First time jobless claims were again over 400,000 (at 409,000) last week. Second quarter productivity slid to 0.7 percent for the second quarter in a row. Tomorrow fresh unemployment numbers come out for the month of August and if I had a crystal ball I would predict they will probably remain over 9 percent.
Next week President Obama will at last address Congress and the American people about the economy. Will he finally introduce a real jobs plan that does not increase our $14 trillion national debt? Or will he give a speech that relies on the same old liberal policies that got us into this mess in the first place? President Obama has shown zero ability to think outside the liberal box – he simply refuses to take on the special interests in his party. The ball is in the President’s court, and only time will tell.