Last Friday, February 5, 2016, the Bureau of Labor Statistics (BLS) reported that the unemployment  rate had dropped to 4.9%. Sounds like the economy must be going gangbusters, but we all know that that's not the case.  In fact, the economy has slowed again significantly and fewer people as a percentage of the working population are employed than during the failed Carter administration in 1980.  Ninety two million Americans of working age are unemployed, more than anytime in our nation's history.  On Thursday of each week the BLS  reports the number of new first time unemployment claims for benefits and on Friday the new jobs created.  Having watched these statistics for years, I can report that the new weekly unemployment claims have averaged better than 250k/week. On Friday new jobs is reported and has averaged less than 150K/week which means a are loss of at least 100K/week.  Then why is the unemployment rate dropping?  Maybe the Obama regime counts welfare recipient as a job category.  The reason is that those who have not found a job after 26 weeks are simply no longer considered unemployed.  They are simply not counted anymore, even though they are still unemployed. If the BLS considers a person unemployed for only 26 weeks, why is the government paying unemployment benefits for 99 weeks?  The reason for this discrepancy is obvious.  It gives the Obama regime a reason to boast about the economy and unemployment even though nothing could be further from the truth.  It also pays off the long term unemployed to keep them quiet and vocally protesting.  Of course some manage to earn money off the books and so not only to they avoid taxes, but the unemployment money becomes a bonus.
      As usual, the corrupt main stream media, dutifully reports these lies as true and then remarks what a great job Obama is doing, when in fact he has tried to undermine and destroy the economy at every turn. Marco Rubio is correct, Obama knows exactly what he is doing and is purposely destroying the economy. Throwing away $800 billion on a "stimulus" package that only stimulated the pockets of his campaign contributes and bundlers, Obamacare, high business and income taxes, burdensome regulations, and pushing the hoax of global warming have all contributed to unemployment and the weak economy.
      Now Obama wants to put a $10/barrel tax on oil.  In case you haven't noticed the price of gasoline has dropped precipitously at the pump.  Obama, despite the fact that he has done everything possible to damage the oil, gas, and coal industry, tries to take credit for the glut of gas and oil.  The glut and price of oil exits despite Obama and because Saudi Arabia is trying to damage the oil industry in America and more recently of its enemy Iran. This was just as the United States was about to become the leading producer of oil in the world.  Congress recently passed legislation to override a law from the 70s that prevented us from exporting crude due to the OPEC embargo.  Saudi Arabia has the lowest lifting costs per barrel in the world.  Much of our new oil production is due to fracking a relatively expensive process, though due to American ingenuity the lifting cost have dropped dramatically. Deep water exploration and production are even more expensive.  Oil companies, especially smaller ones usually borrow money for exploration and setting up rigs on drilling sites that pan out.  They need to sell oil at a certain level just to service their debt and can't afford the luxury of reducing production temporarily until prices rise. Many have avoided bankruptcy by selling assets that temporarily have a lower valuation due to the lower price of oil. Some have gone into bankruptcy are were then bough by bigger more financially sound companies, but even the biggest oil companies have been dramatically affected.  Several OPEC partners of Saudi Arabia are in big trouble, especially Venezuela and Algeria whose economies are based on the price of oil.  Russia, another country that relies on the price of oil and gas, has serious economic issues  as these are its major source of hard currency.  Obviously the Saudi economy is also hurting as it is based on a price of about $70/barrel to prove its services, so the pressure could ease in a year or so.  You might think that American industries are helped by lower energy costs and this is true to a certain extent, but over regulation and the threat of the significant cost the Obama oil tax would impose as well as increasing regulations have tempered any expansion, especially as Obama is pushing the massive global warming hoax and war on American energy resources.