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Recession Deepens As Obama Economy Sheds 4 Million Jobs

In his weekly radio address in August, 2009 President Obama said:
“Today we’re pointed in the right direction.”

He was speaking, of course, of the “good news” that the unemployment rate for July had dipped a tenth of a point over the previous month to 9.4%. But the fact is, we are not pointed in the right direction. We still lost over 247,000 jobs in July and we have lost nearly 4 Million jobs since Obama became president. The August numbers and the September numbers show that job losses are again on the rise.

Often, recessions have several “false” recoveries and then take another dive.

And inflation is rearing it’s ugly head:

A monthly gauge of U.S. inflation pressures continued to rise in September to an 11-month high, suggesting an upswing in prices expected in an economic recovery, The Economic Cycle Research Institute said on Friday.

And considering the abysmal track record of the Obama Team’s economic predictions, it seems that this president has made things worse.

Here is a stroll down Unemployment Memory Lane:

February, 2009
Employers slashed their payrolls by 598,000 jobs in January, marking not only the biggest monthly cut since the recession began in December 2007, but the biggest since 1974, the Labor Department reported today. The unemployment rate rocketed to a more than 16-year high of 7.6 percent from 7.2 percent in December.

President Barack Obama and Democrats warned in February that unemployment could surpass eight percent if the stimulus bill was not passed.

March, 2009
The unemployment rate rose to 8.1% for February, its highest recorded level since December 1983.

April, 2009
Unemployment rate reached 8.5% with more than 663,000 jobs lost in March.

May, 2009
The Labor Department reported today that U.S. employers trimmed 539,000 nonfarm jobs in April 2009, the smallest monthly decline since October 2008, after ADP data showed similar decline early this week. However, the household survey showed that the unemployment rate has soared a 25-year of 8.9% last month. March’s job loss rate was revised higher to 699K, the highest monthly job loss in six decades.

June, 2009
The American economy shed 345,000 jobs in May, and the unemployment rate spiked to 9.4 percent. The highest in 25 years.

On June 9, 2009, President Obama said:
“We’ve done more than ever, faster than ever, more responsibly than ever, to get the gears of the economy moving again,” Obama said, and “we’re in a position to really accelerate.”

July, 2009
The unemployment numbers for June 2009 showed a 9.5% job loss rate.

August, 2009
The U.S. economy shed 247,000 jobs in July 2009 a rate of 9.4%.

September, 2009
In August, unemployment hit 9.7%. This was a 26 year high.

“We’re making progress in slowing down the number of jobs lost,” said Gibbs, who also pointed to a report released this week that showed growth in the manufacturing sector for the first time in more than a year.
Gibbs said the stimulus “is in many ways doing more than we thought it would do in terms of softening the blow” of the recession.

Speaker Nancy Pelosi (D-Calif.) echoed Gibbs in a statement that said the report from the Labor Department, which showed the unemployment rate jumping from 9.4 percent in July, (to 9.7% in August) is a “clear indicator” of declining job losses. (Is that California math?)

October, 2009
The jobless rate for September was 9.8%. Yet another record high.


About Tom White

Tom is a US Navy Veteran, owns an Insurance Agency and is currently an IT Manager for a Virginia Distributor. He has been published in American Thinker, currently writes for the Richmond Examiner as well as Virginia Right! Blog. Tom lives in Hanover County, Va and is involved in politics at every level and is a Recovering Republican who has finally had enough of the War on Conservatives in progress with the Leadership of the GOP on a National Level.

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Tom White Says:

Nothing is more conservative than a republican wanting to get their majority back. And nothing is more liberal than a republican WITH a majority.

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