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Economy
US unemployment to 'stay high'
2010-09-13
[Iran Press] US President Barack B.O. Obama's top economic advisor says the the country's unemployment rate will remain high for some time to come.
That's why Austan is an economic advisor, he can divine trends that mere mortals on main street can't figure out ...
Speaking to ABC's This Week morning talk show, Austan Goolsbee, the newly appointed chair of the White House Council of Economic Advisers, said that "this recession is the deepest in our lifetimes, the deepest since 1929."

"More than eight million people lost their jobs. It's going to take a significant push on our part -- and time -- before that comes down," he said. "I don't anticipate it coming down right away."

The US unemployment rate currently stands at over 9.5 percent as the economy lost 54,000 jobs last month.

Last week, Obama unveiled plans to help boost the Democratic Party's chances at the polls struggling economy, including USD 50 billion in infrastructure spending and USD 200 billion in tax cuts for companies investing in research and development.
To be added onto all the other debt he's run up ...
Goolsbee refused to state how many jobs the new stimulus package would create, ABC News reported.
Smart guy, the last set of calculations were a tad off ...
House Republican Minority Leader John Boehner has said he will support Obama's proposal to only extend the Bush-era tax cuts to people earning less than USD 250,000 per year.

Responding to Boehner's comments, Goolsbee said he would be "happy," but that he also has his doubts.
No doubt more subtle minds than mine can parse the meaning of that last sentence.
Posted by:Fred

#9   In contrast the Obama's have three 'Gala' parties scheduled for this week

Posted by: DMFD   2010-09-13 19:50  

#8  In contrast the Obama's have three 'Gala' parties scheduled for this week:

  • A reception for collegiate star athletes.

  • Congressional Hispanic Caucus Institute gala

  • Congressional Black Caucus Foundation's (CBCF)


Posted by: CrazyFool   2010-09-13 12:47  

#7  Let's remember to even up the currency issues between the US and China and add tariffs to offset the fact that China (and other third world manufactureers) uses slave labor and no environmental preservation costs.

Then watch the jobs come back home.
Posted by: Hellfish   2010-09-13 12:27  

#6  Unemployment will be high for a very long time.
Posted by: DarthVader   2010-09-13 11:31  

#5  Can't wait to see how many jobs it will create in Iowa's 82nd Congressional District this time. I'm sure it will be HUGE.
Posted by: Swamp Blondie   2010-09-13 08:05  

#4  Then cut capital gains taxes and corp income taxes, eliminate the death tax

Policies that Obama has been demonizing as "tax cuts for the rich". Better get used to very high unemployment for at least two more years.
Posted by: DMFD   2010-09-13 06:59  

#3  In other unrelated news taxes on employment and work will remain high.
Posted by: Bright Pebbles   2010-09-13 06:57  

#2  But, but, but we are in transition and no longer a smoke stack, manufacturing pollutor, we are now a about high-tech and services related economy.... no?

(Giant Sucking Sound redacated)
Posted by: Besoeker   2010-09-13 04:10  

#1  Good god this is not hard to figure out, squash Obama care, the financhal take over, roll back all his BS. Then cut capital gains taxes and corp income taxes, eliminate the death tax, set it in stone for ten years. Let the country get back to work.

These assclowns want this perpetual malaise and high unemployment - it makes us dependant on them just to survive.
Posted by: retired LEO   2010-09-13 04:09  

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