July 2, 2009


New unemployment numbers from June were released today, and they were not good. The national unemployment rate is now at a staggering 9.5%. Many states have jobless rates even higher than that, into the double digits, and the national rate is at a 26 year high.
This, despite:
The $787 TRILLION economic "stimulus"
Over $80 billion and climbing for a bailout of the auto industry
The Half-TRILLION omnibus spending bill
Hundreds of billions for bailouts of the insurance industry
Tens of billions for bailouts of the banks
Tens of billions for bailouts of the mortgage industry
And yet: here we are, with 9.5% unemployment and rising; home foreclosures at record highs; and industries still in collapse.
None of it has worked. Not a single, massive spending initiative has worked.
A jobless recovery? I don't even see much of a recovery---jobless or not---at all.
All of this government intervention was for nothing: except an excuse for a massive power grab for the Democrats.
Republicans: start your engines.

No comments:

Post a Comment