Posted on 06/17/2010 7:56:33 AM PDT by moose2004
Factory activity growth plummeted in the U.S. Mid-Atlantic region in June, a survey showed Thursday, adding to worries that the short and tepid U.S. economic recovery is now fizzling.
(Excerpt) Read more at cnbc.com ...
Business has gone Galt
Note to Republicans: Take 10% unemployment and use it to beat the Baraqqis like a rented mule.
I think we’re looking at 10% unemployment for a long time.
http://hotair.com/archives/2010/02/11/wh-unemployment-will-get-worse-in-2010/
The administration’s downbeat 95,000 monthly jobs projection follows a similar cautious forecast offered with the president’s proposed fiscal 2011 federal budget on Feb. 1. Romer and budget director Peter Orszag then projected that unemployment would remain high, at 9.8 percent late this year and 9.2 percent at the end of 2011.
This was all predictable, but, by God, we shouldn't take any great pleasure from this. Alot of people are getting hurt badly.
Bright side: maybe, finally, a solid majority will reject socialism for a generation or so...
Wow, and I remember when Obama, Biden, Reid and Pelosi promised everyone that by passing Obama’s “stimulus” that unemployment would never go above 8%. More Dem/Obama lies.
Thank you for the graph.
Sorry for the double post! :)
I keep meaning to do a mashup of Obama and his cronies singing “Hey Jude” with Paul McCartney while superimposing photos of the gulf, the unemployment lines, the foreclosed houses and the sinking S. Korean ship and images of Iran nuclear testing. It would probably last thirty seconds on Youtube before being pulled.
The graph is a little dated. The red (actual) unemployment line continue to spike to over 10% and then leveled out. It would be interesting to see this graph updated next April. I believe the gap between the projected and the actual lines will widen significantly, demonstrating the utter failure of the stimulus.
An “unexpected” development.
No worries at all.
I think your right.
Okay best case scenario. Reps wins control of the House and Senate this November. But what are they going to do with it.
They better have a plan for cutting Spending and Creating Jobs. or Zero will run against them in 2012 blaming all the countries current economic woes on the Reps.
As of now Has anyone heard a plan out of the Reps. If not then we need to FIRE them all.
Very unexpectedly unexpected.
Yeah ... same thing with Obama care that came in at $980 billion. Can't go over that $1 trillion mark. Fact is the cost will be closer to $1.6 trillion, probably higher.
And change tax withholdings to starve the beast..
This unemployment episode is not funny. Graduting students are having problems finding jobs. High school students aren’t getting summer jobs. Some people are at their wit’s end.
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