August Jobs Report

[Sbane]

I see some here are enjoying the fact the economy is creating no jobs. Would I be out of line if I said the Republicans want the economy to do bad?

[Sbane]

I see some here are enjoying the fact the economy is creating no jobs. Would I be out of line if I said the Republicans want the economy to do bad?

No, but I want the policy that led to that no permanent job creation, ended.

(And just for the record, I did post some good news.)

See, this is why you are a hack. What policies were you thinking about specifically, hack?

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Wouldn't obama trying to help te economy be socialist, Politico? What exactly can he do besides increase the size (and employment) of the government? Is that what you want, Mr. I hate socialism?

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More tax cuts would not have helped the economy, I can guarantee you that. All that money would have been saved (and the tax cuts in the stimulus package were added to savings). I have no problem with saving (I actually think Americans need a higher savings rate) but not at the expense of the national debt. That being said, I do agree with you that more could have been done on infrastructure and education. Realistically speaking though, none would have created the jobs that are needed right now. The unemployment rate would have been about the same. The problem is a lack of demand in the economy, and amusingly enough, those transfers to the state probably kept demand in the economy higher. Though if that was the right thing to do while running up the debt is a matter of debate.

Look, the basic fact is that there is a huge debt overhang right now. Unemployed people are not spending obviously, but even those with jobs are more concerned about paying off their debts and building up their savings than going out and splurging. In an economy where 70% of economic activity is due to consumer spending, that is obviously not going to lead to good economic conditions regardless of who is president or what economic policies they pursue.