Americans Realize Obama Killing Economic Hopes

Whatever President NerObama says about the economy on his pre-vacation photo-op stops around the country, the fact that he's killing the economy, is killing him. An AP national poll released Thursday reports that 61% of Americans responding saw the economy having gotten worse, or not improved at all, with Obama in office.

The steady rise of new unemployment claims over the past three months shows employers, seeing the new phase of the crash, going into a new phase of getting rid of their workforces. 500,000 Americans filed for unemployment in the week ending Aug. 14, a "deep recession" level which was up another 12,000 from previous week's revised (up) 488,000. The four-week average jumped another 8,000 to 482,500/week. Three months ago new weekly claims briefly fell below 400,000, then started a relentless climb. The number of unemployed on state or Federal extended benefits has gone back above 9 million, but is still 2 million below where it was in the Spring, showing the increasing length of time people are unemployed, and the increasing number exhausting their benefits. The average length of time unemployed is now 34 weeks — 8 months, enough downtime to lose house, car, credit, "employability," etc. One out of 10 mortgaged households is now 90-plus days overdue — foreclosure territory.

The Federal Reserve, launching a new hyperinflationary money-printing policy, has published two dismal reports on shrinking regional economies this week, from the New York and Philadelphia Fed banks. The Philly Fed book released today admits that the economy is contracting in the mid-Atlantic region, total employment and hours of work are falling in August, along with shipments, new orders, prices paid and prices received for goods.

So much the latest crazy line NerObama tried out in Ohio: "A lot of it's sort of like recovering from an illness. You get a little bit stronger each day and you take a few more steps each day." Into the grave. His approval rating on handling the economy is at 40% in the AP poll.