Obama Stimulus: 36 Weeks of Record Job Losses

On Thursday, the Department of Labor issued its Weekly Unemployment Insurance Claims Report: 530,000 claims, or jobs lost, during the week ending October 24.

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Last January 9 President Obama commented on job losses during December, 2008:

Clearly the situation is dire.  It is deteriorating and it demands urgent and immediate action…the jobs report only underscores the need for us to move forward with a sense of urgency and common purpose.  Behind each and every one of those millions of jobs lost there are workers and families who are counting on us as they struggle to pay the bills or stay in their homes…

For the sake of our economy and our people, this is the moment to act, and to act without delay.

A month later Congress enacted Obama’s “stimulus” or recovery act, based on his assurance that job losses would halt immediately.  Under the act the government is borrowing $787 Billion to spend on pet priorities of the Democrat Party. Unfortunately for millions of jobless Americans the stimulus has failed.  Here are the numbers

• Weekly Unemployment Claims in December, 2008 averaged 544,000

• Weekly Unemployment Claims in September and October, 2009 averaged 538,286

President Obama and Congress have discouraged job creation by continuously threatening:

• Income tax increases on small business employers where most new jobs are created;
• New health care mandates adding to the cost of employment;
• Government imposed, artificial energy shortages;
• New taxes on energy consumption.

These are record high rates of job losses.

Last November was the first time Unemployment Claims exceeded 500,000 in a single week since 1983.  Since the stimulus passed Unemployment Claims have exceeded 500,000 every week for 36 straight weeks.