Today’s jobless claims came in at 382,000. Expectations were 373,000. This is the fifth week the experts missed. They expected them to be lower.
Pathetic, isn’t it? We keep climbing towards the horrendous 400K, but before the election you know the numbers will be massaged to avoid that at all costs.
If you run into someone so deluded that they think Obama has done OK on the economy, here are a few talking points on facts on the day Obama was inaugurated to now:
* 12 million unemployed then; 12.54 million now. So much for billions in stimulus money.
* Long term unemployment has gone from 2.7 million to 5 million.
* Middle class income went down $3,960.
* Federal debt from $10.6 trillion to $16 trillion, a fact Obama couldn’t remember on the David Letterman show.
* Gas was $1.85 a gallon; it has gone to $3.86.
* Americans in poverty numbered 39.8 million. Now it’s 46.2 million.
* Debt per person was $34,731 and now it has climbed to $51,037.
* College tuition has gone up 25%. It will probably grow.
* Our global competitiveness was first and has fallen to 7th.
We got change, for sure. Now there’s little hope.