Obama And Unemployment: More Simulus Measures Coming

By Victor Hatley on September 4, 2010, 11:09 am Posted in Finance News

Early Friday the Labor Department released their latest jobless figures for the week, and it was dismal. Their report showed that the overall job losses amounted to 54,000, causing the rate to go up to 9.6%. It wasn’t all bad though, the private sector boosted the economy with 67,000 new jobs in August, but it still wasn’t enough to keep the rate from increasing. They also revised the June and July reports showing that the losses in those months wasn’t as bad as previously stated.

Obama Has Another Plan

After the release of the report, the President spoke about the economy. He said that the administration plans to release a set of measures that should help the economy in the recovery process. He didn’t go into any specifics of these measures, but did say he is “confident Democrats and Republicans can come together to agree on steps to move the economy forward.” He continued with “The key point I’m making right now is the economy is moving in a positive direction, it’s just not moving as quickly as we’d like it.”

Oh No, Another Stimulus Package

RNC Chairman Michael Steele said that the “Recovery Summer” is over for the administration, he said that it ended “right where it began, with Americans continuing to lose their jobs and unable to find new ones.” Both House Leader John Boehner and House Minority Whip Eric Cantor made statements within minutes of the reports release.

 

What Could He Have Up His Sleeve

For the first time in several months the President will hold a press conference on Sept. 10th, and at this point it is hard to say what the President plans to do, but he has several stops next week with the economy and jobs in mind. On Monday this week, in a comment, he said that he and his teams were looking into legislation that would promote long and short term hiring, promote growth, and possibly include tax breaks. We can only pray that it is so.

Related posts:

1. Long-Term Unemployment Hits Wall Street Hard
2. Economy And Unemployment: Will Obama’s Plan Help, What About Cost
3. Depressed Economy: Zandi Says More May Be In Store For B.O. Admin
4. Unemployment Extension: Rate Drops–But Were Key Points Omitted
5. Unemployment Steady, GOP Rails Dems – Dems Blame Repubs

One Response to “Obama And Unemployment: More Simulus Measures Coming”

1. Prue says:

   May 2, 2011 at 9:02 am

   I’m not wrhoty to be in the same forum. ROTFL