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RUSH: Ezra Klein in the Washington Post. His blog is called Wonkbook. “Something odd is happening in the economy. Jobs are coming back, and relatively quickly. But growth is lagging. Or, at the least, we think it is. Virtually every estimate of GDP growth for the first quarter of 2012 is below two percent — that\u2019s a third lower than it was in the fourth quarter of 2011, when payroll growth was lower … That\u2019s not normal… Typically, payrolls and the economy grow [at the same time]. When that doesn\u2019t happen, it\u2019s usually because the economy is growing and jobs are stuck. That\u2019s the situation the term ‘jobless recovery,\u2019 [means] … But we don\u2019t even have a term for the opposite of a jobless recovery.” We have a “job-full recovery” but no growth?<\/p>\n
Something\u2019s odd. Two things are not going together here: The numbers and how the Drive-Bys want \u2019em to look. On the one hand the Drive-Bys are telling us there\u2019s great growth in employment, but the economy\u2019s not growing, and we need a new word for that. ‘Cause we already have “jobless recovery,” which, by the way, when they advance that, do you realize how ridiculous that was? At the time they tried to tell us two years ago after the stimulus, “Oh, yeah, it\u2019s gonna be a jobless recovery,” that was their excuse for: There ain\u2019t gonna be new jobs \u2019cause of the stimulus bill. They knew, we knew. They fooled you and everybody into believing that the stimulus was to create jobs. <\/p>\n
They knew it wasn\u2019t gonna create jobs. It was to shore up already existing union jobs, primarily in the public sector. So they told us, “It\u2019s gonna be a jobless recovery.” We were all scratched our heads. “How can that be? How can you have a recovery when there aren\u2019t any jobs? Isn\u2019t that the essence of a recovery is people working? New people, new jobs, i.e., growth!” Now, what we\u2019ve got, they claim we have all these new jobs, but no growth. The answer is there aren\u2019t any new jobs. We\u2019re still at 370,000 applications for unemployment insurance every week. We still have unemployment at 8.3%. We\u2019ve got two million fewer jobs today than when Obama took office! There is no job growth, and that\u2019s the answer Mr. Klein to your confusion. <\/p>\n
There isn\u2019t any job growth, and there isn\u2019t any economic growth. And how can there be any economic growth with the policies of this administration? They\u2019ve got drilling moratoriums for oil. They\u2019re shutting down the Keystone pipeline, not even allowing it to be built. That\u2019s tens of thousands jobs there. There are two million few years jobs than when Obama took office. It\u2019s quite simple. James Pethokoukis, our buddy at the American Enterprise Institute: “The Entire Obama Presidency, in One Anecdote.” He writes, “One of my favorite moments from the new book: The Escape Artists: How Obama\u00c2\u2019s Team Fumbled the Recovery:<\/p>\n
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She comes back, there aren\u2019t any, and he doesn\u2019t understand it. <\/p>\n
Well, we\u2019re making all these investments!<\/p>\n
Sir, have you ever heard of Solyndra? They\u2019re all going out of business. They\u2019re all going bankrupt. There is no business there!<\/p>\n
Folks, until you come up with an alternative fuel that will make a Joe Boeing 747 fly, you\u2019re not talking reality. There\u2019s not a wind farm, there\u2019s not a solar panel, there\u2019s not a $50 light bulb — there is nothing — that will put a 747 in the sky other than oil. Refined to jet fuel, kerosene. Nothing else will do it. Not even gasoline, by the way. So all this is academic. Until you can give me a fuel that\u2019s gonna power giant cargo ships and tankers across the seas, you\u2019re whistling Dixie. There isn\u2019t a windmill, there isn\u2019t a wind farm, there\u2019s not a solar panel that\u2019ll get a ship any appreciable carrying any appreciable cargo a tenth of a mile. Until you come up with something that will get a 747 or a DC-9, any jet in the air, you\u2019re whistling Dixie. <\/p>\n
Okay, so, Obama doesn\u2019t get it, the book says, The Escape Artists: How Obama\u00c2\u2019s Team Fumbled the Recovery. Obama said, “I don\u00c2\u2019t get it. We make these large-scale investments in infrastructure. What do you mean, there are no jobs?” Now, Pethokoukis writes, “Now let\u00c2\u2019s fast forward to this past September: ‘A $38.6 billion loan guarantee program that the Obama administration promised would create or save 65,000 jobs has created just a few thousand jobs two years after it began, government records show. The program — designed to jump-start the nation\u00c2\u2019s clean technology industry by giving energy companies access to low-cost, government-backed loans — has directly created 3,545 new, permanent jobs after giving out almost half the allocated amount, according to Energy Department tallies.'”<\/p>\n
So after $19 billion, 3,500 jobs in the energy sector have been created. “So where are the new jobs coming from, at least the good-paying ones?” Are you ready? Folks, are you sitting down? “From the industry Obama wants to replace as much as possible with ‘clean\u2019 energy: oil <\/a>and gas. A new report from the World Economic Forum,” Davos, where all the libs go to worship. The World Economic Forum. It is the liberal economic Mecca. Every February. The World Economic Forum “estimates the sectors ‘added approximately 150,000 jobs in 2011, 9% of all jobs created in the United States that year.'”<\/p>\n An industry Obama is trying to shut down accounted for 9% of all jobs Obama created, and not a one of those 150,000, is from any stimulus. Ladies and gentlemen, the truth is that we are in the midst of a full-blown disaster. We\u2019re in the midst of a full-blown, incompetent, ill-informed, mal-educated administration that has created an utter disaster. We\u2019re living right in the middle of it: A disaster created by an arrogant ignorance by all in the Obama regime. Now, these numbers: 150,000 jobs in the oil and gas sector, while Obama\u2019s trying to shut it down or while Obama\u2019s trying to gin up all these jobs in the green sector? Green: 3500 jobs. Oil and gas: 150,000 jobs. “Those numbers are even more impressive once you realize that some 40% of all new jobs are being added in low-pay sectors such as retailing and leisure. So nearly 20% of new ‘good jobs\u2019 are in oil and gas,” and now I want you to think about the Keystone pipeline and then think about all the lost jobs there due to Obama\u2019s moratorium on drilling in the Gulf. <\/p>\n We elected a disaster, and we are living in the middle of one.<\/p>\n