June 23, 2009
Posted: June 23rd, 2009 01:26 PM ET
President Obama said Tuesday that he anticipates the nationwide unemployment rate to surpass 10 percent this year.
President Obama said Tuesday that he anticipates the nationwide unemployment rate to surpass 10 percent this year.

WASHINGTON (CNN) - President Barack Obama said Tuesday that he expects nationwide unemployment to exceed 10 percent this year.

He reiterated a previous assertion that the United States is in the midst of the worst economic downturn since the Great Depression.

"I anticipate this is going to be a difficult period," Obama said.

The president added, however, that he doesn't yet see the need for a second stimulus package. He said it is still too soon to measure the impact of the $787 billion stimulus plan passed shortly after he entered office.

The president made his remarks during a news conference at the White House.

Filed under: President Obama


history repeats   June 23rd, 2009 3:35 pm ET

this board is being bombarded with fox viewers...its obvious. these right wingers really do things like this. they get together and bombard websites with their ignorance. just like they will go to amazon and buy 10 copies each of glenn becks new book before it comes out so they can shoot it to number 1. its a fake sense of credibility they are trying to create.

Kevin in Ohio   June 23rd, 2009 3:34 pm ET

More backpedaling and double-speak from this man. Thanks, America, for electing this loser.

Chris from NY   June 23rd, 2009 3:34 pm ET

This nations short attention is horrible. Doesn't anyone remember how long it took for us to get here? 8 years. I guess those years doesn't matter. The 6 months that Obama has been office does.

munchmom   June 23rd, 2009 3:34 pm ET

Anyone think the stimulus is working now?? No, and it never did!! And where are those 400,000 jobs or whatever it was that this was supposed to create? Oh, I know, he is talking about the number of people who are laid off who will get hired again by someone else...not good. God help us all.

Weli ( York, Maine)   June 23rd, 2009 3:32 pm ET

Tell them like it is Tedious898. Do people really think the party of No is solution here? Funny because it is because of their ignorant policies that we are here today. Wake up,Naysayers!

The Original No Incumbents 2010   June 23rd, 2009 3:31 pm ET

@Dutch/Bad Newz, VA
You wouldn't have to tax the employers sending jobs overseas if you would quit taxing the hell out of the ones that stay in America.

Just say NO   June 23rd, 2009 3:31 pm ET

Well apparently Biden and Obama "guessed" wrong when they thought their pork bill would create jobs................oh well, we all make mistakes. they'll just have to make another guess and see what works. You idiots who continue to blame Bush, need a brain transplant, yours is dead!

history repeats   June 23rd, 2009 3:30 pm ET

I AM SICK OF YOU PEOPLE BASHING EVERYTHING OBAMA SAYS OR DOES!!! we dont care about your opinions you have been bashing him before you knew anything about him and now after you know some things about him you do the same. we see through your obvious attempts and we dont care! maybe your tactics work against people who cant think for themselves but for the rest of us, WE CAN MAKE UP OUR OWN MINDS ABOUT WHAT HE DOES WRONG OR RIGHT!! my god! you bash him no matter what and think its fair because we bashed bush...the only difference was that bush was not intelligent at all!! he talked like a fool!! and he did many things obviously wrong. the only people that think iraq was a good idea are the people that for some reason still think our soldiers were fighting for OUR freedom when they beat an extremely weak army in a broken country!! its crazy!!

The Original No Incumbents 2010   June 23rd, 2009 3:28 pm ET

When do the fireside chats start?

Ennis, LA   June 23rd, 2009 3:28 pm ET

Like Bush, Obama minimizes all the bad news.

Mississippi Mike   June 23rd, 2009 3:27 pm ET

That's just wonderful. Are we going to stop spending the stimulus money then? Clearly, it hasn't done any good.

The Original No Incumbents 2010   June 23rd, 2009 3:27 pm ET

@Dutch/Bad Newz, VA "...Now, all those jobs belong to people in India."

Wait 'til you see what the government can do with healthcare.

ck   June 23rd, 2009 3:24 pm ET

I thought he was bragging about a "turnaround" last month... LOL

He is a reactionary ... no leadership here.

WAKE UP AMERICA!

