In what can only be called a fit of brilliance, or someone fell asleep at the wheel again, the White House roll out good ol’ Sherriff “Shoot through the door” Biden. What did he have to tell us? Oh just that everything your eyes tell you is completely wrong and we are actually in the midst of a great economic recovery.
After all we added 142,000 jobs last month. Never mind that we need significantly more than that just to keep up with population growth, and you can see he might have overstated things a bit.
True we have had 54 straight months of jobs added, but no one talks about the types of jobs added. Since the U-6 is still 12% and labor participation is still at 62% that still puts 92 million out of a job. Great recovery.
Although its not like the media will call him on it. After all to do that would a) show his lack of knowledge on anything and b) be racist to Obama.
So here we sit, told that adding fewer jobs than people who were eligible to join the workforce is a good thing. But hey the DOW is at a new record and its not like the government is pumping money into that to artificially make it higher. Right?
So what happens when they stop?