Friday, November 06, 2009
Posted by: John Campbell at 1:28 PM
As you may have heard, the latest numbers on unemployment were released today and merely provide a metric for what Americans across the country have known for a while now; the economy still has not recovered. These numbers, which have broken the double digit mark for the first time in 26 ? years, clearly indicate that the President’s Stimulus package has done nothing that it was intended to do, which was to make the recession shorter and shallower.

You will remember that President Obama’s economic advisors indicated that with the passage of the so-called ‘stimulus package,’ unemployment levels would not exceed 7.8%. Now, as we stare down the face of unemployment levels of 10.2%, it begs the question, Mr. President, where are the jobs?



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Paul writes: Friday, November, 06, 2009 1:41 PM
Where are the jobs?
Sitting on the sidelines watching the game wondering what additional operating costs (aka taxes) we small business owners are going to be slammed with following health care and cap and tax reform.

I am not hiring anyone until I know what all this garbage is going to cost me and whether I can afford to hire anyone.

It's really that simple. No business owner in his right mind would risk employing anyone without knowing what the hidden costs are going to be down the line.

moderateGuy writes: Friday, November, 06, 2009 1:47 PM
What do you mean
"where are the jobs"? Why the "green economy" stands ready to create two, three hundred new jobs.
eddie too writes: Friday, November, 06, 2009 1:49 PM
10.2 % is only

halfway to where BO plans to take us.
Origanalist writes: Friday, November, 06, 2009 1:52 PM
The scary part
is that this mess is just getting started. Nothing this administration or congress is attempting is going to stop or even slow this disaster. This is a train wreck.
Speedicut writes: Friday, November, 06, 2009 2:09 PM
Well, I'll have to get
a masters degree from Harvard before I can speculate on what's wrong with the economy.
justaguy writes: Friday, November, 06, 2009 2:33 PM
Memories of Reagan
We have been hearing all day that the jobless rate is the highest it has been since 1983. Well boys and girls, in 1983 Reagan, who had inherited a rate of 7.5% in 1981, had already been President for NEARLY 3 YEARS! He went on to create more jobs than any US President(barely edging out Clinton by the way), so I wouldn't start crowing quite yet.
ca writes: Friday, November, 06, 2009 2:36 PM
justaguy
Thanks for being the voice of reason!
eddie too writes: Friday, November, 06, 2009 2:46 PM
is that why

BO and dems have totally rejected RR's solutions?
Basset Hound writes: Friday, November, 06, 2009 2:52 PM
Oh, but don't you know..
This is the "new normal"? We're supposed to get used to it. Even Peggy Noonan is saying:

"This is historic. This is something new in modern political history, and I’m not sure we’re fully noticing it. Americans are starting to think the problems we are facing cannot be solved."


Last month a well known women's magazine profiled four families on public assistance. All had previously had comfortable incomes, and had been employed in steady jobs for years. None had ever been (or thought they ever would be) in such a desperate situation.

Welcome to Obama's America.
Speedicut writes: Friday, November, 06, 2009 3:33 PM
justa and ca
but Reagan said GOVERNMENT was the problem. So I guess you're saying Obama is wrong with his "the GOVERNMENT is the solution" strategy? Huh. Well, I think only one of them can be right.
cavalier973 writes: Friday, November, 06, 2009 3:42 PM
speedicut
You write: "Well, I'll have to get
a masters degree from Harvard before I can speculate on what's wrong with the economy."

Eschew Harvard. Embrace Austria:
http://www.mises.org
cavalier973 writes: Friday, November, 06, 2009 3:44 PM
Time to nitpick
Not "begs the question" (which is a logical fallacy similar to circular reasoning), but "raises the question."
Patrice writes: Friday, November, 06, 2009 5:39 PM
Lost with the stimulus
More jobs have been lost since the stimulus than have been 'saved'. The very corporations (banks, AIG and auto companies among them) that received the money then laid off workers so how did the money help? Small businesses are fearful of what the next spending bills and the healthcare takeover will do to them so they will not hire and may not be able to hire for some time.
More jobs will be lost (lower numbers each week only show that there a fewer jobs left to be lost)and the same organizations that got the money will find ways to relieve themselves of the obligation )for repayment (many have already been relieved in bankruptcy) but we will be left repaying the national Debt for years to come. How will people pay for anything when they have no work and the few people who do have jobs will pay higher taxes to pay for all government spending. This has to stop now, they must stop the spending spree. Why don't they spend their time finding ways to stop the bleeding and save money?
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About John Campbell

John Campbell is a member of the House Financial Services Committee, and has taken a leadership role in addressing the country's top economic issues. Campbell serves as a member of the Joint Economic Committee, and House Committee on the Budget. He has a Bachelor's Degree in Economics from UCLA and a Master's Degree in Taxation from USC.

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