The Republicans think if they keep repeating the same lies over and over again people will br hypnotized into believing them.

From the chart below it can be seen that unemployment went from the high 4% level in 2007 to 10% in 2009.  Thanks to actions taken, the exploding unemployment rate was brought under control and now is slowly recovering coming down to the low 8% levels.  Not that 8% is the goal but due to all the economic infrastructure that was destroyed due to the history making recession it cannot recover quickly.  The damaged infrastructure needs to be rebuilt.  That can’t happen overnight or even in a couple of years.  It at least requires the housing sector recover.  Also, as is typical of major recessions, it take time to work through the economy.  First banks, housing and investors took the brunt of the hits.  Next general employment took the hit with businesses either failing or scaling back.  Next was public employees as now governments at all levels cut back due to decreasing revenues.  Part of the drop off in job creation in the summer of 2010 seen in the chart below was due to local governments and schools laying off.

The foreclosed housing inventory peaked in the summer of 2009 and is slowly recovering.  Until that inventory comes down to normal levels unemployment levels will stay elevated.

One other thing is going to be changing.  To achieve the goal of a balanced budget and to also trying a reduce the deficit there is a price to pay.  Higher unemployment.  If you look at the chart below at the unemployment rate over the last few decades you can see that it averaged a low of about 3% (WWII) to a high of about 11%.  If you had to pick an average it would appear to be about 5%.  The price to pay for a balanced budget – higher unemployment – probably in the 6-7% range as the new normal.

What the country needs is for everyone to act like Americans.  This is not the time or the place for partisan politics.  It’s time for American action and an American voice!