Why should 10% unemployment be the new normal?

I voted for Obama, but I find it disturbing that his approval ratings are so high considering that unemployment is high as well. I know that Obama didn't create the financial crisis, and that change doesn't come overnight, but clean energy jobs are not going to save the economy anytime soon. It looks like a whole generation has been screwed when it comes to decent wages, benefits, and jobs that are plentiful.

Asked By: - 1/26/2011
Best Answer - Chosen by Asker
You get it. Responsibility has gone missing in my generation, and I am very sorry for that. I also voted for Obama, mostly because I was so against the war in Iraq and the pro corporate stance of the previous administration. I did not want to stick you or any of my children with this burden, but it has been done. I did... More
Answered By: sandplant16 - 1/26/2011
Additional Answers (9)
You're right, TWO whole generations have been screwed. Things will have to get much, much worse before there's change for the better.
Answered By: Cougar - 1/26/2011
I asked this question to liberals on this board and was basically told that's how it's going to be and to "get over it." I guess the standards have lowered with Obama in office, however, you know they'll be demanding lower unemployment numbers when a Republican gets in office.
Answered By: Johnny on the Spot - 1/26/2011
It seems that way doesn't it. Who knows, it may be like gasoline. Once it skyrocketed, it didn't come back - maybe a little, but it just goes right up again
Answered By: Radical Extremist - 1/26/2011
The 2008 financial meltdown and massive economic collapse was so catastrophic that it cannot be fixed overnight. Obama stopped further damage to the economy, if he didn't improve it. When he took office 600,000 jobs were being lost each month. Companies were almost bankrupt and unemployment was rising exponentially... More
Answered By: 2011 - 1/26/2011
This is a long, drawn out recession. The UI rate is higher than it would be as there are hundreds of thousands of people on extended benefits, which raises what is called the U3 rate. The U6 rate, or all those seeking work, is estimated at 16%. This type of severe recession, with the housing bubble and financial... More
Answered By: Anna P - 1/26/2011
first. thanks for voting for him at least its not a republican 10% might be what we call the good old days in a few years if we keep going the way we are now. his new regulations and laws will only slow recovery if not stop it careful what you wish for
Answered By: Mike M NUMBER 5 - 1/26/2011
10 % isn't bad at all for a Banana Republic. Which is exactly what we'll be if we don't reign in this out of control spending. Do the words fiscal conservative mean a d**n thing to you? Did you even bother to look into who you thought you were voting for? No probably not, it just felt good didn't it. You wanted to be... More
Answered By: Barney - 1/26/2011
In a few years we'll be wishing for the good ole days of ONLY %10 unemployment. Actually it's already way higher than %10. Both Clinton and Bush monkeyed with unemployment figures to make their economics look better. Bush turned it into near fiction. If we figured unemployment the way we did back in the days of Reagan... More
Answered By: draciron - 1/27/2011
There are a lot of companies that are making buckets of money right now but aren't doing too much in the way of hiring... I think they have more to do with unemployment than anyone.
Answered By: alexander - 1/27/2011
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