June 3rd, 2011
10:26 AM ET
12 years ago
Weak jobs report sets Washington abuzz
Washington (CNNMoney) - Washington was abuzz Friday about political implications of the dour May jobs report, with Democrats and Republicans blaming each other for continued lack of progress.
The Labor Department said 54,000 jobs were created in the economy last month - a figure that was far less than economists forecast and slower than recent months. The unemployment rate edged up to 9.1% from 9% in April.
In April when they Jobs numbers were up, the GOP-Tea Party were taking credits and doing victory laps on FAUX NEWS that their 'grand idea' of extending the Bush Tax cuts is working in creating JOBS!
Now the the GOP-Tea Party should be really PROUD to take credit for the May Job report and the spike in Unemployment rate instead of blaming everyone one else but themselves!!! How is that Tax CUTs and JOBS creation working out for ya?
Not one single job bill has come out of congress under the leadership of Crybaby Boehner on JOB CREATION or closing the tax loopholes that enables corporations to ship jobs overseas....instead they voted AGAINST any bill that will continue to give more tax breaks & deductions to BIG OIL corporations & their wealthy "campaign donors" FAT CATs!
GOP-Tea Party grand idea of creating jobs is, you guessed it:...........TAX CUTS & DeFUNDING MEDICARE!!!!
If all the GOPers hadn't voted in September 2010, against cutting tax breaks for Corporations who are still expanding jobs overseas, perhaps we would be seeing some of those manufacturing jobs returning back to America? God knows, Americans really, really would like to see these jobs back in America. Seems as if Corporations are not only racking in big bucks - their continuance of outsourcing jobs overseas still remains a viable enterprise. The only global economy still above water is centered in the heart of China. Can't imagine why. Goggle Mitt Romney's *business* experience and ask yourself just how many jobs did HE himself send to China (and elsewhere overseas) while acquiring his business resume through *downsizing* companies here in America?
obama still has enough time to clean mess up.
If the republicans can get control of senate and presidency, veterans will die in the streets, women will be reduced to nothing but objects used for breeding kids for their wars, and the voter suppression in newly-elected republican governor's states should be scaring the hell out of every citizen of this nation.
SOCIAL ENGINEERING SO THE WEALTHY GET MORE MONEY $$$$$$
"What did the GOP campaign for last November? They are the ones to be hold accountable . "
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Yet liberals don't hold Democrats responsible? Even when they had complete control of Washington? Typical
We have the lowest tax rate in our life time and these Repubs keep their pet morons believeing fox nonsense. I saw another report where over 100K jobs were created and the rate is under 9%!
CNN sucking up to the radical right as usual – "fox lite" – or better said Coporate News Network – CNN sucks.
The Repo-pubs have not created any bills to support small business or American job growth or our economy, in fact they have done everything to promote failure in the US. They are why we are here and why we have been here for as long as we have. But in Obama's second term he will ride these Repo-pubs like the cheap hoes they are. And then we will hear this tea-pends herd of smooth-brains wail like never before – music to our ears.
Here is the Truth and the Real Math:
American Population = 308 million
– minus 14 years and below = 20% = 61.6 million
– minus 65 years and older = 13% = 40 million
Actual Labor force = 308 – (61.6 + 40) = 206.4 million
Unemployment = 9.1% of labor force = 18.78 million (Unofficial figures are 30 million)
Therefore:
1. In America roughly 6 out of 10 people are working.
2. 3 out of those 6 are underemployed.
AND THE TRUTH IS that we still say America is the Greatest, Richest and the No. 1 Country in the World.
Sniffit you are so right.
I thought the continuation of the Bush Tax cuts were going to create more jobs. Republicans continue to think this is all on the President to created jobs, but they are did wrong. Republicans WHERE ARE THE JOBS you campaign on?
Obama will blame Bush as he always does, but its been the obama ball for 2 years so the idiot in the White House has no one to blame but himself. Just remember what obama said, Judge Me By the People I surround my self with, Tax Cheats, Liers and idiots, so see where this is going, its time to blame obama and clear the smoke from your eyes, Its Obamas fault.
@ Four: Obama is negotiating to have a tax increase as part of the debt ceiling increase. It's not a secret.
Clarification: Obama is negotiating to let the tax 2010 cut extension for the upper 2%ers EXPIRE. Paul Ryan is negotiating to give the upper 2%ers another tax cut beyond the 2010 extension. Obama will ONLY increase the upper 2%ers rates, or a whopping 10% of Americans. 90% of us WILL NOT see an increase, beyond what our State Republicans are throwing our way in increased fees and State and Local property taxes. I suspect you are fully aware of the negotiations, though, and are simply blowing whatever talking point bubbles Rush (and Co.) has been blabbering.
