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Put this on an Olympic scorecard: 9.8

By Michelle Malkin  •  October 2, 2009 09:57 AM

President Obama was unavailable for comment:

The American economy lost 263,000 jobs in September — far more than expected — and the unemployment rate rose to 9.8 percent, the government reported on Friday, dimming prospects of any meaningful job growth by the end of the year.

The Labor Department’s monthly snapshot of unemployment dashed hopes that the pace of job losses would continue to slow as the economy clawed its way back from a deep recession. Economists had expected 175,000 monthly job losses.

“People have been celebrating that we’re through the financial crisis, but the underlying issues are all still there,” said Dean Baker, co-director of the Center for Economic and Policy Research. “We’ve lost trillions of dollars in housing wealth, and consumption’s going to be weak. It’s not the ’30s, but there’s really nothing to boost the economy.”

Despite help Washington’s $787 billion stimulus, state and local governments slashed 47,000 jobs in September in the face of shrinking budgets. And auto dealerships, which added jobs in August as business picked up because of the “cash for clunkers” rebate program, cut 7,100 positions last month.

Source: NYT

Posted in: fiscal stimulus

House Republicans make counter offer to Obama's fiscal cliff non-starter

December 3, 2012 07:36 PM by Doug Powers

Return volley

Obama’s Layoff Bomb

October 31, 2012 09:56 AM by Michelle Malkin

Update: Bankrupt green crony A123 gets a last-minute lifeline

October 17, 2012 10:01 AM by Michelle Malkin

Categories: Enviro-nitwits, fiscal stimulus, Politics