09/03/2011 12:17 pm ET Updated Nov 03, 2011

Has The U.S. Entered Into Long-Term Economic Decline?

No sooner had President Obama shocked the political world with a gloomy economic forecast - projecting 9.1 percent unemployment for this year and a reelection-killing 9 percent for 2012 - than the dismal August jobs report arrived showing no gain in nonfarm payrolls. That's right, no gain at all. Private jobs increased a scant 17,000, while hours worked and wages actually declined. Obama's economic policies have failed.

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