May 2012 Jobs Report

[Oakvale]

Unambiguously awful numbers, and everyone should panic a little.

Obviously now is the perfect time for another debt limit fiasco!

[Oakvale]

At least this will spur Congress to pass further economic stimulus like any high school economics textbook teaches, right? Right?

[Oakvale]

Maybe Obama should propose a >$1 trillion dollar giant laser that will zap illegal immigrants as they cross the border. This form of stimulus might actually pass the House.

[Oakvale]

 Obviously it's not desirable for the US to keep piling on debt until the end of time, but the middle of the worst economic crisis since the Depression isn't the time to start cutting government spending.

The problem with the austerity approach is that it's never been an attempt to solve the crisis, but an attempt to use it as an excuse to slash government.

[Oakvale]

Maybe this will force the Fed to actually do something to address the jobs situation.