September unemployment is 9.8 percent

[GMScud]

Originally Posted by Schneed10

For someone who supposedly has an MBA, you have a really poor understanding of economics. The President of the US and the public policy he sets has very little impact on the unemployment rate.

Since you're a fan of analogies, Obama trying to stem the surge in unemployment is akin to building a dyke out of bricks to keep out a 90-foot tsunami.

The stimulus at most could swing unemployment by half a %, and that's IF it's fully successful. But to blame the 9.8% on Obama or the stimulus is ludicrous and reeks of failure to understand economics.

I'm not disagreeing with you here. I'm just curious though- Obama said the #1 goal of the stimulus is to create 3 million new jobs in two years. I don't have any figures in front of me as to how many adult Americans are unemployed currently, but I would think that if fully successful, 3 million new jobs would swing the rate by more than .5%.

Although I guess it doesn't really matter considering we're around 8 months into those 2 years and unemployment is still rising.