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Posted on 09/01/2011 3:58:21 PM PDT by Oldeconomybuyer
The White House budget office forecast on Thursday that unemployment will remain at 9 percent through the 2012 presidential election year, an outlook that it said calls for the sort of the job-creating tax cuts and spending President Obama will propose next week.
The unemployment outlook for the next 16 months reflects a 9.1 percent rate this year, down slightly from the 9.3 percent forecast when President Obama made his annual budget request in February. Next year, the projected jobless rate is 9 percent, up from 8.6 percent in the February forecast.
Unemployment would not return to the 5 percent range until 2017, the budget office said, reflecting the intensity of the hangover from the most severe recession since the Great Depression.
While the budget office’s unemployment forecast for 2012 is no surprise given similar private-sector projections, it amounts to the White House’s official acknowledgement of the political hurdle in Mr. Obama’s path to re-election.
(Excerpt) Read more at nytimes.com ...
Related Thread: http://www.freerepublic.com/focus/f-news/2772188/posts
Posting the NY Slimes version for the record.
the real unemployment is about 20%.
President Cloward-Piven's only goal is to overwhelm the systmem.
expect it? They planned on it.
You’re right about that!
Can I ask a stupid question?
The pres. is giving a major speech to Congress and the nation on jobs. But by saying unemployment will be at 9% all through next year, aren’t they admitting that whatever proposals he comes up with will have no effect on unemployment at all? Since we’re officially at 9.1% now, doesn’t that beg the question of exactly what he wants to do, and what success his proposals will have, if they won’t move unemployment down from the 9% level?????
I know it’s a stupid question, but it occurs to me that they are admitting up front that any jobs program he proposes will be ineffective.
How about this ... for every 1% of average unemployment in the country, every single person on the government’s payroll pay is cut by 3%.
Seems fair to me.
Isn’t socialism awesome?
But wait, as the country goes down we’ll enjoy great public transportation.
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“Unemployment would not return to the 5 percent range until 2017, the budget office said, reflecting the intensity of the hangover from the most severe recession since the Great Depression.”
So its Bush’s fault for a full 9 years...and if re-elected, he will be able to invoke the errors of Bush for an entire second term? Bambi needs to sack up and take responsibility for something.
To the contrary. I'd like to see someone ask it to the Kenyan.
The “Budget office” can’t figure out it’s way of a wet paper bag. Sorry for the cliche, but it’s appropriate.
Well, isn't THAT comforting!!!
Obama is a mess, but no matter what, he will go down in history because he’s special.
How’s that 8% or less working out for you there, AnointedIdiot? =.=
He's not going to run on his record. He'll run on race and division.
It’s Bush’s fault.
So the guy has waited three years to announce his master jobs plan. Rather than wait a few days longer, just days before a Republican debate that had been scheduled with a major network for months, he creates a great big stink.
What does he get for it? He gets sand kicked in his teeth.
His incredibly brilliant Plan B involves competing with the NFL opener next week.
As if he hasn’t already show himself to a complete idiot, he then launches into this.
Before he even rolls out the plan, he send the White House staff out to declare it to be a failure, since they claim unemployment will remain high until election day 2012.
Does this guy have a massive IQ or what? Whew!
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