Greetings to our Constituents, fellow Floridians, and all Americans. It is time for our weekly update. I pray all of your children and grandchildren enjoyed a wonderful and safe Halloween and got plenty of treats.
Speaking of which, today the October jobs report numbers were released, and no matter what the figure, the bottom line is simple, 23 million Americans are still struggling for employment in our nation.
I am pleased to hear nationally there were some 171,000 jobs created, and I pray these were full-time employment jobs and not predominantly part-time positions. However, we need a private sector jobs market that is creating 250,000 to 300,000 jobs per month to get us moving back to a national full time employment rate of 5%.
Today the unemployment rate released was 7.9%, but the projection from the almost $1 trillion stimulus package — one of President Barack Obama’s deemed legislative successes — stated unemployment would be at 5.8%. In other words, at the end of his first term, America is 2.1% worse off in reported unemployment. Were Americans tricked into believing the stimulus would work?
We still have an alarming U6 employment rate (unemployed, underemployed, and dropped from the rolls) of 14.6%, just down from 14.7%. And lastly, our workforce participation rate remains very troubling, at an historic low rate of 63.8%. The key point here is that we have more Americans forced into part-time employment or simply forced out of the workforce.
We also must consider that President Obama promised to cut the annual federal deficit in half at the end of his first term. To put that into perspective, the first annual deficit under President George W. Bush (when Nancy Pelosi was House Speaker and Harry Reid was Senate Leader) was $458 billion. According to President Obama’s promise, we should be looking at an annual federal deficit in this fourth year of his term at $230 billion.
Instead we have had annual deficits under President Obama of $1.42 trillion, $1.29 trillion, $1.3 trillion, and now at the end of his first term… $1.1 trillion. How many Americans were tricked into thinking our deficits would reduce?
President Obama likes to talk about his economic plan. Well, his Fiscal Year 2013 budget is evidence of his economic vision. It includes $1.9 trillion in new taxes, but the debt — which was $10.6 trillion when he came into office and is now $16 trilliion — grows to $20 trillion in four years, and $26 trillion over the next ten years. Annual deficits never go below $900 billion. His budget never balances. And all the American people get is a 53% increase in the Federal Government… if they’re tricked into accepting it.
Considering the looming “fiscal cliff,” we are hardly out of the woods, and could easily slip into a double-dip recession. Higher taxes on job creators will result in more uncertainty, higher unemployment, and economic malaise.
Let us not forget that we are limping along with a Gross Domestic Product that is not going “Forward” — it is positively anemic, with the last report for third quarter at only 2%, actually 1.6% when one eliminates Federal Government spending.
Al Qaeda is not decimated. And we are not ending combat engagements, we are just going home. The horrific incidents of the 11th anniversary of 9-11 where we had countless United States Embassies and Consulates attacked, a United States Ambassador killed for the first time since the Carter Administration, and three other Americans, including two former US Navy SEALS, all remind us that the world is more unstable and the Obama foreign policy has proven the projection of weakness is provocative.
The saving grace America is that in September of 1980 the final unemployment statistic for the Carter Administration before the election was 7.5%… and subsequently America got a treat: President Ronald Wilson Reagan.
Today, we learned the unemployment rate today was 7.9%…Trick or treat, America.
Steadfast and Loyal,
P.S. The thoughts and prayers of my wife Angela and I continue to be with the people of New Jersey and New York City who have been severely affected by Hurricane Sandy. Many here in South Florida have relatives and connections to the areas worse hit by the storm. In this time, we pray God will provide you the comfort and perseverance to weather this storm. Just as a new day began the day after the storm passed, so shall, in the coming days, an even better sun rise upon your restored lives and communities… America is always here for you.
Highlights of the Week:
– Monday, 29 Oct; addressed the Jupiter High School leadership skills development class to discuss principles of leadership, time management, styles of leadership; had lunch with several veterans, including a World War II bomber pilot, at Schooners restaurant in Jupiter where we told old warrior stories and shared perspectives about serving our great nation; addressed three classes of 6th and 7th Grade civics students at Manatee Academy in Port St Lucie.
– Tuesday, 30 Oct; addressed the entire 7th Grade of civics students at Western Pines Middle School, even played a game of civics trivia.
– Wednesday, 31 Oct; visited the Riviera Beach United Parcel Service (UPS) distribution center to address employees, drivers, and hand out drivers recognition awards… even donned a set of “Browns” to make several deliveries to local small businesses in the North Palm Beach County area; addressed a group of real estate professionals at Golden Bear Realty in Palm Beach Gardens on current issues affecting the mortgage industry.
– Thursday, 1 Nov; spoke at the Ft Pierce Kiwanis Club Annual Farm City BBQ. Addressed tax, regulatory, and access to capital concerns for Agriculture industry along the Treasure Coast; visited Genuine Bio-Fuel in Indiantown where they are converting used restaurant oils into actual diesel fuel. Walked through the entire process and watched as a tanker came and was fueled with the diesel product.
– Saturday, 3 Nov; will attend a ribbon cutting in Port St Lucie for Teens in Action Training Center for Community Development Outreach
– Sunday, 4 Nov; will address congregants at two church services: Grace Place in Stuart and Common Ground in Ft Pierce.