Posted on 08/04/2010 11:31:16 AM PDT by SmartInsight
Friday, forecasters expect the Labor Department to report the economy shed 70 thousand jobs in July and unemployment rose to 9.6 percent.
The massive permanent expansion in federal spending and regulatory oversight built into President Obama's budget is discouraging private hiring by raising fears of higher taxes and regulation.
The president's moratorium on deep water drilling, though popular with environmental fundamentalists, kills jobs two ways-directly, by laying off workers in the oil and gas industry and indirectly, by sending too many consumer dollars abroad that could be spent here.
(Excerpt) Read more at finance.yahoo.com ...
I beleive that by September the unemployment number will be back to 10% or worse which means the real number is north of 20%.
Unexpected?......
When do the census jobs expire?
If Obama would reverse course 180 and CUT income taxes, investment taxes etc., the economy would turn around. But...being the committed leftist ideologue that he is, I don’t expect this to happen.
Darkens?
“unexpected”.......”Bush’s fault—inherited”......”summer of recovery”....... =.=
Outlook darkens for Obama?.....
From the article:
Bush deficit: $161B
Obama deficit by 2011: $1.3 TRILLION
Obama increased the deficit by 800% (a FACTOR of 8!!!) over Bush and he is still blaming everything on Bush.
I hope people will start to catch on to Obamanomics.
If the unemployment numbers are north of 10% by September then the Democrats are toast in November. They better have some good economic news in the next month or nancy will be looking for a new job.
Census jobs are expiring right about now — they artificially presented a picture of improving job situation, because they counted the short term min wage jobs as permanent jobs, now it’s catching up with them, because the economy has not improved.
Since after WWII the labor force has always grown each year except for the last two years under Obama in which the labor force has decreased.
At this point he'd have to do even more to turn things around. He'd have to dump that horrid financial regulations bill which has private enterprise frozen in their tracks.
“At this point he’d have to do even more to turn things around”.....
There is nothing he can do now to prevent a total collapse of his agenda....He stormed ahead and the American people are storming back! Goodbye B.O....We hardly knew you!
And once again libtards learn that Americans reject far left radicalism!
IF THE MEDIA DID NOT LIE FOR satan... THEY WOULD TELL THE TRUTH... WE ARE MUCH CLOSER TO 19.6% UNEMPLOYMENT THAN WE ARE 9.6%.
LLS
bttt
The Obama Administration has the car stuck in the mud up to the bumper and the pedal to the medal. We ain’t going anywhere
What does Peter mean by ‘fears of higher taxation’? Anyone with any common sense knows that the ‘bill’ is coming due without any action from Congress/PresBO. The ‘Forgotten Man’ will be left holding an empty wallet when Obama’s through looting and pillaging.
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