houseComing in the immediate aftermath of news that the sale of new homes dropped in January to its lowest point in 50 years, and that existing home sales hit a seven-month low, other economic indicators are offering further confirmation that prospects for the U.S. economy are dismal, at best.

As President Barack Obama’s jobless “recovery” is showing more and more signs of being no recovery at all, the Senate has voted another $15 billion to continuing pursuing their addiction to stimulus, and there are prospects that another $100 billion will be following shortly.

There are further signs that Barrack Obama’s jobless “recovery” is, in fact, no recovery at all. The latest indication of the fundamental unsoundness of the American economy is found in statistics from the Commerce Department. According to that department, the sale of new homes plummeted in January to the lowest rate recorded in fifty years. As The Washington Post reports:

Just when the headline news about the economy was beginning to look good and the talking heads were beginning to sound good, along came a barrage of bad news that was so bad that it couldn’t be covered up. Gallup began with the news that in January nearly 20 percent of the U.S. workforce “lacked adequate employment”, which was worse than the numbers reported by the Labor Department. According to Reuters, these “findings appear to paint a darker employment picture than official U.S. data,” with about 30 million Americans “underemployed.” And Gallup misses the mark by at least 2 percent, according to John Williams of ShadowStats.com. 

unemployedThe New York Times is now reporting what many Americans have figured out already: The Obama “recovery”) is a jobless recovery, leaving millions of Americans lacking the one thing that concerned them the most.

Log in