Despite claims by President Obama and Democrats that unemployment would stay under 8% if the Stimulus Bill was passed, unemployment numbers released this morning showed that 10% of Americans are without jobs.
Sure, we’ll hear the spin that this is Bush’s fault– remember, Democrats controlled Congress the last two years of his presidency, and that the economy was worst than Obama thought– remember, these are the same people who claimed this was the worst recession since the great depression.
Bottom line is that the $800 billion stimulus bill was nothing more than a payback to the special interest and groups that helped propel Obama and the liberals to power and actually slowed any recovery in the economy. Had Obama and the Democrats actually gave $400 billion in tax cuts to working families and small businesses rather than wasting $800 billion, we would have been out of this recession a lot sooner.
From the AP:
The Labor Department says the economy shed 11,000 jobs last month, an improvement from October’s revised total of 111,000. That’s also much better than the 130,000 Wall Street economists expected.
But the respite may be temporary, as many economists expect the jobless rate to keep climbing into next year as the economy struggles to generate enough jobs for the 15.4 million people out of work.
If part-time workers who want full time jobs and laid off workers who have given up looking for work are included, the so-called underemployment rate also fell, to 17.2 percent from 17.5 percent in October.
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