The New York Post yesterday ran with this staggering story on newly released figures from the Bureau of Labor Statistics:
"The unemployment rate for young Americans has exploded to 52.2 percent — a post-World War II high, according to the Labor Dept. — meaning millions of Americans are staring at the likelihood that their lifetime earning potential will be diminished and, combined with the predicted slow economic recovery, their transition into productive members of society could be put on hold for an extended period of time."
Almost fifty five percent of young Americans are unemployed. The figure is just mind-boggling. And yet the Administration continues to throw more of our money down the drain on this failed so-called ‘stimulus’. Despite the fact that every country that has tried to spend its way out of a recession throughout history has failed. Without exception. And stimulus packages are failing all around the world now.
It is often said that the definition of insanity doing the same thing and expecting a different result. Let us hope the Administration faces reality and reverse its failed policies of the past.