Sep 04 2009
Unemployment Sky Rocketing As Stimulus Bill Goes Bust
Don’t have time for a long post on this not surprising news, but the unemployment rate jumped in August to a 26 year high:
U.S. employers cut a fewer-than-expected 216,000 jobs in August, while the unemployment rate rose to a 26-year high, the government said on Friday in a report showing a still fragile labor market.
The Labor Department said the unemployment rate rose to 9.7 percent after dipping to 9.4 percent in July and the decline in payrolls was the smallest in a year. The department revised job losses for June and July to show 49,000 more jobs lost than previously reported.
The problem is while the layoffs are slowing, they are not stopping. And we are still, each month, losing more jobs than gaining new ones. Obama’s stupid promise to ‘create or save’ millions of jobs with the liberal deficit busting, pork laden, kick back stimulus bill has been proven to be based on liberal fiction. The government can’t run to the rescue unless and only if it goes with tax cuts.
Another disturbing number is how many people are on extended and emergency unemployment stipends. This ever expanding number can be seen in the weekly Dept of Labor reports, such as yesterday’s. The number of people on Emergency Unemployment Compensation (EUC) is stunning:
States reported 3,029,668 persons claiming EUC (Emergency Unemployment Compensation) benefits for the week ending Aug. 15, an increase of 85,570 from the prior week. There were 1,550,093 claimants in the comparable week in 2008. EUC weekly claims include both first and second tier activity.
The economy has shed 6.9 million jobs since December 2007 – with 3 million of those people sitting on these emergency extended benefits. This month’s report tried to find a ray of light with 70,000 new jobs, but it is delusional to think we have turned around the economy with a paltry 70,000 jobs while losing 216,000 and over 3,000,000 needed to get people off the EUC roles!
The liberal myth that government spending can impact or help the economy is now dead and busted. The so called emergency stimulus bill has yet to even kick in (see here for latest numbers showing 98% of the money STILL stuck in the bureaucracy). Don’t let anyone ever try and resurrect this naive myth again. The only way government can help the economy is to get its greedy fingers out of the private sector and reduce its burden. We should all be thanking the knuckleheads in DC for finally proving that liberal economic theory is all fantasy-fiction. Sadly so many good people had to suffer to learn that lesson.
The half-vast left-wing is still pumping out the propaganda:
“The stimulus is … working?”
“Could The Wall Street Journal actually be admitting that the federal stimulus is working? That certainly seems to be the case. ”
http://blogs.moneycentral.msn.com/topstocks/archive/2009/09/02/the-stimulus-is-working.aspx
I guess they’re hoping that if they repeat the lie enough times…
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Note how this information gets released on a Friday before a nice, long Holiday weekend. Look for September’s number (to be released in October) to be worse, as Summer time labor is laid off with a resultant spike in unempoyment claims.
Northern states will begin the construction layoffs in Sept. and unless Al Gorp ramps up the global warming they will continue through Oct. and Nov. culminating about a week before Christmas!
I long for the days when the democraps LIED about BOOSCH and Evil Republicans WANTING to cut Social Security and Medicare.
Much better times than Now when the DEMOCRATS actually are cutting them.
If I am not mistaken this is the largest number of unemployed workers the Republic has ever seen!
Put some lipstick on that Pig Obummer, Obiden!
Keep the CHANGE Pinnochio!
I just HOPE I can keep some of mine! (Hidden)
Maybe Obama should keep an eye on Afghanistan and stop legislating…….then we might add a few jobs.
Correction, dhunter: We’re no longer a republic since O has transformed us into an oligarchy — “a form of government in which all power is vested in a few persons or in a dominant class or clique; government by the few.”
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Ace has come up with the idea that from now on unemployment shall be known as “Funemployment!!!!”
because of course the only problems Obama has is that he isn’t messaging things just right.
btw, it’s been kind of fun to watch Charles Johnson over at LGF try to defend Van Johnson for being a “truther”, people who up to now Charlie has despised. Even better, Charlie’s trying to deny that Van Johnson really signed the “truther” petition in 2004, even though Van Johnson himself has admitted that he has.
I think Charlie’s finally jumped the whale shark.
Does Obama have a general jobs kaiser yet or does he only have his green jobs kaiser?
And WWS, yeah, I have noticed a change in Charles’ postings that is quite odd. I don’t stop by there as often as I used to.
It’s simple – Charles had to choose between being honest or being an Obamabot. He chose Obamabot.
I think this came about because Charles had put so much time and energy into attacking Glen Beck. Now I’m no big Beck fan – at times he’s amusing, at times he’s absurd, and I only see bits of his show occasionally. But he’s certainly not worth all the vitriol Charles has been heaping on him.
The worst part is that Charles let himself get personally invested in this blood feud with a TV personality. (very foolish) Now Beck has been the first one to really zero in on Van Johnson, so Charles has decided that Johnson must be pure as the driven snow. Again, really foolish to decide you hate someone so much you oppose anything they do without bothering to think about it.
Unfortunately for Charles, this looks like when of those times when Beck (Gasp!!!) just happens to be right. Rather than backing down and admitting that he could be wrong, Charles has decided to throw all the credibility he’s spent years building into the toilet.
