Jobless Claim Drops: Recovery?

[caption id="attachment_3178" align="alignright" width="150" caption="Jobless Claims Drop, No Recovery"][/caption]

When I see things like politicians harping that they are being successful because the reports show that jobless claims are dropping, I usually chuckle sadly. Jobless claims are not a true indication of an economy improving, in fact in this case, its most likely people dropping off the roles because their benefits have run out and they can no longer claim them. More and more people every day are facing the reality that there are no jobs, Obama’s much vaunted stimulus program did not create any jobs, and if they do get another job, its most likely a much lower paying position, where they may not be able to meet their mortgage or rent obligations. The economy is not in recovery. A recovery is much different from this. And the sad fact is that Obama knows exactly what he needs to do in order to turn around the economy and he either a) does not do it for ideological reasons  or b) is waiting until closer to the next election so he can claim the recovery as his own and be re-elected. Either way, millions will lose their cars, homes and family, while this failed leader schmoozes, dances and golfs his way through his term.