High Unemployment

President Obama, today, requested business leaders to help "kickstart" hiring as unemployment reaches its highest level in 26 years (The nation is expected to have lost another 114,000 jobs, with unemployment remaining at 10.2% according to an economists' survey).

"While I believe that government has a critical role in creating the conditions for economic growth, ultimately true economic recovery is only going to come from the private sector," Obama said. "We don't have enough public dollars to fill the hole of private dollars that was created as a consequence of the crisis."

Nearly 16 million Americans are jobless, with more than 25% of them being in that state for more than 6 months and many are doubting the effectiveness of such economic policies as the stimulus plan as this unemployment climbs higher.