The Bush-McCain economy (created by Bush and his economic blunders and pledged to perpetuate another four years by John McCain) has reached a new benchmark -- the highest unemployment in the last five years.
605,000 U.S. jobs have been lost just in this year alone.
84,000 jobs were lost in the month of August.
The Bush McCain energy policy has had a direct and profound effect on the quality of life in America, and John McCain and the GOP oil cartel are dead set on another four more years of record profits, as record unemployment continues to rise.
McCain pledges more tax cuts for the rich, and look at the results of these failed policies -- the rich get richer while the middle-class gets squeezed at the pump and left behind in the Bush McCain economy.
McCain also pledges to continue the aggressive foreign policy that has us up to our kneck in two foreign wars -- and we're running the nation further into debt (debt held by other nations) and shrinking the dollar further.
The jobless rate jumped to 6.1 percent in August, from 5.7 percent in July. And, employers cut payrolls for the eighth month in a row. Job losses in June and July turned out to be much deeper. The economy lost a whopping 100,000 jobs in June and another 60,000 in July, according to revised figures. Previously, the government reported job losses at 51,000 in each of those months.
The latest snapshot was worse than economists were forecasting. They were predicting payrolls would drop by around 75,000 in August and the jobless rate to tick up a notch, to 5.8 percent. The grim news comes as the race for the White House kicks into high gear. The economy's troubles are Americans' top worry.
The nation is firmly in the midst of another Republican Recession, and John McCain did not have one idea on how to fix the economy in last night's speech, not one idea.
Democrats have been warning that the Bush McCain economic policies would drive this nation into a recession, and that's exactly what's happened. All John McCain will do is continue the same failed policies for another four years. It's time for real change, not McCain shape shifting and more republican denial...
- Unemployment Rate Jumps, Recession Looms - Jan. 4, '08
With oil prices rising for many months at the same time the housing slump accelerated the possible recession was easy to spot -- unless you're a Republican and concerned about the next election, in which case you'll close your eyes and pretend the problem will just go away.
- House of Cards Economy Crashing Down - Jan., 16, '08
- Republicans say "What Recession?" and Bury their Heads in Their ... Jan, 18, '08
I've watched in amazement over the last several months as the obvious, looming recession was totally denied by the Republican politicians, as well as the right wing bloggers at our sister site Wizbang. I find it sickening when bloggers are giving bad advice just for political gain -- as often is the case with the right wing Smear-o-Sphere -- and that's what these spin-meisters have been doing - sticking their heads in the sand and pretending everything was just hunky-dory swell with the economy. So lets start with the right wing blogger BS, then move on to the Republican't candidates.
- More Signs of Recession Ahead - Feb. 1, '08
- Current Critical Megatrends - Feb 20, '08
- The Republican Recession and the Financial Press - Feb. 27, '08
- Is The Iraq War Causing The Recession? - Feb 28, '08
- Bush Administration is the Cause Behind Higher Oil Prices - June 26, '08
- The U.S. Economic Meltdown While McCain Campaigns For Free Trade Abroad - July 2, '08
- Bush Tries To Screw Us Again - July 15, '08
- McCain Adviser Calls Americans "Nation of Whiners" then Resigns July 18, '08
- CEOs, CFOs, Accountants - U.S. Economy is in a Recession - Aug. 16, '08
- Wholesale Prices: Biggest Jump in 27 Years - Aug. 19, '08
Note: Wizbang Blue is now closed and our authors have moved on. Paul Hooson can now be found at Wizbang Pop!. Please come see him there!