Can someone explain this to me? In pushing to get his $787 billion stimulus package passed in Congress, President Obama's economic team said that without the federal spending jolt, the unemployment rate would hit 8.8 percent by the last fiscal quarter of 2010. With the package, his advisers argued, the unemployment rate would reach only 7 percent. Republicans Blast Obama Administration as Jobless Rate Hits 9.4 Percent - Political News - FOXNews.com Now, can you explain this? Obama Says U.S. Jobless Rate to Reach 10% This Year (Update1) - Bloomberg.com President Barack Obama said the U.S. unemployment rate will reach 10 percent this year, even as the economy begins to emerge from the recession.