The 2010 Political Timebomb Is Unemployment

[Better Believe It]

The 2010 Political Timebomb Is Unemployment
by John Nichols
January 9, 2010

American employers eliminated 4.2 million jobs in 2009 and sent unemployment soaring into double digits for the first time in more than a quarter century.

Since the fall of last year, the official jobless rate has been over ten percent, while the unofficial rate (taking in the severely underemployed and those who have given up looking) has been over 17 percent.

And, despite the ridiculous "green-shoots" speculation of the Obama administration and overblown "recovery" fantasies of the financial media that has blown every major economic story of recent years, the situation is getting worse.

Unemployment held steady at 10 percent – not because the job market is stabilizing but because tens of thousands of Americans gave up looking for work and are no longer counted among the unemployed.

The new unemployment numbers are devastating, and they should send up red flares in Washington, a city where officials have so far has been absurdly neglectful of the most serious social, economic and political crisis facing the country.

No issue, no concern, is more likely to shift the sentiments of the electorate than mounting joblessness and economic instability. And there is no rhetorical flourish, no diversionary tactic, sufficient to win forgiveness from unemployment remains in double digits come election day – let alone if it is still rising.

If the president or congressional allies think health care reforms that for the most part won't kick in for half a decade or mimicking George Bush's tough-on-terror blathering is going to make voters forget the fact that one in ten of them are jobless or that one in seven of them are in dire employment straits, then the Democrats are in for the rudest of all political awakenings.

Read the full article at:

http://www.thenation.com/blogs/thebeat/514394/the_2010_political_timebomb_is_unemployment

[leftstreet]

1. No doubt the Green Jobs and other Jobs Programs will be in place by then

:rofl:

[Craftsman]

2. If the unemployment is not below 7% by 11-10 the dems lose big

The economy stupid can cut both ways.

[Better Believe It]

3. 7%? It could very well be above 10% by November. Read this article:

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x7440975