The View From 1776

Jobs Report Not What It Is Touted To Be

Read Mish’s Complete Look at Employment Numbers and Forbes’s Why Is The White House Playing Down A Strong Jobs Report?

Posted by .(JavaScript must be enabled to view this email address) on 03/11 at 12:45 AM
  1. Thomas,

    As the author of your post notes, in a hopeful mood,

    "Friday’s report, though, could be a sign of better things to come, yet the sequester looms, as the White House pointed out."

    The essence of White House caution in the improved jobs situation likely has to do with the needless damage the sequester will do to the struggling economy.

    The house could end the entire problem with a one sentence bill to "Repeal Sequestration," but they apparently would prefer to see the damage occur in the name of the "god of deficit cutting."

    What nobody seems to realize is that the deficit is, in fact, shrinking. In Bush's last year, it was $1.4 trillion. It has declined every year since and this year is projected to be about $800 billion.

    The entire GOP argument is that the deficit is wildly out of control, when in fact this is not true. Our greatest problem is unemployment, which this unnecessary "Sequestration" will only make worse.



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