Big surprise, the "recovery" didn't work as expect

[RoyalShock]

at least as it relates to unemployment.

http://michaelscomments.wordpress.com/2009/05/08/the-april-numbers-are-in-its-official/

[SubGod22]

That doesn't surprise me one bit.

[Ixiah]

I am really getting fed up with these "cures". I read somewhere the other day that they were wanting to retrain auto workers who lost thier employment to "green" jobs. You have got to be kidding me.... :banghead:

[jdmee]

Michell Malkin : Washington Can't Meet the Cheerios Standard

Washington told us the "stimulus" projects were "shovel-ready" and would provide immediate relief. They're not. The New York Times notes that the program "has paid out less than 6 percent of the money, largely in the form of social service payments to states."

The White House claims 150,000 jobs have been "created or saved." But since February, the nation has lost more than 1.3 million jobs. The current 8.9 percent unemployment rate in the wake of the stimulus passage is worse than the 8.8 percent unemployment Obama's economists darkly predicted if Congress didn't immediately adopt their recovery plan.

[ShockerPrez]

Actually it is working out as expected. As long as you aren't talking to a blind Obamahead.

[kcshocker11]

To early to tell-

[jdmee]

No its not to early to tell that 8.9% is greater than 8.8%.

[kcshocker11]

No its not to early to tell that 8.9% is greater than 8.8%.

Most stimulus projects dont even begin til this summer or later . Less than 10 % of the money as be given out and many of those projects havent even begun. When estimating 8.9 to 8.8 (This is not an exact science) is pretty close. Its going to take time. It took awhile to get in to this situation and its going to take time to get out. Those that dont like PBHO are going to critize everything he does. Take a look at the majority of the topics in the off topic section and and trace the news sources. Most are from right wing blogs, or ultra right wing sources. It would be like a pro PBHO person quoting Air America. Hang in there, better economic times are on the way. We are Americans and our can do spirit will succeed. 8)

Here is a good article on this, we are in uncharted waters only time will tell

http://www.dailyfinance.com/2009/05/03/hows-that-787-billion-stimulus-plan-working-out/

So I'd give Obama an incomplete on his stimulus package -- but at the rate that the money has been going out it looks like it won't be completely spent for another 18 months. Nevertheless, I am hoping that the early stimulus spending will start to create U.S. jobs soon.

Finally, to show how that hope is turning into reality, I'd advise Obama to spend time each week talking about the new jobs that the stimulus spending creates.

Pretty fair accessment Id say!

[SubGod22]

Stimulus Aid Favors Welfare, Not Work, Programs

[jdmee]

Another great stimulus month

May unemployment is expected to rise to 9.2% from 8.9%.This would be the highest level for the US unemployment rate since 1983.

[ShockerGorilla]

Another great stimulus month

May unemployment is expected to rise to 9.2% from 8.9%.This would be the highest level for the US unemployment rate since 1983.

Mission accomplished?!! :noidea:

[SubGod22]

Unemployment Rate Climbs to 9.4 Percent in May, Highest in 25 Years

[KC Shox]

Rome wasn't built in a day, but I forgot that all you Obama bashers think it should. I feel sorry for Obama having to clean up the former screw-up mess. Get real.

You think you can do better. Run for President.

[ABC]

What a surprise KC Shox.

The Obama adminstration sold their huge spending plan at least in part by saying that if the Congress didn't pass it, then we'd have 9% unemployemnt.

And what happened with all of the spending? We have 9% unemployment.

Can you give me an example when this kind of government spending and deficit enlargement led to economic growth?

[1979Shocker]

Temp work covers up depth of unemployment

Because of the surge of hiring for the census, April unemployment only rose to 8.9 percent — a much slower increase than had been feared. Figures out today show unemployment now stands at 9.4 percent.

But consider these numbers:

• The 9.4 percent May unemployment rate is based on 14.5 million Americans out of work. But that number doesn't include discouraged workers, people who gave up looking for work after four weeks. Add those 792,000 people, and the unemployment rate is 9.8 percent.
• The official rate also doesn't include "marginally attached workers," or people who have looked for work in the past year but stopped searching in the past month because of barriers to employment such as child care, poor health or lack of transportation. Add those 1.4 million people, and the unemployment rate would be 10.6 percent.
• The official rate also doesn't include "involuntary part-time workers," or the 2.2 million people like Noel who took a part-time job because that's all they could get, plus those whose work hours dropped below the full-time level. Once those 9.1 million workers are added to the unemployment mix, the rate would be 16.4 percent.

All told, nearly 25 million Americans were either unemployed, underemployed or had given up looking for a job in May.