Diaz-Balart: Unemployment is America's Worst Nightmare
For Immediate Release:
WASHINGTON, DC-Today Congressman Mario Diaz-Balart (R-FL) made the following statement regarding the nation’s unemployment rate:
“Today’s unemployment announcement is a chilling reminder that our economy is still hurting. Vice-President Biden said on September 24th about the so-called Stimulus bill, “in my wildest dreams I never thought it would work this well.” It is time for Vice-President Biden, the rest of the Obama Administration and Speaker Pelosi to wake up and face the reality that the American people are living a real-life nightmare.
“President Obama promised the American people the stimulus would keep unemployment under 8% and create or save 3.5 million jobs. As reported today unemployment is now at a 26-year high of 10.2% and nearly 3 million Americans have lost their job since the stimulus was enacted. It could not be more obvious that the so-called stimulus was a dismal failure and our economy is still in peril.
“To make matters worse, Democrats continue to play politics in their attempt to ram a massive government takeover of healthcare down the American people’s throats. This deeply flawed bill will bring massive tax increases, more government control, cuts to Medicare and will put our country even further in debt to China and Middle East Oil producing states.
“It is time for Vice-President Biden, the Administration and the Democrats in Congress to wake up to reality and stop playing politics at the expense of the American people,” said Diaz-Balart.
Today the Department of Labor announced that unemployment has reached 10.2%, surpassing the government’s projections and hitting a 26-year high. In October alone, 190,000 jobs were lost, increasing total jobs lost since enactment of the stimulus to 2.8 million. Earlier this year, the Obama Administration promised that unemployment would be capped at 8% with the passage of the stimulus and that 3.5 million jobs would be created. The opposite has happened.