"Employers in the U.S. cut 467,000 jobs in June, the unemployment rate rose and hourly earnings stagnated, offering little evidence the Obama administration’s stimulus package is shoring up the labor market."
The CBS Evening News, which led with the story, was the only network newscast to mention the President's remarks: "It's been nearly four months since...Obama signed that $787 billion stimulus into law," said CBS, and "the economy is continuing to hemorrhage jobs." The AP says that Obama was "scrambling" yesterday to calm Americans unnerved by unemployment rates still persistently rising nearly four months after he signed the biggest economic stimulus in history."
The AP reports, "For the first time, the administration admitted the economic forecasts it used to sell the stimulus were overly optimistic." Vice President Joe Biden's "top economic adviser," Jared Bernstein, said, "At the time, our forecast seemed reasonable."
No comments:
Post a Comment