Obama Expects Unemployment Figures to “Tick Up for Several Months,” Despite Economy Stabilizing

The vice president said the Obama administration “misread how bad the economy was” but they still stand by its stimulus package and believes the plan will create more jobs as the pace of its spending gains momentum.
But, but, but, Obama said his stimulus package had to pass “right away” so that the unemployment rate wouldn’t reach 8 percent by May.
I’m starting to think they don’t know what they are doing.

Who pays for him to fly all around the country to ” just make ANOTHER speech”
and when will these people get tired of the speechs and start demanding some results?

“We contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle” — Winston Churchhill

Anyone else notice that The One no longer refers to the “4 million jobs that will be saved/created” through passage of the “stimulus” package? And remember that he stated the overwhelming majority of these jobs would be created within the private sectors?
Now it’s all about teachers, cops, and firefighters. No mention of the private sector…

“I think the economy will eventually turn around and some will point at the stimulus as a success. We’ll still have to pay for it, though.”
The economy at some point will turn around (in spite of the “stimulus”). But the economy will not be a complete recovery, rather it will be a “semi-jobless” recovery with historically high unemployment rates. The private sector and investors do not have confidence and trust in this administration and this Congress.

How much is it costing us to send him to the all-star game???!??!!?

Obama is all in a panic about his stimulus going to pot. And despite his continuing positive talk about it and “hope” rhetoric, in addition to the overly accomodating media, the public is slowly getting wind of this President’s failings. Just follow along w/ Rasmussen’s Presidential Approval Index rating (today, -8) and you’ll see this. Rasmussen is dead accurate in their polling usually. It was as high as +10 on May 29! Oh how the “mighty” have fallen! Now, give it a couple more years and people will finally be on to the fact that this is “Jimmy Carter II, Revenge of the Failure.”

“IT’S WORKING.” – President Barack Obama two days ago
Really? If this is the Obama Administration’s idea of “working,” I’d hate to see what “failing” is.
Oh, wait. This current economy IS their definition of “saving or creating” jobs. Namely, they create no jobs and pretend they “saved” millions of others simply by their speeches and press conferences.
“I WON.” – President Barack Obama on being challenged.
We know. That’s a mistake, fortunately, that the country doesn’t have to make twice.

So now they have earned the right to destroy our health care system? All you libs, do you want these clowns messing w/ your insurance?? What a failure!

Hmn, multiple stimulus packages and talk of a “jobless recovery”… So where EXACTLY is my money (and jobs for that matter) going Barack??? (Crickets!) Oh, I’m sorry, did your TelePrompTer break AGAIN!!! Tsk! Tsk!

Even the teachers, firefighters, and cops know that the stimulus cannot save their jobs indefinitely. These are honorable jobs, but their long term existence is tied to a healthy economy. I am beginning to doubt that the funds in the current stimulus bill will outlast the recession.
There is no time to waste: improve the economy now, or a majority of us may be forced to become teachers, firefighters and cops.

Great words form the man who had all the answers. Thats not how he campained. Now its broke and he cannot fix it. Thanks alot all you yes we canners. You got what you wanted’ A big mess and spending enough to fund half the world.

November, 2008
Obama said he aims to save or create 2.5 million jobs in a two-year plan… to “jumpstart job creation”
January, 2009
Obama said between 3 million and 4 million U.S. jobs could be saved or created by 2010, nearly 90% of them in the private sector
June, 2009
Obama pledged to pump stimulus money into the economy over the next several months to create or save more than 600,000 jobs this summer (125,000 temporary)
July, 2009
Obama said ARRA was not expected to restore the economy to full health on its own but to provide the boost necessary to stop the free fall
July 14, 2009
Obama says we are stabilizing the financial system but people must also be able to find good jobs that pay good wages
So now we’re back to stabilizing the financial system? That has nothing to do with ARRA – that was TARP – so it can’t be used to judge the success or failure of ARRA. If he backpeddles any faster or farther, he’ll be campaigning again – which he was better at anyway.
Good point about the teachers, police and firefighters. 90% of ARRA was for the private sector and yet he and his supporters are acting like this was the initial and major thrust of ARRA to start. Defining “recovery” in real time I guess.

I pray that everyone who voted for this guy pay economically and that those of us who actually listened to him during the campaign and tried to warn his cult of followers be spared of the coming economic catastrophe.

