Are You Better Off Now After Eight Years Of President Bush?

Jobless rate jumps to 5-year high of 6.1 percent

The nation’s unemployment rate zoomed to a five-year high of 6.1 percent in August as employers slashed 84,000 jobs, dramatic proof of the mounting damage a deeply troubled economy is inflicting on workers and businesses alike.

All told, the number of unemployed rose to 9.4 million in August, compared with 7.1 million a year ago. Economists predict more job losses ahead, pushing the jobless rate to 7 percent by the fall, according to some projections.

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4 thoughts on “Are You Better Off Now After Eight Years Of President Bush?

  1. Publius

    I’ll admit it – I have. I’m that typical middle-class family with a taxable income of $70k. I saw my federal taxes decrease, I saw increased job security, and saw the elimination of all debt except my mortgage, car loan, and student loans.

    And keep in mind that unemployment has been at record lows for the last five years – even beating that of the 1990’s when six percent was considered low and full employment…

    Sure, gas costs a little bit more and food costs a little bit more, but with a little reprioritization, economic downturns can be weathered. If we weren’t handing out subsidies to farmers hand-over-fist, food prices would drop. If stupid policies to fight “trade deficits” weren’t in place, gas wouldn’t be so expensive.

    But that’s economics… I’m sure if oil prices were low and we had a strong dollar, you’d probably complain about how trade deficits were high and China owns all our debt (which would be factually inaccurate, anyways, but it probably wouldn’t stop you from making the argument).

    Any solutions you have in mind? Price controls? Higher tariffs? Higher taxes on companies that send jobs overseas always seems to be a favorite for you guys (but in the same breath you refuse to acknowledge the effect of high taxes on job creators here in the US, because you always moan they don’t pay their “fair share.”

  2. Ferrell Gummitt

    Are you better off after 10 months of Obama??? 10.2% Unemployment, promises from the administration it would not go beyond 8.5% with the “Stimulus” Program.

    We can start with Obama’s demonizing of corporations, the Rich, even the Chamber of Commerce. He uses his office and czars to single out industries or companies to terrorize them. No one will hire, expand, borrow or anything until He is gone. With His cronies Pelosi and Reid threatening to put more burden on the rich and businesses, no wonder everyone is freezing their spending.

    Look at the bills passed or being discussed: cap and trade, health care, etc. Must of these will cause an increase in business costs and hate employment even further. Look at the language of Congress and the Administration and you will an anti capitalist and anti business mentality.

    When Bush was in office, the POTUS evidently had complete control of the economy, since liberals blamed him for everything that happened. Now that Obama’s in office, the POTUS evident has zero control of the economy, because liberals refuse to blame him for anything.

    Why the double standard?

    1. The truck was driven so far of the road that it takes times to get things corrected. There is no double standard. To pretend that the unemployment today (11/6/09) is Obama’s fault is to really not understand even the most base of economic principles.

      If you think that things are rough with the stimulas package, consider what it would be like without the measure passed by a Democratic Congress and signed by President Obama.

      I have been honest about the need for stimulas measures on my blog, more control of the banking system (far more, in fact than Obama favors) and agreed with the car manufactures bailouts when both Bush and Obama decided on that policy. I was also very much in favor of TARP funding when Bush was still in charge in late 2008.

      So I think on the matters of economic policy there has been no double standard on my blog.

      If I am wrong, please let me know where you think I have a double standard on economic issues..

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