Bloomberg - American employers added jobs at the slowest pace in nine months in June and the unemployment rate unexpectedly climbed to 9.2 percent, sending global stocks tumbling on concern the world’s biggest economy is faltering. Employers increased payrolls by 18,000 workers, less than the most pessimistic forecast in a Bloomberg News survey of economists, which called for growth of 105,000.
The increase followed a 25,000 gain that was less than half the initial estimate. Hiring by companies was the weakest since May 2010. “Poor job growth essentially stops any growth in consumer spending,” said Guy LeBas, chief fixed-income strategist at Janney Montgomery Scott LLC in Philadelphia. “This is saying that economic conditions are stagnant, with no bright spots.” Read full story here: News New Mexico
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Seven months ago Obama signed the extension of the Bush tax cuts advocating that raising taxes in a bad economy would cost people jobs and stall any recovery. Since then unemployment is higher and the economy has worsened. Now he's in campaign mode. He now says we need to get the rich who own corporate jets. Really, Mr. President? What happened to your December 2010 position of not raising taxes in a bad economy? Now it's ok to raise taxes in a bad economy? It's now a good idea to raise taxes when your economy is even worse than it was seven months ago? Really? Well...which is it? Listen up folks, this man is no leader. He refuses to accept responsibility for his economic policies. Furthermore, his campaign strategy appears to be to blame rich people and his predessessor and ignore his failed policies. The only "shovel ready project" in America today is to bury this bum and elect someone who won't carp about the job he inherited or blame shift to someone else for his failures. At what point does Obama take the blame for making things worse? Are we suppose to go another four years with decisions that make it virtually impossible for any prudent business man to hire in this environment?
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