James Heiser
Senate Passes $15 Billion 'Jobs' Bill
As President Barack Obama’s jobless “recovery” is showing more and more signs of being no recovery at all, the Senate has voted another $15 billion to continuing pursuing their addiction to stimulus, and there are prospects that another $100 billion will be following shortly.
Unemployment Rate Rises to 9.8%
As extended unemployment benefits for two million Americans began to run out this week, the economic news from Washington remains bleak. According to the November Employment Situation Summary from the Bureau of Labor Statistics (BLS), the expectations of analysts have once again proven wrong, and the depth of the nation’s economic woes are significantly worse than anticipated.
Sluggish Spending and the Non-Recovery
Coming in the immediate aftermath of news that the sale of new homes dropped in January to its lowest point in 50 years, and that existing home sales hit a seven-month low, other economic indicators are offering further confirmation that prospects for the U.S. economy are dismal, at best.
Home Sales Drop to 50-Year Low
There are further signs that Barrack Obama’s jobless “recovery” is, in fact, no recovery at all. The latest indication of the fundamental unsoundness of the American economy is found in statistics from the Commerce Department. According to that department, the sale of new homes plummeted in January to the lowest rate recorded in fifty years. As The Washington Post reports:
Likely Collapse of the Euro Leads to Second Amendment Lessons
As the economic crisis in the European Union grows day by day, there is a proportionate degree of speculation around the world about the final extent of the damage that will be done by the looming collapse of the euro. According to Daniel Mitchell, a contributor to Forbes.com, many individuals among the wealthy elite in Europe are already planning to flee their respective countries for safe havens in nations such as Costa Rica or Australia. Meanwhile, the British Foreign Office is making plans to evacuate Britons from the Continent in the event of widespread rioting.
UN Bureaucrats Receive Pay Hike
United Nations Secretary General Ban Ki-Moon believes that there is a global environmental crisis that requires looting the Western economies to the tune of trillions of dollars in coming years. But such financial plundering apparently will not be standing in the way of a quite substantial pay increase for United Nations employees.
Study: Gov't. Payouts Are a Third of U.S. "Income"
If it sometimes feels like almost everyone is on the government dole except you, there may be a reason for that sensation: According to a recent study one-third of all income in the United States comes in various forms of “social welfare benefits.”
Obama “Recovery” Loses Another 500,000 Jobs
Following on the heals of the previous week’s stunning 484,000 new unemployment claims, the rise to 500,000 announced August 19 offers proof that the U.S. economy is far from the path to recovery. According to a story in the New York Post:
Unemployment Claims Jump to 484,000
The continuing implosion of the U.S. economy in the aftermath of unprecedented federal bailouts and unemployment programs has now brought forth a stunning loss of 484,000 jobs in a single week. What remains uncertain is when this news will penetrate the consciousness of policy makers in the White House and on Capitol Hill.
Obama's Jobless Recovery
The New York Times is now reporting what many Americans have figured out already: The Obama “recovery”) is a jobless recovery, leaving millions of Americans lacking the one thing that concerned them the most.