Obama Acknowledges Employment Will Top 10% – Experts Predict 11% Unemployment Throughout 2010

Fed mulls tweaks to economic revival programs

WASHINGTON – With signs the economy is improving but still fragile, Federal Reserve policymakers are considering whether some programs intended to drive down rates on mortgages and other consumer debt should be slowed down. (Is the Administration  reversing course here or are they just running out of money ..)

The nation’s unemployment rate — now at 9.4 percent — is expected to keep climbing into 2010. Acknowledging that the jobless rate is going to climb over 10 percent, President Barack Obama said Tuesday he’s not satisfied with the progress his administration has made on the economy.

Some analysts say the rate could rise as high as 11 percent by the next summer before it starts to decline. The highest rate since World War II was 10.8 percent at the end of 1982.

An index measuring chief executives‘ business expectations showed an improved outlook from last quarter‘s record low, but many still expect declines in sales, jobs and capital spending.

“We don’t see continued free fall,” Ivan G. Seidenberg, chairman of the Business Roundtable and CEO of Verizon Communications, said Tuesday. “But nobody’s ready to suggest they’re going to begin hiring.”

http://news.yahoo.com/s/ap/20090624/ap_on_bi_ge/us_fed_interest_rates

Remember Obama’s promise? His “stimulus package” was going to keep unemployment below 8%. Obama’s “stimulus” threw a few desperately needed crumbs to the unemployed – but who is really getting the trillions of taxpayer’s dollars the corrupt politicians are handing out ?

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  3. Come on liberals, I’ve seen your untruthful liberal articles in the Buffalo News before. The facts are: On Oct. 9th 2007 the Dow Jones hit an all-time record high of 14,164 with George W. Bush as president. On Mar.9th 2009 the Dow bottomed out at 6,547 with Obama as president. (http://www.mdleasing.com/djia.htm)

    Obama came in office in Januray 2009 with 779,000 jobs lost his first month and Feb. and Mar. were not much better.

    During the 8 years of the George W. Bush Presidency the lowest annual unemployment rate was 4.61% in 2007. Full employment is considered to be 5%.

    Obama promised us that unemployment wouldn’t go above 8% with his 787 stimulus plan. That was a lie. Unemployment skyrocketed from 7.2% when Bush left office to 10.2% when Obama was in office and only dropped to the currect 9.6% because Americans dropped off the unemployment rolls completely. During the 8 years of the George W. Bush Presidency the lowest annual unemployment rate was 4.5 in July 2007, the highest annual unemployment rate was 5.76% in 2008. During Bush’s 8 years as President the average unemployment rate was 5.27%, roughly 1/2 half of what the unemployment rate is today.

    Over a trilion taxpayer dollars wasted and still almost 10% unemployment rates with Democrats in Congress almost 4 years and Obama president almost two years. The Democrats socialist policies surely and clearly aren’t working and even Europe is truning their back on their socialist policies.

    So liberals, please stop lying with the numbers. All one has to do is check and verify that you’re lying again.

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