Just wanted to be nice about it.

Welcome to my World!

Via The Old Grey Lady:

The United States economy shed 190,000 jobs in October, and the unemployment rate reached a 26-year high of 10.2 percent, up from 9.8 percent in September, the Department of Labor said Friday in its monthly economic appraisal.

While the pace of job losses has slowed significantly since the peak of the recession last winter, the unemployment rate, which measures the number of people actively seeking work, continues to climb, and economists do not foresee relief until well into next year.

“There’s no doubt that the slashing and burning of jobs has abated quite a lot,” said Allen L. Sinai, the founder of Decision Economics, a research firm. “The economy is recovering, but it is a very soft recovery.”

The biggest losses came in the construction, manufacturing and retailing sectors. Health care companies added 29,000 jobs to their payrolls, and the number of temporary workers increased by 34,000 — a significant gain that could indicate employers are beginning to expand their businesses again.

The Labor Department also revised September’s losses to 219,000 from 263,000.

Dean Baker, a director for the Center for Economic and Policy Research, said he did not expect declining unemployment rates until next spring. “We may be looking at very high levels,” Mr. Baker said, “barring a policy response, for several years into the future.”

Um, Why should there be any policy response? I believe that we are already tapping our resources to the limit now.

On Thursday, in anticipation of the unemployment report, Congress overwhelmingly voted to extend benefits for jobless workers for up to 20 weeks. That will soothe the short-term financial pain of many families, but demands for a new wave of government relief may intensify if companies continue to cut back.

Yes, let’s encourage people NOT to look for a job and continue to spend ourselves into a hole; by being a nanny state.

So far, the federal stimulus package has injected billions into local economies, giving states money, for instance, to finance construction projects or retain teachers. The housing and auto sectors have been propped up with government credits meant to encourage spending. But weak consumer demand and hefty labor costs are still forcing many employers to cut positions and reduce hours to survive.

So much for Hope and change!

The article goes on trying to defend President Obama, which is so typical for the New York Times, but it is quite obvious, this President has failed on all fronts, the stimulus, the bailouts —- everything. He is, in fact, a black Jimmy Carter.

Ed Morrissey says:

This is now Obama’s economy.  He owns the double-digit unemployment level, having bought it with the $787 billion stimulus plan that he promised would keep unemployment no higher than 8%.

I agree with that. Obama simply continued the bailouts that President Bush started, which was a huge mistake.

The AP Reports:

But the loss of jobs last month exceeded economists’ estimates. It’s the 22nd straight month the U.S. economy has shed jobs, the longest on records dating back 70 years.

Counting those who have settled for part-time jobs or stopped looking for work, the unemployment rate would be 17.5 percent, the highest on records dating from 1994.

Now, if I were a partisan Blogger, I would simply sit here and blame Obama for it all. However, I am a bit more smarter than this. This all goes to Carter and then to Clinton. This video from the Wayne County Republicans will explain:

These unemployment numbers are just a ripple effect of all of this. Bush had a hand in it, as well as Obama. This is what happens when you elect faux Conservatives as Republicans and it is what happens when you elect Socialists.