“The unemployment rate for young Americans has exploded to 52.2 percent — a post-World War II high, according to the Labor Dept. — meaning millions of Americans are staring at the likelihood that their lifetime earning potential will be diminished and, combined with the predicted slow economic recovery, their transition into productive members of society could be put on hold for an extended period of time.”
“The number represents the flip-side to the Labor Dept.’s report that the employment rate of 16-to-24 year olds has eroded to 46.6 percent — the lowest ratio of working young Americans in that age group, including all but those in the military, since WWII.”
And they’ll have to pay for the trillions that Obama is adding to our national debt, too.
Remember, young people really liked Obama during the election:
I’m thinking that those young people should be more careful about considering a politician’s voting record instead of listening to their government-funded public school teachers. It seems to be that government-run public schools will always indoctrinate children to vote for bigger government, and that means higher unemployment in the private sector, especially for entry-level job-seekers. Maybe the young people didn’t think that far ahead, but then they should be more cautious about forming opinions without asking their parents for input.
You may also be interested in a wonderful video linked here that shows several prominent Democrats assuring us that the stimulus bill was needed to create millions of jobs and keep unemployment below 8%. They don’t understand economics – they’re Democrats. The know less about economics than my keyboard. If young people want to learn about economics, then they need to read Thomas Sowell and Walter Williams. Those are the two greatest living economists, and they teach economics so that regular people like me can understand.
Federal employees making salaries of $100,000 or more jumped from 14% to 19% of civil servants during the recession’s first 18 months — and that’s before overtime pay and bonuses are counted.
Federal workers are enjoying an extraordinary boom time — in pay and hiring — during a recession that has cost 7.3 million jobs in the private sector.
The highest-paid federal employees are doing best of all on salary increases. Defense Department civilian employees earning $150,000 or more increased from 1,868 in December 2007 to 10,100 in June 2009, the most recent figure available.
When the recession started, the Transportation Department had only one person earning a salary of $170,000 or more. Eighteen months later, 1,690 employees had salaries above $170,000.
The average private sector salary is about $40,000. The average federal worker makes over $71,000.
ANNOUNCER: We will now take you live to Beijing for the joint press conference already underway between U.S. President Obama and Chinese President Hu Jintao.
OBAMA: As I already said privately, I would like to thank President Jintao for his kind welcome and generous hospitality, and I hope that during this visit we can have a productive dialogue about the serious issues of concern that remain between our two countries — issues ranging from the unfair valuation of your currency to the trade imbalance, and most importantly, human rights. I believe there can be a great partnership between us but it will require compromise and understanding.
(Hu Jintao “speaks.”)
INTERPRETER: Thank you, Mr. President. I would like to add that I completely understand why you feel entitled to come here and lecture China on our shortcomings. After all, my country does owe the United States a great deal of money. Oh, wait. Hold on a moment. I believe I had that backwards. In fact, now that I think about it, it is your country that owes us a large sum of money. Is this correct?
OBAMA: Uh… yes.
(Hu Jintao “speaks.”)
INTERPRETER: Now, it’s coming back to me. I believe it’s $800 billion.
OBAMA: That is correct.
(Hu Jintao “speaks.”)
INTERPRETER: Such a large sum.
OBAMA: Yes, it is.
(Hu Jintao “speaks.”)
INTERPRETER: And yet you haven’t even mentioned it. That’s so odd.
OBAMA: Uh, look, you’re going to get your money.
(Hu Jintao “speaks.”)
INTERPRETER: Are we? Are we going to get our money? Because from what I read your country is in the middle of a serious recession.
OBAMA: Uh, while this is true, there are signs that our bailout has steadied the financial markets and our stimulus package has been effective in fixing the job crisis.
(Hu Jintao “speaks.”)
INTERPRETER: I’m curious. How many jobs has it created?
OBAMA: Uh, so far, none.
(Hu Jintao “speaks.”)
INTERPRETER: I see.
