According to the Department of Labor, although claims for unemployment decreased in the week ending April 14, the 4-week moving average was 374,750–up 5,500 from the previous week’s revised average of 369,250.
This means that the economy is not improving, despite administration claims that it is. In Standard & Poor’s 500-stock index, the number of firms that provided earnings guidance to investors in March was 27, which was the lowest ever for the month of March and the second-lowest of any month since 2000. This means that companies are nervous about their future earnings.
But the media continues to trumpet their calls of triumph for the Obama economy, despite the loosened money policy that creates an artificially inflated market. CBS, one of the arms of the vast left-wing conspiracy, hilariously titled a piece on the economy, “Economic outlook dim, but improving.” NBC, not to be outdone, had Matt Lauer say to Sarah Palin, “Some people would say if things seem to get better, or be getting better, why would I take that chance and change the person in the White House?” And ABC? How’s this? George Stephanopolous, in March, “The economy has added more jobs than expected in each of the past three months…” And just whose expectations was he referring to?
Meanwhile, the battle between Mitt Romney and Obama is heating up over the issue. Romney said on Wednesday, “Obama is over his head and swimming in the wrong direction … even if you like Barack Obama, we can’t afford Barack Obama … You’re not going to see President Obama standing alongside Greek columns. He’s not going to want to remind anyone of Greece, because he’s put us on a road to become more like Greece.”
Obama, running away from his record and still blaming former President Bush even after being in office for three and a half years, whined that during Bush’s administration, there was “the slowest job growth in half a century … and we’ve spent the last three and a half years cleaning up after that mess.”
Obama still won’t grow up, and neither will the MSM that protects him.