9.9%: Get Used to It

by Ryan on May 8, 2010

in Economy,Election 2010,Politics

Living in the Obama Nation isn’t as cool as advertised:  “Hope and Change,” a big hug from a world rid of Bush, and renewed prosperity after passing a stimulus package our Nobel Prize-winning President said would not see unemployment hit 8.5%.

Well, about a year-and-a-half later here’s how 2010 has looked like in terms of unemployment:  January 9.7%, February 9.7%, March 9.7%, April 9.9%, with Obama’s own “National Economic Council Director” Larry Summers saying last week that:

…A good guess, based on extrapolations of trends in this area, is that when the economy recovers, five years from now, assuming we return to normal cyclical conditions, one in six men who are 25 to 54 will not be working at any point in time.

I made bold that part in particular: “five years from now.”  Huh?  I thought prosperity was just around the corner, that the economy was in recovery.  Does Obama’s National Economic Council Director know something we don’t know?  I know unemployment is a lagging indicator of recovery, but I simply can’t square that concept with Summer’s gloomy statement.

The GOP says this is unacceptable.  Of course it’s unacceptable, but an important question is how the Obamabots can still be willing to accept these pronouncements without drastically changing or altering their policies — unless they welcome these abysmal predictions.  The “Hope and Change” I’m looking for will be this November.

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