Unemployment Rises to 9.8%
Although having predicted that unemployment would not increase beyond 8% if the immediately needed $787 billion stimulus package was passed, the Washington Post reports today that the unemployment rate reached 9.8% in September, and the economy lost a further 263,000 jobs in September, more than the revised 201,000 jobs lost in August.When the August results were announced, the President declared:"that while lost jobs are still “unacceptable” there are some signs of light.“For the second straight month, we lost fewer jobs than the month before and it was the fewest jobs lost in a year. So make no mistake. We're moving in the right direction. We're on the road to recovery. Ohio. Don’t let anybody tell you otherwise.”Now that the loss of jobs has increased from August to September and the overall unemployment rate has risen, not fallen, I think we can tell Mr. Obama otherwise. Perhaps we can judge the honesty of the President's remarks using the words now made famous by Representative Joe Wilson: "You Lie."