After 29 months of the most left-wing presidency in US history, the American superpower is heading towards the economic abyss
By Nile Gardiner World Last updated: June 3rd, 2011
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I imagine there are some very worried figures in the White House today, including the president himself. Today’s job figures are extremely bad news for the Obama administration, and as I noted in my last post, an electoral disaster for Barack Obama in November 2012 is now looking like a distinct possibility. According to the Bureau of Labor Statistics, unemployment has risen again to 9.1 percent, with private employers adding a mere 54,000 jobs in May. That’s up from 9 percent in April, and 8.8 percent in March.

The White House’s chief economist Austan Goolsbee has described the figures as a mere “bump in the road.â€