"Unemployment in America"

WASHINGTON - Republican National Committee (RNC) Chairman Michael Steele released the following statement today:

“Today, the White House confirmed that the Democrat economic stimulus bill is simply not creating the jobs President Obama promised. Simply put, the White House spin doesn’t square with reality. Since President Obama signed the so-called ‘stimulus’ package, 1.5 million Americans have lost their jobs making the unemployment rate soar to a 26 year high. Families today are struggling to pay their bills, make their mortgage payments, and send their kids to college. Republicans want to work with the president to get our economy back on track, but the president seems intent on promoting and adopting some of the most liberal and reckless government intervention economic policies we have ever seen.”

WHAT OTHERS ARE SAYING ABOUT JOBS

GENERAL MOTORS: The Government's Ownership Stake in GM Came Only After Its Initial $19 Billion Bailout Failed to Keep the Company Out of Bankruptcy. "The plan, laid out in an SEC filing, would give the government a 72.5 percent stake in a new GM, but the administration said it could cost taxpayers another $30 billion, reports CBS News correspondent Anthony Mason. Washington has already invested more than $19 billion to keep GM's motor running. But people familiar with GM's plans said the automaker would still file for bankruptcy protection on Monday." ("Report: GM Set For June 1 Bankruptcy," CBS News, 5/28/09)

According to a USA Today Review, The Federal Stimulus Money Has Yet to Reach States Where Unemployment Has Hit Hardest. "Nationwide, federal agencies have awarded nearly $4 billion in contracts to help jump-start the economy since President Obama signed the massive stimulus package in February. But, with few exceptions, that money has not reached states where the unemployment rate is highest, according to a USA TODAY review of contracts disclosed through the Federal Procurement Data System." (Brad Heath, "Stimulus Projects Bypass Hard-Hit States," USA Today, 5/28/09)