Posts Tagged ‘9.4%’

Jobless Claims Rise ‘Unexpectedly’: Don’t Make This A Drinking Game Or You’ll Die

January 14, 2011

The mainstream media have made sure the word of the 2nd decade of the 21st century will be “unexpected.”  With “unexpectedly the top adverb.

I liked Indylindy’s take on the following story best:

Silly people, don’t you know the whole nation was healed last night? Who gives a damn if we have jobs?

We have Barry. /sarc

From Reuters:

Instant View: Jobless claims jump most in 6 months
NEW YORK | Thu Jan 13, 2011 9:03am EST

(Reuters) – U.S. jobless claims jumped unexpectedly last week to their highest level since October, suggesting the labor market is still in a rut despite signs of improvement in the economy.

The U.S. trade deficit narrowed unexpectedly in November as exports climbed to the highest level in more than two years, government data showed on Thursday.

U.S. producer prices rose more than expected in December as energy and food costs surged while underlying inflation remained subdued, highlighting a divergence that complicates the outlook for monetary policy.

KEY POINTS: * The number of Americans filing for first-time unemployment benefits rose to 445,000 from an upwardly revised reading of 410,000 in the prior week, the Labor Department said. * It was the biggest one-week jump in about six months, confounding analyst forecasts for a small drop to 405,000. * A Labor Department official noted the rebound occurred following the holidays, which may have hindered reporting of new claims and created a backlog. * The trade gap dipped to $38.3 billion from $38.4 billion in October, the Commerce Department reported. * Analysts surveyed before the report had expected the November trade deficit to widen slightly to $40.5 billion from October’s originally reported $38.7 billion. * November’s deficit was the lowest since January 2010. * Prices at the wholesale level climbed 1.1 percent after a 0.8 percent rise in November, the Labor Department said. * Economists had been looking for a repeat of that 0.8 percent advance in December. * Inflation excluding food and energy, however, rose just 0.2 percent, in line with forecasts. That left the year-on-year gain in core producer prices at 1.3 percent, just below analyst estimates.

If you are playing a drinking game using the word “unexpectedly” please stop immediately.  Because your liver will never last the final two years of the Obama presidency.

“U.S. jobless claims jumped unexpectedly…

Drink…

And yes, I mean your Kool Aid has been spiked.

Another factor that isn’t getting anywhere nearly enough media coverage is inflation.  As the economy continues to falter under Obama’s failed policies, those unemployed people are facing higher and higher food and fuel prices.

Conservatives were saying throughout the 2008 campaign that “hope and change” were never concretely defined.  Well, two years into Obama, you get to see what “hope” and “change” looks like.  Still liking it?

If you voted for Obama, you deserve to starve in the dark and cold.  It’s those poor suckers who opposed his regime who are now suffering its effects anyway that I pity.

Democrats and mainstream media “journalists” continue to “blame Bush” for the fact that the unemployment rate increased 34.2% from when Bush left office under Obama’s watch.  Their demagogic “Don’t blame us for our policies” rhetoric reminds one of the old communist Soviet Union, whose miserable agricultural performance was attributed to 72 years of bad weather.

The mainstream media has no intention whatsoever of being objective or honest when it comes to covering the results of Obama’s economic policies.  When Republicans are running things, even good news is depicted as bad news, with stories about fears of what could happen, but whenever a Democrat is in charge, even the very worst news must be wrapped in some sort of positive context.

The “unexpected” is “expectedly unexpected” once you learn the constant bait-and-switch games the media plays to the Democrat White House’s fiddling tune.

Last month, when there would have been your usual Christmas hiring.  But the media didn’t point out that the unemployment rate reflected 1) a very temporary blip due to phenomena such as Christmas hiring followed by New Years layoffs, and 2) the even more frightening fact that the rate was mostly impacted by people who were so discouraged they’d stopped looking for work:

But the job growth fell short of expectations based on a strengthening economy. And the drop in unemployment was partly because people stopped looking for work. […]

But other factors can affect the unemployment rate, at least temporarily. One key reason for the drop was that the government no longer counts people as unemployed when they stop looking for work.

