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Old 12-07-2012, 04:28 PM
CAVEMAN1 CAVEMAN1 is offline
Join Date: Feb 2012
Posts: 96

Can anyone help but think that the only reason employment numbers were better in November is because just like every year employers hire holiday help?!?!?!?! But yet, Obama and the media would like to paint that the economy is improving. By January the unemployment numbers will be back up!

By PATRICK REIS | 12/7/12 8:39 AM EST Updated: 12/7/12 10:47 AM EST

New jobs numbers handed President Barack Obama fresh evidence for his strongest argument in fiscal-cliff talks: His prescriptions have been healing the economy.

Slowly, surely, but it’s moving in the right direction, say Democrats, who used the November numbers — 146,000 new jobs and the unemployment rate at a 47-month low of 7.7 percent — to reiterate their call for freezing income tax rates for most Americans while increasing marginal rates for the wealthiest taxpayers.
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“It is critical that we continue the policies that are building an economy that works for the middle class as we dig our way out of the deep hole that was caused by the severe recession that began in December 2007,” Alan B. Krueger, chairman of the White House Council of Economic Advisers, said. “Most pressing, President Obama has proposed, and the Senate has passed, an extension of middle class income tax cuts that would prevent the typical middle class family from facing a $2,200 tax increase at the beginning of next year.”

(Also on POLITICO: W.H. to House GOP: We're not moving)

The positive report gives Obama a bit more momentum just a month after he won a second term, and it strengthens his hand in negotiations with House Speaker John Boehner over a new deficit-reduction deal that would supersede the “fiscal cliff” of broad spending cuts and tax increases due to take effect next month.

Like an NFL quarterback who takes all the blame for a loss and all the credit for a win, Obama is now the primary political beneficiary of a slightly brighter economic picture.

Investors reacted positively to the news with the Dow Jones Industrial Average up slightly in morning trading.

Jobs numbers are always a bit of a political Rorschach Test. Democrats and Republicans see what they want in the Labor Department’s data, and Republicans say raising taxes on the wealthy would threaten a fragile economic recovery.

“When a store manager is short staffed because looming tax hikes and uncertainty are stalling her hiring, that’s not right,” House Majority Leader Eric Cantor (R-Va.) said. “When 7.7% is cause for celebration, we know there is more work to be done. We must do better.”

Democrats counter that Republicans are risking just that outcome by holding up tax cuts for the overwhelming majority of Americans to bargain for the top 2 percent. Senate Majority Leader Harry Reid (D-Nev.) called out Boehner and Senate Minority Leader Mitch McConnell (R-Ky.) for that and for again using the debt limit as a political leverage point.

“The steps we need to take to keep our economy moving in the right direction are simple. Speaker Boehner should pass the Senate’s middle-class tax cut bill immediately, and Senator McConnell should allow an up-or-down vote on his own proposal to give the president the authority to avoid default by raising the debt ceiling,” Reid said.

McConnell has suggested that Congress give the president the power to raise the debt ceiling, with Congress retaining the right to vote down the increase if it so chooses. But in an odd parlay on the Senate floor this week, McConnell called for a vote on the president’s version of his debt ceiling plan expecting Democrats to object because they did not have the votes to pass the White House proposal.
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