Sunday, May 23, 2010
Click Cartoon for Larger Size
Reports out of Washington this week say that new unemployment claims unexpectedly rose yet again, by the biggest margin in the past 3 months. An additional 25,000 people were added to the jobless rolls in just one week. Ouch!
In response, Democrats are hastily assembling a bill that Nancy Pelosi describes as "creating jobs, preventing outsourcing of jobs overseas, closing loopholes that corporations and wealthy individuals use for avoiding U.S. taxes, and meeting the needs of those who have lost their jobs through no fault of their own."
The new bill, expected to add an additional $200 Billion to the deficit, can numerically be expected to generate one fourth the number of net jobs created by the Democrats' previous $800 Billion jobs bill.
Which is to say, one fourth of none whatsoever.