Unemployment Rate Hits 8%

Obama touts economic gains amid grim news | Politics | Reuters

President Barack Obama tried to highlight some good news and tout his economic plan on Friday, but the grim reality of plunging employment and faltering stock markets once again stepped on his message.

Well, unlike political campaigns, you can’t bluff your way through running a country. (Though we all know some politicians have tried hard to do just that.) 8% official unemployment is 8%. (Actual unemployment is likely some points higher, say 10-12%. Some analysts suggest it may be as high as 13.9%.) Can’t hide that for ever.

Actually I’m somewhat surprised Americans haven’t been out in the streets rallying or properly protesting corporations and political leaders over not only unemployment but the usurious nature of credit card companies and the corruption in the banking and financial institutes. Then again, many Americans have become sheeple so perhaps I should not be surprised.

Obama faces a rising tide of Republican criticism and Wall Street worries about his economic approach, with some conservative market analysts laying at least partial blame for the slide on his policies.

Don’t forget Democrats, Independents, Greens, et. al. who are joining the chorus of criticism. Actually I’m impressed an MSM outlet actually dared even note that recent policies may have added to the problem. (Of course, they make sure it’s ascribed to conservative market analysts, ignoring that even liberally minded analysts have bee critical.)

“We inherited a big mess,” he said.

You can’t blame Bush for the Democrat controlled Congress’ policies, Mr. President. Oh wait, that would mean he would have to admit his own culpability with the other corrupt officials in Washington in screwing things up. Can’t have honesty now, can we?

U.S. vows to break destructive cycle of job loss | Politics | Reuters

Unfortunately Secretary Solis falls into the destructive and counter productive notion that you can buy your way to prosperity. Stop trying to over control the economy and it will take care of itself, eventually.


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