‘Unemployment rate much worse than the administration contemplated…’
ABC News
Obama has pushed us to 16.5% unemployment
Some quotes of the day…a good read before you head out of the office for the 4th…
“There are now 14.7 million people unemployed. Since the start of the recession, the unemployment rate has risen 4.6 percentage points. If you account for those who have given up looking for a job but want to work or those working only part-time but want full time employment, the unemployment rate rises to 16.5%.” – The ABC News Business Unit, assessing the dismal numbers in this morning’s Jobs Report
“The fact of the matter is that the unemployment rate is much worse than the administration contemplated or that most people expected,” Economist Paul Krugman, to ABC’s Jennifer Parker
“My rear end is on the line, just like yours. I’m the guy in charge of this deal. So if it doesn’t work, it’s me.” – Vice President Joe Biden, quoted in Time Magazine, on the success or failure of the stimulus package
Related posts:
- Jobless rate hits 9.4 percent in May
- Obama Predicts Economy Will Get Worse
- Obama administration doesn’t bother to get Congressional approval for GM bailout
- Administration Is Keeping Ally at Arm’s Length
- Fed predicts economic slump from Obama plans
Tags: Barack Obama, unemployment