Jeff in Atlanta   June 23rd, 2009 3:22 pm ET

Don't worry obama supporters. He will just blame it on Bush like you always do.
One day obama will actually become president. Oneday he will actually take ownership.
I guess he is just waiting for the inevitable turnaround of the economy. Too bad his policies are making that event move farther into the future. He may never get the chance to take ownership of the presidency because it may take longer than 4 years now to right the ship.

George   June 23rd, 2009 3:20 pm ET

Pesident Obama is more then likely right unemployment will reach 10% or more this year and there is no hope for it to get better until our government officials understand that by letting so many items made in other countries in for free our working class people or going to be relaxed under a bridge somewhere twiddling or thumbs. We need to charge a high tariff on anything made in another country to feed and house or citizens or the government could tell these companys that if they don't wish to pay these high tariffs that they have to pay a pay scale to the worker in the other country that would be compared to the pay scale in the United States. Then we would have fair pay for fair play.

Obama Depression   June 23rd, 2009 3:18 pm ET

Double digit unemployment? Change you can believe in!!!!!!!!!!

thank you doofus 'W'   June 23rd, 2009 3:17 pm ET

for bringing the U.S. to its knees

I hope you are enjoying your retirement, kind of like those ENTIRE summers you used to take off during your pres. term

Barcode3006   June 23rd, 2009 3:08 pm ET

Isn't this the same Putz that told us that if we didn't pass the first Stimulus Package that unemployment would rise above 8%.? Well... they passed it and now he is telling us the we are going to see double digits. This should be proof positive that he DOES NOT KNOW WHAT HE IS DOING and that he just wasted $787,000,000,000.00

tedious898   June 23rd, 2009 3:05 pm ET

Just stay the course Mr. President. Undoubtedly (even on this issue) you will see naysayers – dummies really that think that this should have been turned around within 24 hrs after the inauggeration.

Again....Scott, Phoenix, TMC, Miss Mike, please attempt to study something more than field and stream to try and get a greater understanding about the problems we currently face. Its called macro-economics . The pre-requisite will be something like a H.S. degree

Shirley In California Now On The Fence Re Obama   June 23rd, 2009 3:05 pm ET

Well, that's encouraging. Higher unemployment? At least he is discussing the REAL issues which confront us now. I don't care about his popularity or his custard outings.

ENOUGH IS ENOUGH   June 23rd, 2009 3:02 pm ET

The republicans called you on this one, and any independent with a brain knew they were right. Your stimulus plan did not create jobs, instead it was a load of fluff.

Good thing you are reigning back the credit card companies, although you may be years too late because 10%+ of Americans are going to be using them to survive for a long time.

Mich   June 23rd, 2009 3:02 pm ET

that's because they don't know what they are doing.

Stephanie   June 23rd, 2009 3:01 pm ET

What happened to the millions and millions of jobs he was going to create or "save"?

Right Leaning Independent   June 23rd, 2009 3:01 pm ET

That is impossible! You said not long ago that you and your team of economists believed it would hit 8.4% and that was what your budget was predicated on. Go ahead and tell the public what that means to the deficit that is coming...

Pat   June 23rd, 2009 2:57 pm ET

Didn't you say this wouldn't happen if you passed the stimulus? Must have put that promise on the shelf right next to transparency. Now we're worse off than we were before. Be scared when a stranger comes knocking and he says "I'm from the government and I'm hear to help".

TCM   June 23rd, 2009 2:57 pm ET

A truth! Finally, A truth was spoken by Obama...no, wait a minute....
false alarm, he read it off the teleprompter.

Too True For You   June 23rd, 2009 2:51 pm ET

For the republican attack apologists sure to chime in, don't forget, your guy gave away hundreds of billions in a BAIL OUT. Obama spent hundreds of billions on STIMULUS. See how the words are different? Lot's of different letters and stuff? See that? That's because the words are different. They represent two different approaches.

So, just don't forget when you attack that republicans gave away billions to cover the butts of their big business cronies while the democrats allocated it to helping the middle class. And don't even trot out that garbage about "democrats controlled congress" then. First, it was a republican administraiton that came up with amd ramrodded the proposal, and second, the democrats only held majority by the grace of one dubious independent. Republicans had plenty of firepower to stop the big giveaway, and just stood on the sidelines (again) caterwauling.

Independent in Virginia   June 23rd, 2009 2:49 pm ET

Obama's chief economic advisers had forecast the stimulus package would help hold unemployment below 8 percent. It included tax cuts and spending on infrastructure projects that the president pledged would save or create 3.5 million jobs.

