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Obama's Bad Economy; Why won't he do what the Reps want?
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Topic Started: Nov 7 2015, 03:22 AM (459 Views)
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Brewster
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Nov 7 2015, 03:22 AM
Post #1
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Fire & Ice Senior Diplomat
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Strong economy could help Hillary Clinton, Democrats By MJ Lee, CNN Politics and Finance Reporter
Washington (CNN)—Hillary Clinton received another piece of good news to head into the weekend with: a stellar jobs report.
The Labor Department announced Friday that the U.S. economy added 271,000 jobs in October, pushing the unemployment rate down to 5%. To put that figure in perspective, the last time the jobless rate was 5% was in April 2008 — when Clinton and then-Sen. Barack Obama were battling for the Democratic nomination for president. At the end of Obama's first year in office, the unemployment rate peaked at 10% in October 2009.
The most striking bright spot in Friday's report was wage growth. After remaining stubbornly stagnant, average hourly earnings rose 2.5% — the best gain since 2009.
Related: Unemployment rate falls to 5 percent
Economic analysts warn against making sweeping conclusions about the health of the economy based on one jobs report. But the surprisingly robust jobs growth and wage gains in October are undoubtedly welcome news for Democrats — particularly the party's eventual nominee for president. Clinton has a wide lead in polls of Democratic primary voters.
For Republicans, it's becoming increasingly difficult to make their case against the Obama economy.
"This is a very good report. And it's not just the headline number but the fact that average hourly earnings are up," said Gus Faucher, a PNC senior economist. "If I were a Democrat I would be making a lot of hay out of it."
For the majority of Obama's time in office, Republicans have sought to blame his administration for lackluster economic growth. Turning around the economy was one of the main promises that GOP presidential nominee Mitt Romney made in the 2012 cycle, as he touted his experience in the private sector.
In their push to repeal the Affordable Care Act, Republicans have also argued that the president's landmark healthcare law is a drag on the jobs market and the economy.
"It becomes awfully hard for Republicans to bash the president about the economy in general or about the so-called job killer Obamacare in particular on the heels of not just this month's report, but the gradual improvement in the job market," said Jared Bernstein, a former top chief economics adviser to Vice President Joe Biden. "And if the wage improvement story sticks, and I kind of think it might, that takes very important argument off the table."
Edited by Brewster, Nov 7 2015, 03:22 AM.
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Jim Miller
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Nov 7 2015, 03:33 AM
Post #2
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Fire & Ice Senior Diplomat
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More meddling by foreigners. Like anything they have to say means something. Braha,ha,ha,ha,ha.
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Berton
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Nov 7 2015, 04:33 AM
Post #3
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I keep wondering why the socialists keep believing anything CNN puts out?
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Brewster
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Nov 7 2015, 04:37 AM
Post #4
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Well, it's not perfect, but at least they're not all proven liars like FOX.
Anything you want to prove is a lie? Or do you just want to bitch about CNN and ignore the facts?
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Berton
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Nov 7 2015, 04:40 AM
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Since you refuse to point out anything specific when you say a OP is wrong I will not oblige you and point out that CNN is another of your far left wing sites you use when you want to propagate more of the left wing propaganda.
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Brewster
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Nov 7 2015, 04:42 AM
Post #6
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Fire & Ice Senior Diplomat
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So you just want to Bitch. OK, I understand. Goodbye.
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Jim Miller
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Nov 7 2015, 04:47 AM
Post #7
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Fire & Ice Senior Diplomat
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Berton 1,436....Brew 0
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Neutral
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Nov 7 2015, 04:52 AM
Post #8
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Fire & Ice Senior Diplomat
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Someone has to be a complete idiot to believe this is a good economy.
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Stoned
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Nov 7 2015, 07:22 AM
Post #9
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- Brewster
- Nov 7 2015, 03:22 AM
- Quote:
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Strong economy could help Hillary Clinton, Democrats By MJ Lee, CNN Politics and Finance Reporter
Washington (CNN)—Hillary Clinton received another piece of good news to head into the weekend with: a stellar jobs report.
The Labor Department announced Friday that the U.S. economy added 271,000 jobs in October, pushing the unemployment rate down to 5%. To put that figure in perspective, the last time the jobless rate was 5% was in April 2008 — when Clinton and then-Sen. Barack Obama were battling for the Democratic nomination for president. At the end of Obama's first year in office, the unemployment rate peaked at 10% in October 2009.
The most striking bright spot in Friday's report was wage growth. After remaining stubbornly stagnant, average hourly earnings rose 2.5% — the best gain since 2009.
Related: Unemployment rate falls to 5 percent
Economic analysts warn against making sweeping conclusions about the health of the economy based on one jobs report. But the surprisingly robust jobs growth and wage gains in October are undoubtedly welcome news for Democrats — particularly the party's eventual nominee for president. Clinton has a wide lead in polls of Democratic primary voters.
For Republicans, it's becoming increasingly difficult to make their case against the Obama economy.
"This is a very good report. And it's not just the headline number but the fact that average hourly earnings are up," said Gus Faucher, a PNC senior economist. "If I were a Democrat I would be making a lot of hay out of it."
For the majority of Obama's time in office, Republicans have sought to blame his administration for lackluster economic growth. Turning around the economy was one of the main promises that GOP presidential nominee Mitt Romney made in the 2012 cycle, as he touted his experience in the private sector.
In their push to repeal the Affordable Care Act, Republicans have also argued that the president's landmark healthcare law is a drag on the jobs market and the economy.
"It becomes awfully hard for Republicans to bash the president about the economy in general or about the so-called job killer Obamacare in particular on the heels of not just this month's report, but the gradual improvement in the job market," said Jared Bernstein, a former top chief economics adviser to Vice President Joe Biden. "And if the wage improvement story sticks, and I kind of think it might, that takes very important argument off the table."
I believe there was a time when we considered 5% unemployment to be "full employment". Certainly better than Reagan ever managed. It is a competitive rate all the way back to Vietnam.
http://www.infoplease.com/ipa/A0104719.html
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Brewster
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Nov 7 2015, 07:31 AM
Post #10
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Apparently Neutral thinks that you have a good economy.
Edited by Brewster, Nov 7 2015, 07:32 AM.
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