Thread: Joe "Hair Plugs" Biden: We Can't Recover All Jobs

June 25, 2010 5:52 PM

Biden: We Can't Recover All the Jobs Lost

by Stephanie Condon
345 comments



Vice President Joe Biden gave a stark assessment of the economy today, telling an audience of supporters, "there's no possibility to restore 8 million jobs lost in the Great Recession."

Appearing at a fundraiser with Sen. Russ Feingold (D-Wisc.) in Milwaukee, the vice president remarked that by the time he and President Obama took office in 2008, the gross domestic product had shrunk and hundreds of thousands of jobs had been lost.

"We inherited a godawful mess," he said, adding there was "no way to regenerate $3 trillion that was lost. Not misplaced, lost."

Claims for jobless benefits fell by the largest number in two months last week, but were still high enough to signal weak job growth. Meanwhile, the Senate on Thursday failed to pass an extension of unemployment benefits.

Biden said today the economy is improving and noted that in the past four quarters, there has been 4 percent growth in the economy. Over the last five months, more than 500,000 private sector jobs were created.

"We know that's not enough," the vice president said.

Last week the White House put out a Recovery and Reinvestment Act update claiming that between 2.2 million and 2.8 million jobs were either saved or created because of the stimulus as of March 2010. In signing the Recovery Act into law on Feb 17, 2009, Mr. Obama said the measure "will create or save 3-and-a-half million jobs over the next two years."

http://www.cbsnews.com/8301-503544_162- ... 03544.html

So your answer is to give AMNESTY to 20 - 35 Million ILLEGAL ALIENS

whodafrickenthunkit

Someone needs to tell that to Barack "I ain't Got No Birth Certificate" Obama before he attempts to Give Amnesty to 20 - 35 Million Illegal Aliens

June 27, 2010

Biden admits jobs catastrophe

Rick Moran
2 Comments

Laying the blame for everything on the Bush administration, Vice President Biden told an audience of supporters that the 8 million jobs lost since the recession began are gone forever:

Vice President Joe Biden gave a stark assessment of the economy today, telling an audience of supporters, "there's no possibility to restore 8 million jobs lost in the Great Recession."

Appearing at a fundraiser with Sen. Russ Feingold (D-Wisc.) in Milwaukee, the vice president remarked that by the time he and President Obama took office in 2008, the gross domestic product had shrunk and hundreds of thousands of jobs had been lost.

"We inherited a godawful mess," he said, adding there was "no way to regenerate $3 trillion that was lost. Not misplaced, lost."

Claims for jobless benefits fell by the largest number in two months last week, but were still high enough to signal weak job growth. Meanwhile, the Senate on Thursday failed to pass an extension of unemployment benefits.

Biden said today the economy is improving and noted that in the past four quarters, there has been 4 percent growth in the economy. Over the last five months, more than 500,000 private sector jobs were created.

"We know that's not enough," the vice president said.

The problem isn't that we've lost 8 million jobs. The problem is that the Obama administration has initiated policies that have exacerbated the problem, while failing to unleash the economy so that entrepreneurs will be able to create new jobs to replace the ones that are lost.

The slack in employment can be eliminated only when capital flows freely to those who can make the best use of it - creating the businesses and the wealth that will fill the needs of society and consumers.

But the only growth sector in the economy is government - a sign that they just don't get it in the White House.

http://www.americanthinker.com/blog/201 ... rophe.html

Biden: 'No Possibility' of Restoring Lost Jobs

Monday, 28 Jun 2010 09:28 AM
By: Frank McGuire

Vice President Joe Biden reportedly gave a stark assessment of the economy by warning that "there's no possibility to restore eight million jobs lost in the Great Recession."

Biden said that by the time he and President Obama took office in 2008, the gross domestic product had shrunk and hundreds of thousands of jobs had been lost, CBS.com reported.

"We inherited a god-awful mess," he said at a recent fundraiser with Sen. Russ Feingold, D-Wis., in Milwaukee. Biden said there was "no way to regenerate $3 trillion that was lost. Not misplaced, lost," CBS quoted Biden as saying.

Claims for jobless benefits fell by the largest number in two months, but were still high enough to signal weak job growth. Meanwhile, the Senate failed to pass an extension of unemployment benefits.

Biden said the economy is improving and noted that in the past four quarters, there has been 4 percent growth in the economy. During the last five months, more than 500,000 private sector jobs were created. "We know that's not enough," he said.

Biden did, however, defended the administration when it comes to fiscal restraint in a year when spending is polling higher than usual among voter concerns, swamppolitics.com reported.

Biden said the Obama White House has introduced a proposed budget freeze and pushed for a debt commission that Republicans ultimately rejected, swamppolitics.com reported.

"We are on our way out of this recession," Biden said.

Meanwhile, investors anxiously await Friday’s crucial June jobs data for clues on how the economy may weather recent storms that drove Wall Street's major indexes down for the year.

Non-farm payrolls are forecast to shed 110,000 jobs in June, according to the Labor Department's report. Although much of that drop is due to the government cutting half of its temporary Census workers, another weak reading for private-sector hiring will disappoint investors.

"The truth is that without job creation, we're in for a tougher time, and I mean real job creation, not temporary job creation, not part-time job creation -- real job creation," Kenneth Polcari, a floor trader at the New York Stock Exchange with Icap Corporates, told Reuters.

The unemployment rate is forecast to rise to 9.8 percent in June from May's rate of 9.7 percent, according to economists polled by Reuters.

That isn’t far below the peak jobless rate of 10.2 percent hit last October -- a year after Wall Street's meltdown resulted in one of the worst recessions in decades.

Without solid growth in hiring, the U.S. economy is likely to limp along as most consumers refrain from spending on anything but the bare necessities. Consumer spending accounts for about two-thirds of U.S. economic activity.

http://www.moneynews.com/StreetTalk/Bid ... ode=A2A0-1