Jobless Number Spin
That was all part of a warning I gave you to get ready getting into this year now, 2012, and the economic news is all going to be reported as great and good; that Obama’s policies are finally taking root now. “The economy was so much worse than anybody knew! Bush, Cheney had lied to the Obama transition team.” This is the story. “They had not been honest and forthcoming with just how rotten the economy was, so Obama didn’t deal appropriately. His policies were not powerful enough, but now they’ve been in place long enough and they’re finally starting to take hold.” This is going to lead into the argument that we shouldn’t change horses in the middle of the stream, and so right off the bat — as predictable as the sun coming up — here is this from the AP.
Christopher Rugaber: “The number of people seeking unemployment benefits fell further last week, ending the year on a three-month run of declines that point to stronger hiring in 2012.” Weekly applications dropped by 15,000…” CNBC has a story about this over-the-top how wonderful this is. We are back, folks! We’re back! Now, the question we all need to ask ourselves is this: What did Obama do to create these jobs? What Obama policy? We know what Reagan did. We know what the Reagan policies of the eighties did. What has Obama done? What Obama policies have been put into place recently to create all these jobs?
The answer is “nothing,” and the answer is that we are still in horrible shape in the job market because we have reduced the universe of available jobs, and in typical AP fashion they neglect to mention that last week’s new unemployment claims number was actually up by a whopping 21,000. Last week, holiday week, nobody pays much attention. Do you know that application for unemployment went up by 21,000? It’s not a three-week run, it’s not a three-month run. That terrible news got practically no attention last week since it was reported over the Christmas holidays. So it’s all smoke and mirrors, exactly as predicted. Dishonesty on parade from the State-Controlled Media.