Down, Down, Down

Once again, the US economy has produced some unexpected news--job creation was low in August. In fact, according to today's Department of Labor report, no net new jobs were created. This is the first time since 1945 that there has been a zero job growth figure.

But, it gets even worse. The dismal job growth performances for the past two months have both been revised, wait for it...downward. A dismal July estimate of 117,000 jobs created was lowered to an even more dismal 85,000, and an embarrassingly dismal June estimate of 46,000 jobs was lowered to a wear-a-sack-over-my-head-dismal 20,000 jobs created.

This is the success story of Barack Obama and his army of economy killing regulators and Keynesian economists. You cannot wage a war on employers without it having a crippling effect on the numbers of employees they can afford to either keep on, or add to, the payroll.