But the only thing that mattered to most mainstream media organizations was that that way-too-close-to-10% number went down from 9.7% to 9.4%.  And that favored Obama.  So they went out and sang songs of rejoicing about it.

It would have been quite easy to put a Republican spin on that employment story of December: Republicans win the biggest victory since 1928, and all of a sudden the unemployment rate takes a huge drop as businesses realize that there will be somebody to stop a president and Democrat Party out to destroy businesses.  But I’m not like the mainstream media: I don’t delete any of my stories, and people actually hold me responsible in comments.  And I held off on pimping the good job numbers because I was pretty sure that the “good” unemployment statistic was nothing more than a temporary blip that was being pimped by liberals.

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Obama Wreckovery Act And Stimulus ‘Employment’: The Pathetic Reality

June 17, 2009

I downloaded the Obama administration’s “Recovery Report: 100 Days, 100 Projects.” It was an utterly laughable experience.

I copied the “100 projects” into a Word file and then conducted a search with the word “employees.” Here were the results of EVERY single occurrence:

9) A company in Maine “that had been struggling to pay its 19 employees” now being “back to work” thanks to a $2 million stimulus handout.

14) A New York construction company was able to rehire laid-off seasonal employees. Slate Hill had previously laid off 40 seasonal employees, possibly at the END OF THE SEASON. There is no mention of how many seasonal employees (meaning these are not full time jobs) were rehired, but the cost was over $7 million of your dollars in stimulus contract money.

15) The president of New Hampshire paving company Continental Paving ESTIMATES he would have had to lay off 75 employees if it weren’t for the Recovery Act (I “estimate” he may be a liberal). In any event, however many of those 75 jobs were actually “saved” come at the cost of $10 million in stimulus money.

29) EnergX, a Department of Energy contractor, has 87 new employees on the job. We’re told that that these jobs “are supported by Recovery Act funding” – whatever that means. No mention of how much government money they are getting.

51) An auto-repair business owner received $463,500 in stimulus funds which we’re told are “strengthening his short-term cash flow and putting him and his 10 employees in position to increase sales as the economy turns around.” Note that no mention is made of any new employees hired.

58) A start-up tire-recycling plant owner had borrowing fees of $45,750 for a $1.715 million equipment loan paid by stimulus funds. The owner “hopes to have 34 employees onboard by New Year’s Day next year.” Clearly, IF the owner is able to hire 34 employees, it will NOT be due to the pissant borrowing fees for the near $2 million in private bank loans.

75) Four hundred employees hired using Recovery Act funding reported for work at the Hanford Site in southeastern Washington State. Now we’re getting somewhere! 400 plus a few employees from the other 74 programs, at a cost of ONLY $3.27 TRILLION!!! We’re not told how much these employees cost taxpayers, but we ARE told that most of the employees will be UNION.

83) A company selling and installing energy-saving window films for commercial buildings, saved $6,970 in fees on its SBA 504 loan when it bought a new space five times larger than its previous home. We’re told “the savings will help owners John and Kimberly Henderson add three employees to their staff of 12.” If you know any business owner who has ever hired full-time employees, ask him or her how much $7 grand in saved fee-money would go toward such a hiring decision. And THINK ABOUT IT: $3.27 TRILLION DOLLARS, AND OBAMA IS POINTING AT “HELPING” HIRE 3 EMPLOYEES IN ITS LIST OF HIS TOP 100 ACHIEVEMENTS!!!

And that’s IT. That’s ALL THE JOBS THE OBAMA ADMINISTRATION SEEMS TO BE ABLE TO ACCOUNT FOR. And most of the list of EIGHT businesses really aren’t able to hire employees based on anything Obama did with his – did I mention? – $3.27 TRILLION in porkulus.

