Monday, February 9, 2009

Obama has just said the REAL unemployment rate is 15%

Live, on TV, in the president's address.

I am in shock.

Did I mishear?

Did you hear the same thing?


False alarm!

Thanks to DIGG'er magoghm, linking to the CNN transcript:


I took a trip to Elkhart, Indiana, today. Elkhart is a place that has lost jobs faster than anywhere else in America. In one year, the unemployment rate went from 4.7 percent to 15.3 percent.

For a few moments there, I thought that our elected politicians started to speak truth backed up with facts.

False alarm, then!


Unknown said...

Even IF Lord God Obama had quoted 15.3%...He STILL would have been understating the REAL Unemployment numbers by around 3% (baised upon Pre-Clinton methodology) according to John Williams at

Unemployment is in REALITY...around 18%

And when it reaches 20-25%...There isn't an Economist around...that should be able to deny that we are in a MAJOR Depression.

Hollywood said...

Here is a little known "fact" from everyone's friend, Chuck Schumer, that you might not have caught either.

Anonymous said...

Add in the underemployed and you're talking real numbers.

Bet not too many of those folks standing in line at the unemployment office are Wall Street bankers.

Toss in the 1.7 million who lost their homes to foreclosure in 2007, the 2.5 million in 2008 and the 9 million or so that will in the next two years and we're talking Great Depression, Part II.

But who cares about that tiresome stuff, who won this week's "American Idol?"

"Mooo--mooooo-chew cud--Mooooo"