Just imagine if we had an impartial media. The current occupant of the White House would probably be hovering around a 25% approval rating based on the continual stream of anemic economic news. Yet somehow every time we get more bad economic news, it’s always unexpected to the media. Either these folks are party to a long-running inside joke or they’re totally clueless, just dutifully carrying water for this failed administration.
The number of Americans filing new claims for unemployment aid unexpectedly edged higher last week, stoking fears of a stalled economic recovery even as a separate report showed record exports in April.
Initial claims for state jobless benefits increased 1,000 to 427,000, the Labor Department said. However, economists polled by Reuters had forecast claims dropping to 415,000 from a previously reported count of 422,000.
Recall we were promised a steadily declining unemployment rate thanks to the wondrous trillion-dollar stimulus package shoved down our throats back in February 2009. Of course, now they claim that’s saved us from an even worse economic picture. Sure.
Hembre said the unemployment rate could rise to 9.2 percent in the June report. That would add to President Barack Obama’s political woes heading into the 2012 race for the White House.
So if they claim the unemployment rate “could” rise, expect it to unexpectedly climb even higher.
None of this can be going over well in the land of sugar plum fairies and magic unicorns, where they tell us not to panic. Everything’s just peachy, millions of mystery jobs are being “saved or created” and heck, you idiots, it was all Bush’s fault anyway, so just shut up and get to the back of the bus.
Since Friday’s release of dismal May employment numbers, the lame duck chairman of Obama’s Council of Economic Advisers, Austan Goolsbee, has been on a mission to apply lipstick to increasingly homely economic news. The anemic jobs report capped a long string of subpar numbers, including falling home prices, grim housing numbers, skidding revenues at Walmart and Target. Voters are so disheartened that nearly half told CNN polltakers the U.S. would fall into a Great Depression-that’s with a “d”– within 12 months.
Good luck selling this come re-election time.
Despite his repeated attempts to assure the nation the economy is improving, roughly six in ten Americans (59 percent) think Obama is doing a poor job with the nation’s economy, up from 55 percent a month ago. Just last week, as new unemployment numbers were released, he told a group of auto workers in Ohio time would help mend their current economic woes, even if it felt like they’d been hit by a truck.
Is there anything Obama touches that doesn’t quickly go downhill? He must be the happiest man in the world that Anthony Weiner‘s foibles have dominated the news cycle the past ten days.
But let’s be optimistic and think positively. As a former failed comedian notes here, we may thankfully be free of Obama in two years. We can only hope.