Notice the jobs Obama says he saved…teachers, firefighters, policemen etc. All of them depend on taxpayers for their funding yet the people who make stuff, provided goods and services and create a tax income to the government…tough $hit-and as some do without money the Government simply prints the money they need…sending all of us a tax bill that will have to be paid back by all of us. As a matter of fact he wants to add cap and tax to the citizens-businesses of this country making it even more difficult for a business to hire workers. While we are busy saving the planets eco systems the jobs we had move abroad and the Chinese and others say “no friggin way are we going to sign global treaties on carbon releases”. In the meantime those who have no jobs will soon be able to get their ingrown toenails treated for “free”.

“The Netherlands? The country where 9 North African Muslims murdered Theo van Gogh because they didn’t like his movie which exposed Islam’s Koran-sanctioned brutal treatment of women”
As opposed to our own country where lunatic right wingers kills cops, museum security or shoot up a family of hispanics.
And that’s just the last 6 months.

Obama: ““We think that the Netherlands not only is one of the world’s largest economies…”
Oh yes, with GDP at 16% of the US GDP, and right behind South Korea, Australia and Mexico.

“Obama: ““We think that the Netherlands not only is one of the world’s largest economies…”
Oh yes, with GDP at 16% of the US GDP, and right behind South Korea, Australia and Mexico.”
Well considering that the Netherlands has only about 5% of our population, having 16% of our GDP is impressive.
Regardless of that, they seem to rank 15th or 16th in GDP making them worthy of the G20, no?

“China’s stock market is up 71% this year, the country that is quickly embracing capitalism”
China’s economy is capitalist?

The democrats killed their chances of “reforming” our energy and health care markets by passing that piece of bloated “stimulus” pork. When we are trying to figure out how to pay down the debt in the face of rising unemployment and inflation people will hold obama accountable. I just hope the republican or some other conservative third party movement gets their act together to cut non-defense spending and taxes dramatically to get us out of this mess. Ryan stop with your pathetic “right wingers are evil.” I thought obama campaigned on ending partisan politics. Guess I was wrong to believe he was different than any of the others.

The initial round of people who lost their jobs and lost their homes a year ago, were those that were already living “on the edge”. Many of us have been out of work for a year or more, hanging on to our homes because we had a plan. BUT….we are also relying on Obama’s word that jobs that will pay our bills are forthcoming. The next round of us who lose are homes are going to be the bread and butter of our society…those that have worked hard and done the right thing all of their lives. If this next round, which includes me, lose our homes….then you can bet we will have a very tough time rebuilding our lives, and rebuilding the economy.

I guess he hasn’t been informed of the 100 State Troopers who lost their jobs here in Mi. this month. Other Steates, believe me when i say i feel your pain- we have had 82 straight months of pain!

Ryan C,
Rather than attacking “right-wingers,” would you care to defend your Messiah’s economic policies?
Posted by: tjp612 | Jul 14, 2009 2:35:11 PM
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“crickets”

Isn’t it odd how employment is suddenly the last thing to recover in a recession? I remember a different tune being played a few years ago when another president was in office.

===I don’t believe in praying to God for misforture of others. ===
Who said anything about God? Maybe he is praying to the High Priestess of Misfortune.

===Axey – what are you talking about? ===
Google it. Links aren’t allowed.

“Rather than attacking “right-wingers,” would you care to defend your Messiah’s economic policies?
Awwww I am not posting to the right wing satisfaction.
Especially when pointing out their racist violence.
But as far as the economy goes, the unemployment numbers are not good though the U6 figure is not as bad as one would think it would be. But the economy itself seems to have stabilized a bit.

“And the Christian currently sitting in the Oval Office is? And he supports what?”
Certainly not the praying for the smiting of his enemies.
But this comes to mind
“I tell you the truth, it is hard for a rich man to enter the kingdom of heaven. Again I tell you, it is easier for a camel to go through the eye of a needle than for a rich man to enter the kingdom of God.”

Ryan C,
Rather than attacking “right-wingers,” would you care to defend your Messiah’s economic policies?
Posted by: tjp612 | Jul 14, 2009 2:35:11 PM
———–
Ah, come one now! You didn’t really mean that. You know very well you wing nuts do not want a civil debate. You’re just sitting here, enjoying venting your fantisies. I understand your pain. Although I didn’t dislike George Bush, I witnessed how many who couldn’t stand him labored in pain.

“I wonder how good a shape the US would be in financially if Bush had worked to pay down the debt instead of handing out tax cuts to his rich buddies.”
So, Ryan C, you admit you are one of Bush’s “rich buddies” (since you received a tax cut)?
Hypocrisy?

