Can we say worst ever, yet?
Or should we wait for the final ten days to be over yet?
Two point six million jobs LOST in 2008. That isn’t counting the three weeks of 2009 yet.
That’s just one of the legacies of this disasterous administration. The list is almost endless.
The total number of Americans out of work has hit a sixteen-year high of 7.2 percent. Not since the Pappy Bush Administration have we seen numbers this high, and before that it was the Reagan Administration for the double-digit numbers.
But this current rate of job loss is the highest since World War II, when millions of soldiers were returning from war.
I suppose that the 2.6 million Americans who lost their jobs in 2008 were victims of the Bush war on the middle class.
But there is something dubious about the 7.2 percent unemployment figure. Remember, the Bush administration changed the criteria for calculating the unemployment figure so that it would magically appear lower than it really was. Basically, it would no longer count those people who’s benefits had run out or had become “underemployed”. It was a device that the administration could show a shrinking unemployment rate — even though most of us could see with our own eyes that the numbers of unemployed were actually growing.
So figure that 7.2 percent unemployment at the end of December is actually another five points “adjusted” for reality, and we are back up into the Ronnie Reagan unemployment territory.
Heck of a job, Bush.