On Wednesday, the Commerce Department announced that durable goods orders dropped 3.6 percent, worse than economists’ expectations for a 2.2 percent fall. They also announced that driven by the lack of buyers, the price of new homes continued to deflate. Thursday, it was announced that weekly first-time unemployment claims rose to 424,000 (in February that number was 375,000 — lower, but still very high).
If you believe Congressman James Clyburn (D-SC), corporations stopped buying durable goods, home buyers put their plans on hold, and people quit their jobs on purpose — all to make the president look bad. Why would they want to do that?
Racism of course.
Clyburn didn’t say it directly, but he certainly implied as much in this interview with McClatchy Newspapers. The House minority whip declared the cause of President Obama’s problems is racism.
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