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.
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...
What happened to the millions and millions of jobs he was going to create or "save"?
that's because they don't know what they are doing.
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.
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.
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
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
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
Double digit unemployment? Change you can believe in!!!!!!!!!!
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.
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.
I thought he was bragging about a "turnaround" last month... LOL
He is a reactionary ... no leadership here.
WAKE UP AMERICA!
@Dutch/Bad Newz, VA "...Now, all those jobs belong to people in India."
Wait 'til you see what the government can do with healthcare.
That's just wonderful. Are we going to stop spending the stimulus money then? Clearly, it hasn't done any good.
Like Bush, Obama minimizes all the bad news.
When do the fireside chats start?
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!!
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!
@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.
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!
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.
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.
More backpedaling and double-speak from this man. Thanks, America, for electing this loser.
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.