Job losses turn up heat on Obama

Pressure mounting from all sides as economic drag continues

Stop Socialism Now:

WASHINGTON (MarketWatch) — A little more than a week ago, President Barack Obama said it was “pretty clear” that unemployment would exceed 10%. Unfortunately for him, he’s getting closer to being right.

Thursday’s worse-than-expected jobs report turned up the heat on the still-popular president to put more Americans back to work. Unemployment hit a 26-year high of 9.5% in June, the Labor Department reported, and nonfarm payrolls shrank by 467,000, much higher than anticipated.

The numbers had Republicans salivating, left Democrats disappointed, and fueled the debate about whether a second stimulus — or something else — is needed to help.

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