Hard times will be with us until we national economic strategy that doesn't involve selling out America to multi-national corporations. Outsourcing has decimated our industries and reduced the standard of living of Americans. We survive by borrowing. And all that borrowing has left us broke. President Obama has no answer for that. The Congress has bought off and do not represent the American people.
A national poll indicates that nearly half of all Americans think the economy has stabilized, but only one in eight believes that a recovery has started.
Four in 10 questioned in the CNN/Opinion Research Corp. survey released Thursday morning think the country's still in an economic downturn.
"Although polls in recent months have shown some signs of growing optimism, that appears to have stalled," said Keating Holland, CNN's polling director. "In January, 50 percent said the economy was in very poor shape; that figure dropped to 37 percent in April, but now it has risen slightly, to 41 percent."
Bill Schneider, CNN senior political analyst, said, "The prevailing view? We're in a stall."
The poll suggests that when it comes to an economic recovery, Americans agree with President Obama.
Discussing the economy last week at the White House, Obama said, "We're still not at actual recovery yet. So I anticipate that this is going to be a difficult, difficult year."
What has to be done is to get the economy (GDP) going again. And you can't get the economy going if people are losing their jobs. President Obama should do what he promised. And that is giving businesses incentives to keep their employees working. The government should also be spending money on the crumbling infrastructure which would lead to the creation of jobs. Also, businesses should be given incentives to remain on U.S. soil.
The pace of job losses quickened in June after slowing just a month earlier, casting a shadow over the Obama administration’s attempts to stanch months of declines in the labor market.
The American economy shed 467,000 jobs last month, and the unemployment rate rose to 9.5 percent from 9.4 percent, the Labor Department reported on Thursday. Job losses were widespread among the construction, manufacturing and business and professional services sectors.
The losses were sharply higher than economists’ expectations of 365,000 lost jobs.
Economists said a decline of 322,000 jobs in May had raised expectations that the market was bottoming out as the economy struggled to right itself, but the numbers on Friday dashed some of those hopes.
The figures also raised questions about whether the Obama administration, which has already passed a $787 billion stimulus plan, needed to step in again to shore up the American worker.
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