Sunday, August 9, 2009
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The Whitehouse is enthusiastically taking credit for unemployment falling by 1/10 of a percentage point last month, theoretically bringing the total to 9.4% . But when factoring in the people who have given up on finding a job, or taken part-time work because nothing else is available, the true unemployment number is closer to 16.3% (1 person in 6).
In other words, the "Hope & Change" administration is exchanging high-fives because more people are giving up "hope"...and accepting "change."