WaPo: Unemployment projected to rise for another year before topping out in double digits

[Amerigo Vespucci]

Recovery's Missing Ingredient: New Jobs
Experts Warn of A Long Dry Spell

By Michael A. Fletcher
Washington Post Staff Writer
Monday, June 22, 2009

Despite signs that the recession gripping the nation's economy may be easing, the unemployment rate is projected to continue rising for another year before topping out in double digits, a prospect that threatens to slow growth, increase poverty and further complicate the Obama administration's message of optimism about the economic outlook.

The likelihood of severe unemployment extending into the 2010 midterm elections and beyond poses a significant political hurdle to President Obama and congressional Democrats, who are already under fire for what critics label profligate spending. Continuing high unemployment rates would undercut the fundamental argument behind much of that spending: the promise that it will create new jobs and improve the prospects of working Americans, which Obama has called the ultimate measure of a healthy economy.

"Our hope would be to actually create some jobs this year," Obama said in an interview with The Washington Post in the days before taking office.

Obama has defended his economic approach -- which includes the $787 billion economic stimulus plan and record investments in health care, alternative energy, education and job training -- as necessary to stabilize the shaky economy and point the way to job growth.

http://www.washingtonpost.com/wp-dyn/content/article/2009/06/21/AR2009062101859_pf.html

[madrchsod]

1. no jobs=republican house

and a senate without the democrat`s 60 votes.

[Teaser]

2. doubtful

the hurdles the repubs would have to overcome to regain the house are too large. a diminished margin, but they will not retake control.

[bluestateguy]

3. Same pattern as the 1981-82 recession

And I would remind people that Ronald Reagan pulled off his 49 state landslide with an unemployment rate of almost 8%.

This is still Bush's economy.