More jobs may not fix what ails U.S. economy

[UpInArms]

http://www.azcentral.com/arizonarepublic/business/articles/1109talton09.html

The surprising thing about the October employment report was not the creation of 160,000 jobs, but that the turnaround took so long.

If job creation finally has begun to outpace job destruction, it would end the longest hiring slump in six decades. Even so, the economy must produce 130,000 new jobs a month just to keep up with the normal expansion of the population. Job expansion must gain strength to replace the 2.5 million jobs lost since 2001. Also, manufacturing continued to decline for the 39th consecutive month.

Just as the 2001 recession was different from its recent predecessors, so, too, is the recovery. For months, tax cuts, regulatory relief for business and easy credit from the Federal Reserve failed to create jobs.

<snip>

Many Republicans in Congress think they are "starving the beast" of big government. But government keeps growing. Politically, they want to extend entitlements to the middle and upper classes.

This right-wing nihilism does nothing to advance the discussion of government's proper and limited role. Something will have to give, and sooner than anyone thinks.

...more...

[RuB]

1. I suspect this little recovery will last till the holidays are over.

[xJlM]

2. Isn't it amazing...?

Yeah, our "recovery" happened just in time for Christmas. I bet we get another boost come September-October of next year.