Obama: Unemployment likely to keep ticking up

Jeez Wally, 'Ya really think so?

Probably the one and only statement that he's ever made that actually may be correct.

AP News

WASHINGTON (AP) -- President Barack Obama says unemployment is likely to tick up for several months as the economy recovers from its deepest downturn in decades.

The president said Tuesday that renewed employment typically lags behind other signs of improvement as a swooning economy turns around.

More than 2 million jobs have been lost since Congress passed Obama's $787 billion economic stimulus package. The unemployment rate stands at 9.5 percent, the highest in 26 years.

Obama said the single biggest challenge for the U.S. and other nations is the creation of enough jobs that pay good wages.

He spoke in the Oval Office after meeting with Dutch Prime Minister Jan Peter Balkenende (YAHN' PAY'-tehr BAHL'-keh-nehn-deh).

[edit on 7/14/2009 by billybobh3]

reply to post by billybobh3


Oh nice, so what are the indicators that the economy is recovering? I sure don't see any. Other than the fact that the banks are getting richer, but what else is new.

When some serious good news comes out then I'll start to change my mind, but while they keep saying things like, well we still lost money and jobs, but its better than expected, it just isn't going to fly.

And wait a second didn't he say we had to pass this bill right now yesterday was to slow or we are all going to die in a hellish pit of fire?

Who wudda thunk it, the Obama is a fortune teller too.