Washington, D.C., August 20, 2010 – Ur Union of Unemployed (UCubed) today cited this week’s sharp rise in new unemployment claims as further proof that the nation can no longer afford the economic stewardship of U.S. Treasury Secretary Timothy Geithner.
“Another 500,000 Americans applied for unemployment last week,” said Rick Sloan, Acting Executive Director of Ur Union of Unemployed. “The pace of job losses is increasing, and Secretary Geithner doesn’t have a clue how to end this Grave Recession.”
In September of 2009, Geithner told ABC News’s Diane Sawyer: “A year from now, growth will be stronger. Unemployment will be lower. It will be easier to find a job. Incomes will be growing more rapidly. People will be able to be more confident in the value of their savings. They'll be more likely to put their kids through college.”
“Geithner was delusional then and he’s even worse now,” said Sloan, who noted that just three weeks ago, Geithner declared the American economy was “on a firmer foundation for future growth.”
“If you’re feeling a sinking sensation in the pit of your stomach, it’s because Geithner’s ‘firmer foundation’ was laid on quicksand,” claimed Sloan. “Jobs are the bedrock of any sustained recovery. And we won’t see impressive job growth until Geithner resigns.”
Ur Union of Unemployed, or UCubed, is a community service project of the International Association of Machinists and Aerospace Workers (IAM) designed to assist the millions of unemployed and underemployed Americans, and to provide them with a structure that allows them to take advantage of their growing numbers. For more information, visit Ur Union of Unemployed.