8 percent to 10 percent?! Now that's change we can believe in!

Steve IN (CA)   June 23rd, 2009 2:46 pm ET

So what you are saying is the Stimulus Bill is not working as planned?
or
As Joe Biden said: "we guessed wrong"

Liberal Interpretation = Blame Bush

GOP = 21st century dodo   June 23rd, 2009 2:43 pm ET

We've been hearing this fact since around October of last year. People like John Boehner, though, would like to have us believe this is a complete surprise, and he has no qualms about using this to score cheap political points (If you don't believe me just read the press releases he puts out whenever new job numbers come out).

The lonely Libertarian of Liverpool NY   June 23rd, 2009 2:34 pm ET

unemployment will exceed 10 percent this month!

Carlena Smithey   June 23rd, 2009 2:32 pm ET

O'bomber knows absolutely well unemployment will continue to rise. He should be among the unemployed ASAP. "It's Bush's fault, it's Bush's fault!!""

Rabbi Mamun   June 23rd, 2009 2:32 pm ET

Obama is right for unemployment may exceed 10 percent but it takes some time to recover it. I am confident it will go away gradually under his administration.

Cindy PA   June 23rd, 2009 2:31 pm ET

Someone needs to tell the teleprompter president we need a second stimulus package for the working Middle Class American. All his plans are doing is leading too 20+ percent unemployment, 20+ percent interest rates on mortgages, 0 percent on earnings.

Let’s review,
higher unemployment
higher taxes
higher home foreclosure rate
auto industry in the tank
stock market in the tank
tax evading Democratic Party
tax evading Obama administration
the “Porkulus” Spending bill
out of control budget

Depressing being an American under the Obama administration.

kk   June 23rd, 2009 2:30 pm ET

Well of course unemployment will reach double digits. You are the cause of it Mr. Prez. You have extended benefits and have given people more money to sit at home on their butts and do nothing but stare at your face on the television, telling the world you are sorry for everything and anything you can apologize for Barack.

Stop being apologetic, start doing something to fix the problems for once.

There are always jobs to be had, it is just that American's don't want to do the jobs that are available...

Lotta Muni   June 23rd, 2009 2:26 pm ET

Setting the stage for another "stimulus" package.

Rick   June 23rd, 2009 2:23 pm ET

hey wait a minute.... he said that if Congress passed his pork-o-licious spending bill this wouldn't happen.....Now the congressional pigs are at the trough and unemployment went up anyway...go figure

carlo   June 23rd, 2009 2:22 pm ET

Didn't everyone know this, or does anyone read economists reports? This has been known since before Obama took office. They have already said that employment is the last thing to fall when a recession starts and the last thing to improve when the recession is over.

What am I thinking? No one knew this. America acts like impetulent children.

Sniffit   June 23rd, 2009 2:22 pm ET

...just as all the experts predicted would happen NO MATTER WHAT WE DID back when the recession hit...

I'm going to go get some popcorn though...should be hilarious to read the socialism/fascism/tax and spend/the apocalypse has arrived ranting from the GOPers on this one.

Just My Opinion in Texas   June 23rd, 2009 2:19 pm ET

I thought the whole point of the so-called "stimulus" package that was rammed down the throat of the American taxpayer was that it was needed to prevent double digit unemployment??

Silly me ... Thinking Obama will be held to ANY sort of standard by the media.

RR   June 23rd, 2009 2:18 pm ET

wasn't the stimulus rushed through so unemployment would top out at 8% or so?

LacrosseMom   June 23rd, 2009 2:18 pm ET

The far-right will have a "hay-day" with this headline! They will, of course, forget about the Crash of 2008, and who was president!

The far-right, will ignore the facts that in 2007, Bush was warned about the impending economic crisis and choose to ignore the warnings!

The far-right will refuse, as usual, to acknowledge that Obama INHERITED an economic disaster, akin to the Great Depression from Bush!

Americans though are not fooled by the GOP's rhetoric, we know, that when a new president took office, facing an Economic Disaster, the GOP obstructed the new president in ALL things!

The Bush Disaster will not be easily solved, but America will return to prosperity! And the GOP will be eating crow!

Matthew   June 23rd, 2009 2:18 pm ET

Isn't the invisible hand of the free market going to save us?