Think about it: this is Obama’s own “Look what we’ve accomplished!” list. This is all the man has to show for the largest spending bill in the history of human civilization! How would Mister Rogers put it: “Can you say, “pathetic”? I think you can!”

I wrote an article earlier this month titled, “Obama And Unemployment: Just So You Know How Pathetically Incompetent Dear Leader Is.” You might say it’s a harshly-worded title – until you see just what a ZERO Obama (who interestingly enough is often ALSO called “Zero“) has produced with more money than any government has ever spent in the entire history of the planet. That article mentions facts such as how Republicans were shut out of the bill; how no one in Congress was even allowed to read it before it was rushed through; how Republicans PREDICTED it would be a gigantic boondoggle; how Obama time after time boasted that he’d “saved” jobs only to see those very jobs go down the drain; how Obama created a marketing term called “saved jobs” to “create” 150,000 phantom jobs out of thin air that he could take credit for; how the stimulus money isn’t even going to the poorest counties that need help most; and how the Obama administration promised that unemployment – which is now at 9.4%would NOT go above 8% if his stimulus bill was passed. And on, and on. Hence the disparaging title describing a failed president and a failed economic policy.

Obama is now claiming that his administration will “create or save” 600,000 MORE phantom jobs. Just realize that the US Bureau of Labor Statistics is already on record claiming it has no way to verify Obama’s job numbers. Because they are a fantasy (Michelle Malkin calls it “The biggest most magical makework program ever“). The mainstream media – which adores their new “Dear Leader” – would never haved allowed President Bush to make claims about “saved” jobs. The whole thing is like building a house of cards in the wind.

All that as an introduction to this:

Stimulus program fraught with waste, report says

A Republican senator’s office says stimulus funds are going toward dubious projects, such as a $3.4-million tunnel for turtles. Obama aides say the report is flawed.

By Peter Nicholas, June 15, 2009

Reporting from Washington — A report due to be released today by a Republican senator contends the Obama administration’s stimulus program is fraught with waste and incompetence — evidenced by a turtle crossing in northern Florida that will cost more than $3 million and a snafu in which thousands of Social Security checks went out to people who had died.

Modeled after a release from the White House describing 100 stimulus projects that were in the works, the report put out by Sen. Tom Coburn of Oklahoma looks at the same number of projects but reaches starkly different conclusions. The title is “A Second Opinion on the Stimulus.”

“Will these projects make real improvements in the lives of taxpayers and communities or are they simply pet projects of politicians and lobbyists that never got off the ground because they are a low priority?” the report says.

Coburn’s staff spent about a month interviewing federal officials, reviewing data and compiling news clippings in a continuing examination of the $787-billion stimulus package.

Millions of dollars are going toward bicycle lockers, bike paths, walking trails and a skate park, Coburn said. One town in North Carolina is using stimulus funds to hire an administrator whose job will be to procure more stimulus funds, according to the report. […]

A theme of Coburn’s work is that money is going toward dubious projects that will leave little imprint. One project mentioned is the $3.4-million construction of a 13-foot tunnel near Tallahassee, Fla., that will allow turtles and other wildlife to safely cross U.S. Highway 27.

The report said the area “has the highest road-kill mortality rate for turtles in the world.” But it also suggests other uses for the money, and mentions Florida State University’s plans to lay off 200 faculty and staff members in hopes of saving millions of dollars.

Officials at the Florida Department of Transportation defended the project as one that not only would save turtles but also protect motorists. “A lot of these turtles are quite large. They get hit by a car, and they turn into flying objects,” said Josh Boan, the department’s natural resources manager.

Construction on the tunnel is to begin in September. State officials could not estimate how many jobs would be created.

Raising questions about the government’s ability to manage the stimulus money, Coburn’s report also focuses on more than 8,000 Social Security checks that have been mailed to people who are dead.

