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Thread: Obama: Unemployment likely to keep ticking up

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    Obama: Unemployment likely to keep ticking up

    "'How employment numbers are going to respond is not year clear,' the president said on a day when he was headed to Michigan, home of a particularly battered economy. 'My expectation is that we will probably continue to see unemployment tick up for several months.'"

    "More than 2 million jobs have been lost since Congress passed Obama's $787 billion economic stimulus package."

    Obama: Unemployment likely to keep ticking up - Yahoo! News

    Wasn't the stimulus package meant to prevent this? Weren't we promised new jobs quickly? All this and also talk of another stimulus?

    I think its time to wake up from the $787 billion dollar wet-dream.
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    Re: Obama: Unemployment likely to keep ticking up

    Quote Originally Posted by Alex View Post
    Wasn't the stimulus package meant to prevent this? Weren't we promised new jobs quickly? All this and also talk of another stimulus?

    I think its time to wake up from the $787 billion dollar wet-dream.
    More like cancel the amounts not spent, repackage them into something that can be spent within the next month.

    Anyone with a functioning brain should have expected this to occur when only a pathetic 6.5% of the stimulus has been spent so far. Stimulus as a concept is not bad. But as we've seen, it hasn't worked. But generally fiscal policy is almost virtually too slow to work well. Same thing happened under the Bush tax cuts. Too slow to make a difference.

    What I don't get is why is there a trillion dollar deficit when only $51 billion has been spent so far? Where is the rest of the money?
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    Re: Obama: Unemployment likely to keep ticking up

    Quote Originally Posted by Alex View Post
    Wasn't the stimulus package meant to prevent this? Weren't we promised new jobs quickly?
    No, we were promised a recovering economy quickly...and we should indeed have one in the second half of this year. That is not the same as new jobs. Unemployment is always a lagging indicator; it will continue to increase for months after the economy has actually bottomed out and started growing again.

    Quote Originally Posted by Alex
    All this and also talk of another stimulus?

    I think its time to wake up from the $787 billion dollar wet-dream.
    I don't think Obama ever stated that the stimulus was going to make the economy recover within five months of it becoming law.
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    Re: Obama: Unemployment likely to keep ticking up

    Quote Originally Posted by Kandahar View Post
    No, we were promised a recovering economy quickly...and we should indeed have one in the second half of this year. That is not the same as new jobs. Unemployment is always a lagging indicator; it will continue to increase for months after the economy has actually bottomed out and started growing again.
    Nice try!
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    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: Obama: Unemployment likely to keep ticking up

    Quote Originally Posted by Kandahar View Post
    No, we were promised a recovering economy quickly...and we should indeed have one in the second half of this year. That is not the same as new jobs. Unemployment is always a lagging indicator; it will continue to increase for months after the economy has actually bottomed out and started growing again.



    I don't think Obama ever stated that the stimulus was going to make the economy recover within five months of it becoming law.
    He did say it would keep unemployment under 10%, until the package was passed, that is. Once the package was passed, he changed his tune.

    [ame="http://www.youtube.com/watch?v=QffRCDimg2E&feature=related"]YouTube - Obama's Double Digit Unemployment[/ame]
    "Republicans believe every day is the Fourth of July, but the Democrats believe every day is April 15." -Ronald Reagan

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    Re: Obama: Unemployment likely to keep ticking up

    Quote Originally Posted by apdst View Post
    Nice try!

    A brilliant rebuttal, good sir. Obviously a master of economics, you are.
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    Re: Obama: Unemployment likely to keep ticking up

    Quote Originally Posted by Alex View Post
    He did say it would keep unemployment under 10%, until the package was passed, that is. Once the package was passed, he changed his tune.

    YouTube - Obama's Double Digit Unemployment
    There's no way the President of the United States (or anyone else) can accurately predict the peak unemployment rate, with or without this policy. That may have been the political spin he put on it, in order to scare congressmen into voting for it. But the reality is that unemployment is always a lagging indicator.

    Even in January/February, a lot of economists were saying that the recession was likely to hit bottom in summer 2009, but that unemployment would continue to rise until at least the end of the year. And that still seems likely to happen.
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    Re: Obama: Unemployment likely to keep ticking up

    Quote Originally Posted by Kandahar View Post
    There's no way the President of the United States (or anyone else) can accurately predict the peak unemployment rate, with or without this policy. That may have been the political spin he put on it, in order to scare congressmen into voting for it. But the reality is that unemployment is always a lagging indicator.
    In other words, Dear Leader lied to scare Congress into spending $787 Billion this country does not have.

    And you're ok with this.


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    Re: Obama: Unemployment likely to keep ticking up

    Quote Originally Posted by celticlord View Post
    In other words, Dear Leader lied to scare Congress into spending $787 Billion this country does not have.
    I don't think I've ever stated that Obama was above politics. On the contrary, he's quite adept at the game.

    Quote Originally Posted by celticlord
    And you're ok with this.

    We needed an economic stimulus. If Barack Obama needs to claim that it could prevent double-digit employment, and Rahm Emanuel needs to twist the arms of some reluctant congressmen, that's just politics. You're never going to eliminate political spin and political pandering from Washington. So you might as well focus on the policies instead of the politics.
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    Re: Obama: Unemployment likely to keep ticking up

    Quote Originally Posted by Kandahar View Post
    We needed an economic stimulus.
    As you and I are likely the only two here who have actual university level business educations (the rest are clearly blowhards), do you think that the stimulus, with its paltry amount spent should be canceled and repackaged into something that can be spent within 60 days?
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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