Americans lucky enough to still have a job are noticing something unpleasant in their paychecks: They're making less money.

Employers cut 467,000 jobs in June, far more than expected, and the jobless rate hit a 26-year high of 9.5 percent. Just as worrisome, wages shrank to their lowest in nearly a year.

The bleak news Thursday from the Labor Department underscored one of the big threats to an economic turnaround: Rising joblessness and falling wages for those still working could send Americans back into spending hibernation and short-circuit any recovery.

President Barack Obama acknowledged concern. "What we're still seeing is too many jobs lost, too many families who are worried about whether they're going to be next in terms of job loss, or whether they can find another," he told The Associated Press.

http://news.yahoo.com/s/ap/us_economy
THE EMPLOYMENT SITUATION: JUNE 2009
http://www.bls.gov/news.release/empsit.nr0.htm

President Barack Obama acknowledged concern

again!

"nearly 132 million grateful Americans saw their livelihoods saved by their President during the month."

Now that is a real "spin" when we read "467,000" jobs were lost! No wonder we cannot get the straight news.

If that was President Bush it would read

"Bush caused 467,000 Americans to lose their jobs and the other 132 million ungrateful Americans are in fear of him taking away their jobs too."

If only Bush had thought of the phrase "created or saved.". Then when people kept throwing out numbers of how many civilians were killed in Iraq he could respond with the number of Iraqis he created or saved.

Obama keeps saying he’s “created or saved” different numbers of jobs. You could apply that phrase to a number of situations:

- Cheney’s waterboarding terrorists created or saved thousands of Americans.
- I slowed down in the school zone, creating or saving three children
- By not going to McDonalds, I created or saved two cheeseburgers