Unemployment rises to 8.2%
Bronx Bombers
Posts: 2,208
June 1, 2012, 9:43 AM
Republicans Assail Obama in Wake of Disappointing Jobs Report
By MICHAEL D. SHEAR
Republicans quickly seized on Friday’s disappointing jobs report as fresh evidence of what they say are President Obama’s “job-killing” policies and further proof of the need for a new occupant in the White House next year.
The United States economy added only 69,000 private sector jobs in May, the lowest amount in a year. The unemployment rate, which had been heading lower over the last several months, ticked back up to 8.2 percent from 8.1 percent a month earlier.
For Mr. Obama, who faces re-election in less than six months, the report suggests that the economic fortunes of the country are headed in a direction that will task his campaign. The sagging recovery could complicate his efforts to convince voters to give him another four years.
Mitt Romney, the presumptive Republican nominee, called the report “devastating news for American workers and American families” and mocked the president’s campaign slogan, “forward,” saying that the country has been moving backward under the president’s policies.
“This week has seen a cascade of one bad piece of economic news after another,” Mr. Romney said in a statement. “Slowing G.D.P. growth, plunging consumer confidence, an increase in unemployment claims, and now another dismal jobs report all stand as a harsh indictment of the President’s handling of the economy.”
Mr. Obama’s campaign has been trying for weeks to challenge Mr. Romney’s claim of having been a job creator during his time at Bain Capital, a private equity firm, and later as governor of Massachusetts. But the tepid job growth in the country for the last two months will likely fuel Mr. Romney’s aggressive retort about the current economic situation during Mr. Obama tenure.
Top advisers from both sides have said the economy will be the primary topic of interest during the presidential campaign. But Republicans would like to present the decision as a referendum on Mr. Obama’s record in office. The jobs report on Friday provides Mr. Romney new political ammunition in that effort.
House Speaker John A. Boehner called the economic situation in the country “the sad new normal” and blamed it on Mr. Obama. But he said Americans don’t have to accept the situation if they vote for Republicans in the fall.
“Republicans have a Plan for America’s Job Creators designed to remove the government barriers holding back economic growth and hurting job creation,” he said.
In a news conference at the Capitol Friday morning, Mr. Boehner and Republican lawmakers chastised the president and his Democratic allies in the Congress for failing to pass legislation the Republicans said would create jobs.
“It’s clear that the policies that we have seen are not working,” Mr. Boehner said. “We’ve passed over 30 bills that are sitting over in the Senate. It’s time for us to change course and have real policies that will put Americans back to work.”
Representative Eric Cantor of Virginia, the majority leader, said the jobs numbers “are pathetic” and said “I think under the right leadership we can do better.”
Mr. Obama is traveling to Minnesota on Friday afternoon where he is expected to call on Congress to pass his “to do list” of policies that would help create jobs. Asked about the trip, Mr. Boehner mocked it as a campaign trip that won’t accomplish anything.
“Instead of a campaign speech, the president might want to engage with Republicans and Democrats here on Capitol Hill,” Mr. Boehner said. “The president ought to get out of the badmitten game and get into the rugby game that’s right in front of him.”
http://thecaucus.blogs.nytimes.com/2012 ... bs-report/
Republicans Assail Obama in Wake of Disappointing Jobs Report
By MICHAEL D. SHEAR
Republicans quickly seized on Friday’s disappointing jobs report as fresh evidence of what they say are President Obama’s “job-killing” policies and further proof of the need for a new occupant in the White House next year.
The United States economy added only 69,000 private sector jobs in May, the lowest amount in a year. The unemployment rate, which had been heading lower over the last several months, ticked back up to 8.2 percent from 8.1 percent a month earlier.
For Mr. Obama, who faces re-election in less than six months, the report suggests that the economic fortunes of the country are headed in a direction that will task his campaign. The sagging recovery could complicate his efforts to convince voters to give him another four years.
Mitt Romney, the presumptive Republican nominee, called the report “devastating news for American workers and American families” and mocked the president’s campaign slogan, “forward,” saying that the country has been moving backward under the president’s policies.
“This week has seen a cascade of one bad piece of economic news after another,” Mr. Romney said in a statement. “Slowing G.D.P. growth, plunging consumer confidence, an increase in unemployment claims, and now another dismal jobs report all stand as a harsh indictment of the President’s handling of the economy.”
Mr. Obama’s campaign has been trying for weeks to challenge Mr. Romney’s claim of having been a job creator during his time at Bain Capital, a private equity firm, and later as governor of Massachusetts. But the tepid job growth in the country for the last two months will likely fuel Mr. Romney’s aggressive retort about the current economic situation during Mr. Obama tenure.
Top advisers from both sides have said the economy will be the primary topic of interest during the presidential campaign. But Republicans would like to present the decision as a referendum on Mr. Obama’s record in office. The jobs report on Friday provides Mr. Romney new political ammunition in that effort.
