Discouraged by the lack of job growth and ever falling median incomes and enticed by easier and easier social benefit eligibility, tens of millions of able bodied Americans are withdrawing from the labor force. This immense waste of human capital and the social and moral degradation that come with it are perhaps the most expensive aspect of 'progressive' politics. These people have souls and were born with a purpose, yet the state in its wisdom has arranged things so that they will be warehoused, often for the rest of their lives. They call it compassion. I call it soul destruction,
But Barack Obama has one thing right: after four years of hope and change, the US is no longer the 'exceptional' nation. We're just another clogged, bureaucracy dominated social democratic ponzi scheme sliding towards oblivion. And not a particularly well run one at that.
Truthiness addendum: Mark Perry of Carpe Diem points out that about half of the decline has been due to demographic factors such as an older population. Yet if this is true, it makes the relatively high unemployment rates (reported and real) look even worse.
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