Aside
from awaiting the Feds decision on QE3++++, here is some significant
news likely to be downplayed in other media who seem to be too busy
crucifying Romney for suggesting the President is a wimp.
“Initial claims for state unemployment benefits rose 15,000 to a seasonally adjusted 382,000, the highest in two months, the Labor Department said on Thursday. The prior week's figure was revised up to show 2,000 more applications than previously reported.”
Under this President everything is worse.“The Labor Department says that the producer price index, which measures price changes before they reach the consumer, jumped 1.7 percent in August. The increase was mostly because gas prices soared 13.6 percent, the biggest gain in three years.”Employers added 96,000 jobs last month, a step down from July's 141,000 count. While the unemployment rate dropped to 8.1 percent in August from 8.3 percent, it was because Americans gave up the search for work.
And in other news.
ReplyDeleteThe American Jobs Act. Republicans have been blocking President Obama’s jobs legislation for more than a year. Though House Speaker John Boehner (R-OH) promised in 2010 that a GOP Congress would focus on job creation, he has blocked this bill’s immediate infrastructure investments, tax credits for working Americans and employers, and aid to state and local governments to prevent further layoffs of teachers, firefighters, police officers, and other public safety officials.
The Repugs thought they had sucessfully blamed the economic disaster on Obama. But the polls show, even today, that the public remembers full well who was in control when the bus went off the cliff.
ReplyDeleteThe Repugs thought they could blame the jobs losses on Obama, but the public still remembers that Bush had lost 4 million jobs before Obama was even inaugurated.
No wonder Romney is losing.
If the president were interested in job creation he wouldn't have spent his political capital on obamacare. Duh. But nice try. Ok, that's not true. It's not a nice try.
ReplyDeleteVictoria,
ReplyDelete"If the President were interested in job creation he wouldn't have spent his political capital on Obamacare."
Try not to overload Iago and Bricklayer with too many facts, Victoria. Fact is beyond the typical Obamasite's comprehension.
First notice the deafening silence on inflation. Must be that 100% increase in gas prices, which of course must be due to Bush, the pre-existing Middle East situation (didn't Obama suggest if he was elected it would ease?), Solyndra's quick and unseemly demise due to the inability to obtain infinite capital resources, the inability of those pesky Cretaceous plant species to die and decay quickly enough (Oh no God forbid, that would form more fossil fuel), not to mention any and all future generations yet unborn. Well anybody, everybody, and anything other than Obama must be to blame!
And even Obama's own Dept of Labor can't hide the fact that Obama has lost jobs.
Investor's Business Daily states,
"A top White House economics spokesman cautions against reading too much into a single month of employment data — and we concur: One month isn't enough. So how about 44 months instead?"
"The only reason the jobless rate fell in August was 368,000 people left the labor force, pushing labor force participation down to a 31-year low of 63.5%. Some 23 million people either don't have jobs, are looking for full-time work or are underemployed."
Obviously, the top white house aid isn't reading enough! And,
"As IBD points out on its front page today, if the labor force participation rate had remained constant during Obama's years in office, unemployment today would be about 11.1%. Some "recovery.""
Oh, ouch!!
And apparently insufficient for economic growth according to the Fed,
"Fed Chairman Ben Bernanke, speaking last month, said the U.S. must create "150,000 to 200,000" jobs a month just to keep the unemployment rate stable. So 96,000 is really an awful number for a "recovery.""
And wow --- Ooops, the Dept of Labor weighs in,
"The White House, during its convention, repeatedly claimed to have "created" 4.5 million jobs. Leaving aside the fact that businesses, not government, create jobs, it's still factually incorrect.
According to Bureau of Labor Statistics data, payroll jobs in August totaled 133.3 million. The month Obama entered office, there were 133.561 million. So the number of jobs has shrunk."
http://news.investors.com/ibd-editorials/090712-625088-four-years-of-obama-failure-on-jobs-is-enough.htm
But then the Democrats fall back position --- its the Republicans fault? Wow and who controlled the Executive Branch and both houses of Congress in 2009 - 2010. Control for two years and no one could figure out that JOBS wasn't a three letter word, that those shovel ready JOBS really weren't quite as "shovel ready" as they initially thought; nor apparently how to create any JOBS?
Three and one half years, the Administration accepts no responsibility, no blame. Wow, where are those Harry Truman Democrats??
Simply an empty suit, an empty chair, and an empty premise --- Hope and Change wasn't it?!