Politicians are crying wolf on economy
Letter to the Editor
Politicians are crying wolf on economy
A report I just read revealed some interesting facts. In January, President Barack Obama said 2008 was "the single worst year of job losses since World War II." News reports (CNN, ABC, etc.) gave play to this with "highest job losses," "worst job market," etc. The fact is true, but the comparison is bogus.
In 1945, there were only 39 million non-farm persons employed. Today there are 135 million — almost three and one-half times as many — workers. If you compare the severity of job losses, there would need to be more than nine million unemployed workers. In fact, there have been seven times in the past 63 years that the number of unemployed has reached 2 million. On average it occurs every nine years. Comparing the number of unemployed on a percentage basis, there have been eight times the unemployment rate reached our present level. On average, it occurs every eight years.
A senator recently said that if we don't pass the stimulus package that is before Congress, 500 million workers would lose their jobs.
Since there are only 135 million workers, how do they lose their job 3.7 times? With a total population of only 350 million, how can 500 million lose their jobs? How do we elect such uninformed people?
Why are so many politicians and their fellow travelers trying to scare us? When will we recognize they are crying wolf? Is it socialism yet?
William R. Gaston, Anderson
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