Surprise Rise in Jobless Claims Stokes Recovery Worries

A synopses of the Obama economy by Instapundit. The bottom line: Economy is in bad shape and getting worse thanks to the Obama agenda.

July 1, 2010

UNEXPECTEDLY! Surprise Rise in Jobless Claims Stokes Recovery Worries. “New claims for state unemployment aid unexpectedly rose last week, heightening fears the U.S. economic recovery is stalling.” Those darn expectations.

And it’s Obama’s fault: “Obama has sought to remake America into a social democracy — like Germany or France — with a larger public sector, expanded entitlements, stronger labor unions and a changed political structure. He’s doing quite well so far. ” With France’s unemployment levels.

UPDATE:

Down periscope! Pending Sales of Existing U.S. Homes Fell 30% in May on Tax Credit’s End.

ISM Index of Manufacturing in U.S. Decreased to 56.2 in June.

Treasury Yield Curve Flattest Since September as Jobless Claims Increase.

Construction Spending in U.S. Falls for First Time in 3 Months.

“Recovery summer!” If you were trying to kill private sector growth, you couldn’t do much better than the Obama Administration has done.

Source: Instapundit)