Cap & Trade Agendas Failures: Jobless Keep Rising & Persistent Layoffs; Obama/Democrats Have No Solutions to Jobs & U.S. Economic Woes:
By Marc Chamot
Polls for nationally and state elected political offices are showing Republicans getting steeper gains going into the Midterms, while President Obama’s own jobs approval ratings have dropped even further down the Richter scales.
His usual wrong side of the fences populists’ issues is hurting President Obama big time. Being on the wrong side with healthcare, Arizona’s immigration and border problems, jobs killing Cap and Trades, incompetent energy policies and lack of jobs creations are all hurting Obama and Democrats at the polls.
A new Rasmussen poll is showing the president at 42% from a higher 46% a week ago. His disapproval ratings are at its highest levels, up to 57% and practically sixty-percent of the nations aren’t happy at all, with this president’s job performance over all.
It now seems like his own base has turning against him too. That’s very bad news for Democrats looking to stay in power after the Midterms and for Obama’s re-election prospects in 2012.
But the bottom line folks, this president and his bands of Democrats, have no solutions for turning our bad jobs situations around.
It’s obvious that these Cap and Trade policies, first enacted by California and some other states, they not only are detrimental to jobs and businesses, they are killing their economies, tax bases and jobs.
Obama and Democrat’s solutions are simply pumping more declining taxpayer moneys, into a mortally bleeding open wound, which will not resolve or solve the ongoing jobless problems.
So many times I have written on my blogs about possible solutions and they still go unheard. Actually, I’m pretty bored repeating myself; I’m just sitting here, enjoying myself, while writing about it, and watching the Democratic Party comedy shows quickly developing and collapsing.
There is NO DOUBT Democrats have NO REAL open solutions to the nation’s collapsing jobs structures.
The United States is currently leading the world as the most unemployed for the past four years and which, has had the most jobs losses compared to any other nation around the world since 2006. 2006, does it ring a bell to you? That was the year when Democrats took complete control of the U.S. House and Senate from the Republicans.
I told you people that Democrats and current Republicans don’t have real fixes for American jobs woes. Democrats want to keep pushing jobs killing agendas, while Republicans sit on the sidelines, with no real solutions of their own.
Until these politicians decide to assert more control of world’s markets, those that keep flooding into our country, and protect us from cheaper foreign government subsidized products, mainly those coming from China, and then we’ll see something. When they DECIDE to protect our own markets, industries and WORKERS, from imported foreign workers and outsourcing to foreign competitions; maybe we’ll see a sea of change.
New jobless claims up sharply as layoffs persist
The number of people filing new claims for jobless benefits jumped last week after three straight declines, another sign that the pace of layoffs has not slowed.
Initial claims for jobless benefits rose by 12,000 to a seasonally adjusted 472,000, the Labor Department said Thursday. It was the highest level in a month and overshadowed a report that showed consumer prices remain essentially flat.
A rise in first-time jobless claims, combined with this week's report that said new home construction plunged in May after government incentives expired, highlighted fears about the strength of the economic rebound.
If layoffs persist, there's a concern that the June employment numbers may show a decline in private-sector jobs after five straight months of gains, said Jennifer Lee, an economist with BMO Capital Markets.
"We've definitely seen the economic recovery hit a wall," Lee said.
First-time jobless claims have hovered near 450,000 since the beginning of the year after falling steadily in the second half of 2009. That has raised concerns that hiring is lackluster and could slow the recovery.
The four-week average for unemployment claims, which smooths volatility, dipped slightly to 463,500. That's down by 3,750 from the start of January.
Kevin Logan, an economist with HSBC Securities, said many economists have been expecting claims to fall below 450,000 for several weeks now.
"The wait is getting longer and longer," said Logan. "As each week goes by, doubts about the underlying strength of the economic expansion grow."
A separate Labor report said consumer prices fell for the second straight month. The 0.2 decline in the Consumer Price Index was pulled down by falling energy prices — most notably a 5.2 percent drop in gasoline prices.
But core consumer prices, which strip out volatile energy and food, edged up 0.1 percent in May, after being flat in April. Core prices are up only 0.9 percent over the past year — below the Fed's inflation target.
Additionally, the Commerce Department said Thursday that the broadest measure of U.S. trade rose during the first quarter to the highest point in more than a year. Much of the widening deficit was due to higher prices on imported oil during the first three months of the year. Those prices have since come down.
And a private research group said its gauge of future economic activity rose 0.4 percent in May, signaling slow growth in the U.S. economy through the fall. Turmoil in stock markets and a troubled housing market weighed on the Conference Board's leading economic index, while measures related to interest rates and an increasing amount of money in the economy tugged it higher. The index is designed to forecast activity in the next three to six months.
Still, layoffs remain one of the biggest concerns for the recovery. Just this week, casino owner Wynn Resorts laid off more than 260 workers in its two Las Vegas casino hotels in a move expected to save nearly $8 million.
Economists have said they don't expect to see sustained job creation until first-time jobless claims drop below 425,000 per week.
But Julia Coronado, senior U.S. economist with BNP Paribas in New York, said she expects they will actually stabilize at around 450,000. That's because weaker segments of the economy are shedding jobs while stronger sectors are hiring.
The number of people continuing to claim benefits rose by 88,000 to 4.57 million. That doesn't include about 5.2 million people who receive extended benefits paid for by the federal government.
Congress has added 73 weeks of extra benefits on top of the 26 weeks typically provided by states. All told, about 9.7 million people received unemployment insurance in the week ending May 29, the most recent data available.
The extended benefit program expired this month. The House has approved an extension of the benefits through November. The Senate has yet to act.
On Wednesday, Senate Republicans and a dozen Democratic defectors rejected a catchall measure combining jobless aid for the long-term unemployed, aid to cash-strapped state governments and the renewal of dozens of popular tax breaks. Despite the loss, Democratic leaders predicted that a scaled-back version of the measure could pass, possibly later this week.
Adding to worries about the job market, the Labor Department said earlier this month that the economy generated only 41,000 private-sector jobs in May. That was down from 218,000 in April.
Temporary hiring by the Census Bureau added another 411,000 jobs. The unemployment rate fell to 9.7 percent from 9.9 percent.
