Jobs, Jobs, Jobs
It’s that time of the year again when the Obama administration “pivots” to focus on job creation again. This video shows us that they’ve been focused like a laser from the beginning, but there is always room for improvement.
Market Fears
The stock market had a rough day yesterday. The Dow tumbled 512 points, and all three indexes fell more than 4 percent, erasing all the gains made for the year. Despite the historic, life-saving, and deficit-busting debt ceiling compromise, the markets seem to be reacting to growing fears of a double dip recession.
Unemployment
The unemployment rate dropped to 9.1 percent with 117,000 jobs created in July. Strangely enough, there were also 38,000 fewer people working in July than in June. This is explained by the fact that the government does not include “discouraged workers” in their calculations. This category saw a 137,000 increase last month, as the share of the eligible population holding a job declined to 58.1 percent. The presidential bus tour ought to solve this problem.
Dependence
Food stamp usage reached an all-time high of 45.8 million in May. That’s up 12 percent from last year and 34 percent from two years ago. This means that nearly 15 percent of the
More Money?
Your crazy aunt Fannie Mae’s at the door. She’s asking for another $5.1 billion to deal with continued losses on loans from a weakening housing market. Care to contribute?
Disappointing
It appears that the New Yorker article documenting the bin Laden raid may have stretched some truths. The author did not interview any of the Navy SEALs involved in the mission, which means that many of the details came from second and third-hand sources. The eye witness account was almost too good to be true…
Quote of the Week
Press Secretary Jay Carney: “The White House doesn’t create jobs.” Oh, really? Not even shovel-ready ones?
