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How much worse could it possibly get?

This article explains (and provides detailed graphs) how the Obama Administration continues to "tweak" the unemployment numbers to mask the harsh reality of the highest unemployment rates we've seen in decades), so much so that even Obama and Biden are starting to believe their own exaggerations!

True unemployment rate already at 20%

"Over the years, the government has changed the way it counts the unemployed. An example of this is the criticized Birth-Death Model which was added in 2000. The model is designed to account for the birth and death of businesses and the resultant lag in survey data. Unfortunately, the model doesn't work that well during economic contractions (like we have now) and consistently overstates the number of jobs being created each month."

http://blogs.moneycentral.msn.com/topstocks/archive/2009/07/06/true-unemployment-rate-already-at-20.aspx

When will this administration OWN this problem?

 
LoriKeet

Asked by LoriKeet at 12:05 PM on Jul. 17, 2009 in Politics & Current Events

Level 45 (194,908 Credits)
This question is closed.
Answers (45)
  • The economy is in bad shape and will not get better for quite awhile regardless of the stimulus money. With the healthcare reform and the cap and trade bill fast approaching we are headed for a train wreck with reality. The first problem is going to occur when the minimum wage goes up on the 24th. Now, when Bush signed this into law we were not in such a bad economy so the actual idea is a good one. The problem lies in the fact that small businesses and even places like McDonald's will have to make some changes in ranks. Then on the heels of this comes healtcare. Another whammy to the small business sector. Since the majority of the $250,000 and over range are SB's they will have taxes raised also. Then comes cap and trade which will affect ALL of the country. Will Obama own his share????? Well he hasn't yet so I guess not.
    foreverb3

    Answer by foreverb3 at 1:15 PM on Jul. 17, 2009

  • If they did OWN this problem - would it change things for this country and those who have been affected by things? Will it change the views from all of those who oppose this administration? Probably not.
    Anonymous

    Answer by Anonymous at 12:08 PM on Jul. 17, 2009

  • Just hold on too your seat. It is going to get worse. Especially if cap nad tax or healthcare passes. Then you will see the total collapse of our economy. I truly expect to see violence come about soon. As unemployment numbers continue to rise and people become more desperate from losing everything they have, things will get ugly
    Carpy

    Answer by Carpy at 12:09 PM on Jul. 17, 2009

  • Carpy has answered the question so nicely - she has some good points. I think you've gotten the answer to your question. Wow, that was fast.
    Anonymous

    Answer by Anonymous at 12:11 PM on Jul. 17, 2009

  • I believe it is going to get worse before it gets better! But that is not a reflection of Obama. It is a reflection of the many Americans not caring. Just my opinion.... and I have a right to that!
    Grandmarga

    Answer by Grandmarga at 12:18 PM on Jul. 17, 2009

  • When the republicans take ownership of the mess they created, then the democrats will have no choice but to own their part in it...
    sweet-a-kins

    Answer by sweet-a-kins at 12:40 PM on Jul. 17, 2009

  • :shaking head: Thanks for the info Lori as usual good job.I agree Carpy it is going to be one hell of a ride.
    tnmomofive

    Answer by tnmomofive at 12:41 PM on Jul. 17, 2009

  • They own it now sweet they are in full control.They wanted full control got it and they shut pubs out when it is convienient instead of oh the "transparency" and "bipartisianship" so they own it.
    tnmomofive

    Answer by tnmomofive at 12:42 PM on Jul. 17, 2009

  • tnmomofive,
    I think we can agree that this problem with the economy and jobs didn't start in January....My point is BOTH parties have to take responsibility and move forward. You can't fix a 30 year problem in 6 months. and you can excuse one party when the facts don't bear that out.
    sweet-a-kins

    Answer by sweet-a-kins at 12:47 PM on Jul. 17, 2009

  • **Can't excuse one party**
    sweet-a-kins

    Answer by sweet-a-kins at 12:47 PM on Jul. 17, 2009

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