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October 03, 2009

What Economy is Obama & Biden Spinning … Jobless Total Tops 15 million

Posted in: Barack Obama,Economy,Main,Obamanation,Obamanomics,Politics,We the People

The Obama policy of spinning the economy. Note to Obama and Biden, you cannot spin a rosy picture to those out of work with an unemployment rate of 9.8% exists. Just like how the media salivated when a death toll in Iraq reached 1000 because that would look bad upon the Bush Administration, wait, just wait until unemployment reached 10% in the US and see Obama’s poll numbers drop faster than Chicago off the 2016 Olympic list.

As the grim news came out on Friday that the nation’s payrolls declines by yet another 263,000 jobs in September and unemployment inched up to 9.8%.  According to the Department of Labor, (full stats HEREthe number of unemployed people topped 15 million. Every single major business sector showed continued declines, with the exception of education and health services, which added a mere 3,000 jobs.

If there is any stimulus money going into infrastructure and green construction, it is not evident from the numbers, because construction lost 64,000 jobs – more than the perennial loser, manufacturing. Even heavy and civil engineering construction, the group that would be building roads and bridges, saw a decline of 11,900 jobs.

In the past, government hiring had managed to somewhat offset losses in the private sector, but government jobs declined by 53,000, with the biggest number of cuts on the local and state levels. Even the Postal Service, which is included in the public-sector job statistics, dropped 5,300 jobs.

“The major surprise came from the public sector, where every level of government cut back,” Naroff said. “The budget crises at the state and local levels have caused an awful lot of belt-tightening.”

We are reminded that VP Joe Biden just recently stated that he was amazed that the stimulus plan was working better than expected. WHAT ECONOMY IS BIDEN LOOKING AT? Polls have shown that the American people disapprove of how Obama is handling the economy. The continual spin of the stimulus plan is working only enrages Americans that this administration is that out of touch with the facts at hand.

Defending a costly plan to revitalize the economy, Vice President Joe Biden on Thursday said the government’s sweeping stimulus effort “is in fact working” despite steady Republican criticism and public skepticism.

“The recovery act has played a significant role in changing the trajectory of our economy, and changing the conversation in this country,” Biden said. “Instead of talking about the beginning of a depression, we are talking about the end of a recession.”

Nearly 200 days into the effort, Biden delivered an upbeat report card about the $787 billion rescue effort that President Barack Obama pushed through Congress. He quoted estimates by private analysts that the plan has created or saved 500,000 to 750,000 jobs so far. But many million people remain out of work.

Really? Biden may want to personally call the 263,000 people who just lost jobs in September. These people are insane if they think “We the People” are going to buy the lie that jobs were saved or created under Obama’s policies when the unemployment rate is about to reach 10%.

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