Friday, November 6, 2009

An 11% Unemployment Rate by June?

To many, this morning's unemployment rate of 10.2% was unexpected. But, I have been complaining for a long time now, that each month's numbers were not making sense and were just too low. I was surprised last month when we only came in at 9.8%. I really thought we should have seen 10%. Then, when we saw this month's unemployment jump to 10.2%, it would have made more sense. Instead, because of the appearance of past low-balling, we saw a jump of nearly 1/2 percent in a single month to take us to 10.2%.

This Administration can talk all day about jobs being saved or created. But, 10.2% is the reality. It's the bottom line. This number means that we could easily see a 10-1/2 percent unemployment rate by January's report (reported in early February). Also, it is "not" unreasonable to believe that we hit 11% unemployment with the June's report; assuming that the economy continues to falter and they stop playing games with the numbers.

Let's not forget that Obama promised a ceiling of 8 percent unemployment if his stimulus package was signed into law immediately. Well, he and his lemmings in Congress did exactly that. But, when unemployment easily swept past that 8 percent, he then reneged on his previous promise and said that it "could" hit 10 percent this year. Well, that "8 percent" is long gone and that "we could hit 10 percent" has, too, been left in the dust. Now, that 10 percent prediction is looking like it will easily give way to a reality of 10-1/2 percent by year's end; with an 11 percent or higher rate for next year. Obviously, Obama can't be trusted to predict anything about this economy.

Now, this same President and these same Democrats want us all to believe that their health care reform will do exactly what they are promising. Once again, they are using that same sense of immediacy that was the keynote of their failed stimulus package. I'm just wondering when this country will finally stand up in unison and say enough is enough. All these "trust me" moments are just false promises. All the "hope" that Obama talked about on the campaign trail appears to be the "hope" that we, the American people, won't finally figure out that he is completely full of B.S.

1 comment:

bondwooley said...

Since the government can't solve the problem, it's time the people start facing unemployment with their own ingenuity:

http://bit.ly/ozqT6

(satire)