The eight states that set records are: California, Nevada, North Carolina, Oregon, Rhode Island, South Carolina, Florida and Georgia.
Michigan’s unemployment rate rose to 14.1 percent. Read More
Obama said not long ago that we would not see unemployment-rates higher than 9 percent! What happen Obama, didn’t know what you were talking about? Obama your spending spree did not help jobs now did it?
(1) Housing Market Disaster Worsens
The brief moment of hope that housing had hit a bottom and that both the rate of home sales and prices would improve is slipping away. The pressures that will push prices down, by another 20% in some markets, are rising interest rates and an unemployment rate that will almost certainly go over 10% and stay there for several quarters.
Caterpillar Inc. of Illinois on Tuesday announced nearly 2,400 layoffs despite President Obama using his home state’s company as an example of a struggling manufacturer that would benefit from his economic stimulus plan and save jobs.
The new round of job cuts will span five plants in Illinois, Indiana and Georgia, and follows the January news that Caterpillar would slash 22,000 people from its 112,000-person workforce.
Mr. Obama hosted an event in support of his stimulus plan at the company’s Peoria, Ill., headquarters in mid-February, saying the $787 billion stimulus would be “a major step forward on our path to economic recovery.” Read More
Obama spending billions of tax payers money and the economy is getting worst. He can not seem to understand that we can not spend our self out of this crisis!
State governors — looking down the gun barrel of long-term spending forced on them by the Obama “stimulus” plan — are saying they will refuse to take the money. This is a Constitutional confrontation between the federal government and the states unlike any in our time.
In the first five weeks of his presidency, Barack Obama has acted so rashly that at least 11 states have decided that his brand of “hope” equates to an intolerable expansion of the federal government’s authority over the states. These states — Washington, New Hampshire, Arizona, Montana, Michigan, Missouri, Oklahoma, California, Georgia, South Carolina, and Texas — have passed resolutions reminding Obama that the 10th Amendment protects the rights of the states, which are the rights of the people, by limiting the power of the federal government. These resolutions call on Obama to “cease and desist” from his reckless government expansion and also indicate that federal laws and regulations implemented in violation of the 10th Amendment can be nullified by the states. Read More
The States are getting serious about Obama’s big time spending!