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Drudge Report
Drudge banners: "IOU" and links to this LA Times story on the budget crisis in California. And the U.S. says North Korea does not appear to be readying a missile launch in this Bloomberg story is also highlighed on Drudge. ... READ MORE

Huffington Post
The Huffington Post banners: "Obama's first major military operation underway in Afghanistan" and links to this AP story. Unemployment to hit a 9.6 percent, a 26 year high, according to this AP report, highlighted on the HuffPo. And Jesse Berney ... READ MORE

HotAir
The Obama administration doesn't see the contradiction between calling for free elections in Honduras and staying out of the election in Iran, writes Allahpundit. And veteran White House reporter Helen Thomas went "nuclear" on the White House for controlling the ... READ MORE

DailyKos
Alaska Gov. Sarah Palin (R) wants to president but "she couldn't even get her own campaign's scheduling staff to give her enough time to run," writes Jed Lewison. And South Carolina Gov. Mark Sanford's (R) recent confessions have set off ... READ MORE

Townhall
South Carolina Gov. Mark Sanford's (R) Republican enemies hope he stays in office, writes Matt Lewis. And, drawing on examples from other countries, Carol Platt Liebau writes what ObamaCare "really means." READ MORE

OpenLeft
Advancing the debate over torture is always going to be difficult, writes Daniel de Groot. And Mike Lux takes a look at the fight over a new Pecora commission. READ MORE

RedState
The press is "finally" calling out the Obama administration for controlling the press, writes Paint it Red. And Moe Lane takes a detailed look at the 2010 election and the ages of several Democratic committee chair people. READ MORE

MyDD
Mitt Romney appears to be urging Republicans to stand up to President Obama, writes Charles Lemos. And Lemos also writes that South Carolina Gov. Mark Sanford (R) must think the Associated Press is a "licensed therapist." READ MORE

Powerline
Rep. Robert Wexler (D-Fla.) appeared to open the door to the Obama administration making more demands Israel in the peace process while in the country, writes Paul. And new polling shows that support for Supreme Court nominee Sonia Sotomayor is ... READ MORE

Matthew Yglesias
The entire committee system in Congress "leaves a lot to be desired," writes Matthew Yglesias. And Yglesias also points out a general thought among the punditry right now: Congress is asserting its dominance in setting and controlling the agenda, not ... READ MORE

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December 5, 2008

Obama: Job Loss Shows Need for Stimulus

@ 9:58 am by Walter Alarkon

President-elect Barack Obama responded to Friday's report of more job losses by calling again for an economic stimulus plan.U.S. employers cut 533,000 jobs in November. The unemployment rate rose to 6.7 percent, up from 6.5 percent in October.

Read Obama's full statement below.

"The 533,000 jobs lost last month, the worst job loss in 34 years, is more than a dramatic reflection of the growing economic crisis we face. Each of those lost jobs represents a personal crisis for a family somewhere in America. Our economy has already lost nearly 2 million jobs during this recession, which is why we need an Economic Recovery Plan that will save or create at least 2.5 million more jobs over two years while we act decisively to maintain the flows of credit on which so many American families and American businesses depend.

"There are no quick or easy fixes to this crisis, which has been many years in the making, and it's likely to get worse before it gets better. But now is the time to respond with urgent resolve to put people back to work and get our economy moving again. At the same time, this painful crisis also provides us with an opportunity to transform our economy to improve the lives of ordinary people by rebuilding roads and modernizing schools for our children, investing in clean energy solutions to break our dependence on imported oil, and making an early down payment on the long-term reforms that will grow and strengthen our economy for all Americans for years to come," said President-elect Obama.

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