Apr

“Jobless claims soar”

From CNN:

The number of Americans filing for unemployment insurance for the first time jumped last week, according to government data released Thursday.

There were 460,000 initial jobless claims filed in the week ended April 3, up 18,000 from an upwardly revised 442,000 the previous week, according to the Labor Department’s weekly report.

Three words: Healthcare reform bill.

Employers know more taxes are coming, and they are not willing to take on the additional payroll responsibility of new employees.

We are so far along in this “Great Recession” that it should really be a thing of the past by now. Yet it’s not – in fact, it’s deepening, despite all the propaganda to the contrary.

What propaganda exactly, you say? From the same story:

Economists surveyed by Briefing.com expected new claims to fall to 435,000 in the week.

I won’t pretend to understand all the rigorous qualifications and credentials that make somebody an “economist,” but after 2.5 years of closely following the news, “economists” have a worse prediction record than the Intergovernmental Panel on Climate Change. The vast majority seem like Pollyannas (which is somewhat surprising for these “dismal” scientists). Equally startling is this recent suggestion by MarketWatch’s chief economist that Obama begin a slew of FDR-like bureaus to direct economic activity.

More insidious propaganda emanates from the official channels of government. President Obama is becoming the new Hoover. Whether his policies are working or not is beyond dispute; they are a complete and utter failure and have spawned a grassroots-based national protest movement.

A useful question to ask is if his priorities include genuine economic recovery. Seeing as when he takes occasional time away from trashing our allies and mollycoddling our enemies his primary domestic efforts are in taxing energy, I submit that he judges the well-being of the private sector inconsequential.

This post and the contents thereof are the views of only the author identified immediately above and do not necessarily represent the views of the New York Young Republican Club, Inc. (the "NYYRC"), its officers or its members. The NYYRC expressly disclaims responsibility for the contents thereof and by its charter documents may not, and does not, endorse any candidate for any office, except in a general election.