Why has unemployment gone up under Obama?
Wasnt his stimulus bill supposed to bring it down?
- Meow Meow SanLv 610 years agoFavorite Answer
FIRSTLY: the Stimulus bill was to mitigate job loss. It wasn't meant to help create jobs.
SECONDLY: Unemployment is not solely an American economic thing. American economics rely on global trade and services, as well as how the world's stocks affect business back home.
The unemployment is due to three major things:
1) The Presidents ability to create a series of programs to help restart the country's economy through internal production and foreign trade, while trying to preserve minimal wage levels for employees and giving tax breaks for businesses.
2) The Butterfly Effects of the global market. This domino effect of events happen over a long period of time through various governments. It started happening long before President Obama and President Bush was in office. Even during President Clinton's time when he was able to balance the budget by raising taxes and introducing other middle-class boosting programs, the global economy was already seeing the first few factors of a downfall.
3) The Stock Market: gas is a traded commodity in the stock market and the price of oil is based on how stable oil is being produced around the world. The rise of gas prices, also means the rise of costs back home. Oil isn't just to fuel vehicles. Oil is used in many other chemicals for various products and services. Since this is a fact, as prices of oil rise, so does cost of running a business which also means employers will start to lay off employees.
President Obama came into office at a time when America has been hit hard with these effects. The problem is that the common every day American, especially the usual Y!A haters continue to strike Obama down thinking he is a communist, an Islamic rebel, someone who hates America and don't really look at the real reasons.
It's too bad really. President Obama is trying to do a miracle man's job and less than half of Americans can see that. It's really too damn bad. The lack of education make the every day American stupid and ignorant as demonstrated by some of the few whom have already responded.Source(s): /sigh
- WACOLv 710 years ago
Obama does not make law, congress does. And, the repuglicans in congress want a high unemployment rate so they can blame Obama and get another Bush-like elected president and finish the job of making America a third world nation of savages.Source(s): Mad Magazine.
- Randy FLv 710 years ago
Obama is the reason why there is so much unemployment and it will continue to go up as long as he is there. No responsible individual is going to start a business with the restrictions that he has placed on them as well as situations such as Gibson Guitar his administration has created.
- Anonymous10 years ago
Because the American economy is part of the global economy which means that America and therefore American politicians, such as Obama, aren't the only factors able to influence the American economy and therefore it is impossible for any president to accurately predict the impact of his/her policies/packages.
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- 10 years ago
Ahh gee lets see, 99 weeks of collecting unemployment checks is a pretty good reason! If you could sit on your a$$ for nearly 2 years and get paid for it, wouldnt you?
When I collected back in the mid-70's, it was 16 weeks and a 4 week extension, and you had to actively go out and look for work and provide a list of at least 3 jobs that you applied for, before you got your check! Now they dont even check, they just ask if you sought work and pay you without proof...... thanks to ObamaRama!
- Ms. BeahavenLv 710 years ago
Obama has purposely destroy millins of jobs. He is a pathological liar. The Jobs/Spending bill will do no more than buy off the Unions for support.
- Steel RainLv 710 years ago
Mr. Obamas policies are job killers the uncertainty created by this administration has forced business to stand pat because they can't make a five year business plan to estimate the cost of doing business.
- Anonymous10 years ago
If memory serve me correct I believe Obama stated that it was the last guy's fault.
Even though his term is almost up and he is actively running for reelection.
- Izod 01Lv 610 years ago
B.O. said "this bill will be all paid for. no earmarks" the opposite became true.