When President Obama was selling his $787 billion stimulus to the American people he promised unemployment would never rise above 7.8% and that by 2010 the U.S. economy would employ 138.6 million jobs.Today, BLS released its monthly jobs report and the numbers speak for themselves. The economy shed another 190,000 jobs in October, bringing the number of jobs lost since Obama was sworn in to 3.8 million. Worse still, the unemployment rate rose from 9.8% to 10.2% percent. With only 130.8 million jobs in the U.S. economy, President Obama is now 7.8 million jobs short of what he promised the American people. That makes President Obama’s stimulus an objective failure.
Hope. Change. Time for a new plan.
Posts
1 comment:
We will soon hear that Pres Bush left a bigger mess than imagined, that without the efforts of Pres Obama it would be much worse, and that we must consign even more money to stimulate the economy...neglecting the sordid fact that much of the stimulus money has not been spent.
Now...just before the next election we will see a flurry of activity. Hopefully the people will recognize the blatant attempt to buy votes and send the current crowd packing!
Post a Comment