The Hill News

This Friday will mark the release of the May unemployment report. A report that will reflect the last effects of the Obama trillion-dollar stimulus and of the Federal Reserve’s quantitative easing (QE2).

The report is likely to show that job creation is mediocre at best, with unemployment insurance claims continuing well above the 400,000 weekly level, housing in a double-dip recession and the gross domestic product contracting to a paltry 1.8 percent growth rate for the second quarter of 2011.

The situation is so dire on the economic growth front that The New York Times has awoken from its slumber to opine, in a May 30 piece titled “The Numbers Are Grim,” that:

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