George Bush cannot leave office soon enough, but the problems caused by his disastrous Administration will be felt for some time to come. After eight years of a radical conservative agenda, the economy is in the tank thanks to the unadulterated greed that he helped foster. Due to that, we are seeing some of the worst unemployment numbers since the beginning of Clinton's term when he started to fix Poppa Bush's mess.
From TPM:
The jobless rate zoomed to 6.5 percent in October from 6.1 percent in September, matching the rate in March 1994. Employers have cut jobs each month this year.
Unemployment has now surpassed the high seen after the last recession in 2001. The jobless rate peaked at 6.3 percent in June 2003.
Employers got rid of 240,000 jobs in October, marking the 10th straight month of payroll reductions.
Job losses in August and September turned out to be much deeper. Employers cut 127,000 positions in August, compared with 73,000 previously reported. A whopping 284,000 jobs were axed last month, compared with the 159,000 jobs first reported.
So far this year, a staggering 1.2 million jobs have disappeared.
While many Republicans have believed that the fundamentals of the economy are still strong, thankfully the majority of America saw otherwise. In two and half months we will have a President that can and most importantly wants to address the problems in our economic system. Nevertheless, it seems that things are going to get worse before they get better.
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