Jobs Number Means Another Cruel, Cruel Summer for Obama

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    Jun 01, 2012 4:47 PM GMT
    http://www.foxnews.com/politics/2012/06/01/jobs-number-means-another-cruel-cruel-summer-for-obama/

    “This building, this half-a-billion dollar taxpayer investment, represents a serious conflict of interest on the part of the president and his team. It’s also a symbol of how the president thinks about free enterprise. Free enterprise to the president means taking money from the taxpayers and giving it freely to his friends.”

    -- Mitt Romney at a campaign appearance outside of failed California solar-panel maker Solyndra.


    President Obama has been preparing supporters for weeks about a couple of serious setbacks to his re-election hopes that may come this month: a slackening economy and a possible defeat for his health law at the Supreme Court.

    Justices could this month deliver a stinging blow to the president if they were to strike down the central tenant of Obama’s 2010 health law: a requirement that all Americans purchase private health insurance or be enrolled in a government program.

    This would be particularly bad because without this provision, the law would urgently need to be revisited and reassert itself as a campaign issue. Obama has so far mostly focused on attacking his rival, Mitt Romney, and urging the nation “forward.” Obama has only raised the health law as an issue when looking to solidify his base, and then only on narrow principles, not the history-making entitlement it created.

    Justices later this month will render their decision on the law, and whatever they decide, it will change the trajectory of the race. The health law is the incumbent’s single-greatest liability. It led to the Democratic disaster of 2010 and still galls many independent voters for its size and the slipshod manner in which it was crafted. Mostly, though, it is so disliked because it represented a distraction from the more urgent work of righting the economy.

    Every time Obama and his advisers said he was making a hard pivot to jobs in 2010 and 2011, it was an implicit admission that his attention had been elsewhere. Not good. That the “hard pivot” consisted mostly of campaign speeches denouncing congressional Republicans didn’t help much either.

    That’s why today’s unemployment numbers are such bad news for the president. The re-litigation of Obama’s central achievement as president will come just as Americans are buckling up for another dip in the road to recovery.

    The May jobs numbers are dire. The total unemployment rate jumped to 14.8 percent from 14.5 percent in April. The narrow measure of those unemployed but still looking for work ticked up from 8.1 percent to 8.2 percent. That means that not only did the workforce shrink as discouraged workers dropped out, but that there was a net loss of jobs.

    That means that even before the really rough stuff began in Europe, the U.S. job market was already in decline. The downward revision of April’s overall economic measure (do they ever revise up?) shows that the problems in the U.S. economy are very real.

    The economy only added 115,000 jobs in March, just treading water, but causing the real unemployment rate to rise as folks fled the job market. That number was revised this morning to 77,000 jobs, meaning that the contraction had already begun. We were sinking, not treading water two months ago.

    The May number of 69,000 jobs added is a sharpening of the trend. The president today will still technically able to say that the economy has added jobs for dozens of months in a row, but it won’t really be true.

    Both April and May saw too few jobs added to keep up with population growth, meaning that we have been running a jobs deficit.

    That brings us to the other history-making act of the Obama era: the 2009 stimulus that ladled out more than $787 billion in a bid to revive the economy, then in free-fall. Romney has a tricky time talking about Obama’s health law, given his own state-level plan in Massachusetts, but he sure loves to talk about the stimulus.

    Americans largely believe that the stimulus was either bad for the economy or ineffective and with four years of deficits above $1 trillion, expensive and ineffective is not a good place to be. As this downturn continues or accelerates, watch for Romney to sharpen his attacks on Obama’s rescue effort and to let others pick up on the subject of the health law.

    This is the third June in a row that has brought unhappy economic news for a president hoping to show progress on the economy. Add in the health-law decision and you could have the makings of a very unhappy summer for the president.
  • Posted by a hidden member.
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    Jun 01, 2012 5:43 PM GMT
    Wow. Fox News, which created and aired a 4-minute attack ad against Obama thinks one jobs report equals a cruel cruel summer? Who would've seen that coming?
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    Jun 01, 2012 8:38 PM GMT
    southbeach1500 said
    Christian73 saidWow. Fox News, which created and aired a 4-minute attack ad against Obama thinks one jobs report equals a cruel cruel summer? Who would've seen that coming?


