Jobless numbers bring expected political woe for Obama
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Today’s news of the worst unemployment rate in 26 years brings home a political problem the Obama administration has been expecting as it spent much of the week warning that the job market would get worse before it gets better.
The administration kept up that drumbeat this morning, arguing that the October jobless rate of 10.2% was sad, but insisting that the administration had helped bring the economy back from the brink and was focused on creating new jobs.
“First we have to acknowledge that the unemployment rate going to 10.2% is certainly a very stark reminder of how awful this recession has been and how much work we have left to do,” Christina Romer, chairwoman of the Council of Economic Advisors, said this morning.
“The president every day wakes up saying, ‘What can we do to get people back to work?’” she said.
President Obama used similar language earlier this week and is expected to make the same points this morning when he signs the $24-billion package that increases unemployment benefits by 20 weeks. The bill also extends some tax breaks and a popular tax credit for home buyers.
If the Democrats are reacting as expected, so too are Republicans.
In a prepared statement, Rep. Eric Cantor (R-Va.), the House Republican whip, today condemned the administration and took the opportunity to again complain about healthcare reform, still expected to come up for a House vote this weekend.
“As unemployment tops 10% this holiday season, Republicans have put jobs and the economy first, and are focused on developing real solutions that will put Americans back to work. Increasing taxes on small business, as Democrats will do to pay for government-run healthcare, is the wrong approach,” Cantor stated.
For more on what the numbers mean, read Business writer Don Lee’s story
--Michael Muskal
