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  • Video: Harry Reid Calls 10% Unemployment "Progress"

    Back when the unemployment rate was only 9.8% White House economic adviser Jared Bernstein told the Associated Press that the early data on the effect of President Barack Obama’s “quite positive.” Now that the unemployment rate is 10%, Senate Majority Leader Harry Reid (D-NV) also sees “great progress.” Watch:

    When Reid first voted for Obama’s failed stimulus, the White House promised their plan would create 3.5 million jobs and unemployment would never rise above 8%. Since he was sworn into office, the U.S. economy has lost, not gained, 3.3 million jobs and unemployment is now 10%. There is nothing positive about that.

    Posted in Economics [slideshow_deploy]

    13 Responses to Video: Harry Reid Calls 10% Unemployment "Progress"

    1. Earl, QUEENS, NY says:

      Although we know that Jimmy Carter caused the deep recession of the early 1980s, can you imagine the criticism Ronald Reagan and the GOP would’ve gotten from the Democraps and their allies in the lame-stream media if they said something like that? I.e., if they said there was nothing else they could do, and just blamed the recession on Carter? Of course, Reagan DID something about it which the Democrats WILL NOT do – he cut taxes, and we had prosperity and low unemployment for the rest of the 1980s. Well, there is something we can do. Let’s get to the polls on 11/6/2012 and vote for any Republican who runs against BHO. However, to those who still worship BHO, make sure you get to the polls on your designated voting day – Wednesday, 11/7/2012.

    2. Roger S., Ma. says:

      What would happen in a market if over a longer period supply and demand were exactly equal? Would there still be a "market"?

      However one chooses to answer, it becomes obvious that markets thrive on inequalities. One could even argue that these are requirements for evolving a more efficient utility for their inputs.

      Viewed from this perch, the attempted "correction" of the financial meltdown (which was itself the market's attempt to correct unsound allocations of economic resources) must be seen as wishful thinking.

      Keynesian economics was never sound in the sense here applied, if in any, because inflationary bubbles being caused by government cannot be re-inflated once they have burst. This is due to the market distortions which the government's failed policies introduced in the first place. The economy's attempts to adapt to those will have ensured that, as measured from the time inflation was begun until the time of attempted "repair", the entity to which re-inflating measures might be applied is no longer the same one.

      This practically dictates an economy's reaction in unforeseeable ways to "correct the correction(s)". It is a recipe for economic chaos; for a practical certainty that such simplistic measures as "bail-outs" or "stimuli" will only serve to further distort (and likely delay) any more "healthy" adaptive processes. Kind of what we're being shown, isn't it?!

      "Harry the Omniscient" and his attempts to put any kind of favorable spin on the outcome are simply ludicrous!

      Keynes has been dead for over 60 years. Time for (at least some of) his "theories" to join him. Politicians need to learn that their grand-standing attempts to appear to "do good" typically only make things worse. This isn't the first time we've been served this lesson. Will they never learn?

    3. Bobbie Jay says:


      The government doesn't want peace!! The government slaps America in the face!! Playing dumb to their own words!! Many Americans are yet beholden by the man and his government.

      Obama has his military ready…

    4. Bobbie Jay says:

      God Bless America and her people, the AMERICANS!

    5. Jill Hetherington says:

      I think pretty soon Americans will take to the streets like they are doing in Iran. The Democraps are destroying our country and we the people are still so polite. I hope we make a massive change in Congress with the next election. I hope this will be the end of that party.

    6. Jeanne Stotler, Wood says:

      The drop in unemployment is due to holiday hiring, it happens every year. My grandson has been trying for a year to get a job, even part time with no luck, he's a college student and needs work desperately, so does his brother. If all those who were out of work and not collecting unemployment were counted the nos. would be much higher, it's called Obama math, just like the jobs created.

    7. Tim Az says:

      To understand that 10% unemployment is progress to liberals. Requires one to accept the reality of the situation that Americans are in. Ten percent unemployment is progress when your intentions are to collapse the free market system and replace it with socialism. If we can't be adults and accept this harsh reality. Then we deserve the liberals green hell known as socialism. More green hell anyone?

    8. roger, indiana says:

      in total agreement with Jill Hetherington: people are ready for civil insurrection. The political leaders now view themselves as royalty, and we the "serfs" views are not worthy of consideration. They absolutely disgust me.

    9. Freedom of Speech, T says:

      Tell the 10% (really 17%) that progress is being made.

      Tell that to people who are now living in cars while we are fiddling away with health care. By the way, how are the "10%" unemployed supposed to pay for their premiums?

      I guess they can go to jail.

    10. Greg, Vail AZ says:

      Shouldn't we be taking in to consideration the annual jump in the employed due to hiring for the Christmas season? Wouldn't it be natural to think that this hiring would bring down the unemployment numbers? What happens when all those seasonable employees are laid off in mid to late January?

    11. Kenneth E. MacAliste says:

      I just wonder, will doddering ol' Dingy Harry Reid repeat this statement once he joins the ranks of the millions who are unemployed about eleven months from now?

    12. philip says:


    13. dave, dayton says:

      I agree with Tim and Jill, sooner or later ( it has happened peacefully already) the American people will take to the streets in growing numbers.

      The working class( uuh that sounds socialist) will finally get feed up with the Demo handouts to lazy bums and baby producing single mothers. I've been working since I was 18, including 20 years in the Army, ( I'm 67) I am tired of seeing people in the grocery store using food stamps carry their items out to a Caddie. Get rid of the waste and fraud and you will save billions.

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