Unemployment, Gas Prices, Economy, Bin-Laden & Obama

Posted: May 5, 2011 in America, Economy

Not too long ago, about a month ago I believe, the hoorays on unemployment numbers were being shouted. Of course anyone with a clue knows those numbers are subjective, nor accurate.. the proof is being revealed now.

AP News article notes the surge in people applying for unemployment last week, was the “highest level in 8 months”.

So does this, will this, cast a shadow on the bin-laden killing? I also was reviewing the approval ratings for Obama, which took time to verify any impact, after the bin-laden killing.

Presidential Approval Index rating of -9 (see trends).

This is just a two-point improvement since bin Laden’s death, but it is the president’s best Approval Index rating in nearly three months. Some polls are suggesting a big bounce for the president from the bin Laden news, but those are generally comparing the president’s current numbers with results from about a month ago. Compared to a month ago, Rasmussen Reports polling shows that the president’s Approval Index rating has improved by seven points. Most of the gains occurred in the week before bin Laden’s death.

Here is Obama’s approval for May, so far…  note: Osama bin Mohammed bin Awad bin Laden (March 10, 1957 – May 2, 2011) You can see his approval improved after bin-laden’s death, today being the true determining number, not necessarily May 2nd, 3rd or 4th. The total that approved and disapproved was split evenly on the 2nd, and today the strongly disapproval has moved over to the general disapproval.

 Date    Presidential Approval Index    Strongly Approve    Strongly Disapprove    Total Approve    Total Disapprove  
5/5/2011 -9 26% 35% 49% 50%
5/4/2011 -13 24% 37% 48% 51%
5/3/2011 -10 26% 36% 49% 50%
5/2/2011 -12 25% 37% 49% 49%
5/1/2011 -11 26% 37% 50% 49%

A lot of people expected the bin-laden killing would be a boost for Obama. I had/have several other thoughts on that. One I do suspect more is going on, always have/always will. Look at the timing of some recent events.. Obama announced he will run for 2012, he finally revealed his birth certificate not because America had asked for it (since before he entered the White House) but because of a few weeks of pressure by Trump. I also wonder about Trump, former Democrat, who conveniently turned Republican to run against Obama in 2012. Trump who is a show-man, competing with another showman. Then we suddenly, finally, find and kill bin-laden. But Obama refuses to reveal kill shot images… So there is a lot of dirty stuff going on. The insignificant bump in approval shows odds are most of America feels the same way.

I did have concern that it would be a boost for Obama, but also over a year before election day, he still has time to remind people that he really is the wrong choice for this country. The economy sure is doing what it can to remind us of that.

Back to the AP unemployment article. The note that for 4 consistent weeks, they have seen the unemployment applications building. The government will be releasing the April jobs report on Friday.

Possible Reasons, noted in the AP article:

  • Gas prices.
  • NY schools laying off 25k people.
  • Japan earthquake, auto-companies slowing production or shut downs due to parts shortages.
  • Higher gas & food prices, requiring people to seek additional jobs to make ends meet.
  • Manufacturing & Business, suffering with higher material costs, reducing profit, which results in cutting back on hiring.

On About.com talks about the unemployment numbers. They start with the monthly rates in 2008, I am highlighting December to December:

  • December 2007 = 5%
  • December 2008 = 7.2%
  • December 2009 = 10%
  • December 2010= 9.5%

While a 1/2 percent is still an improvement, the reality is a lot of people just stepped off the job search.. and those numbers will be in constant flux. The reality between 2007 & 2009 the unemployment rate doubled! That is a hard thing to climb down from. It is even harder when the government makes it nearly impossible for any business to afford to hire, or build their business. When the “rich” are being threatened with more taxes, when everyone is already pinched to cover the looming shadow of Obamacare to be, when the government is burning through money and what is the result? when the government was busy bailing out automakers and created the housing market collapse. The deck of cards that the government created and kept blowing on, that is the problem and will remain to be the problem until we can burst their bubble and reduce them to a controllable size.

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