Obama Sees Unemployment Rising to Over 10%; New Job Creation a Struggle
Posted on | November 3, 2009 | No Comments
President Obama gave his views and input on the unemployment situation, only reminding US citizens that it is clearly not improving and will inevitably get worse before it gets better! The president informed US citizens that him and his administrations main goal is to create long term jobs in the US in order to relieve the unemployment rate and better stimulate the economy.
Unfortunately, despite what Mr. President would like to see happen, the creation of these jobs is going to be extremely difficult with the current standings of the economy. When there is no money circulating, and every possible industry is suffering in some way, how is the Obama administration going to go about creating new jobs?
Obama said that unemployment was at exactly 9.8%, although this number feels altered based on the harsh circumstances each state is experiencing, the National Average is approximately 10% as Obama stated. This is an all time high since 1983!
While unemployment rises, the government is being forced to pay more and more people unemployment benefits, thus creating more and more debt and no stimulation of the economy. The more unemployed we have, the less industries we have available to make up our economy, and the less money we have circulating through our economy. As the president said, it will indeed it worse before it gets better. But, the true question is- when will it get better? Without a functioning economy, how will the president meet his promises and create new jobs?
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Author: Sylvia Wayne
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