Monday, March 10, 2014

Rising Long-Term Unemployment: Proof Of Obama's Mishandling of the Economy

Recently, when the February jobs report was released, a number of Democrats and left-leaning media types jumped on the fact that the number of people who were out of work for more than 26 weeks had suddenly risen by 203,000.  Conveniently proving that the Democrats proposed extension of long-term unemployment benefits -- which are now stalled in the Republican-controlled House of Representatives -- is sorely needed.  Of course, some on the political right would say that the sudden jump in this number is another negative in Obama's handling of the economy and that the President's over-regulation is why we have so many long-term unemployed.  So to prove those people wrong, the far-left MSNBC was compelled to come to Obama's defense by showing long-term unemployment declining every year since he took office:

While that chart certainly shows what might look like a positive for Obama, the chart they aren't showing you is this one from the Huffington Post:

It clearly shows that we are at record high levels of long-term unemployment as a percentage of overall unemployment.  Of the 10.5 million unemployed in February, 37% are still long-term unemployed. That's more than double than the absolutely worst levels under any president since 1948. At the current rate of decline, we won't get back to pre-recession levels for decades to come. 

As far as extending unemployment benefits are concerned, we shouldn't be concerned.  What is being ignored in all of this debate over extending benefits is the fact that there are so many so-called safety nets in the system that people are better off without that unemployment check.  Without it, they get a welfare check, free Medicaid, housing assistance, subsidized child care, Earned Income Tax Credits, free Obama-phones, Food Stamps, and oh so many goodies that it just doesn't pay to have a job.  So, instead of Democrats telling the truth that they have made it better not to work, they, instead, want to use extended unemployment benefits as a wedge election issue to once again make Republicans look heartless.


Long-term unemployment rises:

February Unemployment Report:

Strong Jobs Report Could Mean Bad News For Unemployment Benefits:

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