Did the big March jobs report put Pres. Obama back on the road to reelection? If so, he can thank the GOP, whose tax cuts saved him from himself.
You could hear cheering all the way from the West Wing when the Labor Department showed a 216,000 gain in nonfarm payrolls, the biggest number in quite some time. Plus, the unemployment rate continued its decline to 8.8 percent. Not so long ago it was nearly 10 percent.
Corporate payrolls have now increased by 478,000 for the first three months of the year. Over the past three months, the average payroll gain has been 159,000, which is more than twice the monthly gain in 2010. If payrolls stay on track, that would mean nearly 2 million jobs created in 2011.
So sure, the White House must be very happy. In fact, everybody should be happy at an improving jobs picture.
But here’s the sublime irony. The wake-up in job creation is a function of Republican policy. After all, for two years the Obama Democrats spent themselves into oblivion, with over $1 trillion of so-called big-government stimulus. Didn’t work. By the end of last year, that failed stimulus wore off, and it was replaced by Republican tax cuts.
Umm, no you idiot. The Bush tax cuts continued being the Bush tax cuts. Those didn't change at all. And Obama lowered payroll taxes too. If the GOP is solely responsible for the last three months of job creation because of their tax cuts, why did the financial crisis happen?
Christ, what a joke.
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