- Just last week, 570,000 workers lost their jobs and those remaining on unemployment comp grew by 92,000.
- Retail sales were down an overall 2.1 percent despite back-to-school spending.
- It was announced that food stamps are now being used by more than 35 million people
- Also announced was the fact that 1.3 million unemployed will lose their benefits by the end of the year.
He seems to overlook the fact that Americans have been losing their jobs, on a weekly basis, at a clip that is greater than all the jobs he seems to think were being saved or created by the stimulus plan. To say that the stimulus is more "than we hoped" is just as dopey. We are well past the 8% unemployment rate that Obama promised would be the unemployment ceiling when the stimulus bill was being rammed through Congress. Many economists now feel like we are beginning another downward fall in what could easily be a double-dip or "W-type" recession.
I don't know if Joe is off his meds or if he just woke up from some kind of "midsummer's night dream"; but, he must think that Americans are totally unaware of the real facts about the state of this economy. Maybe he was somewhat confused. Maybe he was referring to the 10-year budget deficit as being "more than we had hoped" which is now project to be $9 trillion after this President's economic team had originally said -- just 5 months ago -- that it would "only" be $7.4 trillion. Is that it, Joe!
Posts
No comments:
Post a Comment