New piece at Fox News: Where Are the Jobs, Mr. President?

My new piece starts off this way:

The anemic growth of the U.S. economy is slowing down even further. More jobs were lost in July and more discouraged workers completely left the labor force. Of course, President Obama and Democrats are not taking any responsibility for this and are blaming former President Bush.

But look at the numbers.

The current sluggishness can hardly be blamed on the previous administration. Last fall the economy grew at a reasonable 5 percent annual rate. It has dropped since then: during January through March, the growth rate dropped to 3.7 percent and April through June, 2.4 percent. An Angus Reid survey released on July 31 found that only 11 percent of Americans rated their economic conditions as Very Good / Good, down from 15 percent in April. In July, as incredible 86 percent of Americans feel that their economic condition is Poor/Very Poor, an increase from 83 percent.

Treasury Secretary Tim Geithner now tells us this week that unemployment is likely to go back up. A hardly surprising finding given the slow economic growth.

No matter how one cuts it, a slowing economy this year is not what Democrats were predicting a year after the stimulus bill was passed. . . .

Labels: , , , ,


Post a Comment

<< Home