CNBC is reporting that new jobless claims rose to a 9 month high as of August 14th to 500,000 new claims. The word, “unexpected” was, once again, used in conjunction with additional jobless claims. With the economy in “stimulus” mode, the nation has lost more than it has gained going into 2010 mid-terms. The only thing unexpected about these claims is the continual use of the term in conjunction with monthly job losses under the Obama administration's watch.
In addition, the number of individuals receiving “emergency benefits” (extended) jumped to 4.75 million as of July 31st. Good thing they passed that "Jobs Bill".
Eventually, the Progressive mantra “tax the wealthy”, (i.e. corporations), will drum the nation into deeper penury if someone, somewhere doesn’t realize that the current taxing problem needs a bold approach – repealing every piece of legislation that has added a nickel to the corporate and individual income taxes, and instituting attractive packages for employers to get back on the hiring wagon, including busting a few unions. How many more jobs must be lost before the powers that be wake up and smell the coffee?
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