Monday, September 5, 2011

19 million American out of work

August Jobs: Obama Blew It

By  | Sep 2, 2011
The August jobs report is out and it was even worse than last month. The Labor Department said the US economy did not add ANY jobs last month (and the previous two months were revised lower by 58,000), the unemployment rate remained at 9.1 percent and 14 million Americans are still out of work (23 million if you include part-timers who want to be full-time).
That this report comes just before Labor Day weekend is a cruel coincidence. That the report comes days before President Obama delivers a “major” speech about jobs underscores a basic fact: Obama blew it on jobs.
Let’s go back to the video tape on this topic. When Obama took office in January 2009, the US economy lost over 600,000 jobs. That was followed by February and March, when similar numbers were reported. And yet, the Obama Administration didn’t seem to grasp the depths of the problem and instead put forth a stimulus package that was too small and not targeted enough on job creation.
Maybe time is running out for Obama. American people still have hope on him so he better do something fast before things get worst. To be only one term president would not look good on him. Not so many US President had lost for reelection although the last was the Republican George H W Bush. He was a US President from 1989 to 1993. Before that was a Democrat Jimmy Carter serving from 1977 to 1981. He lost a campaign for re-election in 1980 to Republican Ronald Reagan.

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