Obama Jobs Deficit Hits 7.7 Million and Climbing
J.D. Foster /
The Department of Labor announced today the economy shed another 190 thousand jobs in October, pushing the unemployment rate to 10.2 percent and the running Obama jobs deficit to 5.7 million. Earlier in the week the Obama Administration released figures purporting to show the Obama stimulus had saved or created 640,000 thousand jobs. Only in Washington can jobs be saved by the thousands while being lost by the millions.
So far in his term in office, employment has dropped by about 3.5 million jobs, yet Obama repeatedly promised he would create 3.5 million jobs if only we would elect him President and give him control over the nation’s economic policies beginning with the enactment of a massive economic stimulus package. The President’s jobs promise means total employment should be at least 138.6 million by 2010, leaving him with a total deficit to close between now and December of 2010 of 7.7 million jobs. By his own standard, these results attest that Obama’s policies are failing. (more…)