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God, please, I'm sick of hearing about how great Clinton was. Clinton was the one who signed some of the most destructive legislation into law. He sang the praises of guys like Greenspan and was all too quick to ride the wave of explosive investment. He's not a whole lot better than Reagan or W. Bush, if you ask me. Like others, he left Obama to clean up the mess. He just gets credit for the great economy of the 1990s, in the same way Reagan gets credit for the collapse of the Soviet Union. Neither credit is deserved.
In spite of the fact that conservatives hated Clinton and shamelessly tried to overturn the previous election by force of some legislative conspiracy, the truth is that Clinton was probably the one president who has been truest to conservative economic ideals in the last 50 years. He raised taxes on the highest income earners, but he also cut taxes for most of the middle class. He cut capital gains. He basically gave the wink and nod to deregulation. He allowed banks to become super financial institutions. He retained Greenspan, a proponent of free-wheeling and dealing capitalism. He also signed GATT/WTO and NAFTA, thereby further integrating the world economies. Unlike Ronald Reagan, he actually balanced the budget. He's been more of a Republican than most of the Republicans since Ike.
and obama has expanded nafta...he even pushed for his own with ofta..freeetrade with Oman
I don't know what 'experts' you were reading but ADP was predicting +120K a few days ago.
The Bureau of Labor Statistics doesn't fudge employment numbers at the request of the White House.
What this shows is that the economy is slowly improving. It still isn't anything near the Clinton employment numbers of an average gain of 250,000 per month but it's sure better than the last year of the Bush years.
Good point, when 315K people leave the work force, UE will magically come down.
"The decrease in the jobless rate reflected a 278,000 gain in employment at the same time 315,000 Americans left the labor force.
The labor participation rate declined to 64 percent from 64.2 percent."
According to Zandi of Moody's, the drop to 8.6 UE is not as good as it looks. The number of people dropping out, is still a problem.
Linky please.
Quote:
"We still have a very long way to go. I would favor the Fed going for a third round of quantitative easing," said Ryan Sweet, a senior economist at Moody's Analytics in West Chester, Pennsylvania. "It's the only powerful tool left, even though it's losing some of its bang." Jobless rate drops to 8.6 percent, hiring picks up | Reuters
It was an interview on Daily Rundown. But he wasn't down playing the report, only saying the number going out of the job market is still of concern. All the Repubs are naturally spinning how bad this is, but I am quite sure most Americans don't see it as bad news, only those that desperately want bad news. The WH Krueger is coming up with Chuck Todd, will see what he has to say.
Zandi also favors the payroll tax-cut extension and wanted a 2nd stimulus last year. Are the righties on board with that too?
Quote:
Obama’s plan targets workers’ pay first and counts on the money bubbling up to stimulate overall growth. The benefits tilt toward lower- and middle-income workers, since the payroll tax is currently assessed only on the first $106,800 of earnings.
The cut will have another effect: making the economy seem like it’s growing faster than it actually is. Moody’s Analytics (MCO) Chief Economist Mark Zandi estimates it would take white-hot growth in the neighborhood of 5 percent to provide the same income gains for workers next year that an expanded payroll tax cut would likely achieve. “Labor is flat on its back,” Zandi says. “This is a very efficient way to get that money in their pockets, which policymakers probably couldn’t do otherwise.” Obama Wants to Give You a Pay Raise - Businessweek
Wow, what an obvious attempt to preemtively cloud the good news with doom and gloom. Tbe big question is how liberal will Willard run in the general if unemployment creeps below 8%. Willard might start talking about UHC. With no convictions to speak of , we know he'll try anything.
Wow, what an obvious attempt to preemtively cloud the good news with doom and gloom. Tbe big question is how liberal will Willard run in the general if unemployment creeps below 8%. Willard might start talking about UHC. With no convictions to speak of , we know he'll try anything.
You referring to Romney as "Willard" smacks of Al Sharpton influence. I'll give you the benefit of the doubt, but I hope to God that you're able to shake whatever affinity you have for a guy whose entire show is One Big Hyperbolic, Factually Challenged Jive Fest.
The decrease in the jobless rate reflected a 278,000 gain in employment at the same time 315,000 Americans left the labor force.
That's the real reason the unemployment rate is decreasing.
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