"A recession is when your neighbor loses his job. A depression is when you lose yours. And recovery is when Barack Obama and the Democrats in congress lose theirs!"
Unemployment reached record levels in California and other states according to Bloomberg.com:
Sept. 18 (Bloomberg) -- Unemployment rose in 27 U.S. states in August, with California and Nevada reaching record levels of joblessness.
Rhode Island rounded out the list of states with the highest level of unemployment since data began in 1976, the Labor Department reported today in Washington. California’s unemployment rate reached 12.2 percent and Nevada’s climbed to 13.2 percent.
The job market is showing signs of stabilizing as reports indicate economic growth is resuming this quarter. Economists surveyed by Bloomberg News this month said the unemployment rate nationally will reach 10 percent this year, a reminder that consumers are unlikely to lead the recovery.
What was that President Obama said back earlier this year that unemployment will be held to 8% if his stimulous package is passed? Another Obama lie.
To read the full article, go here.
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