Jobless claims surge

Unexpectedly of course. I'm not even a paid economists and I could have told you uneployment is going to continue to go up. But of course Obama and Biden were out yesterday yelling about how their stimulus has saved America from recession. Which couldn't be further from the truth.

The number of U.S. workers filing new applications for unemployment insurance unexpectedly surged last week, while producer prices increased sharply in January, raising potential hurdles for the economy's recovery.

Initial claims for state jobless benefits increased 31,000 to 473,000, the Labor Department said on Thursday. Financial markets had expected them to fall slightly.

Another report from the department showed prices paid at the farm and factory gate rose a faster-than-expected 1.4 percent from December as higher gasoline prices and unusually cold temperatures helped boost energy costs.

In fact, just like under FDR, all this federal spending is putting us in a prolong recession. The stimulus didn't even give our economy a temporary boost that Obama and company said it would. It just makes things worse.

You can't run an economy off the government. It just isn't feasible. Money doesn't just grow on trees and if it did we'd just have double digit inflation...oh wait. That's what Obama is doing now, printing money we don't have and in turn we will have double digit inflation in the coming years if it doesn't come under control. Which is a beautiful way to ruin an economy.

The only way to grow an economy is through the private sector. If there is no private sector there is no money, through taxation, for the government coffers. So all the federal jobs they are creating now will be lost if there is no money to pay the employees. Unless, like I said before, they just print more and more money and cause more and more inflation.