Thursday, August 07, 2008

Jobless Rate At It's Worst In Six Years

John McCain and George Bush are happy with the current economical climate, saying that economy is structurally sound. Despite his attempt at getting everyone to look at the world through rose-colored glasses, the reality for many Americans is not as cheery as it is for the President and others that are as ridiculously wealthy as he is. In fact, it is getting worse by the day.

From CNBC:


The Labor Department reported Thursday that new applications filed for unemployment insurance rose by a seasonally adjusted 7,000 to 455,000 for the week ending Aug. 2. The increase left claims at their highest level since late March 2002.[...]

Meanwhile, the four-week moving average of claims, which smooths out weekly fluctuations, rose to 419,500 last week, the highest since mid-July 2003.

The number of people continuing to collect unemployment benefits went up by 31,000 to 3.3 million for the week ending July 26, the most recent period for which that information is available. That was the highest since early December 2003.


With less than six months to go in his term, George could care less about the millions who are unemployed and the millions more who are under-employed. He's off to Beijing to watch the Olympics, giving a bit more credibility to the Chinese government, which is another sad excuse for a government. At least they admit to torture though, so, um, I guess that's better than us trying to hide it in unobstructed daylight?

Anyways, John McCain has less than three months before Barack Obama humiliates him at the polls. He is still signed on to Bush's economic policies and still relies on the advice of Phil Gramm, a man who thinks we should all quit whining about our economy. So as long as he sticks to that failed vision, Obama will be our next President, and help lead us from our troubled economic times caused by the last eight years of ineptitude.