Tell us again why you want us to be like Europe Mr. Obama?

Italy Jobless Rate Jumps to Record High of 11.7 Percent in January

Published: Friday, 1 Mar 2013 | 4:57 AM ET

Ian Cumming | Axiom Photographic Agency | Getty Images

Italy’s seasonally adjusted unemployment rate jumped to 11.7 percent in January from 11.3 percent the month before to hit its highest level for at least 21 years, data showed on Friday.

The figure was above all forecasts in a Reuters survey of analysts which pointed to a marginal uptick to 11.3 percent.

Rising unemployment was a major issue in the national election on Sunday and Monday which saw a dramatic surge in support for the anti-establishment 5-Star movement led by comic Beppe Grillo.

The election left Italy in political chaos, with no clear parliamentary majority emerging.

In a series of negative records showing that Italy’s long recession is taking a heavy toll on the labor market, youth unemployment also jumped to an all-time high of 38.7 percent from 37.1 percent.

Both overall unemployment and youth unemployment were the highest since the current statistical series was begun in 1992.

The employment rate – showing the proportion of Italians in work as a proportion of the population – fell to 56.3 percent from 56.5 percent, to its lowest level for 13 years, national statistics institute ISTAT reported.

Analysts say the real challenge for Italy is to increase its chronically low rates of employment and participation in the labor market, which are among the lowest in the industrialized world, especially among women, the young and the elderly.

In January, 97,000 jobs were lost from the month before and 310,000 were lost compared with January the year before.

Unemployment across the European Union countries that use the euro has hit a new record of 11.9 percent for January.

Here is a sample of unemployment rates in Eurozone

Eurozone Average 11.9

Cyprus 14.7

Estonia 11

France 10.6

Greece 20.8

Ireland 15

Italy 11.7

Portugal 17.6

Slovakia 14.9

Spain 26.2

Source: Eurostat

Remind us Mr. Obama again why you want America to be socialistic like Europe?

Just when I thought that I had seen the worst of Obama, he turns around and does this…

Just when I thought that I had seen the worst of Obama, he turns around and does this…

The list of his failures is endless. The emptiness of his ideas are epic.  Yet, for all the disappointments and shock that I have experienced with Obama nothing prepared me for the moment when he looked into the camera on 60 Minutes and told a cold-blooded lie.  “I am only responsible for an increase of 10% of the national debt.” I am straining to stay calm writing this.

He added 5.7 Trillion dollars to the debt in 4 years!  He added more than all presidents before him combined.  The national debt is $16 trillion!  Your child owes $66,000.  That is higher than Spain, Portugal and Greece!

His callous lie demonstrates the depth of his ignorance about the greatest danger Americans face.  It is a greater danger than global warming or foreign enemies.   Worse, it shows his complete disregard for Americans.

Wait, there is more…under his current plan, already voted in by the Democratic Senate the debt will increase to $25 Billion next year.   That is when our debt will be greater than what our economy produces.  Another word for that is bankruptcy.

It gets worse.  Listen to  Senator Jeff Sessions, ranking member of the Senate Budget Committee:

“This is a grim landmark for the United States. The gross debt of our federal government will, for the first time, surpass $16 trillion. That’s more government debt per person than Portugal, Italy, Spain, or Greece. Yet the President seems strangely unconcerned. His budget, which received zero votes in the House or Senate, would add another $66,000 in debt for every American household. And the President’s majority in the Senate, which is required by law to produce a budget plan every single year, has refused to do so for more than 1,200 days.

“We are on a dramatically unsustainable path. Forty cents of every dollar we spend is borrowed. Systemic factors, such as our aging population, make this the most serious financial challenge our nation has ever faced. This year will mark the fourth straight deficit in excess of a trillion dollars. In the last 3 months, more people have been permanently been added to the disability rolls than have found jobs. The IRS is mailing billions of dollars in tax credits to illegal aliens, and the USDA is partnering with Mexico to boost enrollment in food stamps. Washington is disconnected from reality.

“But this crisis cannot be ducked. By failing to outline any serious plan for the financial future of this country, Democrats who run the Senate and the White House have no basis on which to ask to be kept in their majority. The nation is in desperate need of strong executive leadership to end the financial chaos, restore discipline to government, and lead us to an economic renaissance.”

Obama does not care about you, your future, your children or their future.  He could not even remember what the national debt was when he was asked on the David Letterman show.

Let me repeat one part…the man who said he only responsible for 10% of the increase in debt is, among other things, “mailing billions of dollars in tax credits to illegal aliens, and the USDA is partnering with Mexico to boost enrollment in food stamps.”

Billions around the word live under tyrants and they cannot do anything about it.  We can and we must!  We have this one last gasp.  We can vote this tyrant out.  Think of it, in one more year the debt will stand at $25 trillion…what will it be if this man gets 4 more years?