Jobs & Economy
Today’s economic news highlights my number one issue: Jobs and the Economy.
The economy contracted 2.9% for the first three months of 2016, far more than the -1% the government estimated last month. This is the most since the height of the 2008–2009 recession.
This contraction extends well beyond the cold weather the country endured during an extended winter, and points directly to structural weakness in the broader economy. I have stated that most Americans are struggling and still living in a recession. The true unemployment rate (U-6 not U-3) is closer to 11%.
If Americans cannot find work, or are not getting paid more, there is no possible way for them to spend more. Basic necessities of life (food & energy) are rising exponentially and those who have work are working longer and harder just to keep up. There is no possible way for them to go out on spending sprees when they have a family to feed and clothe.
When are the voters going to realize that all of the pain they are suffering is self induced by the people they have elected?
Hope is not a strategy, Action is!