Jobless Claims Up 34K Last Week. Is the Job Market Getting Worse?

{Yes, but there's this thing going on right now called a "recession."}
Obama/Dems say the recession ended in 2009.

Let's thank Frank/Dodd for that. And Fannie & Freddie and toxic assets. People got mortgages with a credit rating of 500 and nothing down. Before, they needed a 650 and 20% down. You don't have to worry when you have nothing (except your credit rating) vested in your property. That Housing Act killed everything. People got expensive houses that they knew they couldn't afford.

Also, when the Dems came in in Jan. of 2007, they started spending like mad even though Pelosi promised not to do it - Pay-Go.

http://cnsnews.com/news/artic...
Debt Has Increased $5 Trillion Since Speaker Pelosi Vowed, ‘No New Deficit Spending’
"After years of historic deficits, this 110th Congress will commit itself to a higher standard: Pay as you go, no new deficit spending,” Pelosi said in her speech from the speaker’s podium. “Our new America will provide unlimited opportunity for future generations, not burden them with mountains of debt."
At the close of business on Jan. 4, 2007, Pelosi’s first day as speaker, the national debt was $8,670,596,242,973.04 (8.67 trillion), according to the Bureau of the Public Debt, a division of the U.S. Treasury Department. At the close of business on Oct. 22, it stood at $13,667,983,325,978.31 (13.67 trillion), an increase of 4,997,387,083,005.27 (or approximately $5 trillion).

Watch her video. It's interesting.

You can calculate it for yourself using the following link. (U.S. Treasury)
http://www.treasurydirect.gov...

Actually Dodd's thanked Tony of Country Side and Raines and "the wall Jamie Gorlek thanked Blarney the Frankfurter, so it all worked out, sorry about the busted economy, but JimNey Carter's Community Reinvestment Act did the actual damage....

Have a trained monkey to you, or untrained would be still smarter than you, read this ...

"....IBD: Carter More to Blame for Financial Crisis Than Bush or McCain.

Despite how integrally tied the current crisis is to this bill enacted by a Democrat-controlled Congress and signed into law by Jimmy Carter, no major media outlet other than Investor's Business Daily and National Review Online mentioned it during last week's market meltdown.

Going against the grain was a highly-informative editorial by IBD Thursday (emphasis added, h/t NBer Gary Hall, photo courtesy About.com):

To hear today's Democrats, you'd think all this started in the last couple years. But the crisis began much earlier. The Carter-era Community Reinvestment Act forced banks to lend to uncreditworthy borrowers, mostly in minority areas.

Age-old standards of banking prudence got thrown out the window. In their place came harsh new regulations requiring banks not only to lend to uncreditworthy borrowers, but to do so on the basis of race.

These well-intended rules were supercharged in the early 1990s by President Clinton. Despite warnings from GOP members of Congress in 1992, Clinton pushed extensive changes to the rules requiring lenders to make questionable loans. [...]

Failure to comply meant your bank might not be allowed to expand lending, add new branches or merge with other companies. Banks were given a so-called "CRA rating" that graded how diverse their lending portfolio was. [...]

In the name of diversity, banks began making huge numbers of loans that they previously would not have. They opened branches in poor areas to lift their CRA ratings.

Meanwhile, Congress gave Fannie and Freddie the go-ahead to finance it all by buying loans from banks, then repackaging and securitizing them for resale on the open market.

That's how the contagion began.

With those changes, the subprime market took off. From a mere $35 billion in loans in 1994, it soared to $1 trillion by 2008...."

Read more: http://newsbusters.org/blogs/...