Obama says unemployment likely to keep ticking up
Published: July 14, 2009
WASHINGTON — President Barack Obama says unemployment is likely to tick up for several months as the economy recovers from its deepest downturn in decades.
The president said Tuesday that renewed employment typically lags behind other signs of improvement as a swooning economy turns around.
More than 2 million jobs have been lost since Congress passed Obama’s $787 billion economic stimulus package. The unemployment rate stands at 9.5 percent, the highest in 26 years.
Obama said the single biggest challenge for the U.S. and other nations is the creation of enough jobs that pay good wages.
He spoke in the Oval Office after meeting with Dutch Prime Minister Jan Peter Balkenende
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Reader Reactions
The dirty little secret is coming to light. The so called “stimulus” package rushed to a vote without the public having time to read the bill was never about jobs.
It was all about government seizing as much private industry as it could at one time. And setting up more confiscation of private property in the future.
If it wasn’t, why did Obama and the Democrats hide the bill from The People?
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