Friday, June 1, 2012
Economy Added 69K Jobs in May, Fewest in a Year: Why Congress and the President have to come together
There's only two positive things that can be said about the May Jobs Reports, that more jobs were created then lost, another words a net in Job Growth. And that even though the Unemployment Rate jumped up a tenth of a percentage point, that there are still plenty of people looking for work. So there are still plenty of jobs to be created and its a matter of how to put those people to work. And that with a workforce of some 150M people and you only create 69K jobs in a month with an Unemployment Rate already over 8% going in and now thats jumped up. There is nothing else positive about this Jobs Report, its now a matter of what to do past this, how do we improve the situation. Which hopefully will happen after Democrats and Republicans stop blaming each other, for who's fault it is for the weak Jobs Report. Assuming they ever stop blaming each other for that and the White House knows this, which is why the President today was already talking about. What he's been trying to do create Job Growth but that Congress hasn't cooperated in making that happen. Because he doesn't want to get stuck with all the blame, I mean he is up for reelection.
If nothing happens from now until November and the economy remains this way, both weak Economic and Job Growth, with Unemployment staying about where it is. Then the President unless Mitt Romney commits Political Suicide or something or brings out a different Mitt Romney. A new character, we haven't seen before, which is possible but probably not likely. We'll have a new President in 2013 and the President understands this as well, which is why its in his interest. To get Congress to work with him and pass another Jobs bill or several Jobs bills, because the House is not going to give him everything he wants and the President is not going to give the House everything they want. The House Republican strategy is pretty simple, basic and transparent, the Status Quo, that if nothing else happens, they'll get reelected with a Republican President. So the President has to convince then that its in their best interest to work together.
Passing the blame around which is what President Obama was trying to do, look I know things are bad but its not all my fault. Or not all of its my fault, I've been trying to get Congress to work with me but they keep turning me down. He has to do better then that and give Americans, especially Democrats and Independents a reason to vote for him if the economy remains the same. He's going to have to get House Republicans to cooperate with him.