March 7. 2009

Jobless rate bolts to 8.1%, 651K jobs lost

Friday, March 6, 2009 - The nation's unemployment rate soared to 8.1 percent last month, the highest in 26 years, as employers eliminated another 651,000 jobs, the Labor Department reported Friday morning.

http://washingtontimes.com

Analysis: Obama recovery plans sowing some unease

WASHINGTON (AP) — President Barack Obama offered his domestic-policy proposals as a "break from a troubled past." But the economic outlook now is more troubled than it was even in January, despite Obama's bold rhetoric and commitment of more trillions of dollars.

And while his personal popularity remains high, some economists and lawmakers are beginning to question whether Obama's agenda of increased government activism is helping, or hurting, by sowing uncertainty among businesses, investors and consumers that could prolong the recession.

Although the administration likes to say it "inherited" the recession and trillion-dollar deficits, the economic wreckage has worsened on Obama's still-young watch.

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