Obama’s Summer OF NO Recovery

Socialist Barack Hussein Obama has been on his “Summer of Recovery” for months wasting tax dollars lying to America that the economy is getting better.  Employers are laying off workers again as the economic recovery weakens. The number of people applying for unemployment benefits reached the half-million mark last week for the first time since November.

Initial claims rose by 12,000 last week to 500,000, the Labor Department said Thursday.  It was the third straight week that first-time jobless claims rose. The upward trend suggests the private sector may report a net loss of jobs in August for the first time this year.

"The rise in initial jobless claims over the past three weeks makes it difficult to maintain confidence in the recovery and suggests the labor market is backtracking more than we first expected," Ryan Sweet, an economist at Moody's Analytics, wrote in a note to clients.

Still Obama has been jetting across America between vacations telling us that this is the “Summer of Recovery.”  Where is the recovery?  There is NO recovery on main street America.  The truth is this is the “Summer of NO Recovery” in America.

As some proof that Obama and his stimulus package have been a failure look at some headlines from around the world.

UK economy shows signs of strength…. LONDON – Surprisingly strong British retail sales and a further reduction in Britain's big budget deficit last month are giving rise to hope that the country's sputtering economy can maintain growth into the second half of the year.

Levis launches new global brand, aimed at China...SHANGHAI – Jeans maker Levi Strauss & Co. launched a new global brand in China on Wednesday, joining a growing list of companies that hope to crack this fast-growing and youthful market by tailoring their products to Chinese tastes.

Here is more proof Obama is destroying America.  There were 422,061 bankruptcy filings between April and June, according to the Administrative Office of the U.S. Courts, up 9 percent from 388,148 in the prior three-month period, and up 11 percent from 381,073 a year earlier.

For the year ended June 30, there were 1.57 million bankruptcies, up 20 percent from 1.31 million a year earlier. Consumer bankruptcies rose 21 percent to 1.51 million, and business bankruptcies rose 9 percent to 59,608.

Election 2010 is in 74 days.  Elections do matter.  Comment here and email us at YourVoice@speaknowamerica.org.

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