Wow, just imagine what the unemployment rate would be if Obama and Congress hadn’t saved the economy:
The U.S. unemployment rate rose to 10.2 per cent in October from 9.8 per cent, as non-farm payroll employment declined by 190,000.
The number of unemployed persons increased by 558,000, to 15.7 million, during the month, the U.S. Bureau of Labour Statistics said Friday.
Obama called the new numbers “sobering,” which just proves how out of touch he is with Main Street, because this kind of news makes people start drinking — not stop.
The Obama administration continues to parrot the line that the trillion-dollar stimulus “saved or created more than 1 million jobs.” If that’s the case, they should pass 15 more stimulus bills and the unemployment rate would be zero, right? Why don’t they do that?
Incidentally, the “surface” cost of the stimulus was said to be $900 billion — which would have been enough to send every unemployed person in America a check for almost $58,000.
I can’t wait until Nancy Pelosi and Company get their cloven hooves on our health care. At least we’ll get free end of life counseling while we’re starving to death in the unemployment line.
Joke of the Day:
“Did you hear this? President Obama has approved a new plan to pay members of the Taliban to switch sides and support the United States. In a related story, 10 million unemployed Americans just joined the Taliban.” Ã¢â‚¬â€œConan O’Brien
Big Government has the following chart showing the Obama admin’s projected unemployment rate with the stimulus and without — and the red line is how it’s actually played out. They were just as off-base in budgeting Cash for Clunkers — but I’m sure they’ll get health care right: