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On October 21, 2009, Dave Camp, the GOP Ranking Member on the House Ways and Means Committee, issued a disturbing report on the status of new job creation since President Obama’s $787 billion stimulus plan went into effect in February. According to the report, the nation has actually lost nearly as many jobs as the plan was projected to create. Instead of adding 3.5 million new jobs, 2.7 million jobs have been lost. California, which was supposed to gain 396,000 jobs, has lost 336,400 jobs. Arizona, which was supposed to gain 70,000, has lost 77,300. Michigan, which was supposed to gain 109,000, has lost 137,300. A total of 49 states and the District of Columbia have all reported net job losses.

Based on how economists project the economy and on how things are taking direction in today’s time, it is imperative that the rise in unemployment will extend up to next year.US Treasury Secretary Timothy Geither on his interview in August 2, 2009 via ABC’s This Week Program, addressed this issue saying unemployment benefits might be extended.