Jobless Rate Stuns Obama White House

The economic stimulus plan pushed by Barack Obama and Congressional Democrats was supposed to prevent more hemorrhaging of jobs. Yet the job losses continued in May, stunning White House officials who were caught off-guard.

According to Voice of America:

The White House says America's employment picture is worse than the Obama administration had anticipated just a few months ago. The somber admission follows the latest jobless report showing the highest unemployment rate the United States has seen in more than 25 years.

And don't get too comfortable with the mere loss of 450,000 jobs. As the summer months roll on, expect the economy to be hit with the avalanche of layoffs following plant closures by GM and Chrysler, and the industries that depend on them.