I don’t think I’ve witnessed a more horrific kickoff to a “presidency” than what is currently unfolding with buffoon Joe Biden.
If we had an honest media, they would be reporting on all of the epic failures this incompetent doofus is responsible for.
And there’s a laundry list.
Joe won’t be sending out those $2k checks he promised – honestly, Americans will be lucky if they get $14o0 – and remember when Biden said those checks would be going out on “day one?”
Well, day one has come and gone, and nobody has a check.
But it gets worse – gas prices and unemployment are soaring, thanks in part to Biden’s stupid decision to cancel the Keystone Pipeline.
And speaking of unemployment – Biden is now in some really, really hot water when it comes to jobless Americans.
The unemployment numbers are worse than predicted.
This is likely Biden’s worst blow yet.
But it’s just another failure stacked ontop of a growing pile of them.
New weekly jobless claims unexpectedly rose by 13,000 to 861,000 in the week that ended February 13, the Department of Labor said Thursday.
Economists had expected claims to fall to 768,00 from the 793,000 initially reported for the prior week. The previous week’s figure was revised up by 55,000 to 848,000.
Jobless claims can be volatile week to week so economists like to look at the four-week average. This fell to 833,250, 3,500 below the prior week’s average.
Jobless claims—which are a proxy for layoffs—remain at extremely high levels. Prior to the pandemic, the highest level of claims was 695,000 hit in October of 1982. In March of 2009, at the depths of the financial crisis recession, jobless claims peaked at 665,000.
Even when the economy is creating a lot of demand for workers, many businesses will shed employees as they adjust to market conditions. But in a high-pressure labor market, those employees quickly find jobs and many never show up on the employment rolls. What appears to be happening now is that many workers who lose their jobs cannot quickly find replacement work and are forced to apply for benefits.
Claims hit a record 6.87 million for the week of March 27, more than ten times the previous record. Through spring and early summer, each subsequent week had seen claims decline. But in late July, the labor market appeared to stall and claims hovered around one million throughout August, a level so high it was never recorded before the pandemic struck. Claims moved down again in September and had made slow, if steady, progress until the election.
I have a feeling that Joe Biden will go down as the worst “jobs president” in history – after all, his boss Obama sure was.
And sadly, the American people will suffer most. Joe will still be filthy rich and so will his family, so what does he care?
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