Rob Tracinski, TIA
President Obama's statement that "the private sector is doing fine" is not just gaffe. It is a lesson in bad economics and an explanation of the failure of Obamanomics.The specific premise behind that statement is that the cause of persistent unemployment is not the weakness of the private sector but rather a decrease in employment by state and local governments.The Heritage Foundation provides the graph that refutes this on a purely factual level. It shows employment levels in the private sector versus state, local, and federal government since the beginning of the recession....
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