I know that people really like to blame Bush for all the current woes ... but here's a few things people should take into account as well....
- Weekly jobless claims: 472,000
- that's 13,000 more than last wks claims
- predicted that there would be 2,000 fewer than week before, not a huge gain
- highest since early March
- Average: 463, ooo new claims each week in 2010
- needs to be 100,000 fewer claims to show growth in job-market
- experts say to watch for 2nd Recession, harder than the first, coming very soon (I heard to watch the markets tomorrow)
- some economic experts are predicting Depression if 2nd Recession doesn't get under control quickly
- Dow is down 9.97% in 2nd qtr (more than 1,000 pts)
- lowest closing since Nov '09
- current national debt over $13.12 Trillion
- Bust Tax cuts for the Middle class will not be renewed until after the November elections [in fact some are saying they will die on the vine]
- Marginal Income tax rates
- estate taxes
- Marriage Penalty tax
- Dividend taxes
- Child Tax Credit
- Pending Home Sales: Down 13% in May (while rebate program was still going on)
- Construction spending: Down 0.2% in May (2nd month in a row)
- Unemployment Benefits: 9 million receiving, many more off the roles but without work
- 3.3Million will fall off the roles in July as their benefits run out or they just give up looking for work
still think he's on the right track?
this doesn't even include what his 'comprehensive immigration" program will do to the economy ... I have a feeling that he is just looking at a new group to tax the crap out of.
You know how the government could be sure they got all the money they feel is due them? do away with income tax and switch to a "fed sales tax"