    Incorrect. It's not just one jobs report. Do educate yourself and venture out of your Rachel Maddow MSNBC bubble.
    .

    Unemployment rises to 8.2% in May as job growth stalls again

    WASHINGTON --

    The government said Friday that employers created on net just 69,000 jobs last month -- less than half of what analysts were expecting. What's more, the Labor Department revised downward the job-growth numbers for the prior two months, putting the average monthly job growth at 96,000 for the last three months



    http://www.latimes.com/business/money/la-fi-mo-economy-jobs-20120601,0,4574904.story


    I'm quite educated and understand that we're in a period of global contraction resulting from austerity policies in Europe and the slowdown of growth in China. That we have positive job growth at all is a positive sign.
  • jock_1

    Posts: 1491

    Jun 01, 2012 8:52 PM GMT
    This sucks for our country. I want to know what our President is doing to create jobs??? Another Global retraction?? Really Christian?? The unemployment rate going up is not positive employment. The true unemployment rate of near 15% is not positive.

    How come all of this news is so shocking to the White House? They were expecting job groth of about 150,000 last month which is the status quo just to sustain current unemployment numbers. Instead they were shocked by the low numbers?

    When will the liberals realize this man is not fit to be our President?
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    Jun 01, 2012 8:56 PM GMT
    jock_1 saidThis sucks for our country. I want to know what our President is doing to create jobs??? Another Global retraction?? Really Christian?? The unemployment rate going up is not positive employment. The true unemployment rate of near 15% is not positive.

    How come all of this news is so shocking to the White House? They were expecting job groth of about 150,000 last month which is the status quo just to sustain current unemployment numbers. Instead they were shocked by the low numbers?

    When will the liberals realize this man is not fit to be our President?

    The only kind of jobs he would know how to create are government jobs. What will create jobs quickly is his exit from the WH because what are causing job growth to be stagnant are over-regulations, uncertainty of Obamacare costs, and NLRB activism.
  • jock_1

    Posts: 1491

    Jun 01, 2012 8:59 PM GMT
    socalfitness said
    jock_1 saidThis sucks for our country. I want to know what our President is doing to create jobs??? Another Global retraction?? Really Christian?? The unemployment rate going up is not positive employment. The true unemployment rate of near 15% is not positive.

    How come all of this news is so shocking to the White House? They were expecting job groth of about 150,000 last month which is the status quo just to sustain current unemployment numbers. Instead they were shocked by the low numbers?

    When will the liberals realize this man is not fit to be our President?

    The only kind of jobs he would know how to create are government jobs. What will create jobs quickly is his exit from the WH because what are causing job growth to be stagnant are over-regulations, uncertainty of Obamacare costs, and NLRB activism.


    He should be re-called. My state knows how to do that.
  • Posted by a hidden member.
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    Jun 01, 2012 9:02 PM GMT
    jock_1 said
    socalfitness said
    jock_1 saidThis sucks for our country. I want to know what our President is doing to create jobs??? Another Global retraction?? Really Christian?? The unemployment rate going up is not positive employment. The true unemployment rate of near 15% is not positive.

    How come all of this news is so shocking to the White House? They were expecting job groth of about 150,000 last month which is the status quo just to sustain current unemployment numbers. Instead they were shocked by the low numbers?

    When will the liberals realize this man is not fit to be our President?

    The only kind of jobs he would know how to create are government jobs. What will create jobs quickly is his exit from the WH because what are causing job growth to be stagnant are over-regulations, uncertainty of Obamacare costs, and NLRB activism.

    He should be re-called. My state knows how to do that.

    LOL. In the old Soviet Union, someone, even leaders, who acted against what was considered the common good would be declared an enemy of the people, and dealt with.
  • DalTX

    Posts: 612

    Jun 01, 2012 9:07 PM GMT
    So Mr. 47 out of 50 is complaining?