Obama Aides See ‘Extended Period’ of Unemployment (too stupid to do anything about it)

[brentspeak]

So then 1) give the stiff-arm to Wall St. and 2) change America's ruinous "free" trade policies, idiots!

http://www.bloomberg.com/apps/news?pid=20601087&sid=aXaMufrB.FA0

Obama Aides See ‘Extended Period’ of Unemployment

March 16 (Bloomberg) -- U.S. employers won’t hire enough workers this year to lower the jobless rate much below the level of 9.7 percent reached in February, three Obama administration economic officials said today.

The proportion of Americans who can’t find work is likely to “remain elevated for an extended period,” Treasury Secretary Timothy F. Geithner, White House budget director Peter Orszag and Christina Romer, chairman of the Council of Economic Advisers, said in a joint statement. The officials said unemployment may even rise “slightly” over the next few months as discouraged workers start job-hunting again.

“We do not expect further declines in unemployment this year,” the officials said in testimony prepared for the House Appropriations Committee. They predicted the economy would add about 100,000 jobs a month on average -- not enough to bring the jobless rate down substantially.

Today’s projections are in line with the 10 percent average unemployment forecast for this year in last month’s budget plan. Christopher Rupkey, chief financial economist at Bank of Tokyo Mitsubishi UFJ Ltd. in New York, said the administration’s language risks damping expectations for a recovery.

[Skittles]

1. lol

this is all getting so predictible

[wtbymark]

2. Wall St. doesn't know how to create jobs for Main St. n/t

[babylonsister]

3. lol A negative post? Why bother? There's got to be some place

on this great big blogosphere that would make you happy. And I 'so' want you to be happy! :fistbump:

[JimGinPA]

6. +1

[dionysus]

10. he must be real fun at parties.

:rofl:

[last1standing]

38. I'm told bush* was "real fun at parties". Someone you could have a beer with.

Aren't you glad nothing's changed?

[Bluenorthwest]

35. In my county, Unemployment is higher than that 10%

and the people who are losing housing and going hungry are happy each and every time anyone draws attention to their situation.
The suffering of others is not about making you happy, or some poster happy. A man cried on my porch yesterday because I gave him $5 to pull some weeds. He cried. Is there an emoticon for a weeping adult man stuck in poverty? If there was, I'd use it.

[last1standing]

37. OP criticizes the administration so you personally attack the poster.

It happens over and over like this. It proves what a weak and cynical argument you have.

It also proves who the REAL haters are.

[mr715]

4. Or perhaps the economy is more complicated than that.

Barack Obama is anything but stupid. I doubt his aides are either.

I respectfully request that you do not call our President stupid. I have a hard time believing that enacting reforms would immediately end unemployment. Perhaps, even with the most liberal agenda, there would still be an extended period of unemployment.

[brentspeak]

7. Well, then you've never heard of Franklin D. Roosevelt

The unemployment/underemployment epidemic is completely man-made, created by economic policies which allow Wall St. to run wild with all kinds of financial games, as well as finance the offshoring of America's jobs. Obama has shown is too craven to even remotely change the status quo; in fact, he's even trying to shore the status quo up.

[mr715]

14. WORLD WAR 2!!!

Yes.

Let us have a World War.


Maybe if we conscript, and have all males go to Afghanistan and Iraq, then we can start having good employment numbers.

Can you think beyond your ideological blinders?

[brentspeak]

15. Uh, did you do well in American History class?

It was called "the New Deal".

[mr715]

18. Straight A's in history and a minor in politics from NYU

I know all about the New Deal.

But it was WW2 that killed the Depression.

[mr715]

19. Heres a wikipedia link.

Sorry that it is wikipedia, but I'm not going digging with work in the morning.

http://en.wikipedia.org/wiki/Great_Depression#World_War_II_and_recovery

[mr715]

21. Oh, and for good measure.

http://useconomy.about.com/od/grossdomesticproduct/p/1929_Depression.htm


Key point. The New Deal caused "extended unemployment". And it took a world war to end it.


FDR has extended unemployment Brentspeak, and it took World War 2 to end it.

We have extended unemployment too, and its getting better - the same way it did during the New Deal (slower because government did not open up many huge programs because our recession was not a depression).

If you want Obama to have a sudden end to unemployment... well, you better hope for a massive, massive expansion in Iraq and Afghanistan.

Otherwise, sit tight and realize they are just as smart or smarter than us and are trying to fix our problems.


I did very well in history.

[Zenlitened]

27. Right-wing horse-shit:

The New Deal caused "extended unemployment".

[mr715]

28. Context.

The original poster was complaining about Obama causing or not responding to unemployment.

Read my posts. The New Deal helped, but Obama is doing something similar.

Context, sir. Context.

[Drunken Irishman]

30. It's also unfair to compare the unemployment rate eight-plus years into the FDR administration...

To the unemployment rate one year into the Obama administration.

Yet that's what this poster seems to be doing.

[Zenlitened]

39. Context lacking. Or, your statements are entirely at odds.

Care to clarify?

[Drunken Irishman]

23. Wow...you just embarrassed yourself.

Do you know what the unemployment rate was a year into FDR's first term?

22%

Do you know what the unemployment rate was in 1932, the year Roosevelt was elected?

24%

Unemployment did decrease prior to WWII (it was 16.9 in 1936), however, it didn't get down to pre-depression levels (lower single digits) until 1942...or a year after the U.S. entered the war (unemployment was 4.7 then).

[mr715]

26. I really want to see this guy did himself out of that.

Thank you Mr. Drunken Irishman.

[brentspeak]

33. Who embarrassed who???

My post pointed out that FDR reduced employment, which your own post verified. Obama is doing nothing to reduce unemployment -- actually doing everything he can to ensure the high unemployment will continue. All Obama is willing to do is rely on today's new government-rigged unemployment statistics to make things look rosier than they are. FDR didn't have the luxury (or the willingness) to settle for statistics-as-lies.

[Drunken Irishman]

41. If you stop now, maybe I won't laugh at you.

FDR lowered unemployment by a percentage point in the span you're talking about. One point! haha

Granted, the unemployment rate rose in Obama's first year - but it hasn't risen in the last few months and shows signs of declining.

So there you go. Get back to me three years from now. If unemployment is still at 9.7%, I'll be inclined to say you're right.

But right now? Obama isn't much different than FDR. And I'm sure if you were around back then and so was DU, you would've deemed (along with the Republicans, who you guys constantly side with) the New Deal a failure because it only managed to knock off a percentage point of depression-era unemployment - which surely was worse than what we see today.

[kjackson227]

40. Thank you, mr.715. Also, I remember President Obama specfically...

stating that unemployment will continue to be a problem until possibly 2011. People continually REFUSE to LISTEN to what the man says. It's very aggravating to say the least.

[FSogol]

5. He should wave his magic wand and *poof* everyone is employed!

That's what you would do, right? After all, he's been President for a year!

[denimgirly]

8. Geitner and Burnanke take another puff from their Cigars....is anyone surprised?

[Teaser]

34. If you don't know how to spell their names

why should we think you've studied them long enough to have an opinion on them?

[msongs]

9. plenty of job security for the military and corporate welfare contractors tho eh? nt

[jefferson_dem]

11. Yeah! And Obama burned my toast!

And forgot to take out the trash this morning! :grr:

[brentspeak]

13. What's the matter? Obama's butt-kissing of Wall St. doesn't make you ashamed?

[jefferson_dem]

20. "...doesn't make you ashamed?"

Ah... Projection revealed.

[Name removed]

12. Deleted message

Message removed by moderator. Click here to review the message board rules.

[rug]

16. Captain Smith sees Extended Period of taking on water.

Doesn't know what the fuck to do about it.

[Imajika]

17. I bet they are lowering expectations on purpose...

The temporary census jobs alone should help a fair amount.

Unemployment will improve this year. I bet 8.8% by November. Still bad, but not 9.7% bad.

[ChimpersMcSmirkers]

22. That's a fair guess. The job market will get better, it's just going to be

more gradual then the past. Our economy just came through a massive shit storm and all things considered is holding together pretty well.

[Drunken Irishman]

24. They did the same thing last month.

There was a flurry of stories prior to the February employment report that suggested unemployment would rise to above 10%.

The report then came out and unemployment, while not great, didn't rise.

[uponit7771]

25. Obama aides = Obama? Are you able to tell the difference? Do you think M$M is a credible source?

[Skittles]

32. no

but knowing lots of people out of work for a long time is a credible source

[Historic NY]

29. My 94 yr old cousin think that POTUS should do like FDR create a WPA...

that would snap the Pukes necks, as it did back then. Put people to work, doing things for a check rather than a hand out. There is lots to fix in properties, parks, etc that (we) (us) own.

[rufus dog]

31. The US economy and employment rate is not like the corner car wash

Cutting the Managers salary to hire more employees while cutting prices to increase customers works for Joe the Car Wash owner. Turning around an economic collapse in one year has been accomplished exactly ZERO times.

Sure the Gov't could print trillions of dollars and put millions to work and solve the solution short term but the long term effects would be worse.

[CreekDog]

36. Well, when you call Obama "Stupid" I know I'm going to learn something by reading

:sarcasm:

so i didn't bother.