The Obama administration to recognize the extent of the United States economic grim underestimated

United States Vice President Biden in the United States, playout Broadcasting Corporation (ABC), "this week" in recognition of the shows, the Obama administration on the United States economy, the degree of difficulty had been underestimated. Analysts believe that Biden out this expression of the main reasons is that the Obama administration in addressing the employment this core issue failed to honour their commitments.

Early this year, the Obama administration launched the economic stimulus plan made the unemployment rate will not exceed 8% of the commitment. While the United States Department of labor, the latest data show that the United States in June rose to 9.5% unemployment rate. In other words, the Obama administration has already gone back on his word. Biden acknowledged that 9.5% unemployment rate is too high.

Currently, the unemployment rate continues to rise in the United States Government has become the number one economic challenges. Labor Department figures show that as of June 2009, the United States unemployment totals 1470 million to 1948. Since the Obama administration economic stimulus plan was implemented, the United States lost jobs has reached 200 000.

The Obama administration also face attacks from the opposition. Senate Republican Leader Mitch McConnell · 5 in a statement said: "I'm on economic stimulus plan will produce any good effect is very suspect. I think that the economy would have self-recovery, and stimulating projects. "House GOP leader John · bona criticism that economic stimulus plan and create employment, but in fact it is more of the big government bureaucracy spend on the project. The Obama administration economic policies failed to deliver on promises of higher proportion in the next Congressional midterm elections, the Democratic Party pressures will be bigger.

In addition, the United States public discontent will rise with the increase in unemployment rate. 4 July, in the United States celebrate independence day around Washington street demonstrations against the Government appears, protesters attack "against big government" and "the Obama administration increased unemployment" and other slogans. Despite Obama's support rate is still high, but compared with the beginning of the year, its popularity has declined.

Biden said, 1 month launch of economic stimulus plans are based on the prevailing economic data, is the Bush Administration's legacy of economic chaos. He insisted that, at the launch of economic stimulus plan is a wise choice. Biden said the project expenditure is expected to be completed within a year and a half, the major projects to the month of September this year will take effect. With the economic stimulus plan 7870 billion accelerated implementation, in the long term will create more jobs. However, Biden said, the current discussion on whether to launch a second round of economic stimulus plan was premature.