The unemployment rate rose sharply in December to its highest level in more than two years, raising the likelihood of a recession as the housing slump begins eating away at the previously sturdy household incomes that had been a pillar of the economy.
The rise in the jobless rate to 5% from 4.7% in November -- and an increase of only 18,000 in nonfarm jobs, the worst performance in four years -- adds pressure on the Federal Reserve to swallow its concerns about inflation and cut interest rates more steeply later this month.
Stocks fell sharply as a major crutch for the hobbling U.S. economy -- employment growth -- began to look rickety.
The Dow Jones Industrial Average spent the entire day in the red and finished near its intraday trough, off 257.44 points, or 2%, at 12800.18, its lowest close since late November. The blue-chip indicator was hurt by a disappointing Labor Department report showing that nonfarm payrolls rose by just 18,000 workers in December, the job market's worst performance since August 2003. The unemployment rate rose to 5%, the highest level since November 2005, from 4.7% the previous month.
I'm assuming you've just repeated back the things I said because you do not agree with them. When you read my post and put it into context it shows that I was talking about the economy as whole since President Bush got into office.
Your first link:
If you actually go and read the entire article, which you didn't or you wouldn't have sourced it, it shows that yes our economy is going into a downturn, the economy does do that. The unemployment rate even at 5% is historically low, and if you look at the overall unemployment rate after 7 years the news is positive.
I generally trust the WSJ but I question there use of terms like "the rate rose sharply" or "the unemplyment rate surged" 4.7 to 5% us hardly rising sharply or even a surge.
It will definitly hurt the Republicans if the economy continues on a downturn, but I think if we figure out how to help with these subprime mortgages, and this housing slump it will turn around. We have a resiliant economy in a technologically thriving world, these is no reason to be pessimistic.
Do you disagree that the Democrats have placed global warming as a far greater threat than terrorism and this will hurt them in that it makes them look weak?
All this doesn't mean anything. There is always going to be a percentage of the population that is unemployed regardless of who is in power. Historically President Bush has a good record of creating jobs even after terrorism, natural disasters, etc.. This study above doesn't take into account the people that work under the table. If they are going to stretch the variables they should include all of them.
You dodged my question...
The Bushies like to pretend that history began in August 2003, so that they can ignore the job losses early in the administration. But even that doesn’t do the trick. Since August 2003, the economy has added 8.5 million jobs – 172,000 per month. So even by cherry-picking the good Bush years and pretending the bad years never happened, they still can’t match the average rate of job creation under Clinton.
Now, you might say that Clinton doesn’t deserve all the credit for good things that happened on his watch – and I agree. But it’s the Bushies who are trying to spin a mediocre job record into proof that their policies are wonderful.
Did I mention that the Clinton job boom followed an, um, increase in taxes?
I didn't say my word is worth more. I declare right up front I'm a partisan conservative and certainly don't try to hide it. Drudge sources the New York Times on the Drudge Report, you source the New York Times, do you see what I'm getting at? See if you can find anywhere where I sourced Matt Drudge.
Go back and research Krugman's numbers, I did when some other zipperhead used the same article. He falsely and unfairly compares Clinton numbers with Bush numbers after he takes them waayy out of context.
I challenge you right now, find one single piece of propaganda on my site. You won't because it doesn't exist. Now lets go to your site and see what we have.
Do you identify yourself as a Liberal on your side?
you are such moron, I all ready read this shit on the other post.
And you still cannot answer a simple question,
I'll ask another: Do you identify yourself as a lazy insane koolaid-drinking pinhead on your side?
No, don't answer that, just stay over there in Liberal-ville and let us Conservatives be.
Anybody that is an independent is someone who is ashamed of their beliefs. Your a classic far lefty who is conflicted. This why you won't actually debate and get wierd when someone calls you a liberal. You either lean to left or lean to the right, there is no in between.
"common sense idealogical groundings"
This is what is scary about you people. You think the far left is main-stream.
Why does someone who takes the Liberal point of view on everything say they are an independant?