The Labor Department reports the number of Americans Filing for first-time unemployment benefits fell to 292,000 last week from 323,000 the week prior, sharply lower than economists’ expectations that the number would rise to 330,000. It was the lowest level since April 2006, but don’t go and pop the cork just yet.
AEI’s latest Public Opinion Study, now available as an ebook! “Five Years After the Crash: What Americans Think about Wall Street, Banks, Business, and Free Enterprise” examines public opinion in the immediate aftermath of the 2008 crash and in the years since.
The Labor Department reports the U.S. economy added 169,000 jobs in August, missing economists’ expectations of 180,000. The jobless rate fell to 7.3%, the lowest since December 2008, and less than estimates that it would hold steady at 7.4%.
The private sector added 176,000 jobs in August, according to the ADP jobs report from the payroll processor. The number missed expectations of 180,000.
U.S. economic growth unexpectedly accelerated in the second quarter, economic news that could bring the Federal Reserve a step closer to cutting back its monetary stimulus. The news comes on the heels of a report that found that 4 in 5 Americans have been experiencing some level of poverty, and white populations suffering more than ever.
After reviewing the latest economic news and the Oxford study conducted on the poverty level, I think that the only appropriate responses are as follows. Congratulations! You ignorant liberals who vote based on envious idle-minded delusions of “fair” collectivist societies have been living in an alternate reality. But now it is time to wake up, that is if it’s not too late, because your allergy to truth and reason has destroyed the middle-class.
We Ask America has conducted a poll in Michigan gauging Michigan voters’ approval of Gov. Rick Snyder and his decision to file bankruptcy. I was especially interested in a study in Michigan, and I hope to analyze others, because I am an avid believer in an average of polls approach.
Contrary to the endless columns blaming the “model cities” initiative for the Detroit bankruptcy, in reality, secular progressives manufactured the conditions that could only have led to this bankruptcy long before the idea was ever conceived. To be sure, the “model cities” initiative accelerated and exacerbated the failures of progressivism in Detroit, and is a real-life manifestation of the failures of theoretical progressivism, but something much more fundamental and sinister has been at play for over a hundred years.
Economist Arthur Brooks appeared on Fox Business to discuss the typical consequences of policies that have the stated goal of helping the low-income class of workers. As usual, as we have seen with Obamacare in recent weeks, the actual result is always negative, despite claims to the contrary.
The Detroit bankruptcy is the inevitable byproduct of liberalism and, if the GOP had half a brain, they would be plastering this message all over national television. Detroit filed for the largest municipal bankruptcy in U.S. history Thursday after steep population and tax base declines sent it plummeting toward insolvency.