“I wonder how good a shape the US would be in financially if Bush had worked to pay down the debt instead of handing out tax cuts to his rich buddies.” Posted by: Ryan C | Jul 14, 2009 3:05:29 PM
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Ryan surely you know the ONLY way to improve the economy is for rich right wing politicians to hand out tax cuts to their rich buddies. Nothing else can possibly be done. That is the only answer. This is America!

US Airways today announced it is cutting jobs too.

Obama is crashing the Titanic into an iceberg with his eyes wide open. He knows his policies will destroy the economy yet he pushes on. Isn’t it about time we just go Galt on this administration?

ROFLMAO!
Right wingers HATE it when you point out that selfishness and greed is their core philosophy.

“So, Ryan C, you admit you are one of Bush’s “rich buddies” (since you received a tax cut)?”
Its quite simple.
Bush wanted to cut taxes for the rich who by far enjoy the most impact from lower taxes, so it was packaged as an across the board tax cut.
If Bush had come out and just cut taxes for the rich, it would never have flown.
Of course by cutting everyone’s taxes, he set us up for further budget deficits instead of working on paying down the national debt.

I hope that by the end of the year, many more Americans will realize that Obama is the worst president this country has had. Yeah, yeah, yeah, I know there’s been competition. Just recently, people said Bush was the worst. Well, ask yourself the classic question: are you better off now than with that horrible guy Bush?
For me, being unemployed, with little to no chance of finding work, it is getting harder to get down on my knees and worship Obama. Anyone else about ready to stop worshiping this lying loser who is destroying our ability to make a living.
Finally, am I supposed to be impressed if he gives me “free” health care while he destroys our economy?

>Of course by cutting everyone’s taxes,
…wait…you just said he only cut taxes for “the rich,” which, by the way, is another lie.
>he set us up for further budget deficits instead of working on paying down the national debt.
LOL
Is that so? What’s your boy Obama doing to pay down the national debt or the deficits?
Hint for 2010 and 2012: Comparing the Bush government deficits to the historic, unprecedented Obama deficits is a not going to be winning strategy, Mr. Fiscal Policy Genius.

“Over 400,000 filed new unemployment claims in June. You call that leveling off, just because it is lower than the 700,000 a month earlier this year?”
Yes, that would be leveling off.
“The number of people who have been unemployed for longer than 27 months is 4.4 million, so you are right when you say continuing unemployment is serious.”
Which is Obama’s fault how?
“In spite of the last few months of his presidency, Bush averaged 5.2% unemployment compared to the 25 year high of over 9% we are facing now with the president himself saying it will only get worse over the next several months. If we went from a little over 5% to over 9% in 6 months”
Unemployment was 5.8% for the year in 2008.
In Bush’s last 3 month in office(Oct to Dec), the unemployment rates were 6.5%, 6.7% & 7.2%.
The unemployment rate hit 7.6 in Jan 2009 and now stands at 9.5%
In fact the last time it was close to 5.2% for a given month April of 2008 when it was at 5%.
Now unemployment has certainly gone up but why do right wingers just make up figures?

“Hint for 2010 and 2012: Comparing the Bush government deficits to the historic, unprecedented Obama deficits is a not going to be winning strategy, Mr. Fiscal Policy Genius.”
I think reminding people of the utter failure of Republican governance will serve the Democrats for the next decade or so.

Let’s go back to ‘trickle down’ economics, gosh that worked so well except for Bush forgot to tax anybody and just went ahead and overspent by about HALF A TRILLION dollars per year EVERY year of his presidency.
Forgetting to tax people and actually PAY for things was a small oversight on his part, but the country sure was left in a mess by the end of his terms. Accelerating unemployment, crashing industries, huge national debt . … okay, well this was coincidental, but still .. .
The Republicans had 6 years with control of the presidency and the Congress in which to anticipate or prepare for an economic crash. That they didn’t see it coming, or prepare for it cannot be blamed on anybody else. Can it?
What the ‘small government’ Republicans did during this time was overpend and not gather the money to pay for it.
Pretty confusing mess all round.

“I think reminding people of the utter failure of Republican governance will serve the Democrats for the next decade or so.”
I would have thought so. But The One and the Dems have clearly over-reached and have proven themselves to be quite incompetent. I’m shocked at how quickly support for The One is unravelling. I had no hope for 2010 and 2012, but I’m feeling much better as I see The One’s sliding poll numbers.

