The Summer Of Recovery-Not

From your good friends at floppingAces:

What unbelievable chutzpah!

While the overall economy lost 125,000 jobs last month, Obama said that included the planned phase-out of some 225,000 temporary Census jobs.

“Make no mistake, we are headed in the right direction,” Obama said before boarding Air Force One en route to Sen. Robert Byrd’s funeral in West Virginia.

Obama tried to take credit for the temporary increase of jobs with the census workers, and now must take credit when those jobs are gone. Then Obama and pals point to the 9.5% drop of unemployment from 9.7% the month prior as some kind of vindication. Of course they fail to point out that this is because 625,000 people just gave up and left the work force.

Wow….what a success!

The US economy lost 125,000 jobs in June, more than economists had forecast, as thousands of temporary census jobs ended and private hiring grew less than expected.
And though the unemployment rate unexpectedly fell to 9.5% from 9.7%, the lowest in a year, it was largely due to more people dropping out of the labor force.
The report was the latest sign that the economic recovery may be faltering.
“Overall what this does is it reinforces the market’s view that the U.S. recovery is losing steam,” said Greg Salvaggio, vice president of trading at Tempus Consulting in Washington.
But hey, Obama claims we are moving in the right direction with unemployment sky high, no jobs being created, people so dejected they are leaving the work force in droves, housing sales down, and on and on and on.

Complete and utter bull