“There are some structural issues with our economy where a lot of businesses have learned to become much more efficient with a lot fewer workers. You see it when you go to a bank and you use an ATM, you don’t go to a bank teller, or you go to the airport and you’re using a kiosk instead of checking in at the gate. So all these things have created changes.” ~ President Obama
Personally, I don’t see it. My bank has plenty of tellers and there are banks popping up on every corner around here. The idea for the first ATM dates back to at least the 1930’s and the modern ATM was used in the 1960’s. Rockville Centre, NY had the first bank ATM in 1969. I don’t think the ATM explains our unemployment problem. I also see the airlines making money and employing plenty of people.
The President is trying to say high unemployment is not caused by the oppressive regulations or ObamaCare. He is saying it is not the uncertainty; look at what happened to investors in GM and Chrysler – they were put to the back of the line during Obamaruptcy for the first time in our free market history.
The high unemployment is not the result of the ineffective spending President Obama recently joked about either. The Stimulus, he said, didn’t work quite the way he thought it would (the shovel ready jobs weren’t as shovel ready as we thought, hahahaha). It’s not the fact that businesses are forced overseas to make money. It’s none of that.
It’s the machines! The machines are taking away jobs. I guess Bush’s employment numbers would have been really great if it wasn’t for the dang machines. Read here: Obama blames ATM’s for unemployment and here: Shovel this