Danita,
Are you aware that CONGRESS authorizes and spends the money in Washington…yes, Bush went along…he is responsible for the deficits too.
But, does it make any more sense to double and triple it?
And, which party was in control of the Congress for those 6 yrs?
You need a civics lesson, honey.

“And, which party was in control of the Congress for those 6 yrs?”
The Republicans.

“This president is deliberately going to put thousands out of work, rather than spend 0.2% of the what the great “Stimulator” cost. That literal drop in the bucket of the Obama Spending spree would keep 22,000 people employed.”
Yes let’s spend $350M+ per fighter aircraft BEYOND what the Pentagon says is needed…
in the midst of a war against foes with no air force…
during a time of recession and budget deficits.

JHouse,
Don’t bother, she has exhibited time after time that she is the poster child for the dumbing down of America!
Defending the Obama faith, Billions after billions after billions spent in hopes that it may fix something – yet when it comes to spending under 2 Billion to insure 22,000 Americans remain employed, she says “its wasteful”!

So now Obama is an unemployment “barometer” when he couldnt predict what everyone else has been saying all along that unemployment is skyrocketing! Who is he trying to fool really? Himself? We all know they arent hiring Barack. The problem is you arent really helping the situation with cap and trade and government takeovers of healthcare and the auto industry. Legalize and tax weed already. You know its the only way to get the revenue, fight the profits of illegal mexican drug cartels, and create jobs so just do it already and stop trying to fleece the public in other ways.

“Legalize and tax weed already.”
California is actually seriously considering this.
Last year during the now perennial budget crisis, some consortium of growers offered a billion dollars in tax revenues the day it was legalized.

Let’s be clear. The Republicans created this economic mess.
==========
Why do you think Michigan was on the leading edge of this recession if it was created by Republicans?
Michigan has a Dem governor, and its biggest city is Dem-lead.

The Republicans had 6 years with control of the presidency and the Congress in which to anticipate or prepare for an economic crash. That they didn’t see it coming, or prepare for it cannot be blamed on anybody else. Can it?
Posted by: danita | Jul 14, 2009 4:06:40 PM
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Bush should have been more vigilant but it’s harder to see a disaster coming when you’ve got the likes of Maxine Waters, Barney Frank, Chris Dodd, Franklin Raines etc telling you there is “nothing wrong.” Were they in denial or just liars?

“I really wish Hillary had won. Obama is too inexperienced.”
I do not think Hillary could have won the general election had she won the Democratic nomination.
Too many hard feelings towards her.

“It should be done after Arnold leaves office. That incompetent fool turns everything into a defict and a debt.”
I can’t fault him too much on this.
CA government system is designed to do basically nothing.
Its gerrymandered to the point where only the extremists get elected on both sides with ridiculous releection rates, the “solution to that” being term limits which rob us of any competent experienced legislators, you have a prop system dominated by special interests….those are just the tip of the ice berg.

I will be glad when obama gets all these give away programs in effect.then i can sit on front porch like the other people have been doing for years.just hope they dont raise prices on mogan david vine.

“You actually believe the economy crashed before January of 2007? The unemployment rate for 2006 was 4.6 percent, and the stock market hit an all-time high in October of 2007.”
Bush became a lame duck on Nov 5th 2008.

“biggest deficit ($1,000,000,000,000.00)-07/2009″ Posted by: Unhappy 1,000,000,000,000 Deficits | Jul 14, 2009 5:57:12 PM
Nope, you can’t blame this all on President Obama. The fiscal year started in October and Bush contributed well over $700 Billion to the current deficit figure.

“biggest debts ($13,600,000,000,000.00)-2012,” Posted by: Unhappy 1,000,000,000,000 Deficits | Jul 14, 2009 5:57:12 PM
Nope, you can’t blame this all on President Obama. Bush took the national debt from $5 trillion to $10 trillion approximately.

“biggest Governments w/smallest efficiency” Posted by: Unhappy 1,000,000,000,000 Deficits | Jul 14, 2009 5:57:12 PM
No proof at all this is ‘smallest efficiency’. One would think Bush’s gross overspending after promising ‘smaller government’ was pretty damned inefficient.

