Saturday, June 2, 2012

dismal news to the job market ....

 4 million jobs are missing. Just what went wrong ?
This week was dismal news to the job market . As grim as those jobs figures were – just 69,000 jobs created and an unemployment rate that ticked up to 8.2 percent – that may not have been the worse news for Obama. Reading  today the San Jose Mercury News  : "weakening recovery is a serious vulnerability for President Barack Obama as he faces re-election, and it provides traction to his Republican rival, Mitt Romney" The President on the offensive said that his administration has created 4 million jobs in  4 years . Somehow the numbers don't add up, unemployment is at 8.2 % and has been in that percentage in the last 4 years . No new jobs were created , however the Obama stimulus money saved a lot of public sector jobs that would have made the national unemployment average 10 % today if there had not been any stimulus money anyhow. Mr. Obama blames Congress for failure to pass his Job's bill . I question now is Since the Tea Party took power, Congress has been the most ineffectual in the history of our nation — last session, passing into law a paltry 80 bills, the fewest since the country began tracking such things.  We also have a President since he took office has been out of the office campaigning , and unable to sit with Congress to resolve anything least but a federal budget . Scream foul here .Obama has a to-do list for Congress, especially the Republic-led House: “Reward American jobs, not outsourcing … Expand refinancing for responsible homeowners … Invest in tax credits for small-business jobs … Invest in clean-energy manufacturing … Create a veterans jobs corps.”"My message to Congress is get to work," Obama said in his weekly radio address Saturday.  OK . Let's get to work!
 After 3 1/2 years in office, it's getting harder to blame the painfully slow recovery on the mistakes of his predecessor, George W. Bush. But Obama keeps reminding the public of how bad things were when he took office in January 2009. The economy was deep into the recession and losing jobs month after bleak month. He's also tried shifting blame to congressional Republicans, saying they've held up the recovery by refusing to pass most elements of his jobs bill. And he says some factors dragging down the U.S. economy are beyond a president's control, such as the European economic crisis and fluctuating gasoline prices. The weakening economy in China and turbulence in the Middle East haven't helped, either.  

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