Obama Economy Worst Since Great Depression
The US lost over 2.5 million jobs in the first four months of this year under the Obama Administration.
The US unemployment rate rose from 7.6% to 9.7% under Obama… the highest rate in 26 years.
Bureau of Labor Statistics– via Sweetness and Light
Obama said with the Stimulus Bill the unemployment rate would not go over 8% but the unemployment rate is currently at 9.7%.
And, Obama claims his plan is working.
The first 12 months of the U.S. recession saw the economy shrink more than twice as much as previously estimated, reflecting even bigger declines in consumer spending and housing, revised figures showed.
The world’s largest economy contracted 1.9 percent from the fourth quarter of 2007 to the last three months of 2008, compared with the 0.8 percent drop previously on the books, the Commerce Department said yesterday in Washington. Gross domestic product has shrunk 3.9 percent in the past year, the report said, indicating the worst slump since the Great Depression.