Obama’s jobless ‘recovery’ – unemployment at 9.5%
Despite all the happy talk that there are signs that the economy is improving, or at least bottoming out, there is little hope that the unemployment rate will improve anytime soon. Job losses accelerated last month to 467,000, “an unexpectedly large amount.” The unemployment rate rose to 9.5%, the highest level since August 1983. According to the Associated Press, unemployment is actually much worse: If | Read More »
Gallup: Investors Losing Confidence in Economy
From Gallup: The sharp decline in Gallup’s Index of Investor Optimism in June — particularly the plunge in expectations for the economy — suggests that investors may be losing some of their hopes for an immediate improvement in the U.S. economy later this year. This is consistent with the leveling off of consumers’ mood over the past few weeks and the drop in the consumer | Read More »
CNN: 473,000 Lost Jobs=Improvement
George Bush would have killed for coverage like this. Considering the surprising strength of the economy in the wake of the September 11 attacks, he’d be posing for Mount Rushmore if the press had treated him the way they are treating Obama: Job market shows some improvement …Automatic Data Processing, a payroll-processing firm, said private-sector employers cut 473,000 jobs in June, a 2.5% improvement from | Read More »
Socialism checklist: First the banks, then the auto dealerships, healthcare, education, immigration?
Prior to the November elections, Republicans warned impressionable voters about how a vote for The One and his running mate could and would lead to socialism. The voters just laughed and proceeded to vote for them anyway. Nationalizing the Banks Now, a half a year later, the banks that “fail” have been nationalized along with money lending companies like Fannie Mae and Freddie Mac, and | Read More »
‘Stimulus’ Kills Pennsylvania Steel Jobs
Remember how having a bunch of brilliant grown-ups in the White House was going to restore our tattered relations with key allies? And how the ‘stimulus’ bill would create millions of jobs here in the United States? Instead, the bill has sparked a trade war with Canada – one that will get worse if it is not addressed. And while the Obama team can offer | Read More »
“Who are You Going To Believe — Me Or Your Lying Eyes?”
originally published at The Minority Report The President says companies are hiring — who would have laid off — because of stimulus bill President Obama, Vice President Biden and a number of the administration’s top financial advisers did their best Tuesday to convince the American people that the massive government spending designed to stimulate the economy is — well, stimulating the economy. Although the President | Read More »
A Stroll Down Memory Lane
With the federal deficit spiraling out of control, with unemployment approaching 10 percent, and with confidence in the Obama economic plan waning, it might be useful to go back and look at what team Obama promised if the porkulus passed:
Obama Economic Policy Failing
In yet another attempt to spin a failing policy into a success Barack Obama announced that his stimulus plan has ,”saved or created,” 150,000 jobs during a time when the economy LOST 1.5 million jobs. Using an arbitrary number that he created from nothing Obama cannot prove or disprove the saving of any job and when asked this during his announcement he stumbled and stated | Read More »
A probably trite observation on ‘stimulus’ jobs.
It was, nonetheless, an alarming thought to wake up to: even if you accept the concept that the ‘stimulus’ bill that Congress saddled on us is creating jobs – And that’s subject to debate: …we’re shifting any jobs generated away from useful ones, like manufacturing, and towards useless ones, like government. Have a nice morning! Moe Lane Crossposted to Moe Lane.
Obama’s “Saved Or Created Jobs” Does Not Match Reality
The House Republicans have put together some data your local mainstream media outlet probably will shy away from discussing. Today, Barack Obama told the public, “In these last few months, the American Recovery and Reinvestment Act has saved or created nearly 100 — 150,000 jobs”? But that’s just not true. 16,000 jobs have been lost every single day since Barry’s stimulus plan was passed. At | Read More »
White House predicts 3.5% growth by year’s end.
The White House is promising solid economic growth by the end of this year: White House Sees 3.5% Growth by Year-End, Exceeding Forecasts May 11 (Bloomberg) — The Obama administration projected that the U.S. economy will expand at a 3.5 percent annual rate by year-end, a rebound that would be almost twice as strong as private forecasters expect. [snip] As early as the end of | Read More »
MI Morning Update: God Bless America – SEIU Wrapped up in Blago Scandal – MI Unemployment Rate Hits 9.6%
685 Days until Election Day December 18, 2008 QUOTE OF THE DAY: "The public’s trust of politicians and government is at an all-time low and political leaders must work to restore the public’s trust. It would send a strong message that the old way of politics is over if every Member of Congress to receive this tainted money simply gave it back." – Saul | Read More »
Obama: Billions for Pork Barrel Earmarks
Barack Obama used his weekly radio address today to promise prompt action on a massive economic stimulus package: President-elect Barack Obama said Saturday that he had started work on a sustained, two-year economic stimulus plan designed to create or save 2.5 million jobs, funnel money toward public works programs to repair the country’s failing infrastructure and invest in alternative energy programs. Mr. Obama’s plan, which | Read More »
Record number of Michigan families forced to live on streets under Dem leadership
Cross-posted on Right Michigan at www.RightMichigan.com.Talk about the economy and eyes can glaze over. There are numbers and statistics and projections and data points and bar charts… it’s all very academic. Except that it isn’t. The Ivory Tower connects, this morning, with the human side of the Granholm – Cherry economy.The faces of that economy? A mom and a dad and their little girl, evicted | Read More »
Michigan economy continues slide while Gov, bureaucrats leave the country
Cross-posted on Right Michigan at www.RightMichigan.com.Barack Obama swept in a host of new Democrats in Michigan on Tuesday and here we are, two days later, and not only has no one walked on water, the local economic news just continues to get worse.And the Governor’s reaction? She’s heading to the Holy Land on a quixotic crusade to bring jobs back to Michigan. The Lansing State | Read More »