Unquestioning hatred will do that to a person.
You have to get past Glenn Beck’s dramatics to get to the facts. And he’s been doing a fantastic job getting those facts out to us.
We need more of Glenn and Rush to reach more of the American public to learn to see through Obama, his CZARs, Congress.
For some reason, I stopped lurking LGF a few months ago. Think it had to do with his position on certain things that threw me off…starting with the British National Party. Of course, it is a racist party and Lionheart was a member of it. But this party is trying to push back the growth of the Muslim population in England.
Now that LGF went after Glenn Beck, that’s double standard.
How long til Van Johnson “resigns” because “he doesn’t want to be a distraction”, even though OF COURSE he isn’t going to be fired!
Heh – building up to his big speech, Obama – scratch that, Axelrod and Rahm know that this is the LAST thing Obama needs right now. Heh heh… it’s like Skip Gates all over again. Under the bus with ye, Van!!!
OT:
I am absolutely outraged that the AP published a photo of a dying Marine. I am further outraged that a popular liberal website has decided to put it front and center on their main landing page.
The Associated Press is the enemy of the American people.
Teen unemployment passed 25%, the highest since records have been kept, due to a combination of the recession and the minimum wage hikes.
Videos of Van Johnson are popping up all over the place and calls for his exit are mounting.
CJ is in self destruct mode and ACE has put the spurs to him.
I have to agree with WWS about Charles Johnson. I don’t know quite why, but the last election seems to have changed a number of people, or at least revealed to the rest of us certain sides to their personalities that we haven’t seen before. Certain well-known “conservative” pundits were more willing to accept Barack Obama than Sarah Palin, for example. Charles Johnson seems to be another one who maybe wasn’t quite who we thought he was, and I’ve been visiting his site less and less.
I think Charles also got into that whole science debate.
And Beck probably helped send him over the edge.
I remember hearing Beck say that the left should impeach Bush over the borders and that the Patriot Act was scary…and now listen to him to go after Obama.
Beck is like Mikey, he hates everyone.
I mean come on, you could have had 2 million people on the southern border and there still would have been a 9/11, but if the Patriot Act had been in effect for the three or four years before that..those hijackers would have been caught.
So I think sometimes Beck goes too far, but he is what he is. And there are times when I have to admit I get a kick out of him making the Obama people look ridiculous.
Crosspatch:
I sent them a nasty little email about that. Shame on them.
Chucky and his bozos on LGF also swore that Obama did not bow to the king of Saudi Arabia.
Well, well,well. Looks like FHA is going to be in a world of hurt soon, in addition to Fannie and Freddie. Ready for the Mother Of All Bailots?
If it’s a choice between Charles or Beck = Charles hands down.
I have always thought Beck was over the top, but I did watch his show some last week and he did make several valid points. Though he does often make a considerable number of wacky points, too. His recent push on Obama’s kaisers has been pretty much on target, though.
This Van Jones seems to be quite the lunatic and Beck was the one who brought the guy into focus.
I began watching Glenn Beck in the last few months when he had his show with CNN because I couldn’t stand watching most of CNN. I thought it was strange for CNN to show someone like Glenn Beck. So I missed out all he said about Bush and his administration. I did get the part about the upcoming economic crisis. He had many economists on his show at CNN and I thought many of the economists were “survivalists” and over the board.
After he moved to Fox News, I thought he was better in spite of his dramatics. What helped temper his dramatics are his interviews. Although, he almost always appear to already know the answers in advance and sometimes interrupts the people too early.
It takes me a while to get his wacky points.
Glenn Beck asks the people that he is interviewing after he goes over anything about Obama, his administration, CZARs, Apollo Alliance, etc., if he is on the wrong track and they tell him no. He also asks his viewers to call him and tell him if there is anything that he is wrong about.
So far, Glenn has been right on almost all things and his viewing base continues to grow. Usually he’s the first one to report the facts to us and the Fox News evening shows repeat those facts but none of the alphabet news shows are. In fact, Byron York noticed that none of them have reported on Van Jones.
So last night someone on the Bret Baier’s show said that this is a great opportunity for the Republicans to lambaste Obama for keeping and standing by Van Jones.
Van Jones isn’t the only one of target. There are other CZARS just as bad or worse than Van Jones.
What’s interesting is that Glenn Beck is getting more people to do more research on Van Jones, such as his comments about Columbine.
His comments about Columbine is really bad. This is going to force Obama to throw Van under the bus and Redstate is absolutely spot on about Obama’s responsibility and accountability for hiring people like Van Jones without vetting.
Valerie Jarrett may be next. Cass Sustein, John Holdren, and Mark LLoyd are bad news. Maybe Mark Lloyd may be the next target because Mark is considering in getting a tax passed against 100 percent of the operating costs of radio shows that don’t meet his criteria to pay PBS and NPR.
PBS and NPR both need to be abolished.
When he had Rush on his show via phone conversation), the ratings shot up through the roof. Yesterday he had Rush on his show.
Think many conservative bloggers are jealous of Glenn’s viewing base.