Get Ready For Some Serious Spinning
Let’s see how The One and his worshipful followers in the Media spin this
WASHINGTON (AP) – Out-of-work with no place to land, the legions of America’s unemployed are growing. The Labor Department is scheduled to release a report Thursday expected to show the nation’s unemployment rate edging closer to double digits. Wall Street economists predict the jobless rate will rise to 9.6 percent in June from 9.4 percent in May. That would mark a 26-year high.
The rising rate comes as recession-weary companies continue to cut workers. Economists expect a loss of 363,000 jobs in June, up from 345,000 job cuts in May.
Mind you you, this is during the promised “accelerated” stimulus spending that has “created or saved” some 30 million jobs since January as the unemployment rate continues to, er, climb to 26 year highs.
Damn you Chimpy!
Oh, and there’s this
Even if companies slow the pace of layoffs, they will be reluctant to hire until they feel certain the economy is back on its feet. That’s why economists are forecasting a continued rise in the unemployment rate over the next year. It’s expected to hit 10 percent this year.
Many think it could rise as high as 10.7 percent by the second quarter of next year before it starts to make a slow descent. Some think the rate will top out at 11 percent. Others think the peak will lower — around 10.5 percent — by the spring of 2010.
Yep, there’s going to be some serious spinning coming out of DC over the next few days.
My guess is, much like they do when their education or welfare polices fail, they will respond that the problem is not the policy but the scope, so we need to spend even more.
Gulp.
Politics | tree hugging sister | 
July 2, 2009 8:03 am
Subscribe
Will this spinning in the northern hemisphere (and we’ve got our own here in the southern hemisphere, too) lead to increased hurricane activity?
Well, since your storms spin the other way I’m not sure what the effect will be, but I’m sure it won’t be good.
And I fear that all the hot air that will be released in DC will have a far more deleterious effect on Sweet Mother Gaia…
All this spinning is going to cause a lot of nausea. So if you hear the sound of collective retching, you’ll know what’s happening, and why.
Nah, I’m already retching, JeffS.
All those pics of Obama playing pickup basketball… and it turns out he’s the political equivalent of Sam Bowie.
The US needs industry.The government has done nothing to increase manufacturing;nothing,nada,zero,zilch.They talk about retraining laid off workers. for what? to
work at Round Table Pizza? They should pass a law that no federal money can go to anything not manufactured in the US.That would be a start,but
the system is so corrupt,I think there’s no hope.