"More people are going to be put to work this summer."
-Vice President Joe Biden, White House briefing, June 17, 2010
The "recovery summer," as the White House termed it, seemed like a good bet for the administration after more than 300,000 new jobs were added between March and May -- admittedly not enough to keep up with the number of people entering the workforce -- but the economy actually retrenched over the course of the summer. By August, private-sector job growth had had fallen by two-thirds, the unemployment rate was still at 9.5 percent, and GDP growth had fallen to just 2.4 percent -- nowhere near fast enough to make up for the crash.
The summer of disappointment quickly became a fall of despair when it was announced that the unemployment rate had increased to 9.8 percent in November -- and voters punished Biden's party accordingly during the midterm elections.
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