Tim   June 23rd, 2009 2:15 pm ET

That's what he has been saying all along if you just listen. He said 8 percent would be the tops when he was pushing his stimulus bill. Anyone with an ounce of common sense realizes that 8 rounds up to 10, which is double digits.

Same as his pledge to create jobs. First it was he would create 3 million jobs in his first year in office, then it was save or create 3 million jobs in his first year in office. Now it is save or create 600,000 jobs by the end of the year. Next it will be at least we didn't loose 3 million jobs by the end of the first year in office. 3 million is 3 million, don't you suggest otherwise.

Hugo   June 23rd, 2009 2:15 pm ET

Better watch out Obama, America is figuring out that you and the rest of the left wing Democratic kooks of our Government have been playing politics with our lives. Double digit unemployment coupled with runaway inflation, coming soon to a town near you! You think the Iran protests were bad, just wait till Americans can't put food on their tables and all of their life savings are gone! Oh, that would only be the ones not employed by Government and paid for with the working class tax dollars!

Kevin from Co   June 23rd, 2009 2:12 pm ET

Obama said if the first stimulus plan was passed it would keep unemployment under 8% and save 250,000 jobs. Anyone else get the feeling that his on the job training as president is starting to show?

S M R   June 23rd, 2009 2:09 pm ET

It's so sad that the GOP will blame Obama for the possible double digit unemployment rate.This pertains to the old saying: If you point your finger at someone there is 3 more pointing right back at you. The bad thing is that we may never overcome the depth of the FAILED BUSH ADMINISTRATION.

Greg Pottstown Pa   June 23rd, 2009 2:09 pm ET

The president added, however, that he doesn't yet see the need for a second stimulus package. He said it is still too soon to measure the impact of the $787 billion stimulus plan passed shortly after he entered office.

What happened to all those "shovel ready" jobs? Maybe we can't see the impact of the 787 billion because only 6% was to be spent this year.

When all the conservatives pointed out that he was rushing this through congress and it would not stand a chance of stimulating the economy quickly, we were just haters. Now Obama wants to speed up the spending of this money , liberals support him.
The stimulus has failed because the point was to quickly put more people to work and create some job security so people would start to spend big money. The stimulus has not done that. Wile consumer spending was up from last month it is still far lower than at this time 3 years ago, you know when bush was in office and the dems had not yet taken control of the house.

What hapened Oblamo?   June 23rd, 2009 2:06 pm ET

Whatever happened to those 3,000,000 to 5,000,000 jobs that the President's trillion dollar stimulus plan was supposed to create? The only jobs Oblamo has saved are the union members at GM and that was a political payback

Addicted to Obama   June 23rd, 2009 2:04 pm ET

Thank goodness for the stimulus.

MrEZ   June 23rd, 2009 2:03 pm ET

I have not had a job since November and I am starting to get REALLY impatient. Jobs need to start coming or we need to cut all foreign aid to help ourselves.

Joe in NJ   June 23rd, 2009 2:02 pm ET

But...but...but...you said the stimulus would lower unemployment and save jobs. Surely you weren't mistaken?

MD   June 23rd, 2009 2:01 pm ET

I was listening to the reporter who asked about unemployment in the African American community. Being an African American woman, I share her concernes but the truth is our numbers have always been higher. I'm just not sure what President Obama can personally do to fix this other than what he said during the press conference "To improve unemployment overall thereby improve the numbers in the community."

We have got to try to help ourselves even more now then before. I certainly don't have any answers but I know we could try harder and we should.

Me in Big D   June 23rd, 2009 2:00 pm ET

Gee, this statement after promising unemployment wouldn't go above 8% IF the stimulus bill was passed! Another blatent lie? How many more will he tell?

Billy Ray Valentine, Philadelphia, PA   June 23rd, 2009 1:58 pm ET

Second stimulus package? Didn't he say the first stimulus package was suppose to keep unemployment at 8 percent? (and if we did nothing it would go to 9 percent?). Well, it's now at 9.4 percent and will soon be over 10. Way to go!

TRUTH   June 23rd, 2009 1:57 pm ET

the DEMS will fix what the dead gop broke due to bush / cheney GO DEMS

Franky, Land of Lincoln   June 23rd, 2009 1:56 pm ET

Yep, I called it...am I supposed to feel good about it or no? LOL!!! :)

GuyInVA   June 23rd, 2009 1:54 pm ET

No way. If we enact the stimulus immediately (now, now, now), unemployment will not exceed 8%. That's what I was told. Have we enacted that magic stimulus plan yet?

