What is the real unemployment rate?

Atlanta Federal Reserve Chief Dennis Lockhart says it's 16% and I think he's probably right. If you look around all the signs of the major economic pit we're in are around us.

"The real US unemployment rate is 16 percent if persons who have dropped out of the labor pool and those working less than they would like are counted, a Federal Reserve official said Wednesday.

"If one considers the people who would like a job but have stopped looking -- so-called discouraged workers -- and those who are working fewer hours than they want, the unemployment rate would move from the official 9.4 percent to 16 percent, said Atlanta Fed chief Dennis Lockhart." (HERE'S THE LINK: Real US unemployment rate at 16 pct: Fed official

I'm going to ask again, HOW'S THAT HOPE AND CHANGE THING WORKING FOR YOU?

Read this also: Government’s Negative Effect on the Labor Market

"A large part of the problem, of course, is that public spending crowds out private spending. Or in other words: every dollar the government spends is one more dollar being bid away from private industry. And this goes for employment too. Every employee the government hires is one less person for the private sector to employ in productive jobs. Now, of course, if the government was just as efficient and productive as the private sector then this would not be a problem."

It's just too bad the morons who are running the federal government now never studied American History or American economics. "Those who cannot remember the past are condemned to repeat it." (George Santayana)