Obama Fails on Jobs: Obama Un-Creates 53,000 New Jobs in Two Weeks (Un-Creating 496,000 Jobs a Week)--Obama Fiddles With Health Care as America Burns

This week's economic numbers have been a DISASTER--the worst economic news since the very depths of the recession। Early in the week, the "consumer confidence index" fell from 56.5 to 46--the worst since April and almost an unprecedented DETERIORATION in that number. Yesterday, the report was that new home sales had fallen to the worst level ON RECORD (record keeping began in 1963). Today came this news on jobs, quoting from MarketWatch:

"The Labor Department said Thursday that weekly jobless claims unexpectedly surged last week by 22,000 to 496,000 in the week ended Feb। 20, their highest level in over three months। Economists surveyed by Dow Jones Newswires had expected initial claims to decrease by 13,000।" (Editor's note: Economists truly are the Stupidest People on Earth outside of the mainstream media। Who else is ALWAYS wrong?)

"initial jobless claims" is the statistic showing the gross (not the net, but when Obama brags about jobs "saved/created" he is also talking about the gross and not the net) number of jobs lost in the previous week---as measured by people filing a new unemployment claim saying that they have lost employment। In the past two weeks, Obama truly has "un-created" 53,000 ADDITIONAL jobs, and is now "un-creating" jobs at a rate of 496,000 a week. 425,000 is about the number necessary (normal attrition) to avoid losing NET jobs. Yes, if you go back three weeks the jobless claims number improved by 40,000, at which point "economists" (the Stupidest People on Earth-as I stated at the time, IN FORESIGHT) said that this showed that the job market had finally "turned the corner". No, it hasn't. The weekly jobless claims number has now rsen 6 of the past 8 weeks--to a more than three month HIGH (as I have been telling you).

This week's items of economic news are CONSISTENT with one another। Taken together, they indicate an economy--certainly a job market--that is now DETERIORATING again. This is a total FAILURE of Obama economic policy, and shows his promises about Big Government spending to be FALSE.

What is Obama's response to this disastrous situation? Oh, come on। You know this one. Obama is continuing to push that ridiculous 2700 page health care "ref form" bill that nobody wants--to the point of that six hour exercise in political theater today. If Obama and the Democrats somehow manage to ram that bill trough--a bill that raises TAXES and puts burdens on both business and individuals--it will only make the economy WORSE. Yes, Obama's "response" to disaster is more of the same--more of the same Big Government spending that has FAILED, and more burdens on the private sector in favor of Big Government. How can businesses possibly hire when Obama continues to make their future uncertain (massive government takeover of health care; cap and trade "environmental" taxes/insanity, etc.). We obviously should not even be TALKING about any kind of massive new government health care bill unless and until the economy is on better footing--even if it were otherwise a good idea (which it is not).

Now a comment to my article yesterday (on the terrible new home sales number) asked how I can say this is the fault of one man। Here is my response, and I stand by it:

There is no doubt I am merely using Obama as the visible SYMBOL for the utter FAILURE of Federal Government central planning। Harry Reid, Nancy Pelosi and even George W. Bush--certainly almost all of the Democrats in Congress and a number of the Republicans--can be regarded as "at fault". As I have previously shown, Obama is now in the midst of "Bush's third term", only worse than the disastrous Bush's second term.

However, Obama PROMISED। He promised that if we spent all of this money, things would be better. He PROMISED--false at the time he said it--that if we passed the Obama "stimulus" bill, Caterpillar--and other employers would be able to rehire workers. He PROMISED that, if we passed the Obama "stimulus" bill, unemployment would not rise above 8%, while if we did not unemployment would rise above 10% (as it did ANYWAY).

In the process of all of this spending for NOTHING (except political pork), Obama polices have BANKRUPTED the country।

Nope। I have no qualms about using Obama as the visible symbol of this failure. He ASKED to be that symbol, and should be held accountable for what he has said.

P.S. The reference in the title is to Roman Emperor Nero, who is reputed to have fiddled while watching Rome burn--in a fire Nero essentially created. The reference is NOT to the fraud of "global warming".