Obama Victim   June 23rd, 2009 1:53 pm ET

Wow, thanks for the prediction Capt. Obvious!!

Next you'll tell us how many jobs you "saved"... an invented statistic which can't be proven nor will it ever be challenged by the media.

Beatrice Lindsay   June 23rd, 2009 1:52 pm ET

The US needs to add to the unemployment list by firing everyone in the White House - that must be about 30,000 people.

Chad in Iowa   June 23rd, 2009 1:50 pm ET

What? You mean the stimulus package didn't work? Obama said it was needed to create and keep the jobs we had? Yea, change you can believe in. Isn't this change great?

Terry from Texas   June 23rd, 2009 1:50 pm ET

Let us analyze this complex message from the Prez.

1. Unemployment is going to get worse. It is good that he gives us bad news when there is bad news. Most presidents gloss over every problem and pretend that "we are turning the corner."

2. We don't want to spend more money on another stimulus until we discover if the first one is working or not. Conservatives, on the other hand, say "If our solution didn't work (tax cut, overspend, run up the debt, etc.), let's do the same thing again. It will surely work the next time."

3. Managing a national economy is complicated. All of you yahoos who imagine that you know economics because you can fit the phrase "free market" into a sentence need to realize how ignorant you and I are about it.

elliott   June 23rd, 2009 1:47 pm ET

Thanks Obama!! Thanks ACORN!!! Thanks Dems!!!!! Way to go!!!!

Jose'   June 23rd, 2009 1:46 pm ET

But Obama promised unemployment will never exceed double digits on his watch!

The economy would be well on it's way to recovery if he would have stayed out of it.

Better yet if he wouldn't have been in the White House.

No More Incumbents   June 23rd, 2009 1:45 pm ET

However, he is adding government jobs as quickly as he can to combat it.........

David   June 23rd, 2009 1:44 pm ET

We need something that puts white collar Americans to work. The many blue collar jobs talked about around building things won't really help. We need higher incentives for companies to hire more people that makes sense.

We need something like a 50 to 75% reduction in new hire cost that is reduced over time as the economic turnaround numbers improve or companies revenue improves. So new hires are paid for by increased revenues.

Just say NO   June 23rd, 2009 1:43 pm ET

No kidding!! It already has here in California. You mean all that stimulus/spending money didn't stop it? What about all those jobs created, that we don't hear much about anymore? Bottom line, spending billions was the wrong move and did NOTHING for the economy. Recessions cycle through on their own, take a look at history. Obama needs to change his policies to get us out of it sooner versus later.

matt   June 23rd, 2009 1:42 pm ET

There is no need for a second stimulus because the first isn't working. As Sniffit said on a post to a different article, to pass another Spendulus package would be a test of Einstein's theory of Insanity.

Bingo   June 23rd, 2009 1:42 pm ET

Funny, I thought the "hurry up and sign it without reading it" stimulous bill had to be passed immediately to prevent unemployment from reaching double digits. Anything else he's wrong on? Like maybe the idea that the American taxpayers want to have increased taxes for a taxpayer fund national health care plan?

S Callahan   June 23rd, 2009 1:40 pm ET

AHh..truth be told....this is no surprise...reality it is...though I think you may have underestimate the %...go a little higher...
Until this nation turns back to God we cannot recieve the blessings he has for us. It's not fear that should be instilled but reverence for our God.

Fair is Fair   June 23rd, 2009 1:38 pm ET

What happened to the dire prediction of 9% if we didn't pass porkulus? Well, they did pass porkulus and now he's saying 10% or more? I just cannot bring myself to trust this guy.

Dutch/Bad Newz, VA   June 23rd, 2009 1:35 pm ET

Supposedly the second phase of the stimulus is in effect. When this quarter is over, we may begin to see some tangible progress. As far as jobs go, I say increase taxes on the employers sending American jobs overseas. I use to work for a telesales company selling vacation packages. Now, all those jobs belong to people in India.

The Original No Incumbents 2010   June 23rd, 2009 1:33 pm ET

Is that including all the jobs the President has created and/or saved?
LOL

the gift of Bush keeps giving and giving   June 23rd, 2009 1:31 pm ET

Obama has quite a task to reverse the Bush mistake

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