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Ear to the Ground

First-Time Jobless Claims Jump Again

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Posted on Feb 4, 2010
Flickr / edEx

Another indicator that Congress needs to get to work on the country’s pressing unemployment problem came in the form of a Labor Department report showing a spike in the number of first-time filers for unemployment benefits last week, according to The Associated Press. 

AP via The Miami Herald:

The rise is the fourth in the past five weeks. Most economists hoped that claims would resume a downward trend that was evident in the fall and early winter.

The Labor Department said Thursday that new claims for unemployment insurance rose by 8,000 to a seasonally adjusted 480,000. Wall Street economists had expected a drop to 460,000, according to Thomson Reuters.

The four-week average, which smooths fluctuations, rose for the third straight week to 468,750.

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By Rodney, February 5, 2010 at 9:35 am Link to this comment
(Unregistered commenter)

Until the Democrats get a set of balls and start using recinciliation to pass bills they won’t get anything passed or done. Republicans are hell bent on destroying Obama so that they can finish destroying the middle class and create the America of the haves and have nots. They offer us nothing but god, guns, gays, and abortion to divide us so they can finish raping the financial system to benefit the priveldge few. They refuse to support health care reform,or any help for people who are losing their jobs and homes. Frustrated Americans will vote for anybody in order to try to better their situation and that is what the Republicans are hoping for while offering us nothing. People need immediate help now. Until we see executive orders from Obama and reconcilation bills passed by the Democrats they will lose the next election because they will wind up with having done nothing but argue amongst themselves. Then the Republicans can continue to finish destroying the middle class of America,

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By liecatcher, February 4, 2010 at 3:20 pm Link to this comment

FIRST-TIME JOBLESS CLAIMS JUMP AGAIN

This should not come as a surprise since America’s
manufacturing base has been outsourced. Despite
MSM continuously calling the current cataclysmic
financial meltdown a recession, the reality is that
we the people are in deep shit, while those
responsible
give themselves obscene multimillion dollar bonuses
with borrowed money now owed by taxpayers.
However, the important thing to keep in mind when
evaluating the hype that’s supposed to be news, is,
thanks to CHRIS HEDGES’ COLUMN:
“Democracy in America Is a Useful Fiction”, the cat
is out of the bag. It’s no longer accurate to talk
about Democrats & Republicans because they are
both predatory parasites feeding on the carcass of
we the people. Bush3 continues to play good cop.
Volcker is brought in off the bench to finish the
game.

Report this

By the worm, February 4, 2010 at 12:03 pm Link to this comment

Here’s what the current Congress and President have done to make the Bush
mess worse.

Everyone believes Obama was handed a pile. Having a pile is not what has
turned the voters against Obama and the Dems. The public stopped supporting
Obama and the Dems, because Obama and the Dems did not support them.

Here are the facts about Obama and the Dems decisions:

1. Ignore previous Republican crimes, misdemeanors and profligacy in the vain
hope of ‘bipartisanship’ and establishing a precedent for future torture and
tyranny
?2. Support a stingy stimulus, half of what was needed and included one-thirds
tax breaks, increasing the deficit and further reducing the effects of the
stimulus by another one-third??
3. Kill the only option that would have slowed the cost of health care & led to
universal coverage?? (handing ‘reform’ over to Max Baucus and imaginary ‘bi-
partisanship
4. Accelerate the Bush bailout?? against the will of the American people and with
much wise advice to the contrary (from people who would not profit from the
bailouts or had already been involved in them)
5. Escalate a meaningless and fruitless war?? against all common sense and the
will of the majority of Americans
6. Gut real financial reform and substituted finger wagging and silly taxes and
‘fees??’
7. Not help people with bankruptcy and mortgages remediation, instead bailed
out the corporations that feasted on borrowers’ bones? and watched the
institutions raise fees and slow lending
8. Fiddled around, spent all our money on corporate bailouts and then called
for a ‘freeze’ – effectively, putting people last.

The above illustrates why Obama and the Dems lost the public. It’s not about
anything but really really bad decisions that took a bad situation and made it
worse by ignoring the needs of the people, giving their money to someone else
and leaving them holding the bag.

Yes, Obama got handed a pile, but he kept the same military advisors, same
financial advisors and refuse to lead in the public interest.

With respect to leading in the public interest, here’s what Obama had in his
pocket seven months ago:
The Dems continue to be aimed at the wrong target:

“A mere seven months ago (that would be around June 2009), The New York
Times/CBS poll found that 72% of Americans ‘supported a government-
administered insurance plan—something like Medicare for those under 65—
that would compete for customers with private insurers.’”

Now, if the Democrats can truly find the courage to vote for what the citizens
actually want, then they are on their way to re-election. HurraY!

(“Courage”? Is that what it takes to vote for what the citizens want? courage?
Wow, the corporations then do truly have them by the what do you call ‘ems.)

The ‘reform’ bill that no one wants is the result.

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A Progressive Journal of News and Opinion. Editor, Robert Scheer. Publisher, Zuade Kaufman.
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