New USA jobless claims rise unexpectedly

[Jack Springer]

All the spin by the pro-Obama media will not change the fact that the economy is getting worse.

There is no interest in creating or filling jobs by most companies -- I know, I'm currently looking.

If creating tax cuts for business would help the economy grow like it has in past recessions -- why not do that. Creating more government didn't help in the 1930's -- I doubt it will help now.

 

[naked gent]

Creating more government didn't help in the 1930's -- I doubt it will help now.

I guess it depends on what you mean by "help".

Unemployment was 24.9% in 1933 and through government programs was reduced to 14.3% in 1937.

Does that qualify as help to you?

 

[Apollo]

One doesn't really need an article to tell you that the economy is getting worse.

 

[Kulindahr]

Unexpectedly!? Yeah, if you were in a coma the last 6 months.



Also...

Despite all the talk of “green shoots”, Warren Buffett says that he’s seen no bounce in the economy. He tells CNBC

But one day soon

I saw the first "Now hiring" sign in my hometown this year, just the other day. The last one, at a gas station in December, brought forty-two applicants in one day.

Meanwhile, with local construction people and contractors out of work, the YMCA for its new construction is bringing in outfits, with their employees, from a hundred miles away -- and they have a sign over the entry desk that says "Helping the Community".

 

[grantt]

One doesn't really need an article to tell you that the economy is getting worse.

Maybe not, but Obama and Company needs to realize that the agenda is not making the economy better. Talk of a new Stimulus Package is scary. The first one did nothing to create jobs. The jobless rate will rise considerably more with the direction he is taking.

 

[Kulindahr]

Maybe not, but Obama and Company needs to realize that the agenda is not making the economy better. Talk of a new Stimulus Package is scary. The first one did nothing to create jobs. The jobless rate will rise considerably more with the direction he is taking.

The "stimulus" isn't working -- and now the cap-and-trade Waxman-Markey Energy Bill has made it through the House, something Obama promised during the campaign would drive energy costs up for everyone. That won't help the economy at all....

 

[jackoroe]

There was no "unexpectedly" about this at all, at least among people who have some grasp as to how the economy works. Unemployment is likely to hit 10% by years end. If any of these regressive tax schemes are enacted, look for 12% by first quarter of next year.

 

[grantt]

I fear that 12% could be modest. Next year being a Congressional Election year, if the same folks get re-elected, we deserve what we get.

 

[Kulindahr]

I fear that 12% could be modest. Next year being a Congressional Election year, if the same folks get re-elected, we deserve what we get.

There are places already where people would be absolutely thrilled if the unemployment rate was only 12%.

 

[NickCole]

Huh. Seems clear that 95% of taxpayers got a tax cut,

Really? Where is the evidence of that? I mean besides the fact that millions more Americans are out of work or had to take lower paying jobs and therefore "got a tax cut."

so perhaps you could, you know, explain which "regressive" tax schemes you refer to?

Maybe he's referring to increased "sin" taxes on cigarettes, soda, alcohol, and taxing health care benefits. There will be many more regressive taxes in the years to come. But not to fear: the wealthy will be taxed more as well. The Fed will reach far and wide to pay for all these Bush and Obama messes.

 

[NickCole]

Let's see what's in the economic news ...

NEW YORK, July 7 (Reuters) - U.S. stock futures pointed to a flat open on Tuesday as investors turned cautious ahead of corporate earnings results, and talk for the need of a second fiscal stimulus package underscored worries about the U.S. economic recovery.

Signaling the economy's difficulty in rebounding from an 18-month-long recession, a member of the Obama administration's economic advisory panel said the United States should plan to possibly provide a second round of stimulus funds to prop up the economy.
http://www.reuters.com/article/rbssEnergyNews/idUSN0730652020090707

As I said at the time, Obama's economic stimulus bill was too small and too bloated with non-stimulative stuff.

Passing another stimulus bill, one big enough to do any good, will be harder, especially while he's got health care legislation on the table and is trying to push through cap and trade.

Sure hope there aren't any gays still hoping Obama will be a fierce advocate for us obtaining equal access to Federal benefits because that window is closed.

But hey, Michelle and the girls looked like they were having fun traveling in Russia.

 

[cityboy-stl]

And the people be damned..... http://counterpunch.com/roberts02182009.html

It's all just another scheme to make the rich richer at our expense.

 

[NickCole]

And the people be damned..... http://counterpunch.com/roberts02182009.html

It's all just another scheme to make the rich richer at our expense.

As I've said since well before the election, Obama is no change from Bush. He championed the Paulson/Bush bailout and has pursued a financial/economic policy that continues the same dishonest scheming and debt building. Rather than making our economy healthier, Obama is making it sicker.

Obama lied about change and he lied about special interest groups.

Our economy was in crisis during the Primaries and it remains in crisis, though Obama has had prime opportunity to turn it around. As with Bush, we will be in worse shape because of choices Obama made.

 

[Kulindahr]

Obama lied about change and he lied about special interest groups.

Our economy was in crisis during the Primaries and it remains in crisis, though Obama has had prime opportunity to turn it around. As with Bush, we will be in worse shape because of choices Obama made.

Just what opportunities has he had to turn it around?

 

[landers]

The stimulus plan hasn't had time to work yet. On average, any kind of economic plan takes 6 months to have any effect. We're just now coming up on 6 months since the stimulus plan was signed into law. The next three months will show whether or not the stimulus has helped at all.