Tag Archives: trade deficit

Big jobs numbers, but still no GOP applause

Critics of President Obama have been beating the drum for years about the economic recovery.

Yeah, nice jobs numbers, but those wages just aren’t increasing, they say, while lampooning the economic recovery as a sort of mirage.

http://www.nytimes.com/2014/12/06/business/economy/november-jobs-unemployment-figures.html?hp&action=click&pgtype=Homepage&module=first-column-region&region=top-news&WT.nav=top-news&_r=0

Today’s news brought some serious good cheer to some of us, but not all.

The economy added 321,000 jobs in November. Wages increased 0.4 percent as well. The bottom line? The economy is finally beginning to be felt in people’s homes.

Will there be cheering among congressional critics of the president? Don’t hold your breath.

My hunch is that they’ll find a way to spread the joy among themselves without giving credit to a federal economic policy that’s been working for, oh, about the past five-plus years.

The stock market is heading into record territory — again. The trade deficit is down. The budget deficit is down. The national debt is slowing. Unemployment remains less than 6 percent. Investments are up. Spending is up. Real estate prices are up. Auto sales are up. Domestic energy production is up. Gasoline prices are plummeting.

Holy cow! I can’t stand all this good news!

I’ll just have to proclaim it from this forum yet again.

 

Economy becomes Democratic trump card

Who’da thunk this could happen?

The economy is looming as the Democrats trump card as they fight to retain control of the U.S. Senate and try to prevent Republicans from grabbing even tighter control of the House of Representatives.

http://thehill.com/opinion/juan-williams/219140-juan-williams-economy-could-tip-election-to-dems

That’s the view, at least, of Juan Williams — one of Fox News’s token liberals.

Williams noted in an essay that President Obama is now using President Reagan’s legendary line from his 1980 campaign when he asked: Are you better off than you were four years ago?

Obama is turning that question on its ear for the GOP.

Are we better off today than we were four years ago, or six years ago, or even one year ago?

The answer unquestionably is a resounding “yes!”

The economic reality, though, hasn’t yet registered with Americans, according to RealClearPolitics.com, Williams reports. “RealClearPolitics has 55 percent of Americans disapproving of the president’s handling of the economy, to only 40 percent approving.” Why is that? My guess is that the GOP has done a better job of bad-mouthing the economy than Democrats have done talking it up.

The data tell a different story. This past month, we added 142,000 jobs to the economy, but that was seen as a “disappointment.” The previous several months registered more than 200,000 jobs monthly. The unemployment rate is now at 6.1 percent. Manufacturing is up. Exports are up, knocking down the trade deficit.

Will any of this work in Democrats’ favor when the mid-term elections are decided? That remains to be seen.

Still, it boggles my mind that the economy — which seemed to be in such a shambles just three years ago — now has become Barack Obama’s major bragging point.

Who knew?