Worst. President. Ever. President Obama is the “Unemployment President.” And he's only a year in, that's the scary part.
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.
links and story help courtesy of usa today, directorblue, gatewaypundit, huffingtonpost and research on the net