Total nonfarm payroll employment increased by 171,000 in October, and the unemployment rate was essentially unchanged at 7.9 percent. Employment rose in professional and business services, health care, and retail trade.These numbers are way above expectations, so when I heard them, I instantly turned my television to Fox and Friends, and everybody on that show looked absolutely stunned by these good numbers. All these Fox folks could say is that these numbers are still low -- and they really hit the point that the unemployment rate did rise by a measly 0.1 percent, but then they immediately shifted to the superstorm aftermath and how awful that situation is -- and of course to Libya. Hilarious.
I bet you the GOP this morning is wishing it could censor these new numbers like it did with the CRS Report (via The New York Times):
The Congressional Research Service has withdrawn an economic report that found no correlation between top tax rates and economic growth, a central tenet of conservative economy theory, after Senate Republicans raised concerns about the paper’s findings and wording.I think we might be hearing a lot more about this report in the coming days. I'm not surprised that the GOP did this. After all, members of the GOP attacked the Bureau of Labor Statistics last month when it came out with a jobs report that contained numbers they didn't like (which I thought was hilarious given that the jobs report in question really wasn't all that great), and I'm sure they'll try to do the same thing with the new job numbers.
The decision, made in late September against the advice of the agency’s economic team leadership, drew almost no notice at the time. Senator Charles E. Schumer, Democrat of New York, cited the study a week and a half after it was withdrawn in a speech on tax policy at the National Press Club.
But it could actually draw new attention to the report, which questions the premise that lowering the top marginal tax rate stimulates economic growth and job creation. “This has hues of a banana republic,” Mr. Schumer said. “They didn’t like a report, and instead of rebutting it, they had them take it down.”
And now Republicans are going after the Congressional Research Service in a similar way because it had the nerve to report on something that everybody already knows, namely, that trickle down economics is horsehit. I'm intrigued by what all this says about the GOP itself, especially in the light of the recent criticism Gov. Chris Christie has received from his fellow Republicans for praising Obama's response to the super-storm.
4 comments:
What a boob. The unemployment rate is higher now than when the idiot took office. He promised 5.2 percent unemployment by 2012 if he got his trillion-dollar “stimulus” bill, and openly advised Americans to vote him out of office if he failed to deliver on this promise.
He hasn't done shit, and they will!
Oh, go fuck yourself. I love how you Republican pieces-of-shit left the US economy in a shambles when your party left the White House in 2009 -- you might remember that the economy was shedding 800,000 jobs a month at that time and continued to do so for several months into Obama's presidency before his policies could kick in -- and now you assholes blame Obama for all the jobs that were lost in the first several months of his Administration even though it was GOP policies that caused all those lost jobs.
And now your party is censoring government reports. Censorship? Really? Who the hell do you think you guys are, Stalinists?
Fucking troll.
Yeah, but he's your little troll.
True. I'll miss him when he moves to Haiti on Wednesday, Nov. 7.
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