[Guest post by DRJ]
A blogger wonders whether unemployment will be President Obama’s Katrina, the event that exposed “critical weaknesses in the priorities and competence of the Bush administration.” But it’s not just any blogger, it’s a Huffington Post blogger. In fact, it’s Arianna Huffington herself:
“Which makes one wonder: what [...]
With his “stimulus” boondoggle going bust and unemployment at its highest rate in a quarter-century, in California at its highest rate since Barbara Boxer was in Kindergarten, the president is at his wits end; he doesn’t know what to do.
So, he’s holding a jobs summit at the White House and [...]
Still, not all signs are negative. The state gained 25,700 jobs in October, reversing a trend that's seen California lose 687,700 [...]
What's the problem?Had President Obama not claimed the Democrats’ “stimulus” would keep unemployment at or below 8%, he would not “own” the jobless rate so early in his term. But, now it’s his problem in more ways than one. ABC’s Rick Klein contends: “The administration asked for this — dare [...]
Had President Obama not promised the “stimulus” which passed at the start of his term would keep the unemployment rate down below 8%, with multitudinous new jobs created driving that percentage down even further, he–and his party–would not own the increasing unemployment rate as they now do.
Nationwide, nearly three million [...]
Fed officials say recovery will be hampered by unemployment
“Hampered”?
[...][Posted by Karl]
Folks from Allahpundit to Robert Reich are noticing the same thing:
Obama’s focus on health care when the economy is still so fragile and unemployment moving toward double digits could make it appear that the administration has its priorities confused. While affordable health care is important to [...]
I don't think there are many people who believe that our elected officials reflect the people that they're supposed to represent. Here's some data to back up that belief in a Politico.com posting.
Talk about bad timing.
As Washington reels from the news of 10.2 percent unemployment, the Center for Responsive' [...]
Question:
10.2% Unemployment Rate. That’s the ‘official’ rate. The real rate is probably more like 17%, counting underemployment and those no longer counted.
The verdict so far on the stimulus bill and construction job [...]
Ten months ago, just days before a new dawn in America, then President-elect Barack H. Obama told us that
Economists from across the political spectrum agree that if we don’t act swiftly and boldly, we could see a much deeper economic downturn that could lead to double-digit unemployment and [...]
Sane people know that unemployment has been above 10% for months,** but there comes a time when it is so bad for so long that not even "the most powerful man on Earth" can keep the number hidden. Drudge doesn't sugar coat it.
And this handy chart puts' [...]
Figures released today showing unemployment nationally at 10.2 percent suggest that those who proclaimed the end of the recession when GDP rose 3.5 percent during the third quarter were more than a little premature. Is a “jobless recovery” really a recovery?
Unemployment is likely to sack consumer confidence further, and [...]
Unemployment at 10% of the job-seeking labor force. When the actual percentage of under-employed and discouraged workers is added to technically defined "unemployed", the "unemployment" rate is probably close to 20% (see The New York Times, David Leonhardt, "Broader Measure of US Unemployment Stands at 17.5%", November 6, 2009 [H/T [...]
Nancy Reagan, President Barack Obama, Senator Richard Lugar (R- Indiana) and Representative Elton Gallegly (R-Simi Valley)
From the press release:“The unemployment numbers released today underscores what I have been saying for months – Congress should be focusing on real job-creation legislation. It should be Congress’s [...]
National unemployment rate hits 10.2%. Economists had forecast an increase to 9.9%.
Since December 2007, employers have shed 8.2 million jobs, sending the unemployment rate up 5.3 percentage points. The ratio of job cuts to losses in gross domestic product, or GDP, in this recession' [...]
Congress voted today to extend the $8,000 tax credit for first time homebuyers, to extend unemployment benefits, and to provide tax refunds to companies losing money. It wasn't a controversial bill in the least. It passed the Senate 98-0 (and I don't think you could get a unamimous Senate [...]
John Mauldin argues that inflation is not an immediate problem. The immediate problem is deflation. The deflation in prices is and will be caused by decreased, indeed, crippled consumer demand. Unemployment is up, percent of the population not in the labor force is down, wages are lower and going [...]
