How Come Unemployment Has Risen So Much Since Obama Took Office?
July 20th, 2009I am no fan of Obama I am also no fan of Bush and am not interested in the standard blame the guy before me answer When Bush was president unemployment was at a healthy 4%ish bust it looks like it might triple that soon.
Also could someone explain how the health care and minimum wage raise will help us get more people employed? I fail to see the logic?
Now the unemployment rate is at 9.5% but was at 6.5% when he was elected.
One cause is because small businesses are afraid of tax increases so they are cutting back. This affects employees (lay-offs) and purchases. Cuts in purchases affects other businesses that then have to cut back/lay-off employees. There’s also the lack of credit & spending that affects businesses. If consumers don’t spend, it hurts businesses.
When one area is hurt, it has the ripple affect of getting other areas. Tax increases don’t raise revenues. Never has and never will!
Bottom line, people are afraid. They are saving & paying off debt. The stimulus checks people got were not spent! (I paid it to a credit card.)
This health care scheme will HURT businesses because of tax increases. There is no “logic” with Barry’s crap. We have not seen the bottom to this unemployment nightmare. It will soon be in double digits! (I am also not a fan of Bush.)
Had Obama actually signed a stimulus bill that put money back in the pockets of American taxpayers instead of lining the pockets of lobbyists and constituents, unemployment might actually be going down and the economy would have bounced back much more robustly.
Nobody is going to take the chance of hiring back layed off employees or new ones until they are sure that the economy is growing and stable. One just cannot know when that will be when such consistent ineptitude is being demonstrated by Obama and his entire administration.
The last question i cannot help you with. Raise the minimum wage and small businesses will not hire new workers. Get the government involved in healthcare and there will be some expansion in fovernment, but none in the private sector which is enduring most of the fallout from this poor economy. Go figure!
The lagging indicator (unemployment) is still going up. The stock market is up 257 points. That is from yesterday. It is still down 3800 points from July, 2007. People who invested then have lost about 65% of their investment. No capital gains to tax there. Now it has to do with Republican business owners laying off people to show Obama who is boss. It would have nothing to do with the fact that they have no business to support the employees. Duh. The Blame game. Harry S. Truman (D) was a true leader. When he took the reigns he put a sign on his desk that said”The Buck Stops Here.” That is the kind of person we need in the White Hose and that isn’t what we have.
it’s a momentum thing. Like, if you’re in a car doing 70 and you want to turn around, you first have to hit the brakes to slow down before you start turning. Makes sense, right? Well the economy was in a free fall last january (maybe doing about 70?) and the stimulus is designed to turn the economy (car?) around, but first, the brakes must be applied (stopping the job losses?) and this takes time (months?). Sadly, there are some who cannot understand why obama hasn’t turned the economy around yet, and were they passengers in the car, would be complaining the car was doing 50 and why aren’t we turning? Too bad obama cannot open the back door and then turn sharply, while watching the right fly out of the car….
in Michigan it is over 15%~the big three had a lot to do with this
Obama got in office just when the chit hit the fan
Democrats have a knack for inheriting a disaster and making it worse
it is what they do best
Employment is a lagging indicator. Obama said it would get worse before it gets better.
The Index of Leading Indicators is going up. Factory orders are up. Home sales are up. The Dow was up 257 points today.
Because the economy is sinking. Obama knew damn well he had no control of the employment situation. By the time Obama ends his first term expect Millions of today’s unemployed to have government jobs.
Is that all you republicans know how to do throw the rock and hide your hand. I am so tired of you all blaming Obama for all this crap Bush left the USA in.
Obama has pursued discredited Keynesian pork project policies. They don’t work. If McCain had been elected and we had cut taxes permanently across the board (theory of rational expectations), the recession would be over by now.
Because that is the way he wants it. The more of us out of work and dependent on government handouts the more control he has.
It’s called communism.
Part of it has to do with Republican business owners laying off and firing people BEFORE the economy completely tanked because their leaders told them that Obama was going to destroy the economy.
Takes a long time to get a freight train stopped. Even longer to get it turned around.
it must be the stimulus package
You ain’t seen nuthin’ yet!