The U.S. unemployment rate hit 8.1 percent in February, a 25-year peak. The nation has lost 4.4 million jobs since the recession began in late 2007.
The job cuts began early last year, as the housing and construction industries slowed down. The collapse of the financial industry in the fall battered white-collar workers. Soon, layoffs spread across industries and income levels.
More than 4 million jobs have disappeared since the recession began in December 2007. The rate of the job losses is only accelerating. Obama says the country can't afford to take on one big problem at a time. Politically, his strongest time to attack them all may be now. In one of the biggest examples, he has set a goal of signing a bill this year that would fix the health care system, which leaves millions uninsured.
Obama says he is not wedded to a plan on how to fix the problem. But one proposal he has endorsed, giving people the option of buying medical coverage through a government plan, is drawing opposition from Republicans. Lets see what Barack Obama comes up with in these difficult times.
The job cuts began early last year, as the housing and construction industries slowed down. The collapse of the financial industry in the fall battered white-collar workers. Soon, layoffs spread across industries and income levels.
More than 4 million jobs have disappeared since the recession began in December 2007. The rate of the job losses is only accelerating. Obama says the country can't afford to take on one big problem at a time. Politically, his strongest time to attack them all may be now. In one of the biggest examples, he has set a goal of signing a bill this year that would fix the health care system, which leaves millions uninsured.
Obama says he is not wedded to a plan on how to fix the problem. But one proposal he has endorsed, giving people the option of buying medical coverage through a government plan, is drawing opposition from Republicans. Lets see what Barack Obama comes up with in these difficult times.
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