Articles

It's the Economy, Stupid

June 03, 2009

Tomorrow will likely bring more bad news for President Barack Obama on the number one issue for voters -- the economy. The Labor Department's monthly job report will almost certainly show unemployment topping 9%, with a couple hundred thousand more jobs lost in May.

It will get worse before jobs get better. Congressional Budget Director Douglas W. Elmendorf recently predicted that unemployment will continue rising into the second half of next year and peak above 10%.

Mr. Obama has an ingenious approach to job losses: He describes them as job gains. For example, last week the president claimed that 150,000 jobs had been created or saved because of his stimulus package. He boasted, "And that's just the beginning."

However, at the beginning of January, 134.3 million people were employed. At the start of May, 132.4 million Americans were working. How was Mr. Obama magically able to conjure this loss of 1.9 million jobs into an increase of 150,000 jobs?

FULL ARTICLE: http://online.wsj.com/article/SB124407228244683091.html

Related Article

B041ee8e2a6eb9fe33874636c2950fc3
July 11, 2024 |
Article
President Biden insists he’s staying in the White House race. ...
Deaa2b9d505847ab13a089dbae6eeedd
July 04, 2024 |
Article
I see it every day that I’m home. The frame and text are lighter than when it hung on the walls of the simple houses in which I grew up. ...
0145388a2874f544b246d884c9298f56
June 27, 2024 |
Article
Both the Trump and Biden campaigns appear to be focused almost entirely on their party bases. ...
1a859b23c26673fdd445f2931ea3c399
June 20, 2024 |
Article
Joe Biden and Donald Trump will enter CNN’s Atlanta studio next Thursday for the most important 90 minutes of this election season.  ...
Button karlsbooks
Button readinglist
Button nextapperance