Four and The Door wrote:
Obama is negotiating to have a tax increase as part of the debt ceiling increase. It's not a secret.
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Nope, no secret. And? What does that have to do with one anamolous jobs report that Republicans are blaming on Democrats after taking credit several consecutive months of positive reports? Democrats have been talking about a tax increase since January, and we have seen some of the best jobs reports in years. So, by your logic that means talking tax increases actually increases jobs. The past month as seen a large blowback by Republicans to cut spending, and the result has been a downcast jobs report. Those are the facts....according your logic.
@ four and the door:
Clinton raised taxes and the economy surged
Bush lowered taxes and the economy tanked
Every strong economy we have had has been in a higher tax rate environment than the current one
The worst economy we have had since the Great Depression occurred with the lowest tax rates since that time
Our effective tax rate is low compared to other industrialized nations, including those with the strongest economies
I'm not saying that higher tax rates are preferable, but that the correlation between taxes and economic growth is very weak. It does not follow that if you decrease taxes things will get better. We have a spending problem AND a revenue problem. Taking taxes off the table will make it impossible for us to solve our economic problems. The mantra that low taxes for the wealthy are good for all Americans is PURE MYTH.
Where are the jobs that the GOPsters have promised when they took over the House of Representatives? Where are the jobs that the extension of the Bush tax cuts was supposed to bring about??????? When are the lies and the fairy tales going to stop?
@ Dan Smith – your numbers are all wrong. Please go to the BLS website and get real numbers.
"Believe it or not. The Obama administration has not raised taxes at all."
This is completely false. Even PolitiFact disagrees. Obamacare alone contains 18 separate tax increases that will cost taxpayers $503 billion between 2010 and 2019.
The Republican ran In 2010 that they would put American people back to work, but Instead they have taking away from People to make thing worst. And Know the Republican will most likely try and blame President. The Republican are the one that got us Into this mess , with the two wars they started under LIES they told the American People. They have spend Trillions of dollar on these two wars, and they till want to keep troop there. If the Republican are really wanting to bring down the Deficit ,than bring the Troop Home and that right there will be enough of cutting the Deficit to rise the dept ceiling. This way you wouldn't hurt any American people and Grandma and Grandpa can keep there Medicare. So the way I see It the Republican have to go In 2012 or the Republican are going to make America worst than It Is NOW.
Remember Boehner said it did not care if jobs where lost with their spending cuts.
GOP has proven over & over that they don't care about – the American poeple, the American economy, American Constitution, the American military, the American justice system, the Amrican family, American "values", or anything American – except the American dollar that's going into their pocket.
Since President Obama has taken office the federal government has added 200,000 new federal jobs, and if some of those jobs are lost in this, so be it," he said.
"Do you have any estimate of how many will?" Caldwell pressed. "And won't that negatively impact the economy?"
"I do not," Boehner replied, moving to the next questioner.
Well, Mr. Speaker, I do. I checked with budget expert Scott Lilly of the Center for American Progress, and, using the usual multipliers, he calculated that the cuts – a net of $59 billion in the last half of fiscal 2011 – would lead to the loss of 650,000 government jobs, and the indirect loss of 325,000 more jobs as fewer government workers travel and buy things. That's nearly 1 million jobs – possibly enough to tip the economy back into recession.
Here is Boehner words!
Dan Smith wrote:
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Budget Deficit $14.3 Trillion (Bush Tax Cuts account for $11T counting cost and lost revenue)
Trade Deficit $767.5 Billion. (Must have something to do with the jobs exported overseas)
Unemployment 14 million. (Thank-you George, Thank-you, GOP)
Under-employment 90 million. (Republican policies to bust unions at work)
Property Values tanked by 50%. (They surged as much as 500% in a decade. They will drop more.)
60% Industries have shut down. (60%? Industries have shut down and moved overseas. TAX CUT!)
Gas $4.00 a gallon. (China alone increased its' oil consumption by 300% between 1997 and 2007.)
2 Wars in Iraq and Afghanistan. (Thank you, George.)
This can't be. The republicans told us that if we kept the taxes low on the wealthiest Americans, it would create jobs. I guess they lied.
That's the Republican Plan: tip the economy back into recession and then campaign against Obama for failing to end the Great Recession created by Bush.
New Age Independent wrote:
Obamacare alone contains 18 separate tax increases that will cost taxpayers $503 billion between 2010 and 2019.
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You are talking about a mythical unicorn. Obamacare does not exist.
The *Affordable Care Act* has not enacted any tax increases.
Oh, I'm certain 'QE3' will fix this problem. (insert sarcasm)
Obama and his entire administration never stop lying through their teeth. One must always remember. If their lips are moving and you hear sound coming from that mouth you can bet your last dime what you're hearing from this administration is a BIG LIE!