Hey…. “UNHAPPY”….. try this one:
BUSH (2001 to 2008)
= $5,000,000,000,000,000.00 Increase to the National Debt.
…. ALL THE DEFICITS during the 8 years of the Bush/Cheney Administration contributed to the $5 TRILLION increase in the National Debt. (Yearly Deficits = More National Debt)
By the way, …. the FY2008 Interest payment on the $10.5 TRILLION National Debt that Bush and Cheney racked up for us during their 8 years… it was $451 Billion ($50 Billion short of what it cost to run the Department of Defense each year). In other words, just on that ONE interest payment alone, we could have had a second DoD.
So why did I vote Democrat this time?
(A) Because Democrats have a history of paying down the National Debt and Republicans have a history of building it back up…. and also because…
(B) Unlike the Republicans, the Democrats don’t run around claiming they are the “fiscally conservative” party, when the Bush/Cheney years once again PROVED that they are not…. all you need to look at is the National Debt and see how much they fooled the American public.

“For the bureaucrat, the world is a mere object to be manipulated by him.” – Karl Marx.

Hey Ryan C,
How about an update on The One’s polling numbers? (feel free to toss in how the public feels about his policies as well)

1. When President Carter left the White House (Jan 1981), the National Unemployment Rate (NUR) that month was at 7.5%.
2. For the next 21 months after assuming office, President Reagan struggled to bring the monthly NUR under 7%, but could not.
3. Between November 1981 and November 1983 (2 whole years under Ronald Reagan), the monthly National Unemployment Rate hovered above 8.3%, climbing to 9% and climbing even further to 10.8% (November & December 1982).
4. Finally, in September 1984 (3 years and 8 months after Ronald Reagan was inaugurated)… the Monthly National Unemployment Rate dropped below 7.5% (the monthly national unemployment rate that President Carter left him with).
The Moral of the Story: It took Ronald Reagan 3 years and 8 months to turn the monthly National Unemployment Rate around, and unemployment actually got worse before it got better.
If YOU really think that the National Unemployment Rate is going to turn around on a “dime”, in a matter of 6, 7, 8 months… or even 1 year, you don’t understand economics, and you sure don’t understand how “unemployment” is a lagging economic indicator.
CHECK IT OUT: … Goog: “U.S. Misery Index” and click on the left column “historical MONTHLY unemployment rate”.

I do not think Hillary could have won the general election had she won the Democratic nomination.
Too many hard feelings towards her.
Posted by: Ryan C | Jul 14, 2009 5:17:39 PM
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Maybe not, but at least it might have been a fair fight (leg tingling-wise that is).

“Maybe not, but at least it might have been a fair fight (leg tingling-wise that is).”
A fair fight between the Clinton and anyone else?
Why do you think the Obama campaign took whatever the McCain campaign had?
They were tempered in the fires of the primary vs the Clintons.
Democrats for the most part liked Hillary but independents did not.
She had the same issue as Obama in regards to experience when measured against McCain (who undercut his own argument with the selection of Palin).
But her biggest prob from the start were her high negatives.
It did not help that the Hsu scandal happened this cycle.

“I was talking about the media – nice try though.”
No I think FoxNews would have lied just as much about Hillary as they did Obama.
Maybe even more so.

No I think FoxNews would have lied just as much about Hillary as they did Obama.
Maybe even more so.
Posted by: Ryan C | Jul 14, 2009 7:35:20 PM
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Yes, I’m sure… (rolls eyes)

Congressional U.S. Federal Budget Approvals:
2009 – $3.10 trillion
2008 – $2.90 trillion
2007 – $2.77 trillion
A Democratically-controlled Congress could have voted against any of the 2007-2009 budgets but they didn’t. Maybe Rove and Bush have been setting them up all along for the 2010 election. ;-)
2006 – $2.7 trillion
2005 – $2.4 trillion
2004 – $2.3 trillion
2003 – $2.2 trillion
2002 – $2.0 trillion
2000-2001 budgets were submitted by Clinton.
And the grand prize goes to the Big Kahuna himself!
2010 – $3.60 trillion (submitted 2009 by President Obama)
Aloha Mr. President!

This joker will never quit, will he? I am so looking forward to 2012!

Yes Mr President the economy is
“stabilizing”.
Just like the Titanic “stabilized”
before it sunk to the bottom of
the ocean!

at least he’s being honest about it. During the last election season we had George Bush still trying to convince us that the economy was OK. Somehow that was better than being given the bad news up front?
I’d be amazed by you poeple but 8 years of the Bush adminstration proved that you roll right through life with a smile after being lied to. I guess your disdain now proves you prefer it that way.

You mean we can’t spend our way out of another problem? Heresy!