Ur Union of Unemployed (UCubed) today cited the unexpected 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 UCubed. “The pace of job losses is increasing, and Secretary Geithner doesn’t have a clue how to end this Grave Recession.”
“A year from now, growth will be stronger. Unemployment will be lower,” Geithner told Diane Sawyer in September 2009. “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.”