The Political Spin Of The Jobs Report

Another jobs report, more spin by both sides. The reality is that the economy is creating jobs but it’s not really improving, it’s just treading water. Unfortunately many think Romney would do a better job, but he and his fellow Republicans are what stand between the current stagnant economy and an economy creating the jobs needed to return to full employment. When Romney says Obama’s policies aren’t working he is being disingenuous. Obama’s policies are the American Jobs Act, proposed last September, but Republicans want nothing to do with it. Why? Because it would work.

• • •

Video: ‘Death Spiral Of Falling Demand’ – Venture Capitalist Nick Hanauer On Viewpoint with Eliot Spitzer

Venture capitalist Nick Hanauer explains why people create the demand which then creates the jobs. He says he makes 1000 times more than the average worker but that doesn’t translate to 1000 times the consumerism of the average worker. He can’t makeup the difference. So with more wealth accumulating within a small pool of wealthy people, that means less wealth spread across the rest of the country. It means less purchasing power and less demand for products and services from tens and hundreds of millions of Americans. This is why supply side (trickle down) economics doesn’t work. We’ve tried it for 30 years. How many more years do we need to continue failed economic policy before we wake up and realize it will never work?

• • •

Hey Mitt, It Was A Republican Who Was President When The ‘Great Recession’ Began

I would like to remind Republicans, particularly presidential candidate Mitt Romney, that it was a Republican who was in the White House when the ‘great recession’ began. Romney can try to spin it as Obama’s economy or Obama’s recession, pretending that Obama was responsible for the worst recession since the great depression, but it was George W. Bush who was president at the time.

• • •

GOP Hell-Bent On Tax Favors For The Rich Financed By Cuts To The Poor

Republican lawmakers are locked into an ideology of trickle-down economics. They believe giving tax breaks to the rich will result in prosperity for everyone, or at least that’s what they tell the public. It’s sometimes hard to believe grown adults advocate such nonsense, but here we are, some 30+ years into a massive experiment of wealth redistribution to the top 1%. What do we have to show for it? The free-market advocates will say taxes are still too high, there are still too many government regulations, and if we cut both we will be on the road to prosperity. But whose prosperity? Does the rest of the country buy this nonsense? Apparently a large percentage of Americans do subscribe to this bombast. It’s the only way it’s lasted (even thrived) for so long.

• • •

‘Only’ 120,000 Jobs Added In March, But Public Sector Job Losses Continue To Shrink

The Bureau of Labor Statistics reports that 120,000 jobs were added to the U.S. economy in March. This is the 15th straight month of job gains when combining public and private sector. It is the 25th straight month of private sector job growth. The unemployment rate dropped from 8.3% to 8.2% but this was largely due to people dropping out of the labor market. The breakdown for March is 121,000 private sector jobs added and 1000 public sector jobs lost.

• • •