Friday, February 17, 2012
"The Great Unemployment" at +8% thru '14
Joe: it seems it will be hard for Obama to argue for the effectiveness of the “stimulus” if unemployment remains above the 8% figure until 2014 as suggested below. Whatever happened to “shovel ready jobs? There is a very detailed website that offers mind numbing detail Stimulus Watch 2.0, anyway you look at it the President wrote some unemployment checks he can’t cash but there’s always the Fed who can print out some more bills. On the other hand as long as the American people are not engaged, politicians on the left like Obama and on those on the right like Bush – who spent like crazy, they all just slide. -Bob
By ALEX M. PARKER February 16, 2012
After three years with unemployment topping 8 percent, the
has seen the longest period of high unemployment since the Great Depression, the Congressional Budget Office noted in a report issued today. U.S.
And, despite some recent good news on the economic front, the CBO is still predicting that unemployment will remain above 8 percent until 2014. The report also notes that, including those who haven't sought work in the past four weeks and those who are working part-time but seeking full-time employment, the unemployment rate would be 15 percent.
The CBO made its comments in a report examining the long-term effects of joblessness, and possible policy options to boost employment, including unemployment insurance reforms and job training programs. The report came at the request of Democratic Michigan Rep. Sander Levin, but Republicans quickly jumped on the chance to bash President Obama's stimulus program, which is also reaching its three-year anniversary today.
"The stimulus is a stark reminder of how the president got the policies he wanted, and how those policies have failed the American people and are making things worse," said Texas Republican Rep. Jeb Hensarling.
October 13, 2010 11:45 AM
With unemployment hovering near 10 percent nearly two years after President Obama signed his economic stimulus package, Mr. Obama is acknowledging that, despite his campaign promises, "there's no such thing as shovel-ready projects."