Saturday, January 2, 2010

Obama Loses More Jobs In One Year Than Any President In Modern History

President Obama has presided over the worst loss of jobs of any President since World War II. What happened to the 8% peak were were promised if the stimulus passed?

USA Today
Even before Barack Obama took the oath of office, his economic advisers projected that without hundreds of billions of dollars in government spending, the U.S. economy could lose another 3 million to 4 million jobs on top of the 3.1 million lost in 2008.

It turns out they were optimistic. Even with the $787 billion stimulus package that Obama signed in February, more than 4 million jobs have been lost in 2009, the worst year for job losses since World War II. The jobless rate that advisers projected would peak at 8% has topped 10%.

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