The DOW Jones continued its plunge today, wiping out trillions of dollars in wealth as fears continue to grow that Europe will be unable to meet its debt burden and will default on its loan obligations. The Socialist governments of Greece, Spain, and Portugal are on the verge of collapse- further evidence that Socialism does not work. Record borrowing to finance social programs and increases in taxes on the wealthy have resulted in higher unemployment, and lower revenue for these countries. Will America learn from Europe or will this be a forbearer of what we can expect to see here in the next few years.
We have been told by Obama, Biden, and the Democrat leadership that the Stimulus Bill passed by the Democrat Congress and signed by Obama, worked. We have also been told that Obama and the Democrats have saved the economy from falling into an abyss. Knowing this, and having been told this, we can safely say that going forward any worsening of the economy or any further losses in jobs, or any increases in foreclosures are now the result of Obama and Democrat polices. Again, we were told just 3 weeks ago by this administration and the Democrats that the improvement we saw last month were a result of their polices so…
The number of people filing new claims for unemployment benefits unexpectedly rose last week by the largest amount in three months. Applications for unemployment benefits rose to 471,000 last week, up by 25,000 from the previous week, the Labor Department said Thursday. It was the first increase in five weeks and the biggest jump since a gain of 40,000 in February.
Further:
The number of bank foreclosures in the U.S. continues to increase in the month of April 2010, continuing a pattern that began in March when banks have started working on troubled loans contracts that they inevitably neglected during the second half of 2009. As banks rush the troubled mortgage issues in their books, the number of repossessed houses for April reached more than 92,000.
The April figure for repossession and foreclosure listings by state is only one percent higher than the figures recorded in March 2010; but compared with April 2009 numbers, it represents a 45% rise. Statistics showed that households facing foreclosures a year ago who were temporarily saved by government programs are now piling up to contribute to the huge increase in foreclosure rates.
Can the Progressive Socialist who have hijacked the Democrat Party explain to me what Obama and the Democrat leadership are speaking about when they say that their Stimulus Bill worked and that the economy is improving when more people are losing their jobs and more homes are being foreclosed than a year ago, and the deficit continues to rise to record levels?
We are losing this country that our founding fathers risked their lives to form and millions died to protect and yet, to liberals, what matters most to them is not the health and well-being of our country, but whether they “won” by passing an agenda that causes our country to lose. And yes, ladies and gentlemen, we are quickly losing our country. I fear we will be entering a double-dipped recession that I predicted would happen 8 months ago. We will all suffer and not because of the perceived greed of corporations or the wealthy, but because of the greed of those who demand more from government and from those who take more from government.
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