Posted on 06/02/2011 2:13:27 PM PDT by AngelesCrestHighway
No American president since Franklin Delano Roosevelt has won a second term in office when the unemployment rate on Election Day topped 7.2 percent. Seventeen months before the next election, it is increasingly clear that President Obama must defy that trend to keep his job. Roughly 9 percent of Americans who want to go to work cannot find an employer. Companies are firing fewer people, but hiring remains anemic. And the vast majority of economic forecasters, including the president’s own advisers, predict only modest progress by November 2012. The latest job numbers, due Friday, are expected to provide new cause for concern. Other indicators suggest the pace of growth is flagging. Weak manufacturing data, a gloomy reading on jobs in advance of Friday’s report and a drop in auto sales led the markets to their worst close since August.
(Excerpt) Read more at finance.yahoo.com ...
Washington will get more than a "little response" in the next election....
UNemployment numbers!
I doubt the socialist experiment is dead. There are too many people, Chamber of Commerce type Republicans included, who believe that government can run the economy. Every little town has its own economic development plans and convincing them that central planning always fails is impossible.
Coming from the NYT, this has to be considered a shot across the bow by the administration. But I doubt anyone in that administration (or in the Democratic side of Congress) has any clue whatsoever of what to do.
Its dead on a national scale. The socialists will return to soap box speeches and yelling......
socialists will further delude themselves by believing that Hussein was not socialist enough
They will lie, cheat and steal to get those numbers down by 2012.
Perhaps the 2010 census will be found flawed, and need to be redone. In order to do it quickly, they will need to hire 5,000,000 currently unemployed (for September and October).
The unemployment rate is a lie. Politicians and the complicit MSM have made that number useless. People do not get counted as unemployed after they are out of work for more than six months... Not when they have actually found a job.
One needs to actually look at the labor force participation rate to determine the true unemployment rate, which is much higher.
Seeing that headline makes almost wish he would go ahead and do it now. Its time for a little cleansing and now looks like as good a time as any. The day is coming I fear, no one knows when, but the day is coming.....red
CAN YOU HEAR IT NOW?
Housing recover by 2012= No.
Jobs growth by 2012 = No.
Gas prices ? if we are in a depression it might come down other than that noway.
Economy grows at 3% No, it contracting.
Food prices will be sky high as Hedge Funds and China buying all the farm land they can find, it seems they know something.
7.2%? How in the world did they cook up that number when we’ve been bleeding jobs for 2 years? There hasn;t been a single month where the jobs created would even cover those entering the workforce every month let alone those who have lost their jobs.
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