We just recorded the lowest monthly total for new home sales in history. Still "proud" you voted for this Stranger in our White House ??

Editor's notes: with regard to the Obama plan for "kick starting" the economy -- nothing is working. We know that the "cash for clunkers" program went over budget by 300% and did not jump-start auto sales. According to "recovery.gov," we have disbursed $115 billion in loans, grants and contracts with only 682,000 jobs to show for that "investment." We found out last week that the mortgage recovery plan, promised to secure 7 to 9 million homeowner loans has only secured 340,000. Of the recent 435,000 jobs for last month, 411,000 were census worker jobs. We note that Obama has stopped talking about "shovel ready jobs" and has apparently settled for a "service centered" economy rather than rebuild a manufacturing base. [We wonder what will happen to his precious unions if manufacturing goes the way of the Red Chinese.] His actions in the Gulf may have very well doomed what little recovery is in the works with his freeze on off-shore drilling. And now we learn that his "first time buyer incentives" program, ending on April 30, has not stimulated that market, as well. In an article by the AP, we have this comment:

WASHINGTON (AP) -- Sales of new homes collapsed in May, sinking 33 percent to the lowest level on record as potential buyers stopped shopping for homes once they could no longer receive government tax credits.The bleak report from the Commerce Department is the first sign of how the end of federal tax credits could weigh on the nation's housing market. The credits expired April 30. That's when a new-home buyer would have had to sign a contract to qualify.

"We fear that the appetite to buy a home has disappeared alongside the tax credit," Paul Dales, U.S. economist with Capital Economics," wrote in a note. "After all, unemployment remains high, job security is low and credit conditions are tight."

New-home sales in May fell from April to a seasonally adjusted annual sales pace of 300,000, the government said Wednesday. That was the slowest sales pace on records dating back to 1963. And it's the largest monthly drop on record. Sales have now sunk 78 percent from their peak in July 2005. READ THE FULL ARTICLE HERE >>>>

Predictions: Before the coming mid-term election, expect to see higher fuel prices, perhaps $4.00 per gallon at the pump; increased food and commodity prices as the result of higher transportation costs, unemployment at 10.2 % by the November election, and a full scale mutiny within the ranks of the Democrats.

In spite of all this bad news, Obama refuses to sit behind that square thing in the Oval Office (its called a "desk") and actually get something done. He is not an administrator and with the passing of each day, proves our point over and over again.

.