Unemployment Claims Jump to 484,000

Liberty News

Unemployment Claims Jump to 484,000

The continuing implosion of the U.S. economy in the aftermath of unprecedented federal bailouts and unemployment programs has now brought forth a stunning loss of 484,000 jobs in a single week. What remains uncertain is when this news will penetrate the consciousness of policy makers in the White House and on Capitol Hill.

On August 6, the New York Daily News reported that Mr. Obama was still in the mode of bemoaning the slow progress of a purported economic recovery:

“Progress needs to come faster,” Obama said to a small crowd at Gelberg Signs. “Climbing out of any recession, much less a hole as deep as this one, takes some time.”

And five days later, on August 11, President Obama was claiming that the