The government announced this morning that new unemployment claims rose more than expected last week to 429,000. This is the 11th week in a row that the new unemployment claims were over 400,000. The Obama Administration said last year would be a “Recovery Summer.” That obviously did not pan out and America’s economic engine is stuck in reverse.
It is a sad state of affairs, when the Federal Reserve Chairman Ben Bernanke says, “We don’t have a precise read on why this slower pace of growth is persisting.” President Obama has not had a clear economic plan that would lead to a long term recovery. His solution has always been that government could fix it. Government is not the solution; we must let private industry lead us out of this economic quagmire.
The Obama Administration’s failed economic policies have not increased employment, but have increased our ever growing $14 trillion national debt. America needs bold leadership from the White House, not the same old liberal policies that have trickled out from this administration.
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