October’s High Unemployment Rate the Latest Painful Evidence of Chandler’s Failed Economic Policies
Despite Economic Gloom, Will Kentucky Dem Continue to Make More Excuses for More Terrible News?
Washington — Ben Chandler can add another indicator to the long list of his failed economic policies for the month of October – persistently high unemployment. Not only was October a month plagued with rising everyday prices and extreme market volatility, it also saw the national unemployment rate stay dismally high at 9.0 percent.
“Today’s news that an unacceptably high number of Americans are still unemployed serves as a devastating reminder that Ben Chandler’s job-crushing policies have created more problems and no solutions for struggling Kentuckians,” said NRCC Communications Director Paul Lindsay. “Even as the legacy of Chandler’s failed stimulus bill continues and taxpayers pay the cost of his trillion dollar boondoggle, he continues to support President Obama’s flawed job-killing policies. As Chandler continues to spend taxpayer dollars with nothing to show for it, Kentucky’s middle-class families are asking: ‘Where are the jobs’?”
In October the national unemployment rate remained dangerously high at 9.0 percent. (U.S. Bureau of Labor Statistics, Accessed 11/4/11)
Due to economic stagnation, the Federal Reserve was forced to revise its growth forecast to mirror the job-crushing environment that Washington Democrats have created:
“The Fed cut its forecast for economic growth next year to a range of 2.5% to 2.9% from 3.3% to 3.7% in June. It also said unemployment, now 9.1%, would still be about 8% by the end of 2013, vs. its previous projection of 7% to 7.5%.”
(Paul Davidson, “Fed’s outlook for the economy is revised lower,” USA Today, 11/2/2011)With October unemployment at 9.0 percent, Ben Chandler is losing the confidence of his constituents as he repeatedly supports failed policies in Washington that are making the economy worse. Kentucky families are watching Chandler push a political agenda that is ruining the economy now and destroying any chance for generations to rebound in the future.