House Speaker John A. Boehner called the economic situation in the country “the sad new normal” and blamed it on Mr. Obama. But he said Americans don’t have to accept the situation if they vote for Republicans in the fall.
“Republicans have a Plan for America’s Job Creators designed to remove the government barriers holding back economic growth and hurting job creation,” he said.
In a news conference at the Capitol Friday morning, Mr. Boehner and Republican lawmakers chastised the president and his Democratic allies in the Congress for failing to pass legislation the Republicans said would create jobs.
“It’s clear that the policies that we have seen are not working,” Mr. Boehner said. “We’ve passed over 30 bills that are sitting over in the Senate. It’s time for us to change course and have real policies that will put Americans back to work.”
Representative Eric Cantor of Virginia, the majority leader, said the jobs numbers “are pathetic” and said “I think under the right leadership we can do better.”
Mr. Obama is traveling to Minnesota on Friday afternoon where he is expected to call on Congress to pass his “to do list” of policies that would help create jobs. Asked about the trip, Mr. Boehner mocked it as a campaign trip that won’t accomplish anything.
“Instead of a campaign speech, the president might want to engage with Republicans and Democrats here on Capitol Hill,” Mr. Boehner said. “The president ought to get out of the badmitten game and get into the rugby game that’s right in front of him.”
http://thecaucus.blogs.nytimes.com/2012 ... bs-report/
Post edited by Unknown User on
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Comments
with new growth ... getting better each day.
Bummer city
Because the unemployment rate has some issues with it during depressions, which we've discussed previously. For example, we discussed seasonality problems, we discussed the birth death model and we discussed people dropping out of the labor force... all of the above could easily make things look much rosier than they are outside of "model" land. The unemployment rate is a survey. It has flaws. Is it a useful indicator? Sure. But, in hostile times, it becomes a bit less precise a measure because of the overall economic volatility affecting seasonal adjustments - and unfortunately this new phenomenon of people exiting the labor force. Ironically, these issues that were helping the unemployment rate to decline, flipped back this past month and really hit it hard.
I'd advise anyone interested to read this for more:
http://www.zerohedge.com/news/nfp-huge- ... nt-rate-82
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"Well, you tell him that I don't talk to suckas."
That's what I'm wondering. I thought the wealthy were the 'Job Creators', not the government.
It this is true... then, can we count the jobs the 'Job Creators' are creatig in China, so we can lower the percentage?
Hail, Hail!!!
Got any more of them nifty buzz words?
Because if the gov't takes certain actions, businesses make certain REACTIONS. So, while wealthy (to use your desired euphimism) are the direct creators (or killers if you'd like), the gov't plays a major role in how they make these decisions.
So you're giving Obama and the government credit for their major role in creating the 2.3 million jobs since March, 2010?
I'm giving him credit for an 8.2% unemployment rate which is actually probably closer to 9.5% based on drop outs, etc. I don't look at things like job creation, etc. Those are politically motivated numbers that don't actually mean anything. The concept is relevant. But, the actual numbers are created solely for the purpose of political ping pong. I'm a results driven person. Tell me the bottom line. I don't really care how you describe it.
But... it is ultimately up to the Job Creators to create the jobs, right?
Like, if the government places regulations on what waste can't be dumped into a river... so, the company's reaction is to decide to move it's operations to a country that doesn't care about its water... it's the government's fault, right?
Thanx for clarifying that.
Hail, Hail!!!
We can conjur up all the evil euphimisms we want. Yes, regulations effect decisions. And, that's fine. If you care more about a seagull than drilling for oil, good for you. I personally am a Up With People!!! person. But, if its a seagull that floats your boat, have at it. But, I digress (and have tongue firmly in cheek).
You cannot stick your head in the sand and stand on principle all the time. Nobody's saying that we don't care about water (in your "example"). But, you can't say - why is everyone leaving? When they do. That's what makes the job tough. Nobody wants to go to war. Everyone wants clean water. Everyone wants lower gas prices (and lower utilization). Why do you think people go in looking youthful and come out grey?
Why do you think Obama learns the necessity of Guantanamo? Why do you think Bush made some of the decisions he made?
It's very easy to sit on the side and say - hey - Wars Suck!! No shit...... It's much more difficult to balance it all, try to make progress in an ever changing world without destroying things (Whatever things may be - innocents, economy, seagulls, water). I would not want that job. Especially with a bunch of never done anything Neil Young wannabes sitting in the gallery shooting spit balls and laughing their own way to the bank.
I don't think it's Obama's "fault" for small upticks in the unemployment rate, nor should he receive praise for nice jobs numbers per sea. Basically, my point is, like all Presidents he was handed the keys to a car already in motion. Some of that environment was favorable to his pitch at reelection 4 years later, some of it was unfavorable. Moreover, some of it is out of his control and in the hands of other parties - us, business, the Fed, etc. At the end of the day, however, I think we'd all acknowledge that he will receive blame or praise for jobs numbers - be it right or wrong. He's basically the coach or QB - he'll get blame or praise for the economy. That's what happened to Bush, Clinton, Bush Sr., etc. It's the way it works. I simply think we should be wary of these numbers being the condition on which one is graded when they paint unreasonable pictures - like the unemployment rate diving for odd reasons like I pointed out earlier in the thread - NOT because we were really in a sustained recovery. Personally, because of this, I think the numbers are much worse than they seem, but someone else may think it's better. To each his or her own.
