Obama Loses More Jobs In One Year Than Any President In Modern History
Posted by Mats on 03/01/2010
Worst. President. Ever. President Obama is the “Unemployment President.”
The unemployment rate was at 10.0% in December.
As we look back over 2009 we can now report that Barack Obama lost more jobs in his first year in office than any president in modern history. Barack Obama lost over 4 million jobs alone since his failed stimulus was passed in February.
USA Today reported:
Even before Barack Obama took the oath of office, his economic advisers projected that without hundreds of billions of dollars in government spending, the U.S. economy could lose another 3 million to 4 million jobs on top of the 3.1 million lost in 2008.
It turns out they were optimistic. Even with the $787 billion stimulus package that Obama signed in February, more than 4 million jobs have been lost in 2009, the worst year for job losses since World War II. The jobless rate that advisers projected would peak at 8% has topped 10%.
And it took him until December to hold a jobs summit to address the problem.
And Doug Ross reports that things are likely to get much worse before they get better.