Records And Unemployment

Gateway Pundit brings us two great updates on key subjects right now:

Unemployment

The economy continues to shrink with Barack Obama and the anti-business Democrats in charge.

(Numbers from Misery Index)

The unemployment rate is now the highest its been since 1983 when Ronald Reagan started to turn the economy around after the disaster of the Carter years.
The AP reported:

The nation's unemployment rate bolted to 8.1 percent in February, the highest since late 1983, as cost-cutting employers slashed 651,000 jobs amid a deepening recession.

Both figures were worse than analysts expected and the Labor Department's report shows America's workers being clobbered by a relentless wave of layoffs unlikely to ease anytime soon.

The net loss of 651,000 jobs in February came after even deeper payroll reductions in the prior two months, according to revised figures released Friday. The economy lost 681,000 jobs in December and another 655,000 in January.

The American Small Business Association already announced that 14% of small businesses may close this year due to the hostile policies of the Obama Administration.
This will add significantly to the unemployment numbers.

It's too bad the democrats wouldn't listen to Goerge Bush or John McCain when they had the chance.

How about that!  And here I thought Obama was supposed to save or create jobs…

Breaking Record After Record

Obama keeps racking up those records…
** The stock market had its worst January in 113 years.
** This was followed by the worst February for the stock market since 1933.
** Don't forget the record unemployment rate.
** Obama's budget more than doubles the national debt held by the public, and adds more to the debt than all previous presidents — from George Washington to George W. Bush — combined.

And, now this…
The Dow has dropped faster under Obama than any other new president in 90 years.

Today the Dow continued its decline.
Fox News reported:

The Dow Jones Industrial Average has fallen faster under President Obama than under any new president in at least 90 years, according to a review conducted by Bloomberg.

Bloomberg reports that since Inauguration Day, the Dow has fallen 20 percent, leading at least one investor to dub this the “Obama bear market.” The Dow has also dropped 31 percent since Election Day.

Despite a string of government bailout offers and Obama's advice earlier this week that Americans should be buying stock while shares are low, the Dow has continued to freefall.

Bloomberg reported that Obama is at risk of breaking a historical trend — in which the Dow soars an average of close to 10 percent in the first year after a Democrat wins the presidency.

Remember, this is not a bipartisan result.  This is the Obamessiah's show.  He may not have foundered the ship — that illustrious honor belongs merely to his party in general — but rather than pumping air into the ballast tanks he has attached several giant iron anchors to it and is currently busy piling cement bricks on the decking.

Had enough of Hope-n-Change yet?  Don't worry, you will.  Just wait…it'll get even better.  After all, he's only implemented his economic policy so far.  He has yet to push cap-and-trade or universal health care through.  But those are coming…soon.

There's my two cents.

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About

I'm a gun-owning, Bible-thumping, bitter clinger conservative in the heartland. You can disagree with me if you want (you do, after all, have a right to be wrong)...just don't be rude or stupid and we'll get along just fine! :)

Posted in Economy, Liberal Hypocrisy

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