US Unemployment Rate Gallops Ahead of Expectations
June 7 2009
The White House says America's employment picture is worse than the Obama administration had anticipated just a few months ago. The somber admission follows the latest jobless report showing the highest unemployment rate the United States has seen in more than 25 years.
Alabama Republican Senator Richard Shelby was asked if the United States is headed towards a form of socialism. Shelby noted that GM is just the latest private corporation to fall under government control since the financial crisis struck last year.
"They [federal officials] intervened last fall in the bank crisis," said Senator Shelby. "No one has ever done it on that scale before. Now the automobile crisis. There is no doubt that we are going to government intervention everywhere, government ownership [that is] unprecedented in this country. It is a slippery slope."
June 7 2009
The White House says America's employment picture is worse than the Obama administration had anticipated just a few months ago. The somber admission follows the latest jobless report showing the highest unemployment rate the United States has seen in more than 25 years.
Alabama Republican Senator Richard Shelby was asked if the United States is headed towards a form of socialism. Shelby noted that GM is just the latest private corporation to fall under government control since the financial crisis struck last year.
"They [federal officials] intervened last fall in the bank crisis," said Senator Shelby. "No one has ever done it on that scale before. Now the automobile crisis. There is no doubt that we are going to government intervention everywhere, government ownership [that is] unprecedented in this country. It is a slippery slope."
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