible to reach full-employment while the jobs deficit is increasing. Thus, we are NOT moving in the right direction, we are moving towards another recession. We have wasted 44 months coping with the unreasonable economic policies of Barack Obama, and what did we get in return? We are worse off today than before he started.

Incomplete or Deficient?

At this point, we either need to create 549,571 jobs each and every month to be on a track towards full employment within the next 28 months, or 324,200 jobs each and every month to be on track towards full employment within the next 5 years (which will be more than 8 years from the end of the recession). And although Barack Obama has orated a plan which would add 600,000 new jobs in Natural Gas by 2020 (or over the next 8 years), and 1,000,000 new Manufacturing jobs over the next four years, we are forced to give his plan a grade of “D” for deficient. Under Obama’s government-down, borrow-and-spend economic policies, most of us will indeed be in “a better place” by the time the U.S. reaches full-employment.

A lot of my friends, neighbors, and clients lost their jobs, lost their homes, divorced or filed for bankruptcy over the last 3 years and eight months. My neighborhood has been decimated, as our homes have lost a third of their value. Our business revenues have declined and leveled off at a lower tier. And as far as I can see, only one political party offers any hope of turning things around. The Obama-Biden plan includes a goal of creating 1,000,000 new manufacturing jobs over the next four years, which would be great, because their policies have thus far resulted in a loss of 582,000 manufacturing jobs since January 2009. In stark contrast, the Romney-Ryan Plan includes a goal of creating more than 12,000,000 jobs in the next four years, which is entirely doable.

I don’t care what the policies are as long as they lead to the desired result. The Obama-Biden goal is deficient. Even if the plan works, it won’t result in a sufficient number of new jobs to even keep pace with population growth (127,000 a month / 1,524,000 per year). In fact, Obama has set the bar so low that his plan is incapable of eliminating the jobs deficit, even if granted a second term. So what’s the point? Based on our current trajectory, Obama’s plan never comes close to full-employment, ever.

If you think that adding $5.3 trillion to the national debt over four years, establishing a goal of 1,000,000 new jobs when more than 12,000,000 are needed, and sprinkling it over with meaningless ramblings of a far-left gagman is a plan, then you might need to get your head examined. But if the cure for what ails America today really does involve reducing the growth of government spending, reducing income taxes and capital gains taxes, reducing the number of government regulations, and creating more than 12,000,000 new jobs in the next four years, and you reject it in favor of the former, then God help us all. If you’re still sane after filtering through all the nonsense, then you know what you have to do. Vote for the Plan, there’s only one.

Data: Worksheet on Google Drive

Break Out the Fairy Dust –

“The largest single barrier to full employment of our manpower and resources and to a higher rate of economic growth is the unrealistically heavy drag of federal income taxes on private purchasing power, initiative and incentive.” ~ John F. Kennedy, Jan. 24, 1963, special message to Congress on tax reduction and reform

– By: Larry Walker, Jr. –

The U.S. Jobs Deficit declined by 30,000 in July, falling from 11,790,000 in June, to 11,760,000, based on yesterday’s Employment Situation Report. While May’s number was revised upward by 10,000, and June’s number was revised downward by 16,000, the economy added a mere 163,000 jobs in July. And since we need to create 127,000 jobs a month, just to keep up with population growth, this resulted in an overall decline in the jobs deficit of 30,000 compared to the month prior (see chart below).

Emboldened by the 30,000 net improvement to the jobs deficit, Barack Obama ridiculed Mitt Romney’s economic plan, stating that, ‘the idea that tax cuts would pay for themselves by way of a “massive boom in the economy” is “fairy dust” that the GOP has “tried to sell” in the past and hasn’t worked.’ But what’s ironic is that even July’s tiny increase in jobs can be attributed to nothing more than traces of fairy dust leftover from the Bush Tax Cuts of 2003. To state otherwise, would infer that allowing the Bush Tax Cuts to expire would have yielded a better result, and surely not even Obama believes that one.

According to U.C. Berkley Professor and President Obama’s former Chair of his Council of Economic Advisers (CEA), Christina Romer, in a paper published in 2010, a tax increase of 1.0% of GDP, reduces output over the next three years by nearly 3.0%. I would add that a decline of 3.0% in output equates to a loss of around 12.7 million jobs. So does it take a rocket scientist to understand that a tax cut of 1.0% of GDP would have the opposite effect, increasing output over the next three years by nearly 3.0%, and adding around 12.7 million jobs? Call it voodoo, fairy dust, Reaganomics, supply-side economics or whatever you wish, but it’s really just common sense.

“Tax increases appear to have a very large, sustained and highly significant negative impact on the economy.” ~ Christina Romer (just prior to leaving the Obama Administration)

What’s wrong with a little fairy dust?

