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| Economy |
| US unemployment rate to grow more |
| 2009-12-14 |
| [Iran Press TV Latest] The US unemployment rate could grow more as the US economy still suffers recession despite signs of recovery, says Barack Obama's senior economic adviser. Christina Romer, appearing on NBC's Meet the Press on Sunday, said that the jobless rate "could well" rise again. "These things certainly do bounce around. I would anticipate some bumps in the road as we go ahead," she told the TV network, according to AFP. Romer said the US economy could not totally recover from the recession "until all of those people that want to work are back to work". "I'm not going to say the recession is over until the unemployment rate is down to normal levels... where we were before the recession -- certainly in the five percent" range, said the chair of the President's Council of Economic Advisers, adding that Americans from coast-to-coast are still suffering from joblessness. US President Barack Obama, with his hefty stimulus plan of $787 billion, has pledged to create four million jobs. The US jobless rate has experienced many ups and downs since Obama took office in January, standing at 10 percent earlier this month. |
| Posted by:Fred |
| #11 USPresident Barack Obama, with his hefty stimulus plan of $787 billion, has pledged to create four Fixed it for ya. Closer to the truth. |
| Posted by: CrazyFool 2009-12-14 16:12 |
| #10 May be I am wrong, but there are some very simple rules of national economy. We have to produce and sell more than we bye from other countries. That may seem to be true from the point of view of one country. But can it be true for all countries? And if you are selling more to other countries than they are selling to you, what are you getting from them? IOUs. Which would you rather have, another countries goods or its IOUs? And what happens to the value of the IOUs if there's inflation? Right now we're getting lots of pretty good stuff from China at dirt cheap prices. They';re getting Obama dollars. I'm not saying it's not a problem, but I'm not sure how bad a problem it is. But it may be a symptom of other very serious problems. |
| Posted by: Whatever 2009-12-14 16:09 |
| #9 Isn't Ms Romer the same genius who told us that if the Porkulus didn't pass we'd have more than 8% unemployment? |
| Posted by: Cornsilk Blondie 2009-12-14 15:46 |
| #8 The logical extension of that is to end imports. That'll rebuild the economy. [/sarc off] Didn't we try that before. Why should anyone buy our exports, if we don't buy theirs. The problem has been in the Beltway. They've refused to actively apply existing tools to such acts by other countries, allowing State et al for decades to overrule our own economic self interest for questionable and obvious self defeating economics. |
| Posted by: Procopius2k 2009-12-14 15:41 |
| #7 May be I am wrong, but there are some very simple rules of national economy. We have to produce and sell more than we bye from other countries. Now, when Obama admistration is going to help us consumers in US, guess, where the money will go to help whom? Certainly China because we buy almost every thing made in China. Folks! Free market does not mean that you and I do not insist on buying made in USA, not the Chinese goods in cardboard boxes made here. Help yourself Do not blame others. |
| Posted by: Annon 2009-12-14 14:33 |
| #6 My industrious Grandson took a job at a fast food place as Cook, whatever happens, he'll always be able to find work, but he says "It's NOT a career, just a temporary job. (He's since quit and gone back to college) Owns his own pickup outright and has no debts, I predict He'll be successful whatever he choses as a lifetime career. PS, if anyone has NOT seen PBS Frontline program, "The card Game" it's free online and I highly recommend seeing it. |
| Posted by: Redneck Jim 2009-12-14 14:17 |
| #5 Yes, but in correlation with those jobs lost even more jobs will be simultaneously "saved or created" by the Obama administration at precipitous cost, so it's win-win, baby! |
| Posted by: Dar 2009-12-14 13:33 |
| #4 "I'm not going to say the recession is over until the unemployment rate is down to normal levels." but others in the administration will |
| Posted by: lord garth 2009-12-14 06:47 |
| #3 The US jobless rate has experienced many ups and downs since Obama took office in January, standing at 10 percent earlier this month. But mostly ups. |
| Posted by: Besoeker 2009-12-14 04:18 |
| #2 "Our agent, code name Lightning, is well on his way of destroying Capitalism, Comrade Secretary." "You idiot, we're capitalists now!" |
| Posted by: g(r)omgoru 2009-12-14 02:24 |
| #1 4 million fast food employees, what a recovery. Everyone could have a job plying Farmville or Cafe World on Facebook. Just a suggestion |
| Posted by: chris 2009-12-14 00:10 |