What would be a more effective way to increase employment and boost the economy – continue quantitative easing or repeal Obamacare?
The answer is obvious to anyone paying attention. After more than five years of quantitative easing and nearly $4 trillion in bond buying, the unemployment rate is still 7.6%, which is well above the targeted rate of 6.5%.
But, as we’ve pointed out before, that U-3 unemployment rate is deceiving, as it doesn’t include people who have given up looking for work and it counts part-time employees as if they were fully employed.
As we reported in April, 90 million Americans had given up looking for work, which is why the unemployment rate dropped to 7.6%.