Government jobs report surprises economists, GOP celebrate success of 'kill the recovery strategy'

[JohnWxy]

http://www.cnbc.com/id/43682730/">Jobs report surprises economists

Nonfarm payrolls rose only 18,000, the weakest reading since September, the Labor Department said on Friday, well below economists' expectations for a 90,000 rise.

The private sector added 57,000 last month, accounting for all the jobs created, with government employment shrinking 39,000 because of fiscal problems at local and state governments.
-------------------------------------------------------------------------------------------------------------------------------------------------


This came as a surprise to many economists as a few days ago, the payroll processor, ADP reported 157,000 new new jobs added in the private sector in June.

http://www.nytimes.com/2011/07/08/business/economy/data-point-to-growth-in-jobs-in-june.html|Two Jobs Reports Point To a Higher Gain in June - July 7,2011 - NYT>

New claims for unemployment benefits in the United States declined last week to the lowest level in nearly two months, according to a government survey on Thursday, while a separate report on jobs from the payroll processing company ADP was better than economists had forecast.

~~
~~
ADP said its survey showed that the private sector added 157,000 jobs in June. Economists surveyed by Bloomberg had forecast that the ADP report would show 70,000 jobs for June.
--------------------------------------------------------------------------------------------------------------------------------------------------


The GOP were pleased though. This latest report seemed to show that all their efforts to kill, delay or at least downsize every stimulus bill proposed by Democrats had succeeded in killing efforts by the Democrats to rebuild the economy and climb out of this REPUBLICAN DYSTOPIA.

The Republicans threatened to delay the very first stimulus bill with filibuster by amendment, unless Obama agreed to convert one third of the stimulus to tax cuts. Of course, in the midst of the Trickle Down Depression, when millions are worried about whether they will have a job in six months (especially knowing the Republicans planned to sabotage every stimulus bill proposed by the Dems) people will save any additional take home pay due to a tax cut, or use it to pay down debt. But they aren't very likely to spend any of it - so the Republicans knew they could kill off part of the stimulus at least. Obama faced with a long filibuster by amendment by the Republicans gave in quickly knowing that a stimulus delayed is a stimulus denied). The GOP then proceeded to fight every stimulus and jobs bill that came up.

Last year they extorted out of Obama an extension of the bush tax cuts, for those with incomes above $200,000, as the price to not kill Unemployment Benefits extensions to millions put out of work in part http://www.dailykos.com/story/2010/09/16/902479/-The-Bush-Tax-cuts-CAUSED-the-economic-crisis-">because of the bush tax cuts! Obama agreed to this bit of extortion as, once again, a protracted fight with the GOP would have quickly killed any recovery we had in place and sent the country quickly into a much steeper recession (most likely into a full-blown Depression) and that, Obama, or any other rational person, could not let happen. (That must have been sweeeet to the GOP: "Ha-ha-ha, eat this Dems!")

So the GOP ghoulishly relished this lousy Dept of Labor report (despite it's huge variance from the payroll processors (ADP) assessment of the situation). It looks as if all their work to kill the stimulus is really starting to pay off!


Now if they can just cause us to default on our public debt, they can produce a second economic calamity, at least as 'good' as the Trickle Down Disaster of '08 and blame it on Obama! Way to go GOP!



Who needs al Kaida when you've got the good ol' GOP!

[Hydra]

1. Hint: We're already in a depression

And as Krugman pointed out, the "Stimulus" was almost all tax cuts.

Every opportunity we have to fix this is being wasted because Obama believes in Milton Friedman economics. You know, the kind where you can burn your currency and and still come out on top?

There's nowhere else to go but down when you're following the path of a lunatic.

[JohnWxy]

2. Note OP: "in the midst of the Trickle Down Depression". I agree this is a Depression.

I too have been disappointed with Obama's way of dealing with the "Red State Brigade", but that doesn't contradict the obvious fact that the GOP have been fighting any stimulus bill to undermine any improvement to this Trickle Down Depression - for political gain.

...and it has been working amazingly well. Seems most people think Obama created this REPUBLICAN DYSTOPIA and, thanks in no small part to Corporate Media, most people seem to be completley unaware of the GOP's fighting against any and all efforts proposed by the Dems to rebuild the economy!

[Hydra]

3. Oh, credit where it's due

The Repubs have been busy little bees. Even so, they announced that they would say "No" to Obama on anything he came up with almost as soon as the election was over.

President Obama, however, has enthusiastically helped them at every turn. "How many tax cuts can I get you?" "How much coal, oil and nuclear would you like?" "More wars? Sure!"

We protest this, and we're the "retarded" "professional left."

It's not just me saying it though. Obama admitted that he and his advisers underestimated the recession(even though plenty of people warned him) and they felt it would be 1 year of trouble and everything would bounce back to normal. Therefore, the stimulus was only meant to blunt the effect for a year.

Jobs come from nowhere? I'm still puzzling that one out...

[JohnWxy]

4. a few months ago when I said we needed to find a Democrat to run in the 2012 election I elicited

quite a contumely. .. wonder how the question would go over now (I still wish there was a Democratic candidate I could vote for)?

my criticisms of Obama still do not lighten my blame of Republicans for their 'Scorched Earth' politics which involves destroying the livelihoods of millions of Americans and weakening our nation.

[Doctor_J]

5. Sad to say, we the people could have dome something about this a few

times over the last 16 years.

The first was around 1995. Limpballs was celebrating his first election victory, taking "thank-you" phone calls from Gingrinch and the like. Then Limbecile Tim McVeigh killed more 100 innocents in OKC. Right then it should have been crystal clear that Hate Radio was actually a terrorist cell. There were just a handful of them at that point, and ridding the world of that particular subculture would have been relatively simple, and sent a strong message that domestic terrorism would not be tolerated. Like removing cancer when it hasn't yet spread.

Then there was 2000, when 5 votes overruled the result of the presidential election. Christ, even the downtrodden Ukrainians would let that happen in their 3rd world enclave. But we let it happen, without a single casualty taken among the criminal SCOTUS, the storm troopers who terrorized the vote counters, or Big Media who were openly rooting for democracy to be hijacked.

It would also be very useful to punish individual random acts of terrorism - King Glenn's threats against the president for example.

There have been other critical moments along the same lines. We just have no fight in us, and are seeing the result of letting the bullies escalate their terrorism with impunity.