Thursday, July 08, 2010

The real story on the Jobless Claims data released today.

Weekly Jobless Claims declined according to government data. Of course it did, what would you expect when people can't file for benefits because Congress didn't pass legislation to extend benefits. There are over 3 Million whose benefits are at risk without the extension over the next 30 to 45 days. And it looks like Democratic Governor Joe Manchin, of West Virginia, is more interested in his career, than appointing a replacement Senator for the passing Democratic Senator Byrd, thus allowing Republicans to continue the filibuster to avoid the passage of the extension of benefits. He may wait until November and have a special election and has asked his Attorney General to make a ruling, as to whether this is legal. Of course, he is not the only Democrat creating this problem. Senator Ben Nelson of Nebraska, a Democrat, has continually joined with the Republicans in continuing to filibuster the legislation, even though the 2 Republican women Senators from Maine, Snow and Collins, voted with the Democrats on this one.

Look, as long as the Congress denies extending the benefits of Millions of Americans, the numbers are going to look like things are getting better. They're not, let's be honest here! It's like denying a toothache, eventually it must be treated and most likely will be worse rather than better, later. It's their game, so I guess they can play it if they want. If you want to see the data, click here to go to Yahoo article on the actual numbers.

Futures are pointing up again today and Europe is up.

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