The Conservative Cave
Current Events => Economics => Topic started by: NHSparky on July 14, 2009, 11:29:53 AM
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Obama: Unemployment likely to keep ticking up
By BEN FELLER, Associated Press Writer
LINK (http://news.yahoo.com/s/ap/20090714/ap_on_go_pr_wh/us_obama)
<excerpt>
WASHINGTON – President Barack Obama on Tuesday declined to predict how high unemployment will climb but made clear he expects it to keep worsening for a while as hiring lags behind other signs of economic recovery.
"How employment numbers are going to respond is not year clear," the president said on a day when he was headed to Michigan, home of a particularly battered economy. "My expectation is that we will probably continue to see unemployment tick up for several months."
The unemployment rate stands at 9.5 percent, the highest in 26 years.
Obama, addressing reporters in the Oval Office, said the stabilization of the financial markets has allowed banks to start lending again and some small businesses to stay afloat. But he said his administration is aware that the most important factor is whether people are able to get good-paying jobs.
More than 2 million jobs have been lost since Congress passed Obama's $787 billion economic stimulus package. Without that government intervention, Obama said, states like Michigan would be even worse shape because they would have had to lay off more teachers, firefighters and other workers.
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Wait a sec--didn't Obumble say unemployment wouldn't get above 8 percent?
Yep--that hopeychangey thing is going real well so far, libtards!
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And I still haven't gotten my Free PonyTM.
Aw, Hell who are they trying to kid, they knew that the so-called "Stimulus Package", was just a DimRat wish list from the last 50 years. There was little in there to help the economy recover, and they knew that from the start. Some of the DimRats are tipping their hand, though , by already talking about "Stimulus 2:The Second Eff U".
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WASHINGTON (AP) - President Barack Obama conceded Tuesday that the unemployment rate will keep growing for "several months" as he prepared to head to battered Michigan to unveil a plan to help train people for the next generation of jobs.
Obama is proposing a multibillion-dollar investment in the nation's community colleges, a $12 billion effort to help the two-year institutions reach, teach and train more people for "the jobs of the future." He was to outline his program in a speech Tuesday afternoon at Macomb Community College in Warren, Mich.
Before leaving town, Obama was pressed on how high the unemployment rate might climb. In Michigan, the jobless rate is 14.1 percent, worst in the nation.
"How employment numbers are going to respond is not yet clear," Obama said after a meeting with Dutch Prime Minister Jan Peter Balkenende.
"My expectation is, is that we will probably continue to see unemployment tick up for several months," Obama said. "And the challenge for this administration is to make sure that even as we are stabilizing the financial system ... are people able to find good jobs that pay good wages?"...
http://www.breitbart.com/article.php?id=D99EB86O3&show_article=1
Pony delivery may be delayed. This must surely nail the stimulus being anything other than political payoffs nonsense.
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Dupe. http://www.conservativecave.com/index.php/topic,30957.0.html
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P
http://www.breitbart.com/article.php?id=D99EB86O3&show_article=1
Pony delivery may be delayed. This must surely nail the stimulus being anything other than political payoffs nonsense.
Pony delivery is a lagging economic indicator.
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Boy! Took a real brain surgeon to figure that one out!
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Boy! Took a real brain surgeon to figure that one out!
Kinda makes ya glad we gots a whiz-kid like Ø to oversee this terrible * economy, don't it? :fuelfire: :texas: