U.S. Unemployment Reaches an All-time High at 4.78 Million People and Still Rising in January 2009

Looks like our new president Barack Obama has "stepped into a gigantic pile of cow patties!" regarding the U.S. economy. I personally voted for this remarkable guy and also think "he's the greatest!" because of his intentions to pull the American economy back to a decent level and these rich politicians will hopefully go away. "Good luck Obama!" American citizens are counting on you!

Unfortunately, this 4.78 million reported mid-January 2009 unemployment claims do NOT include the 1.7 million unemployed under an EXTENDED program approved by congress last year of 2008 for (33) thirty three weeks to receive unemployment insurance benefits that is gradually reaching a grand total of nearly 6.5 million Americans, the all-time total for unemployed Americans in recorded history.

Ford Motor company has publicly announced on Thursday January 29, 2009 that it still has expectations of laying off more than 1,200 jobs in 2009. Eastman Kodak is also cutting 3,500 to 4,500 jobs in the near future. Circuit City has already declared bankruptcy because of their competition with Best Buys and Wal-Mart. Black & Decker had also announced lay-offs on this particular day in U.S. history of 2009.

The Associated Press has tallied up this unbeliveable lay-off figure of 130,000 unemployment claims just in the past week of mid-January 2009 alone. Builders in the U.S.A. only sold 482,000 homes bringing this figure to the lowest price since1982 after Americans experienced a mild recession of the late 1970's. Present American laid off construction workers are still searching for employment anywhere they can find, because most of them have worked for "cash under the table" for years.

If your planning on buying a new home, now is the time to buy. News reports that housing prices have dropped as much as 9.3 percent in the past year alone, and will probably drop even lower in the next year. The majority of U.S. real estate companies have decided to sell that their properties for what they paid for them, because of bank foreclosure, and lack of losing their credit credentials.

Barack Obama faces a New problem since the 1930's, but impossible challenge as an American president. If he over comes these economic problems and succeeds in American history, he will most likely go down in history as the modern-day 21 first American elected official president that has changed time in history since the days of Franklin D. Roosevelt during the 1930's depression that also served more than two terms as U.S. president because of his changes in unemployment and economic problems.

Our new president Barack Obama intends to change the American economic problems by introducing his risky $819 million dollar package which has been approved by the Washington house this past Wednesday of January 2009. The dailynews.com and the Associated Press has reported this as, I quote:

President Barack Obama's $819 billion economic stimulus package, approved by the House on Wednesday and now on its way to the Senate, would provide $500 million to the states to upgrade their unemployment insurance systems. The measure also would continue the extended unemployment compensation program, which adds up to 33 weeks of benefits, until the end of the year. Unquote:

God Bless you Obama, I just hope and pray that these drastic changes will restore the American people back to faith in politicians and also restore the American economy back to it's healthy way we have lived upon for centuries.