Washington State Sets New Record!

In his first major interview with the 'hated' Fox News, President Obama is now saying that we WILL HAVE A DOUBLE DIP RECESSION! 

In a continuing deterioration of the economy in Washington State the latest numbers coming in for October show a major monthly increase in unemployment statewide. Seasonably adjusted the U3 number came in at 9.3% unemployed or 331,000. U3 is the number of folks who have filed and are collecting unemployment benefits. The U6 number of 604,871 people out of work is that U3 number combined with those whose benefits have expired or have given up trying to find a job in the first place.

Just to give you an idea of how bad things are. King County now has 97,830 people collecting unemployment with an out of work total of 179,917 people. In battered Snohomish County it has now set an ALL TIME record for the number of people out of work 70,000 with almost 40,000 still collecting unemployment benefits. The Metro Seattle, Bellevue, and Everett totals really tell the story: 138,000 collecting benefits while a grand total of 256,233 are out of work.

What really is amazing is the story coming out of Washington, DC today that the Obama Administration is attempting to pass out false information about how many jobs the so-called stimulus plan has saved or created. Obama is apparently inventing stats for Congressional Districts that don’t exist. I talked to a leading Democrat this AM about this story and his response is that he thinks that the Obama Administration is losing it over the unemployment numbers because they know that it spells political doom for Democrats in the 2010 Congressional elections.

I also received information late yesterday that the Washington State Budget situation is far worse than the $2 Billion dollar shortfall the “bought and paid for” media is reporting in the state. The story in the Everett Herald, I am told, is off by at least 1.5 Billion. That means the problem is really about 3.5 Billion dollars. That doesn’t surprise the observers that I have talked to given the Retail Sales Numbers the state is seeing.

IN addition to everything else, foreclosures continue to accelerate in many of the areas. I reported on Snohomish County some time ago. Clearly this is a major disaster for the state and Western Washington in particular. This many people being impacted is the story you will not see the bubble, air head newsies on the Seattle TV stations report or read in the Newspapers purchased by the Washington State Democratic Party with a 40% tax reduction in the last legislative session, and for good reason.