Unemployment Black Hole
While the government is reporting that the official unemployment rate is at 10.2%, the New York Times is reporting a much bleaker, albeit unofficial, figure here.
In all, more than one out of every six workers — 17.5 percent — were unemployed or underemployed in October.
The economic stimulus that the Obama administration is overseeing is obviously not working. If anything is going to help get us out of this economic meltdown, tax cuts and incentives for the private sector to hire new workers would seem to be the answer to the increasing number of unemployed workers. Unfortunately, I don't believe Obama has the vision to see beyond his never-ending quest for undeserved income redistribution.
Posted by Rick | November 7, 2009 01:01 PM