Wonder what you would find if you frisked the U.S. economy?
Answer: An unemployment rate of 10.2%…
Ouch! Unemployment has now hit double digits for the first time in 26 years. Thank you Barack Obama:
The unemployment rate rose from 9.8 to 10.2 percent in October, and nonfarm payroll employment continued to decline (-190,000), the U.S. Bureau of Labor Statistics reported today. The largest job losses over the month were in con- struction, manufacturing, and retail trade.
In October, the number of unemployed persons increased by 558,000 to 15.7 million. The unemployment rate rose by 0.4 percentage point to 10.2 percent, the highest rate since April 1983. Since the start of the recession in December 2007, the number of unemployed persons has risen by 8.2 million, and the unemployment rate has grown by 5.3 percentage points.
Hey, remember when President Obama and his administration promised this:
It appears the Messiah (Obama) was WAY off. Well, what about this promise?:
This guy is unbelievable! He will honestly say what people want to hear:
In January, President Obama said that $787 billion stimulus package was desperately necessary to prevent more Americans from losing their jobs.
“For every day we wait or point fingers or drag our feet, more Americans will lose their jobs,” Obama said at a speech in Fairfax, Virginia. on Jan. 8. At that time the unemployment rate was 7.2 percent. Obama also claimed that the country would face double-digit unemployment without the stimulus package while the Congressional Budget Office forecast was slightly lower: 9 percent unemployment by 2010.
To boost support for his stimulus, Obama’s economic team released a report that estimated unemployment wouldn’t rise above 8 percent with a stimulus package, according to Associated Press. Even without a stimulus, Obama’s team echoed the CBO claim that the economy would shed 3-4 million more jobs, reaching 9 percent unemployment by 2010.
Side-Note: Dang… I’m a recent college graduate and this really sucks for me. I can’t understand the people who are still believing these outrageous lies coming out of the White House! Good thing liberals are trying to push through a $1.2 TRILLION socialized health-care plan while the unemployment numbers keep skyrocketing… They really have their priorities straight… Not at all.