This hasn’t been a good week for Mr. Obama. First there was the “Polish death camp” thing that wouldn’t go away. (Hey, I understood what he meant, didn’t you? But just try explaining it to the Poles…)
Today, there’s this:
A dismal job market report Friday gave a resounding confirmation to fears that the United States recovery has markedly slowed, reflecting mounting evidence of a global slowdown.
The report, which showed the smallest net job growth in a year and an unemployment rate moving in the wrong direction, was a political game-changer that bodes ill for President Obama as he faces re-election.
It provided traction for his Republican rival, Mitt Romney, at a time when politicians have been deeply divided over the most effective way to strengthen the economy. And it put increased pressure on the Federal Reserve to take further action to stimulate growth.
The United States economy gained a net 69,000 jobs in May, according to the Labor Department. The unemployment rate rose to 8.2 percent from 8.1 in April, largely because more people began looking for work. And there was more unexpected bad news: job gains that had been reported in March and April were revised downward…
Yow. Now the president knows how John McCain felt when the economy got shot out from under him. OK, not that bad. But still not good.
What do y’all think? Is it a blip, or a negative trend? Because I remain convinced that the health of the economy depends in large part on what y’all — all 300 million or so of y’all — think about it. Yeah, there are some things we can’t help, like the Euro mess, but largely we have the ability to stimulate the economy by ourselves. Hey, that sounds kind of dirty, doesn’t it? Well, that’s not how I meant it. Or maybe I did. Talking about money stuff makes my mind wander…