Stats just released by the Labor Department show that the jobless rate has shot up to 8.9 percent - the highest it has been in over 25 years.
On the flipside, the department also released figures showing that the month of April showed fewer job losses than in any month since October. That's progress, right? Not exactly.
Over at Hot Air, Ed Morrissey reveals that the reduced job-loss rate was a result of Obama directing stimulous money to hire 72,000 workers, mostly for "temporary Census jobs."
Once those jobs dissipate--and being temporary, they will--we'll be back to square one.
I have no doubt that Obama's intentions are noble, but his methods are tried-and-untrue. And, it's the results of his skewed tax and spend tactics, not his motives, that are affecting ordinary Americans.
An interesting write-up over at the New York Daily News, sheds some light on Obama's bound-for-failure financial policies:
It is no surprise that President Obama supports unprecedented spending and borrowing in the federal budget since he has never suffered any consequences from the excessive spending and borrowing in his private life.Like most of you, I’m no longer shocked when stories of Obama’s personal hypocrisy surface – as they always do. (I’m less shocked not because he’s a Democrat but because he’s a person, and it often just goes with the territory, rather like breathing and avoiding family reunions like the plague.)
But this time it isn't about Obama's hypocrisy but his consistency. He's attempting to handle the country's finances as he did his own—by relying on increased spending and borrowing.
One blogger, with a funny name, writes:
"Obama showed in his personal life that he doesn't have even a vague understanding of money. He showed that the desire for pretty ponies and cool shoes outweighs a prudent view of current income, reasonable debt, and required savings and investment. This personal defect is borne out in his public policy to our detriment."Of course, it was a book deal that eventually saved the Obamas from financial chaos. Maybe that will work for America, too. The book could center on how his stimulous bill has stimulated nothing except the demise of the free market. We could call it, The Audacity of the Obama Presidency: Thoughts on Ruining the American Dream.
Update: Sundries Shack has more on the Obama’s “rags” to riches story, which stars the First Lady, or as she is more properly known, a "rich woman playing at being working class."
Update 2: Well, that was short-lived: It seems that President Obama IS a Hypocrite, After All.