red states rule
08-09-2010, 05:21 AM
Pres Obama, Dems, and their supporters in the liberal media are all asking why has Obama's stimulus failed to lower unemployment?
The Summer of Recovery rolls along and more and more people spend their time in the unemployment line
U.S. employment fell for a second straight month in July as more temporary census jobs ended while private hiring rose less than expected, pointing to an anemic economic recovery.
Non-farm payrolls fell 131,000, the Labor Department said on Friday as temporary jobs to conduct the decennial census dropped by 143,000. Private employment, considered a better gauge of labor market health, rose 71,000 after increasing 31,000 in June.
In addition, the government revised payrolls for May and June to show 97,000 fewer jobs than previously reported.
Analysts polled by Reuters had forecast overall employment falling 65,000 and private-sector hiring increasing 90,000.
"We're seeing an economy that's moving ahead slowly but not creating net on balance a lot of new jobs, and it points to continued expectations the economic slowdown we've seen will probably extend another two to three months, if not longer," said Fred Dickson, chief market strategist at The Davidson Cos. in Lake Oswego, Ore.
The unemployment rate was unchanged at 9.5 percent in July, just below market expectations for a rise to 9.6 percent. The steady jobless rate largely reflected a drop in the labor force as discouraged workers gave up the search for jobs.
Job growth has taken a step back after fairly strong gains between February and April, putting in jeopardy the economy's recovery from its worst downturn since the 1930s.
Growing unease over the health of the economy is weighing on President Barack Obama's popularity and hurting the Democratic Party's prospects of keeping control of Congress in November's mid-term elections.
http://www.cnbc.com/id/38590746
But remember, the main talking point is how much wprse it would be without Obama's policies
Despite unemployment sitting at 9.5 percent and over 3 million jobs lost since this President was inaugurated, Newsweek's Howard Fineman says the economic policies enacted by Barack Obama "were good ones and smart ones and saved the day."
Chatting with MSNBC's Keith Olbermann on Friday's "Countdown," Fineman was nicely set up by the shill asking the questions.
"Does anyone -- can anyone actually believe that the Democrats had then done nothing and had maintained that status quo that the current economic situation would be better instead of worse?"
With the ball positioned nicely on the tee, Fineman chunked a drive into the water on the left
"No. I don`t think anybody can claim that, and when Barack Obama took action initially, and when he started making decisions or putting out the idea that he would make decisions even before he was inaugurated, Keith, you tend to forget, he had a firm hand there early on. He had Larry Summers advising him. They knew they were going to pump more money in with Ben Bernanke right away.
Any fair-minded observer would say in those first months, those first key months, Barack Obama`s leadership and the decisions they made, which actually had their roots with Hank Paulson and Ben Bernanke in the previous administration, were good ones and smart ones and saved the day.
You know, it`s an old American motto, an old Navy motto: Don`t just stand there. Do something. That`s practical American strategy -- and that`s what Barack Obama did in the early days, and he was rewarded with very high poll numbers at the beginning for doing that".
Read more: http://newsbusters.org/blogs/noel-sheppard/2010/08/07/howard-fineman-tells-olbermann-obamas-economic-policies-saved-day#ixzz0w6R6PlRd
The Summer of Recovery rolls along and more and more people spend their time in the unemployment line
U.S. employment fell for a second straight month in July as more temporary census jobs ended while private hiring rose less than expected, pointing to an anemic economic recovery.
Non-farm payrolls fell 131,000, the Labor Department said on Friday as temporary jobs to conduct the decennial census dropped by 143,000. Private employment, considered a better gauge of labor market health, rose 71,000 after increasing 31,000 in June.
In addition, the government revised payrolls for May and June to show 97,000 fewer jobs than previously reported.
Analysts polled by Reuters had forecast overall employment falling 65,000 and private-sector hiring increasing 90,000.
"We're seeing an economy that's moving ahead slowly but not creating net on balance a lot of new jobs, and it points to continued expectations the economic slowdown we've seen will probably extend another two to three months, if not longer," said Fred Dickson, chief market strategist at The Davidson Cos. in Lake Oswego, Ore.
The unemployment rate was unchanged at 9.5 percent in July, just below market expectations for a rise to 9.6 percent. The steady jobless rate largely reflected a drop in the labor force as discouraged workers gave up the search for jobs.
Job growth has taken a step back after fairly strong gains between February and April, putting in jeopardy the economy's recovery from its worst downturn since the 1930s.
Growing unease over the health of the economy is weighing on President Barack Obama's popularity and hurting the Democratic Party's prospects of keeping control of Congress in November's mid-term elections.
http://www.cnbc.com/id/38590746
But remember, the main talking point is how much wprse it would be without Obama's policies
Despite unemployment sitting at 9.5 percent and over 3 million jobs lost since this President was inaugurated, Newsweek's Howard Fineman says the economic policies enacted by Barack Obama "were good ones and smart ones and saved the day."
Chatting with MSNBC's Keith Olbermann on Friday's "Countdown," Fineman was nicely set up by the shill asking the questions.
"Does anyone -- can anyone actually believe that the Democrats had then done nothing and had maintained that status quo that the current economic situation would be better instead of worse?"
With the ball positioned nicely on the tee, Fineman chunked a drive into the water on the left
"No. I don`t think anybody can claim that, and when Barack Obama took action initially, and when he started making decisions or putting out the idea that he would make decisions even before he was inaugurated, Keith, you tend to forget, he had a firm hand there early on. He had Larry Summers advising him. They knew they were going to pump more money in with Ben Bernanke right away.
Any fair-minded observer would say in those first months, those first key months, Barack Obama`s leadership and the decisions they made, which actually had their roots with Hank Paulson and Ben Bernanke in the previous administration, were good ones and smart ones and saved the day.
You know, it`s an old American motto, an old Navy motto: Don`t just stand there. Do something. That`s practical American strategy -- and that`s what Barack Obama did in the early days, and he was rewarded with very high poll numbers at the beginning for doing that".
Read more: http://newsbusters.org/blogs/noel-sheppard/2010/08/07/howard-fineman-tells-olbermann-obamas-economic-policies-saved-day#ixzz0w6R6PlRd