Tea Party on Jobs

Real unemployment is 18%, counting under-employment

In the President's speech tonight, we heard more well-scripted rhetoric. Now let me tell you what we did not hear. We did not hear the real facts about the state of the union. Facts don't lie. Here are some of the facts you did not hear:

Unemployment: The December unemployment rate was reported to be 8.5%. But if you add in the people who have been looking for so long that they have stopped looking and they are discouraged, and you add in the 8 million people that are underemployed, the real rate of unemployment is 18%. It's a matter of how you want to count it.

Economic growth: Our economic growth in the last 3 years has been anemic. In 2011 alone, it was less than 2%. If we were really in a recovery, our GDP growth should be around 5% per annum. And that's still only half of what countries like China are experiencing in terms of their economic growth.

Source: Herman Cain response to the 2012 State of the Union speech , Jan 24, 2012

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