Unemployment at 10.2%
John on November 6, 2009 at 8:21 am
From Politico:
Democrats – headed into an historic health care vote this weekend — got smacked in the face with a 10.2 percent unemployment rate in October, the government reported Friday.
The jobless rate is well above the 9.9 percent that economists expected and breaks the psychological barrier of 10 percent, topping double digits for the first time in 26 years. It’s the last headline the Obama administration wanted to see going into the House healthcare vote, and White House officials were already heading to the airwaves Friday morning to talk up the economy.
In all, employers shed 190,000 non-farm jobs last month.
The tough numbers arm House Republicans with fresh political ammo against the trillion-dollar House health care bill, which could come to a vote as early as Saturday. The GOP has been relentlessly pushing the narrative that Democrats are obsessed with creating ever-bigger government at the expense of the economy, and Democratic response to the bad employment news was thin on Friday morning while Republicans pounced.
[...]
Obama aides nevertheless were dismayed by the worse-than-expected figure. The White House activated a plan calling for the president’s economic advisers to hit the cable channels at 9:30 a.m. A written presidential statement is also planned.
Begin the spin! Funemployment for all! How about this tried and true response: “I meant to do that.”
Paul Krugman has a bad feeling about this and is wishing Obama had listened to his plea to spend a lot more money, more quickly.
Category: Energy & Economy |
Since the government can’t solve the problem, it’s time the people start facing unemployment with their own ingenuity:
Do it at Home, America!
(satire)
November 6, 2009 @ 8:41 amAs long as the Administration is on the attack against the private sector, and signaling substantial tax increases in the future (via profligate spending and a run-away deficit), there will be no wide spread revival of economic growth.
Unfortunately their only likely response to this will be to do what Krugman is advocating and try to pass another
November 6, 2009 @ 8:49 amwealth transfer“stimulus” bill.All we need now is for inflation and interest rates to hit double digits and then we can officially declare that we have been visited with the reincarnation of Jimmy Carter. With the losses in Virginia and New Jersey and now this 10.2% unemployment rate, these guys better start getting nervous about the elections next year. I don’t care how good Obamanure reads off a teleprompter, if people aren’t working his party will take a beating next November. The real truth is that this community organizer has no clue in the area of economics. In fact, the word doesn’t appear in any of his law books. All we need now is for the healthcare bill to fail, let the country continue to rot and then we’ll see some stunning results next November as Democrats run as far away from Obamaure as they can.
November 6, 2009 @ 9:17 amMy wife always says:
November 6, 2009 @ 11:25 am“Carter begat us Reagan”.
(crossing all my fingers and toes)
So while you guys are blaming Obama for Bush’s incompetance, I would like to ask you a question:
What do you think about Democratic Representative Alan Grayson?
I mean this guy is ripping your guys a new A**hole.
I haven’t seen any posts about him here.
November 6, 2009 @ 11:46 am3.9 years from now there will be those who say it was all due to “Bush’s incompetence”.
The reality is the recession would have been over by now if a) they allowed the bankrupt cos. to go bankrupt b) reduce the taxes of both small, medium and large cos. along with the average middle class and c) no new spending by the feds. The employers would have been hiring and optimism would be back. Like all liberals though, Obama and fellow thugs are still in despair and depression and cast the blame on someone else. They are like a number of other people in the country who will never take responsibility for their own failures.
By the way Susac, Grayson is the total A**hole and perhaps, by extension, your admiration of him speaks volumes of yourself.
November 6, 2009 @ 7:18 pmOK, that’s pretty much what I thought you’d say.
November 6, 2009 @ 7:24 pm