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Obama’s Dismal Record on Jobs, Explained with Common Sense

D G Wrote: Jan 17, 2013 2:09 PM
It will take at least 2 years with at least 5% real GDP growth to restore prosperity. Obama won't accomplish that.
restoreliberty Wrote: Jan 17, 2013 8:41 PM
Obama doesn't want to accomplish that. The democrats now believe that their path to power is incumbent on increases the ranks of those living in poverty. The last thing they want is prosperity.

Economists may not agree on much, but we all agree that economic output is a function of capital and labor. Ask a Keynesian, a Marxist, an Austrian, a monetarist, or any economist, and they’ll all agree that living standards are determined by the quality and quantity of these two factors of production.

So it should be very worrisome that there has been a big drop in the share of the population that is employed. Here’s a chart produced from Bureau of Labor Statistics data, showing labor force participation during the 21st Century.