Today, the new unemployment rate came out and it is 9.8% and if you adjust the rate to include everyone, it is over 17%.: The Labor Department said Friday that the economy lost a net total of 263,000 jobs last month, from a downwardly revised 201,000 in August. That's worse than Wall Street economists' expectations of 180,000 job losses, according to a survey by Thomson Reuters.
The unemployment rate rose from 9.7 percent in August, matching expectations.
If laid-off workers who have settled for part-time work or have given up looking for new jobs are included, the unemployment rate rose to 17 percent, the highest on records dating from 1994 http://finance.yahoo.com/news/US-jobless-rate-reaches-98-apf-93159528.html?x=0&.v=13
This Obama and the Democrat's economy. They cannot blame anyone but themselves. They passed TARP, bailed out the auto and banking industry and what did it get us? Higher debt and more jobs lost. Cash for Clunkers? A dud.
So, what are the Democrats doing about this- raise taxes through health care and cap and trade. Are they talking about the unemployment rate in Washington? Nope. The Democrats are basically saying screw you to the unemployed.
The Democrats can pass legislation to give incentives to hire people, give out tax breaks to businesses and create other incentives to get the economy going.
But all Obama is talking about the Olympics and health care. Nice leadership.
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As usual we have entered little Danny's fantasyland.
ReplyDeleteI will grant you one thing. This is not Bush'e economy. This is Reagan's economy.
Umm, no Keith. Reagan reduced the unemployment by reducing taxes.
ReplyDeleteObama has been in office for 8 months and more. When does he eventually get the blame?