Obama’s misconception is steeped in the theory of Static Revenue Analysis, while Mitt Romney’s plan is based on Dynamic Revenue Analysis, or if you prefer “fairy dust”. Obama wants to raise taxes on the top 2% of income earners while doing absolutely, positively, nothing for the other 98% of Americans. Great plan Stan. On the other hand, Romney wants to cut personal income tax rates by 20% across-the-board on all Americans, eliminate taxes on interest, dividends and capital gains on those making less than $200,000, eliminate the death tax, eliminate the alternative minimum tax and lower the top corporate tax rate from 35% to 25%. What’s wrong with that?

Under Obama’s static theory, the size of the economy, the number employed persons, personal incomes, and the amount of income tax collected are all fixed. Following are five common assumptions under his static theory.

1. If you’re not working today, you will never work again.

2. If you are working today and making $25,000 a year, you’ll be making $25,000 for the rest of your life.

3. Since the official U-6 unemployment rate is currently 15.0%, it will remain so indefinitely.

4. If taxes are cut, the rich will pay less in taxes (unproven).

5. Because the government collected roughly $2.4 trillion in taxes last year, unless tax rates are hiked, it will collect roughly the same amount every year going forward, from exactly the same taxpayers.

Thus, under static theory, the only way the government can get more money, Obama’s ultimate goal, is by raising taxes, and any reduction in tax rates would result in a permanent reduction in revenue.

Under Romney’s dynamic theory, the belief is that the stimulative effect of allowing citizens to keep and spend more of their own money will result in growth in the size of the economy, the number of working persons, personal incomes and the amount of tax revenue. Following are five common assumptions under dynamic theory.

1. If you’re not working today, you will eventually find a job and start paying income taxes.

2. If you are already working and making $25,000, your income will eventually rise and you’ll end up paying more in taxes than you were before, albeit at a lower tax rate.

3. The economy will reach full-employment.

4. When taxes are cut, the rich will pay more in taxes (proven), and more people will become rich.

5. An increase in economic output yields an increase in the number of working persons, which means more taxpayers, and thus greater government revenues.

What we should understand is that supply-side economics has always worked in the past and always will in the future. In the 1980’s it was called Reaganomics, but pejoratively referred to as “trickle-down” or “voodoo” economics. Today, according to Barack Obama it’s just “fairy dust”. How original. Call it what you will, it does work, and that’s more than can be said of Obamanomics.

In the 1980’s, the four pillars (i.e. fairy dust) of Reagan’s economic policy were to reduce the growth of government spending, reduce income tax and capital gains tax, reduce government regulation of economy, and control the money supply to reduce inflation. Mitt Romney’s five point plan builds on Reagan’s four pillars, his policies also cut the deficit, reduce income and capital gains taxes, reduce the number of government regulations and create a Reagan Economic Zone to strengthen free-enterprise and the U.S. Dollar world-wide. What’s wrong with that?

Revised Jobs Benchmark

So where have Barack Obama’s policies gotten us? Well, extending Economist Paul Krugman’s job creation benchmark and updating it with the latest figures, we discover that to be meaningful, the number of jobs needed to return to more or less full employment by December of 2014, or within the next 29 months, is now 532,517 jobs a month, as follows:

In order to keep up with population growth, we would need to create 127,000 jobs times 29 months, or 3,683,000. Add in the need to make up for the jobs deficit and we’re at around 15,443,000 (3,683,000 + 11,760,000) over the next 29 months — or 532,517 jobs a month.

If we extend the target date to 5 years from today, then the number of jobs needed to return to more or less full employment by July of 2017, or within the next 60 months, is now 323,000 jobs a month, as follows:

In order to keep up with population growth, we would need to create 127,000 jobs times 60 months, or 7,620,000. Add in the need to make up for the jobs deficit and we’re at around 19,380,000 (7,620,000 + 11,760,000) over the next 60 months — or 323,000 jobs a month.

The Bottom Line: Since we only created 163,000 jobs in July, and since the jobs deficit declined by a mere 30,000, under the policies of Barack Obama, we are something in the order of 54 years away from full-employment [(323,000 / 30,000 = 10.8) and (10.8 * 5 = 54 years)]. In other words, we are NOT moving in the right direction, we aren’t moving at all. Due to a waste of 43 months under the failed policies of Barack Obama, we must now create 532,000 jobs each and every month to be on a track towards full employment within 29 months, or 323,000 jobs each and every month to be on track towards full employment within 5 years. Thus, since Obamanomics has pushed us so far away from the mark that most of us living today will never see full-employment again within our lifetimes; perhaps a little “fairy dust” is in order.

Photo Credit: Where’s the antimatter then? | Michigan State University

Data: Worksheet on Google Drive