Posted on 08/08/2009 8:54:39 AM PDT by Son House
The unemployment rate rose to 6.1%, the highest level since September 2003. That's up from 5.7% in July and 4.7% a year ago.
In addition, the economy suffered a net loss of 84,000 jobs in August, according to the U.S. Department of Labor, compared to a revised reading of a 60,000 job loss in July.
The U.S. economy has lost 605,000 jobs so far this year.
The jobs report immediately drew comment from the presidential candidates as well as the Bush administration.
The White House pointed to other economic readings, including last week's gross domestic product report. It showed second quarter growth jumping to a 3.3% annual rate, helped by economic stimulus checks and strong exports.
"While these (jobs) numbers are disappointing, what is most important is the overall direction the economy is headed," said the White House statement.
But the campaign of Democratic presidential candidate Barack Obama said the report points out the failure of Republican policies.
"John McCain showed last night that he is intent on continuing the economic policies that just this year have caused the American economy to lose 605,000 jobs," Obama said in a statement.
"John McCain's answer is more of the same: $200 billion in tax cuts to big corporations and oil companies, and not one dime of tax relief to more than 100 million middle-class families."
The McCain campaign argued that Obama's economic policies would cause more job losses in the future.
"Sadly there are those who believe that to grow this economy we must raise taxes, impose costly new mandates and isolate America from the global economy," McCain said in a statement.
"When our economy is hurting, the last thing we should do is raise taxes as Barack Obama plans to do and has done."
(Excerpt) Read more at money.cnn.com ...
As JohnHuang2 pointed out the media lambasted Bush when unemployment was half of what it is now.... now that the media praise 9.4% since nearly a half million people who are out of work are no longer counted as unemployed
Yep, and just like when President Bush had unemployment rates of 5% or so, the same or lower than rates during some of BC’s reign, the media would blast out the the numbers as though the sky were falling.
Only the ObammyMEdia would spin a quartr-million newly unemployed as “good news”
It also looks like JOhhny McLAme was a bit of a psi whiz when looking at the future....
10/26/06 FOX News Poll: Democrats Preferred on Most Issues
http://www.foxnews.com/story/0,2933,225561,00.html
Democrats are seen as the party that would do a better job on almost all of these most frequently mentioned issues. On handling Iraq, the poll finds that voters prefer Democrats by 9 percentage points,
on the economy by 6 points and immigration by 3 points. Furthermore, on handling issues like health care (+ 34 points) and gas prices (+ 29 points), Democrats have striking leads.
‘The unemployment rate rose to 6.1%, the highest level since September 2003. That’s up from 5.7% in July and 4.7% a year ago. ‘
Well, we know all that was smoke and mirrors thanks to the Feds with fraud from the housing market.
Anyone know what UE was when Pelosi took control of Congress?
CNN poll: GOP takes brunt of blame for economy; Obama gains
http://www.cnn.com/2008/POLITICS/09/22/cnn.poll/
The poll also indicates more Americans think Obama, the Democratic presidential nominee, would do a better job handling an economic crisis than McCain, the Republican presidential nominee.
Watch Obama blast McCain on the economy » [Linked above]
Forty-nine percent of those questioned said Obama, D-Illinois, would display good judgment in an economic crisis, six points higher than McCain, R-Arizona.
And Obama has a 10-point lead over McCain when it comes to who respondents think would better handle the economy overall.
Current conditions are result of the 2008 election.
Sound the alarm.
The ‘Progressives’ are coming, The Progressives are coming.
Just wait until they pass Cap and ‘Trade’.....
WSJ/NBC Poll: Democrats Better to Get Country Out of Recession
By more than a two-to-one margin, Americans believe the Democratic Party is better suited to getting the country out of a recession over the Republican Party, according to the latest Wall Street Journal/NBC News poll to be released today.
Once they saw that Bush had succeeded in Iraq despite whatever mud they could find to throw last year they switched to the economy, convincing many conservatives also that Bush was evil. The teamwork between the Pravda forces and the lying Dem party got their lying hero in. The history is there for all who take time to look at it.
Even ultra left-wing groups like the ADA are stating that the real unemployment rate is far higher than 9.4 percent touted by the Obama administration. Check this:
http://www.commondreams.org/newswire/2009/08/07
Sept. 24, 2008
Poll: Economic Discontent Boosts Barack Obama Over John McCain
http://abcnews.go.com/PollingUnit/Politics/Story?id=5866046&page=1
Barack Obama has seized the reins of economic discontent, vaulting over John McCain’s convention gains by persuading voters he both better understands their economic troubles and can better address them.
The public is cool to the bailout itself, underscoring economic uncertainty.
Eight in 10 are worried about the economy’s future, half of them very worried. Personal concern runs high as well; six in 10 are worried about their family’s finances. And 83 percent say the country’s seriously off on the wrong track, back within a point of its record high — set just this June — in polls dating to early 1970s.
All these work for Obama.
He’s recovered to a 14-point lead over McCain in trust to handle the economy, and leads by 13 points specifically in trust to deal with the meltdown of major financial institutions.
Obama leads by more, 24 points, 57-33 percent, in better understanding the public’s economic problems.
Let’s all remember these numbers when our neighbors and friends talk about how the latest unemployment figures are the fault of George W. Bush, not Obama.
Excellent flashback. Thanks.
The dimocrats are such hypocrites!
The puppet media have been preparig very different headlines for whe the Obama would be installed in office.
Only the Antichrist has this much influence in our world.
“John McCain showed last night that he is intent on continuing the economic policies that just this year have caused the American economy to lose 605,000 jobs,” Obama said in a statement.”
LOL!
Boy, what people wouldn’t give NOW for an economic policy that only bled 605,000 jobs a YEAR. zerO’s inept “tax-and-spend your way out of recession” policies have led to job losses almost that high in a single month. What are we up to since inauguration day? 3 million? 4 million?
Remember, this is the “mess” Axelrod and Co are trying to convince people O inherited.
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