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Unemployment up. What does it mean to you?

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itsmesteph11

Asked by itsmesteph11 at 9:15 AM on Aug. 19, 2010 in Politics & Current Events

Level 39 (113,405 Credits)
Answers (21)
  • Well obviously it means that the stimulus is working, despite needing more stimulus money in the near future. And this is a clear sign of recovery! YAY!!!!!!!!!!!!!!!!!!!!!!!!!


    (In case anyone doesn't know, that was sarcasm)

    QuinnMae

    Answer by QuinnMae at 9:19 AM on Aug. 19, 2010

  • It means Obama was RIGHT.

    President-elect Barack Obama, 44 days before he becomes the 44th president, warned that the nation’s economy -– currently mired in a recession –- will get worse before it gets better.

    “If you look at the unemployment numbers that came out yesterday, if you think about almost 2 million jobs lost so far, if you think about the fragility of the financial system and the fact that it is now a global financial system, so that what happens in Thailand or Russia can have an impact here and obviously what happens on Wall Street has an impact worldwide,” he said in an interview with NBC’s Tom Brokaw taped Saturday and aired Sunday on “Meet the Press.”

    “When you think about the structural problems that we already had in the economy before the financial crisis, this is a big problem, and it's going to get worse.”
    http://blogs.abcnews.com/politicalpunch/2008/12/obama-warns-eco.html
    Rnurse

    Answer by Rnurse at 9:23 AM on Aug. 19, 2010

  • It means it is not yet time to relax (like we would have anyway) when it comes to the economy.
    countryspun

    Answer by countryspun at 9:28 AM on Aug. 19, 2010

  • Nothing.
    jewjewbee

    Answer by jewjewbee at 9:30 AM on Aug. 19, 2010

  • Not much. Other than lots more folks out of work.
    vbruno

    Answer by vbruno at 9:30 AM on Aug. 19, 2010

  • Rnurse, Great. That was 20 months ago. It's been worse for 20 months now. Did he happen to say how long that thought would take? It was a line of BULL. Of course it's going to be worse before it gets better. He's making it this way! What about all the times he has said things are turning around, we are recovering, we are on the right track? You think all he has to do is give some pearl of wisdom and that makes things right? UGH
    itsmesteph11

    Comment by itsmesteph11 (original poster) at 9:31 AM on Aug. 19, 2010

  • The average time for a recession to last is 2 years. Except when Roosevelt spent and spent and now when Obama is following the same course.
    Carpy

    Answer by Carpy at 11:10 AM on Aug. 19, 2010

  • Interesting, thank you.
    momentofpeace

    Answer by momentofpeace at 11:22 AM on Aug. 19, 2010

  • It means that more people have lost their jobs and may not find another that will allow them to pay their bills. This really all started long before Obama appeared on the scene. Things like Globalization (started back in the 70's), Free Trade agreements like Nafta and deregulation have all contributed to what is now happening. Free Trade agreements become the "law of the land" and can supercede the constitution. I remember when Nafta was signed, at the time hubby commented that "they'll turn this into a welfare nation", due to the ability it gives companies to move work off-shore. Nafta is really between Mexico, the U.S. and Canada but there are other similar agreements with other nations, they all work toward globalization. Globalization means that what happens in another nation, affects all the rest. Deregulation of the banking industry, which Republicans are all for under the less government mantra, has worked well..(cont)
    meriana

    Answer by meriana at 11:29 AM on Aug. 19, 2010

  • hasn't it....it allowed them to do what they wanted regardless of the effect on the general population. It looked like a good thing on the one hand but it certainly contributed to the current situation. When people in high places are allowed to do what they want with a view to their own bottom line, they will do exactly that. We can't blame just one person for this mess, it all started a long time ago and our politicians since that time have all had a hand in creating it.
    meriana

    Answer by meriana at 11:48 AM on Aug. 19, 2010

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