Unemployment is now 9.8%.*

During the Bush administration Democrats talked about jobless recoveries and reminded us that the official unemployment rate did not reflect those who were working part time or who had given up looking for work.** The "real" unemployment rate was much worse. Republicans were quick to point out that employment was a trailing indicator. Employers don't begin hiring until the recovery is well underway.
Now the two sides have switched arguments.
9.8% is higher than that predicted by the Obama administration without the recovery plan.

Democrats continue to blame the Bush administration, saying the economy was in much worse shape than they realized while others see this as a sign that the stimulus is not working.
Greg Mankiw has some interesting observations.
*Please see Standard Political Disclaimer
**If these workers are included, the current rate is 17%


Comments: 14
The blame game is the great american pastime. Always blame the other guy and screw the figures around to make you look as good as you can. If they ever held an honest job they might be a little more sinsitive to the situation.
The poor dears, there is nothing left that they haven't tried (or so they think).
I hate it, I want to work
Like Obama, Reagan after a year in office his unemployment numbers went up and he was being excoriated in the press. But after a year and a half of his policy's the economy came back, as a matter of fact the economy went on a 17 year boom.
The problem today is that Reagan and Obama are complete opposites in economic policy. Reagan slashed taxes, made money easier to borrow for the small business person which enabled them to hire people.
Obama has raised taxes and fees on all small bussiness and personal citizens- has spent-borrowed trillions of dollars and a year later nothing is getting better.
So Obama you have another 6 to 8 months to show if your policy worked as well as Reagan's.
And Reagan also managed to defeat the Evil=Empire and watch the Berlin Wall crumble.
ITS=ON!
I have to agree with you RONALD REAGAN SET UP THE CRASH WE ARE IN AT THE MOMENT, AND THE ONLY WAY TO RECOVER FROM IT IS TO CHANGE THE LANDSCAPE.
Oh, you DID SAY THAT. Don't even think of denying it. The reason for this recession has nothing to do with a jobless recovery PRECEDING IT. It does have everything to do with a SERIES OF BUBBLES BURSTING. And the bubbles were engineered and built and nurtured by the very same policies that gave BUSH senior ALL his political troubles.
The Carter diaster of course was not his fault either- right, Karl- so, Karl what consevative was responsible?.
Karl, it is unbelieveable how gutless you progressive-liberal-democrats are.
17 years of unmatched economic growth for America, proven by the numbers and lefist-loons continue to make fools of themselves in lying about the truth.
The Obozo presidential follies continue- Karl, whos at fault- Sarah Palin???
Hey, Obama instead of the olympics how about some JOBS!!