Unemployment sure to rise

Mr. Rosenberg, a former chief North American economist at Merrill Lynch, says the nation’s unemployment rate is headed for 12%-13%.

“There are serious structural issues undermining the U.S. labor market,” he said in a note to clients Wednesday, emphasizing that the surge in unemployment resulting from the Great Recession is only part of the problem.

He points out that beyond those who are counted as officially unemployed, “there are the record number of people [about nine million] who got furloughed into part-time work,” plus many more who have dropped out of the labor force altogether.

Mr. Rosenberg’s call comes at a time when despite glimmers of improvement in the nation’s job market (such as a slowdown in new unemployment claims and a small uptick in job openings), unemployment continues its sharp rise. The U.S. unemployment rate hit 10.2% in October, according to the Labor Department, double the 5% rate seen just last year and the highest level since 1983.

Sure liberals will be quick to point out that the current administration inherited this recession. Ummm...HOW?

When Obama got elected, unemployed teetered at just over 6%. Since winning the election, the unemployment rate SKYROCKETED! When Obama took office, unemployment was 8.5%. 11 months later, 10.2%.

Let's go back to 2000, when Bush won the first time. Unemployment rate was then a paltry 3.6%. the next 3 years it peaked at 6.5%. Around the time the Iraq War started. Since then it steadily dropped to 4.1% by October 2006.

It took 3 years for the unemployment rate to climb 2.9% in Bush's first 3 years in office. Now, since Obama won the last election, unemployment climbed a staggering 3.7%! It took Obama 11 months to exceed what Bush had in 3 YEARS!

Now we come to the health care fiasco. Yes, this will further effect unemployment. If the plan Pelosi sent through the house, passes, and is signed into law, look for unemployment rates to go even higher.

Why? According to a model developed by senior White House economists, these sorts of tax increases would result in as many as 5.5 million more American jobs lost over the next 10 years.

The effects of Speaker Pelosi's bill will be felt not only in these job losses, but in higher premiums, drastic Medicare cuts, dozens of new Washington bureaucracies, and new debt to be paid by our kids and grandkids. Is it any wonder that the more the public learns about this plan, the less they like it?

A vote for Pelosi's health care bill is a vote to keep more people out of work longer. It's that simple.

Right now there are two ways to curb this trend. Vote the democrats out of congress in 2010, then vote Obama out in 2012. Replace them with conservatives. Or at the very least give Conservatives a majority, that would also curb Obama's madness.