Speaker Pelosi Knows So Much That Isn't So

Well, House Speaker Nancy Pelosi shoveled some more coal into the engine of the Democrat crazy train yesterday. In a news conference Pelosi claimed federally funded unemployment benefits spur job creation faster than any other initiative. According to Pelosi unemployment benefits inject demand into the economy.



Uh... What? The four-week average for unemployment claims now stands at its highest point since March. By Pelosi logic that means we should be seeing commensurately high levels of job creation--and yet employers are projected to have cut a net total of 110,000 jobs in the month of June. And all that demand being injected into the economy by unemployment benefits? Well, check out the Financial Times article "Fears Mount Over Slowing Global Demand" for the stark reality on that.

Pelosi's absurd pronouncements remind me of Muhammed Saeed al-Sahaf--better known as "Comical Ali" or "Baghdad Bob"--the former Iraqi Information Minister who entertained the world with his wacky and undeniably bogus claims about the progress of the American-led coalition forces during the 2003 invasion of Iraq. Pelosi is one more sloshed night at a ritzy fundraiser away from putting on a beret and proclaiming “We are at peak employment. There are no Americans without jobs in the United States! There is, in fact, by the grace of Obama a job surplus!”

Just because the Democrats have decided that the laws of the land no longer apply and that they don’t need to pass a budget doesn’t mean the laws of reality no longer apply. Unemployment benefits do not create jobs, and they do not spur economic growth. Our distressed economy is a case in point.

A parting thought on Speaker Pelosi and her toadies in the House like Congresswoman Mary Jo Kilroy who votes in tandem with Pelosi 98.4% of the time: Who’s more foolish the fool or the fools who follow her?