If you told recovering alcoholic and drug addict Hermon Blount a year ago that he’d soon be getting up 3 or 4 days a week at 5:30 a.m. to run, he may not have believed you. That was before he decided to quit drinking and using drugs in exchange for something better. Part of Blount’s ongoing recovery process can be attributed to the early morning workouts he does with a national, nonprofit organization called Back On My Feet (BoMF). BoMF exists to promote self-sufficiency for formerly homeless and often drug-addicted … More
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A little over three years ago, President Barack Obama’s advisers released a chart that purported to predict the future. With the President’s almighty stimulus, they said, unemployment in America would plummet. And the President promised that unemployment would never rise above 8 percent. Well, they were wrong. In the chart below, we take a look at where unemployment is today and where the President’s advisers said it would be. As you can see, there’s a significant difference. (article continued below) In a new report, Heritage’s Rea Hederman, Jr. analyzes the latest jobs … More
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In the Super Tuesday primary, the economy was the number one issue on voters’ minds, be they in Massachusetts, Georgia, Ohio, or Virginia. And that wasn’t because they were happy about high unemployment and slow wage growth. Yet according to President Barack Obama, “the economy is getting stronger, and the recovery is speeding up.” Of course, these things are relative. A disappointing recovery is underway. It just hasn’t touched the millions of Americans who remain out of work, the millions more whose wages can’t keep up with inflation, and it … More
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Sure, the U.S. economy is recovering, but it’s doing so at a very…slow… rate. Some on the left, including the President, paint America’s bounce-back as a roaring surge of job creation, but in truth it’s more of a whimper, as the following four charts show. 1) The recovery is still lagging, even 49 months after the recession began. Heritage’s James Sherk writes in a new paper that “In the last quarter of 2011, net hiring amounted to only 4.0 percent of the available labor supply—more than 40 percent less than … More
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Despite a recent spate of good economic data, including last week’s jobs report, the U.S. economy remains deeply depressed. Don’t take my word for it. That’s how Paul Krugman, leftist econo-pundit extraordinaire, describes the economy. In a recent column in The New York Times, he wrote, “our economy remains deeply depressed.” As Krugman pointed out, given an honest appraisal, one finds that “every silver lining comes with a cloud.” And thus it is with the recent good data, which while decidedly good and will hopefully persist, nevertheless cannot disguise the … More
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