Unemployment Claims Up And Social Security Withering On The Vine

J.J. Jackson | January 27, 2011 

For the week ending January 22nd, 2011 first time claims for unemployment jumped 51,000 to 454,000. For a couple weeks now these claims have been fluttering from 400,000 to 450,000. This signals continued weakness in the economy.

To make things worse, the CBO (Congressional Budget Office) reports Social Security is set to bring in $45 billion less this year than it pays out. Furthermore, the CBO states the program’s funds will be depleted by 2037. Last year this huge liberal boondoggle began running in the red despite repeated claims about how strong and solvent the plan was in order to quell too many questions from being asked.

Not good news. It is going to be more and more difficult to convince young workers to keep on having those taxes for SSI deducted from their paychecks as word about how there will be no money for them spreads.

Copyright © 2006-2010
J.J. Jackson is a libertarian conservative author from Pittsburgh, PA who has been writing and promoting individual liberty since 1993 and is President of Land of the Free Studios, Inc. He is the Pittsburgh Conservative Examiner for Examiner.com. He is also the owner of The Right Things - Conservative T-shirts & Gifts. His weekly commentary along with exclusives not available anywhere else can be found at LibertyReborn.com (Digital Fingerprint: libertyreborn123456789)


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One Response to “Unemployment Claims Up And Social Security Withering On The Vine”

  1. joetote on January 27th, 2011 12:47 pm

    What! How can this be?! President Dodo himself said just the other night we are in the middle of a robust recovery. Or is this once again another lie from an elitist who has his head buried up his ass and doesn’t think we are smart enough not to believe the lies!

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