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August 25, 2011
U.S. Jobless Claims Rise to 417,000
Topics: Political News and commentariesThe Labor Department reported today that new applications for U.S. unemployment compensation rose 5,000 to 417,000. And, as has repeatedly been the case, initial claims from two weeks ago were revised up to 412,000 from an original reading of 408,000.
No problem, though ... no cause for alarm - because our president is once again, for the umpteenth time, going to pivot to jobs, using his usual routine of more spending, more deficit, and more debt. The only difference is that this time, instead of that "specific jobs plan" that never materializes, he's downgrading it to an outline
So, we can all rest easy now, right? No need to rein-in government, tackle spending, lower tax rates, strip job-killing regulations, whittle away at the job-killing federal health care overhaul to whatever extent possible, and increase domestic oil production. No need to do something that makes genuine economic sense and can actually result in an increase in jobs. It's better to just stay stuck on Keynesian stupid, right?
We are soooo.... screwed!
Posted by Hyscience at August 25, 2011 9:57 AM
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