The Obama Administration has released projections of the unemployment rate expected at the end of 2010, 2011 and 2012, and they are indeed extremely grim news! 🙁
9.8 percent is expected at the end of this year, down only two tenths of one percent from what it is now. That is extremely bad news for Democrats in the House and Senate in the upcoming midterm elections.
In 2011, the expectation is that the unemployment rate will drop to 8.9 percent, a drop of only about a point from the end of 2010. That is very slow progress toward lower unemployment.
And in 2012, as the year ends, and the Presidential election is taking place, it is expected that the unemployment rate will only have dropped another point to 7.8 percent, higher than it was when Obama took the oath of office. This will make Obama’s unemployment rate in office higher than any other President since World War II at the end of the first term of office.
This all bodes badly for the future of the Democrats, as it is likely that the American people will blame the party for the slow progress downward on unemployment. It will make the job of reelecting President Obama all the more difficult! 🙁
“It will make the job of reelecting President Obama all the more difficult!”
..if not downright impossible, thankfully.
Obama did help the unemployment in this country a lot by creating thousands of jobs through trade. The unemployment rate is already 9%, a tenth of a point higher than what you predicted for the end of the year. Now, I do not know if it will continue on its earlier decline or not, but at least Obama tried the best he could, and that’s is why I’m going to try re-elect himin 2012.
Tim, your vote is your vote, have at it… But don’t go around telling us Obama tried.
1 – He passed a billion dollar stimulus promising unemployment wouldn’t go above 8% if we passed it, we got 10%.
2 – He also neglected jobs for the first year in office while taking on health-care, bids for olympics, cap and trade, and closing gitmo. The number 1 priority for the people in this nation, jobs, he neglected, this is lack of leadership and arrogance.
3 – Only an arrogant individual believes government can actually create jobs, the government has very few for profit centers (like the US Postal Service, Fannie, Freddie Mac, and we all know what a success that they have been, need I go on…)
4 – Obama has created 1000’s of jobs in the public sector, however even this is a false economy, he has created job through expansion of government, that is all on a borrowed dime, its all very irresponsible.
I cannot believe you would use the phrase “tried”, i prefer the words dangerous, irresponsible, and arrogant. With projected unemployment rates being at WWII levels when the election comes around I am glad even a liar like Obama probably can bullshit his way through this one…
Bottom line here is he campaigned as a moderate and ran as a bleeding progressive, I think the dishonesty of that event pissed off a lot of people, because one thing we want in a leader is honesty and integrity.. and he doesn’t have either.
With unemployment so bleak, now is the time to take control of our income and our careers. In every economy there is opportunity to make money. The Great Depression yielded more millionaires that any other time in history. If you’ve ever thought about being an entrepreneur, this is the time. And there’s a lot of support out there for people like us. Grants, education, and like-minded people to mastermind with. Getting a grip is up to us.
i agree with that last statement
i also agree with the statment before the first one i agree with because its true that in a depresion more millionairs show up on the news and other areas in tv, magazines, and newspapers
@ duncan if you knew your stuff you would know that the economy was greatly slowed at the end of 2007 and early 2008 before obama was even in office. Economist already predicted a recession for the 2008 year. throughout history we have continually gone through recessions and recoveries. DO NOT BLAME OBAMA FOR EVERYTHING THAT HAS HAPPENED. He entered office in a recession he did not create the recession. It does not matter who was in office they would still have to deal with this mess and it could not be fixed overnight. If you believe that Obama was not and is not trying to help the economy, then how in the world is unemployment declining, consumer spending increasing and investment spending increasing adding to economic growth?
Mary- Stop looking at who is/was POTUS. Obuckethead “inherited a recession?” true, but who controlled the house and senate those last two of Bush and first two of Obuckethead? For that matter, everyone tells us how great Clinton was, what a great job he did with the economy. Again, first two years, H&S were Democrats, in swept the Repubs and the economy took off. Democrats, clueless, business killing, tax increasing, Democrats. The legacy of Obuckethead will be, “I was the worst one term President but it was all the fault of Bush.” Geez, chisle that on a tombstone why don’t you?
Mary, Obama didn’t get elected saying he would prevent a recession. He got elected saying he would end it quickly. He voted against raising the debt ceiling as a senator. He claimed he would get us out of the ME and close GTMO and rallied against the Patriot Act.
From an objective standpoint, judging Obama as he judged Bush, we can see that the “failure in leadership in Washington the past 8 years” did not end with Bush but has continued and may last a second 8 years. I celebrated the end of the Bush era but I will celebrate the end of the Obama era even more.