Personally, I do think that private market is where lasting jobs are created, but government can do a lot to alter the private sector environment via taxes, regulations, etc. Further, government spending can also alter the economy and even increase GDP, yet there's a price to be paid when government spending increases (via taxes, debt and inflation). We've been blind to that. You can't mount up debt and not think it's going to bite you at some point. Stimulus and large bouts of government spending may seem to work in the short run, but in the long run it fucks us all over - we're all seeing this now.
But, keep on arguing about Romney vs. Obama in this manner. It really doesn't matter. It doesn't make us in any less of a depression. Once we come to grips with the fact that they are all Keynesians, that's when we can actually do something real to change this.
<object height="81" width="100%"> <param name="movie" value="https://player.soundcloud.com/player.swf?url=http://api.soundcloud.com/tracks/28998869"></param> <param name="allowscriptaccess" value="always"></param> <embed allowscriptaccess="always" height="81" src="https://player.soundcloud.com/player.swf?url=http://api.soundcloud.com/tracks/28998869" type="application/x-shockwave-flash" width="100%"></embed> </object> <span><a href=" - In the Fire (demo)</a> by <a href="
Hail, Hail!!!
ie:
"job creators" need "tax cuts"...
:roll:
"Well, you tell him that I don't talk to suckas."
That's passe. I think the current is that the middle class just needs the current tax rates to stay static so they have jobs in the coming year.
Unfortunately, the middle class seems to be a disappearing act these days.
-Eddie Vedder, "Smile"
:think:
http://www.washingtonpost.com/business/ ... story.html
trckle down baby. screw seagulls
hypocrites...
"Well, you tell him that I don't talk to suckas."
Not this poop again...
I'd ask you put down your Democrat pom-poms for a moment and think about this:
Congress doesn't create lasting jobs, people and businesses do.
Party composition does not matter in the above.
***Yes, I know you're going to say - that's not true - they can create lasting jobs. I'd say - umm rarely. But, fine - let's add a caveat -government can create lasting positions here or there, if they have the money. But, ummm... the US gov't does not have money right now. Moreover, even if they did, they can't nearly at the pace or magnitude the private sector can. Anyway, right now the gov't can't. The argument that the "Congress" or the "President" or the "Fed" can create lasting jobs right now is the equivalent to arguing a person who's foreclosing on his home can. All they can do is alter the incentive structure for us or business to create jobs. Right now - people and businesses are scared to invest in human capital (and other forms of capital) and they have good reason to be. Hence - weak job gains.
*****Now, feel free to pick up your pom-poms and go back to the cheer game.
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Good point, gimme. I have to admit that I've had some big disappointments with the Obama administration but the obstructions you mention have had a lot to do with holding things back from happening. It's like watching a football game where holding is legal and there are no penalties. I hope Obama gets re-elected so he gets a chance to prove himself. Beside, it sure beats the hell out of the alternatives.
-Eddie Vedder, "Smile"
But at least they lied about future events. That's politician 101.
I finally saw this today on C-Span
"The private sector is doing fine."
That was President Obama's message to the American people today. Is he really that out of touch?
This is yet another telling example of President Obama's detachment from the American people and what's really happening in America.
Maybe the President could ask the 23 million Americans who are unemployed, underemployed, or have stopped looking for work if they're "doing fine." Or maybe he can ask families whose household income dropped $4,300 if they're "doing fine." By all accounts, the American people and economy are not "doing fine."
Even under the false premise that things are fine in America, is "fine" the best we can do? Americans deserve a president who will fight to restore America's greatness. And that's exactly what Mitt Romney will do.
Donate $10 today to send a clear message to Barack Obama that Americans won't settle for anything less than greatness:
http://www.mittromney.com/donate/
Thanks,
Gail Gitcho
Communications Director
Everything's in the crapper and no one is fine!
Can I have $10 please?
If everything is being obstructed by congress I am wondering how things
http://obamaachievements.org/list
got achieved.
The fact is they didn't block everything, just some things...it would have been smart of the dems to simply make the republicans actually filibuster everything. To not try to pass something because of the threat of filibuster is sad.
What makes you think that the next 4 years of an Obama administration would look any different than the first? Unless the dems have a clear majority in both the house and senate what will be different? they (dems and rep) gave a bunch of money to banks thinking that a turn around on wall street would turn around the economy as a whole and it didn't work. New eyes on the problem might be what we need. I just wish those eyes would come from someone who is actually interested in a change to the typical federal level thinking.
It is terrifying when you are too stupid to know who is dumb
- Joe Rogan
Yeah this poop and why not you are here using pom-poms about your GOP GO AHEAD VOTE FOR ROMNEY ...