#1 Longest Period of High Unemployment Since Great Depression02-17-2012, 08:56 AM
CBO: Longest Period of High Unemployment Since Great Depression
After three years with unemployment topping 8 percent, the U.S. has seen the longest period of high unemployment since the Great Depression, the Congressional Budget Office noted in a report issued today.
And, despite some recent good news on the economic front, the CBO is still predicting that unemployment will remain above 8 percent until 2014. The report also notes that, including those who haven't sought work in the past four weeks and those who are working part-time but seeking full-time employment, the unemployment rate would be 15 percent.
Combine that with gas prices approaching $4 per gallon, possibly reaching $5 per gallon by the end of summer, and you have a recipe for extended economic misery.
In related news, the third anniversary of Obama’s $800 billion “stimulus” legislation is approaching. You remember the stimulus — the bill Obama said would keep unemployment from reaching 8%. Three years later, we’re looking at unemployment above 8% until 2014.
Liberalism is just communism sold by the drink.
02-21-2012, 01:43 PM
- Join Date
- Jun 2005
- Woodland Park, Colorado, United States
Hope and change baby. Where are those O Blah Blah bumper stickers? The ones that say;
"I was DUmb enough to vote for the Marxist the 1st time, why change now?"Education without values, as useful as it is, seems rather to make man a more clever devil.
C. S. Lewis
Do not ever say that the desire to "do good" by force is a good motive. Neither power-lust nor stupidity are good motives. (Are you listening Barry)?:mad:
|« Previous Thread | Next Thread »|