Thursday, July 31, 2008

The Republican Economy

Today's economic news....

"Economy Gains Less Than Expected" - The United States GDP grew at an annual rate of 1.9% last quarter, though economists had forecast a growth of 2.3%, due to the $140 billion in economic stimulus checks that were handed out by the Bush Administration. Now the checks are gone.

"Dollar Falls on Weak Economic Report" - Due to the worse than expected GDP growth, and an unexpectedly big rise in unemployment claims, the United States dollar dropped in value against the world's major currencies.

"Jobless Claims Surge to 5 Year High" - The number of claims for unexmployment rose to their highest levels since April, 2003.

"Stocks Mostly Decline" - After the troubling news on the economy and jobs, Wall Street took another hit.

"Foreclosure Rate Hits Historic High" - More than a quarter of a million American homes are now in foreclosure status.

"Personal Bankruptcies Rise" - The number of Americans filing personal bankruptcies rose by almost 50,000 over the same time last year.

"The Cost of Iraq War and Nation Building" - The financial cost of the War on Iraq is nearing $562,000,000,000. That's 562 BILLION DOLLARS of American education and infrastructure money.

And my favorite headline of the day...

"Exxon Posts Record $11.68 Billion Profit" - Exxon-Mobil once again broke its own record by making the largest quarterly profit in history!


Bueller said...

Really? Really?! I should stop picking on poor little oil because we are all part of oil? REALLY??? Oil is our future fuel? Oh my fucking unbelievable god.

Valerie - Still Riding said...

I'm still following along...

Hugs to you.

familyman said...

It's amazing the direction this country has taken over the last 7 and a half years.

I really hope Obama gets elected and can manage to turn things around.

He is very inspirational. And I really think that is one of the most important qualities in a President.