"BY DAVID ZEILER, Associate Editor, Money Morning
It may not be long before U.S. President Barack Obama joins the swollen ranks of America's unemployed.
A government report released Friday showed no job growth in August.
President Obama is scheduled to address a joint session of Congress Thursday night with his latest proposals on how to reduce the nation's stubborn 9.1% unemployment rate.
He faces numerous obstacles, including a glum economic outlook that has held employers back from hiring, public dissatisfaction with how he has handled the economy, and an uncooperative mood among congressional Republicans who have spoken openly of making him a one-term president.
At this point everyone in Washington realizes that high unemployment is probably Obama's greatest obstacle to re-election in 2012."
It may not be long before U.S. President Barack Obama joins the swollen ranks of America's unemployed.
A government report released Friday showed no job growth in August.
President Obama is scheduled to address a joint session of Congress Thursday night with his latest proposals on how to reduce the nation's stubborn 9.1% unemployment rate.
He faces numerous obstacles, including a glum economic outlook that has held employers back from hiring, public dissatisfaction with how he has handled the economy, and an uncooperative mood among congressional Republicans who have spoken openly of making him a one-term president.
At this point everyone in Washington realizes that high unemployment is probably Obama's greatest obstacle to re-election in 2012."
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