OBAMA: But our health care reform plan, we’re confident, is going to lead to enormous savings.
(Hu Jintao “speaks.”)
INTERPRETER: How exactly is extending health care coverage to 30 million people going to save you money?
OBAMA: I… don’t know.
(Hu Jintao “speaks.”)
INTERPRETER: And this “Cash for Clunkers” program– I have read that you purchased many clunkers with our money.
OBAMA: Yes, we have.
(Hu Jintao “speaks.”)
INTERPRETER: What does this word “clunkers” mean?
(Hu Jintao “speaks.”)
OBAMA: Well, a clunker is a car…
(Hu Jintao “speaks.”)
INTERPRETER: I know what a clunker is. And just so there is no misunderstanding, you are not allowed to pay us back in clunkers.
OBAMA:Of course not.
(Hu Jintao “speaks.”)
INTERPRETER: You know, as I listen to you, I am noticing that each of your plans to save money involves spending even more money. This does not inspire confidence.
OBAMA: I assure you, you’re going to get your money.
(Hu Jintao “speaks.”)
INTERPRETER: Will you kiss me?
OBAMA: Sorry?
(Hu Jintao “speaks.”)
INTERPRETER: Will you kiss me?
OBAMA: I don’t understand.
(Hu Jintao “speaks.”)
INTERPRETER: I like to be kissed, (shouts) when someone is doing sex to me!
OBAMA: There’s no need for that.
(Hu Jintao “speaks.”)
INTERPRETER: No? You know how many uninsured we have in China? One and a quarter billion, billion. But I’ll tell you this: We don’t owe anyone $800 billion.
OBAMA: Well, obviously, we take our debt to you very seriously.
(Hu Jintao “speaks.”)
INTERPRETER: I suppose if I really wanted to get my money I could call and say I was a Wall Street banker who needs his bonus. But really, why should I have to stoop to that level?
OBAMA: You don’t have to stoop to any level.
(Hu Jintao “speaks.”)
INTERPRETER: Please understand if it were my $800 billion I wouldn’t care, but it belongs to my country. I feel like I should bring it up.
OBAMA: You’re going to get your money.
(Hu Jintao “speaks.”)
INTERPRETER: Say, while you’re here, are you at least going to treat me to dinner and a movie?
OBAMA: I’m sorry?
(Hu Jintao “speaks.”)
INTERPRETER: I think it’s the polite thing to do, (shouts) before doing sex to me!
OBAMA: Mr. President, please.
(Hu Jintao “speaks.”)
INTERPRETER: Very well.
OBAMA: I assure you that as soon we solve this economic crisis…
(Hu Jintao “speaks.”)
INTERPRETER: Which one? The one that your country’s reckless real estate speculation caused? That one? I just want to make sure I know which one we’re talking about.
OBAMA: We are taking steps to make sure that what happened will never happen again.
(Hu Jintao “speaks.”)
INTERPRETER: What steps?
OBAMA: Uh, reform of banking regulations.
(Hu Jintao “speaks.”)
INTERPRETER: Do I look like Mrs. Obama?
OBAMA: What?
(Hu Jintao “speaks.”)
INTERPRETER: Do I look like Mrs. Obama?
OBAMA: Of course not.
(Hu Jintao “speaks.”)
INTERPRETER: Then why are you trying to (shouts) do sex to me like I was Mrs. Obama?
OBAMA: Now, now.
(Hu Jintao “speaks.”)
INTERPRETER: Just do it. Get it over with.
OBAMA: Mr. President!
(Hu Jintao “speaks.”)
INTERPRETER: Don’t be a tease.
OBAMA: I just…
(Hu Jintao “speaks.”)
INTERPRETER: I can take it.
OBAMA: This is not the time or place.
(Hu Jintao “speaks.”)
INTERPRETER: Very well. In that case, I call this press conference to a close, and Live from New York, it’s Saturday Night!
WINTERY KNIGHT 