Originally Posted by barryr
Thank goodness the economy is improving so much according to the left or who knows where things would be at. But keep that spending going, that'll surely bring down the debt, forget though that goes against even Economics 101.
Jobless Claims, Inflation Jump as Economy Wobbles
Published: Thursday, 18 Feb 2010 | 8:39 AM ET Text Size By: Reuters
The number of U.S. workers filing new applications for unemployment insurance unexpectedly surged last week, while producer prices increased sharply in January, raising potential hurdles for the economic recovery.
Initial claims for state unemployment benefits increased 31,000 to 473,000, the Labor Department said on Thursday. That compared to market expectations for 430,000.
Another report from the department showed prices paid at the farm and factory gate rose a faster than expected 1.4 percent from December after a 0.4 percent gain in December, as higher gasoline prices and unusually cold temperatures helped boost energy costs.
"When you have PPI moving up and still no progress in the jobs situation, that doesn't bode well for continued improvement in equity prices," said Alan Lancz, president at Alan B. Lancz & Associates in Toledo, Ohio.
This is certainly not a good sign for any of us. However, you know full well there will be down months and there will be up months. You also know full well that this time last year, the US was losing 750,000 jobs a month. The sad truth of it all is you really don't care about job loss and what a dire situation this country has been in since early 2007. All you care about is trying to save face for the absolute disaster of a President we had over the previous 8 years because it fits into your political agenda.
Really, don't lecture us about Economics 101. Bush had plenty of advisers and people in his party telling him that tax cuts during war and a time of increased spending was a bad idea and he did it anyway. Now here we are several years later and no real sign of recovery or economic growth resulting from the cuts.
Go ahead, keep focusing on trashing the current administration who has had realistically a little less than a year of policy to try and turn around a country and economy in a free fall. Or, are you so ignorant that you think the first few months of the Obama administration was his fault too?
Seriously, when are you going to ask why the frivolous tax cuts are going to do some good in this country? When are the tax cuts that favored the rich going to trickle down to the rest of us? It's been several years now and nothing but increased deficit and debt. Yet, all you can do is focus on a President and administration that has only been in office for a year.