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Jack Welch On Obama's Inauguration: President 'Comfortable With High Unemployment'

Jack Welch's Thoughts On Obama's Inauguration Revealed
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FRANKFURT/MAIN, Germany: Former General Electric chairman Jack Welch gestures as he speaks on 04 November 2005 during the 'World Business Forum' in Frankfurt/M. The World Business Forum is a symposium featuring eminent leaders and thinkers speaking on topics of the utmost importance to the business community. AFP PHOTO DDP/THOMAS LOHNES GERMANY OUT (Photo credit should read THOMAS LOHNES/AFP/Getty Images)

He’s at it again. Jack Welch, the ex-General Electric CEO who gained notoriety last year for a tweet accusing President Obama’s campaign of cooking the jobs numbers, shared his thoughts on Obama’s second inauguration via Twitter Monday morning:

The U.S. unemployment rate is the same as it was when Obama first took office -- 7.8 percent, according to the Associated Press. But in the intervening years, the unemployment rate has shot up to as high as 10 percent as the nation dealt with the aftermath of the financial crisis. Though Obama didn’t directly address unemployment during his speech, he did touch on the jobs crisis and the plight of middle-class workers as well as the nation’s high deficit.

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Before You Go

Economic Conspiracy Theorists
Jack Welch(01 of08)
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Jack Welch, former CEO of General Electric, tweeted on Friday that President Obama's team must have cooked the September jobs numbers in order to help his reelection chances. But these claims are baseless: The Bureau of Labor Statistics is an independent agency that conducts scientific random surveys. (credit:Getty Images)
Rush Limbaugh On Jobs Report(02 of08)
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Long before Jack Welch accused the Bureau of Labor Statistics of cooking its books to help President Obama on Oct. 5, conservative talk show host Rush Limbaugh claimed in February that the Bureau of Labor Statistics' seasonal adjustment of the jobs numbers amounted to cooking the books to help President Obama. He said that "the raw number" from December to January meant "we lost two million jobs." But economists agree that seasonal adjustment is critical for month-to-month measurements, since there are seasonal factors that add noise to the data otherwise. (Hat tip: Business Insider.) (credit:AP)
Donald Trump(03 of08)
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Real estate mogul Donald Trump told CNBC in September that the Federal Reserve is "creating phony numbers and they're doing it through stimulus." The Fed has bought securities in its three rounds of quantitative easing, which many economists argued has had a real effect on the economy. (credit:AP)
Karl Rove(04 of08)
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Republican political strategist Karl Rove and Fox News host Bill O'Reilly said in December 2008 that journalists exaggerated the economic crisis then so that anything under President Obama would be an improvement. But the economy really was in a deep recession at the time. (credit:AP)
Erin Burnett ON Fed Stimulus(05 of08)
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CNN anchor Erin Burnett said on her show "Erin Burnett OutFront" on Aug. 31 that Federal Reserve Chairman Ben Bernanke may embark on another round of quantitative easing, a type of monetary stimulus, in order to help Obama get reelected and keep his own job. But the Federal Open Market Committee (FOMC) is independent and makes its monetary policy decisions based on how the economy is doing. Also, Bernanke is a registered Republican and was appointed by George W. Bush. (credit:Getty Images)
Rush Limbaugh On Financial Crisis(06 of08)
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Conservative talk show host Rush Limbaugh claimed in December 2008 that President Obama helped cause the financial crisis so that he could gain power. (Hat tip: Business Insider.) (credit:AP)
Ron Paul(07 of08)
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Rep. Ron Paul (R-Tex.), who believes America should abolish the Federal Reserve and go back to the gold standard, said in 2010 that the New York Fed might not have any gold in its vaults, according to The Motley Fool. Actually, it does. (credit:AP)
Erin Burnett On Food And Gas Prices(08 of08)
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CNN anchor Erin Burnett claimed on her show "Erin Burnett OutFront" in September that the Federal Reserve's stimulus measures have caused food and gas prices to rise. But there has been no correlation between the two. (credit:AP)
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