Obama Myth Number Three
Myth number three is that Barack H. Obama was that if his first stimulus package was approved, unemployment would not go over 8 percent. We all know that some claim that unemployment as being below 10 percent when in fact experts know that the unemployment rate is really at 15-16 percent. The cause is that many have dropped from searching for a job. Also, many formerly two family working members (i.e., husband and wife) are now single working member and one fulltime stay at home mom or dad.
This week, the US Congress passed a $149B jobless aid and tax breaks. Sadly, small businesses that account for 65 percent of all American jobs received little but superficial benefits from this latest job stimulus bill. This true although this bill is being called something else (jobless aid and tax bill) since the first stimulus bill has such a negative perception by our fellow citizens. The current reported jobless rate is 9.7 percent and still nowhere close to the 8 percent Obama promised after nearly spending $1 Trillion dollars in full time work stimulus bills. Of course, this bill not all US Congressional bills are full of port projects with billions of waist to special interest parties.
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