I saw Obama yesterday claiming the new job numbers are proof that his policies are working and that we are in an economic recovery... Fact is, that is not the truth, or even close to the truth...
First, the unemployment rate ticked up to 7.9% and the year-to-date monthly average of 157,000 payroll jobs is barely enough to keep up with population growth -- much less make up for the 8 million jobs lost during the Great Recession.
Second, the so-called real unemployment rate (U6) remains elevated at 14.6%, albeit down from 14.7% the prior month. Similarly, the labor participation rate is at 63.8%, up from its multi-decade low but still incredibly weak.
Third, average hourly earnings fell a penny in October and average hours worked fell to 34.4 from 34.5 in September.
Stagnant wages means "we're not generating income," Reinhart says. "That's a problem in terms of the durability of an economic expansion, which is usually fueled by consumption. To get consumption you've got to generate income."
Also, just look at your checkbook. We are paying a lot more for everything now than we did in 2008. The price of gas has doubled. At the same time, wages have gone down, and that's if you're lucky to have a job.
In 2008, 25 banks went out of business. In 2012, 48 banks have gone out of business. Almost double the amount. Does that sound like recovery to you? Don't believe the Obama lies!!

Romney/Ryan 2012