January 27th, 2010
09:23 PM ET
8 years ago

Obama: 'umemployment might be double' without bank bailout

Washington (CNN) - President Barack Obama said Wednesday night in his first State of the Union address that were it not for the unpopular bank bailout last year, "unemployment might be double what it is today. More businesses would certainly have closed. More homes would have surely been lost."

soundoff (5 Responses)
  1. Jimmy James

    I notice it's no longer "created 2 million jobs" but now it's "saved" Nobody believed them when they said they created jobs with the stimulus.

    January 27, 2010 09:24 pm at 9:24 pm |
  2. File under "Sarcasm"

    What happened to keeping it under 8%? Now he's a success because it didn't go to 20%? How many jobs saved does that equate to, millions or billions?

    January 27, 2010 09:28 pm at 9:28 pm |
  3. George Ziegler

    Obama continues to show he does not work for middle class america and has no clue

    January 27, 2010 09:37 pm at 9:37 pm |
  4. Mike in Texas

    The President is right. Just like the stimulus. Don't look just as what was created, but was saved too. How many jobs were saved that would have been lost without Federal Money. How high would the foreclosure rates be without Modifications.

    Had these things not have been put in place our country would be even worse off. Our stock market would probably be in low thousands, unemployment near 15%, foreclosures even higher.

    Too many people have tunnel vision and can't look at bigger pictures.

    In extreme times you have to resort to more drastic measures.

    January 27, 2010 09:44 pm at 9:44 pm |
  5. Madness

    Here's a novel idea, how about instead of pouring billions into programs that don't work, you instead stimulate the economy by focusing in assisting the creation of small businesses which will drive new jobs and stimulate the economy? Use the billions you already have from the first stimulus instead of asking for more and driving the US further into debt and devaluing the US dollar making China the leader in the global marketplace? If they would have bought every person in the US a electric car instead of the programs that don't work, it would have created jobs for millions, cost about the same, and would have moved us off foreign oil dependency. Electric stations and infrastructure would have been required making even more jobs. Now that would have been a better plan than what we have now.

    January 27, 2010 09:51 pm at 9:51 pm |