I've mentioned a few times recently that in January of 2009, the incoming Obama administration projected that if the stimulus bill passed, unemployment would be at about 7.5% in May of 2010. Along with that, they projected that without the stimulus, unemployment would reach a whopping
NINE percent and remain there until the third quarter of 2010 before dropping. In January of 2009, a projected extended period of 9% unemployment prompted the administration and Congress to pass an unprecedented stimulus bill. Unemployment is currently at 9.7%.
