"Renaissance Thinking About the Issues of Our Day"
I was a little surprised that the unemployment rate dropped from 8.1 to 7.8% with the small number of jobs, and part time at that. Also, oil and gas prices dropped recently, but then we all know why they're high. Almost exactly double from 2004. Unfortunately, there are still way too many who listen to Limbaugh almost exclusively and/or watch Fox News. I've actually had e-mails suggesting that I should listen to Limbaugh from an old school mate of mine. She is of Native American ancestry so I don't get why she's all for these right winger tactics of hate mongering,racist and gender biased crap.
From Robert Reich's blog on the Huffington Post:
The White House is breathing easier this morning. The Bureau of Labor Statistics reports the unemployment rate dropped to 7.8 percent -- the first time it's been under 8 percent in 43 months.
In political terms, headlines are everything -- and most major media are leading with the drop in the unemployment rate.
Look more closely, though, and the picture is murkier. According to the separate payroll survey undertaken by the BLS, just 114,000 new jobs were added in September. At least 125,000 are needed per month just to keep up with population growth. Yet August's job number was revised upward to 142,000, and July's to 181,000.
In other words, we're still crawling out of the deep crater we fell into in 2008 and 2009. The percent of the working-age population now working or actively looking for work is higher than it was, but still near a thirty-year low.
But at least we're crawling out.
Romney says we're not doing well enough, and he's right. But the prescriptions he's offering -- more tax cuts for the rich and for big companies -- won't do anything except enlarge the budget deficit. And the cuts he proposes in public investments like education and infrastructure, and safety nets like Medicare and Medicaid, will take money out of the pockets of people who not only desperately need it but whose spending is necessary to keep the tepid recovery going.
Romney promises if elected the economy will create 12 million new jobs in his first term. If we were back in a normal economy, that number wouldn't be hard to reach. Bill Clinton presided over an economy that generated 22 million new jobs in eight years -- and that was more than a decade ago when the economy and working-age population were smaller than now.
Both Obama and Romney assume the recovery will continue, even at a slow pace, and that we'll be back to normal at some point. But I'm not at all sure. "Normal" is what got us into this mess in the first place. The concentration of income and wealth at the top has robbed the vast middle class of the purchasing power it needs to generate a full recovery -- something that was masked by borrowing against rising home values, but can no longer be denied. Unless or until this structural problem is dealt with, we won't be back to normal.
ROBERT B. REICH, Chancellor's Professor of Public Policy at the University of California at Berkeley, was Secretary of Labor in the Clinton administration. Time Magazine named him one of the ten most effective cabinet secretaries of the last century. He has written thirteen books, including the best sellers "Aftershock" and "The Work of Nations." His latest is an e-book, "Beyond Outrage," now available in paperback. He is also a founding editor of the American Prospect magazine and chairman of Common Cause.
According to my PollTracker app as of Friday night Mitt's bump was "0.4%".
I think those whom it will affect are the uninformed who will believe whatever they are told. I do not trust the "independent" (uninformed/misinformed) voter. The Republicans who may have voted last time for Obama and may have been swayed by Romney's LieFormance the other night, the job numbers may swing them back to Obama.
They will say the numbers are rigged, but that's getting old. The numbers will stand. What was rigged was the presidential debate. I replayed the beginning and watched Mitt pull a paper from his right front pocket and place it on the podium as he walked around to ge behind it.