Analyst: Obama has U.S. economy in ‘death spiral’

Analyst: Obama has U.S. economy in ‘death spiral’

July 5th, 2010

By Bob Unruh, World Net Daily

A new analysis of the U.S. economy shows that since 2007, the private sector has lost 10.5 million jobs while the public sector has added 720,000 jobs, creating a “death spiral” for the nation’s economy.

The study comes from The Free Enterprise Nation, a nonpartisan national membership/advocacy organization for individuals and businesses that make up the private sector.

The analysis was done using statistics about employment data from the U.S. Bureau of Labor Statistics.

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The recession of the last two years exacerbated the larger problem that already was in place, it revealed.

“Over the 10-year period between March 2000 and March 2010, the private sector lost over three million jobs, while the public sector gained nearly two million jobs,” the analysis concludes.

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