85,000 More Jobs Whacked in December

In February Obama pledged the stimulus would create 3.5 million jobs by Dec 2010. Considering that by his own promise we would need to create 6.3 million jobs this year to make that a true statement, be assured that we were lied to big time yet again.

U.S. employers sliced 85,000 jobs in December, the Labor Department said Friday, a stall in the monthly progress of the jobs data that had given some economists hope of a recovering labor market.

The Labor Department’s report was considerably worse than expectations, with economists originally forecasting a loss of 8,000 jobs for the month.

The unemployment rate remained steady at 10.0%.