A spokesman for the Social Security system said the checks were mailed based on erroneous records. In most cases, the Postal Service returns the checks directly to the government.

One $250 check went to the home of Antonietta Santopadre, a 74-year-old retired hairdresser living in New York. The check was made out to her father, who died 35 years ago. In an interview Monday, Santopadre said: “I was infuriated. Where’s our money going? Our country is in such trouble right now.”

The Coburn report entitled “A Second Opinion on the Stimulus” is now available. Some of the section titles:

– “Free” Stimulus Money Results in Higher Utility Costs for Residents of Perkins, Oklahoma.

– FutureGen: The Stimulus Earmark that Wasn’t, Becomes the Costliest Pork Project in History.

– Little-Used “Shovel-Ready” Bridges in Rural Wisconsin Given Priority Over Widely Used Structurally Deficient Bridges.

– $800,000 for little-used Johnstown, Pennsylvania airport to repave a back-up runway; the “Airport for Nobody” Has Already Received Tens of Millions in Taxpayer dollars [note: that’s in pork-king and king-scumbag Jack Murtha’s district].

– $3.4 Million for Wildlife “Eco-Passage” in Florida; Project Still May Take Years to Finish [note: that’s the one about the turtles while 200 nearby employees are being laid off].

– Nevada Non-Profit Gets Weatherization Contract After Being Fired For Same Work.

– Non-Existent Oklahoma Lake in Line for Over $1 Million To Construct a New Guardrail.

– Taxpayers Taken for a Ride: Nearly $10 Million to be Spent to Renovate a Century Old Train Station that Hasn’t Been Used in 30 Years.

– Ten Thousand Dead People Get Stimulus Checks, Social Security Administration Blames a Tough Deadline.

-Town of Union, New York, Encouraged to Spend Money It Did Not Request For a Homelessness Problem It Does Not Have.

Mind you, this is just the porkulus bill. There was also the 9,287 pork-project-laden $410 billion Omnibus spending bill and the soon-to-come $1.5 trillion socialized health care bill (which will easily be triple that, given the longstanding tradition of massive underestimation of the actual cost of government programs).

And as we speak, Obama is showing how much he wants to save taxpayer money by illegally firing an Inspector General (in flagrant violation of a law he personally co-sponsored as a Senator) in order to protect one of his friends who abused Americorps funds.

One quote in particular that set me off:

In the course of his investigation, Walpin found [Sacramento Mayor and personal friend of Barack Obama Kevin] Johnson and St. HOPE had failed to use the federal money they received for the purposes specified in the grant and had also used federally-funded AmeriCorps staff for, among other things, “driving [Johnson] to personal appointments, washing his car, and running personal errands.”

I don’t know ’bout you, but I’m hoping to get me a job shinin’ Massah Bureaucrat’s shoes some day.

There are a whole lot of questions about whether Obama is creating any jobs with his massive government spending, but there is no question at all that the trillions of dollars being spent are all-too-real. And there is no question that the anvil will fall on the US economy due to the near doubling of the national debt as Obama adds a projected $9.3 trillion to the $11.7 trillion hole we’re already in. Obama is borrowing 50 cents on the dollar as he explodes the federal deficit by spending four times more than Bush spent in 2008 and in the process “adding more to the debt than all presidents — from George Washington to George Bush — combined.” And most terrifying of all, Obama’s spending will cause debt to double from 41% of GDP in 2008 to a crushing 82% of GDP in 2019.

What will be the result of all this insane spending, and not very far off? A quote from a CNS News story should awaken anyone who thinks the future will be rosy:

By 2019, the CBO said, a whopping 82 percent of the nation’s gross domestic product (GDP) will go to pay down the national debt. This means that in future years, the government could owe its creditors more than the goods and services that the entire economy can produce.

All that staggering hyperinflation-creating debt, and about the only jobs that are being created by it are washing cars and running errands for politically-connected Democrats.