Unexpectedly, AP hammers Obama administration on jobless report

posted at 12:55 pm on January 8, 2010 by Ed Morrissey

For a while, the Associated Press seemed determined to make “unexpected” and its variants the most overused term in economic reporting.  Today, they give their readers an unexpected shock by dropping the forced sense of optimism normally used in giving bad economic news in their analysis of today’s jobless report.  Instead, Christopher Rugaber reports the obvious — that the loss of 85,000 more jobs is nothing but bad news, and that the 10.0% figure hides the rot underneath:

Lack of confidence in the economic recovery led employers to shed a more-than-expected 85,000 net jobs in December even as the unemployment rate held at 10 percent. The rate would have been higher if more people had been looking for work instead of leaving the labor force because they can’t find jobs.

The sharp drop in the work force — 661,000 fewer people — showed that more of the jobless are giving up. Once people stop looking for jobs, they’re no longer counted among the unemployed.

When discouraged workers and part-time workers who would prefer full-time jobs are included, the so-called “underemployment” rate in December rose to 17.3 percent, from 17.2 percent in November. That’s just below a revised figure of 17.4 percent in October, the highest on records dating from 1994.

Despite the sunny spin coming from the White House, the situation got worse as the year wore on:

The participation rate in the labor force — the portion of adults either working or looking for work — fell in December to 64.6 percent, the lowest since August 1985.

The drop was particularly steep in the second half of last year. That suggested that people were becoming discouraged about their job prospects even as layoffs slowed. The reason is that job openings remain far too few.

And Rugaber supplies some historical context as well:

Friday’s report caps a disastrous year for U.S. workers. Employers cut 4.2 million jobs in 2009. And the unemployment rate averaged 9.3 percent. That compares with an average of 5.8 percent in 2008 and 4.6 percent in 2007. Nearly 15.3 million people are unemployed, an increase of 3.9 million during 2009.

The reaction today from the White House suggests that they know the spin won’t hold.  In the earlier report, Reuters finally admitted that the rise of temp workers may not be a leading indicator of recovery, but a shift in approach by employers spooked by ObamaCare and heavier taxes and energy costs.  Labor Secretary Hilda Solis also suggested that companies may be sitting on the sidelines looking for more incentives to hire — a signal that the administration has been giving for months.

Unemployment has not gotten better; it has gotten worse, and the statistics have hidden the real decline in 2009.  Until now, only a few media outlets bothered to highlight the problem.  The AP has finally made it clear — and that will mean a lot more attention in 2010 to the failed Porkulus legislation and the fumbled economic strategies of the Obama administration.  (via Geoff A)

Update: Inn0cent Bystanders is known for producing the amended Romer charts on unemployment rates each month, but this chart is more on point.  It shows the decline of jobs and the steep rate that hasn’t changed at all this year:

There was a slight incline in March and another in November, but the trend is otherwise a straight line downward all year.  This underscores the AP point made today.


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This is either the Stopped Clock being right twice a day or

Rats leaving a Sinking Ship

both, maybe

Janos Hunyadi on January 8, 2010 at 12:58 PM

Yes! The redhead’s back!

Chuck Schick on January 8, 2010 at 12:59 PM

As Rush said, where does the buck stop on jobs?

mobydutch on January 8, 2010 at 12:59 PM

The thing about the job numbers I really like… they “re-evaluated” November’s numbers and said, “OH LOOK! We actually gained 4,000 jobs in November instead of losing 11,000!”

And then December’s 85,000 loss. They had to try to make it look like we’re not headed into a double-dip recession.

Enoxo on January 8, 2010 at 1:00 PM

Reality is beginning to become unavoidable when the AP writes stuff like this.

Check out “Conservative Talk Forum” by clicking on my name.

trapeze on January 8, 2010 at 1:01 PM

Remember last month when the unemployment rate went from 10.2 to 10 and every one of the HotAir liberal wackpack rushed in here to remind us of the genius of Obamanomics?

This report is pretty scary stuff if you look under the hood. 840,000 people dropped out of the workforce in a single month. If you kep them in the unemployment rate would have leaped up to 10.5%

Take a look at the NILF numbers for the past decade:

http://market-ticker.org/uploads/2010/Jan/nilf-2010-01.png

The numbers were below average when Obama took office, despite unemployment over 7%. Look at them a year later.

That’s the welfare part of the stimulus at work. People dropping off the state unemployment rolls and onto the federal ones. As they do that, they aren’t counted in the unemployment rate.

Chuck Schick on January 8, 2010 at 1:01 PM

Obama’s announcement of a hard pivot towards jobs has already expired.

pedestrian on January 8, 2010 at 1:02 PM

getting lots harder to hide any decline—jobs, global temp, polls, whatever…

ted c on January 8, 2010 at 1:02 PM

Solid B+.

Heckuva job, Baracky.

JammieWearingFool on January 8, 2010 at 1:03 PM

The real panic is going to start in DC if and when they figure out they’re even losing their cheerleading squads.

Pretty much going to suck to be a politician when it gets to the point that the only positive press they might be able to count on is Matthew Yglesias. . .

Wind Rider on January 8, 2010 at 1:03 PM

After 18 months of covering for the Liar in Chief, I think they’ve had it. They know that covering for him will kill financially as only 1 out of 5 people are liberal, and Obama is to the left of that 1 out of 5 it seems.

uknowmorethanme on January 8, 2010 at 1:03 PM

Yes! The redhead’s back!

Chuck Schick on January 8, 2010 at 12:59 PM

`
Yea, I think Ed was holding back on the picture of her, knowing he would be able to use it later in the day.

CBP on January 8, 2010 at 1:04 PM

If there inflation, due to uncontrolled federal borrowing. Then that will also hurt business due to high borrowing costs. This is getting bad, worse, and ….I don’t know.

Oil Can on January 8, 2010 at 1:05 PM

The simple fact that December’s numbers did not show a net gain is rather shocking–what with temporary unemployment for the holiday season. I surely expected it to show a boost of tens of thousands in hiring.

But if they cannot even get a positive number in December, it’s going to get worse in the January-February number when those temporary jobs are lost. I honestly expect 10.5 unemployment when that report comes out.

Enoxo on January 8, 2010 at 1:05 PM

trapeze-Conservative Talk looks like a great website.

mobydutch on January 8, 2010 at 1:06 PM

O/T: http://www.foxnews.com/politics/2010/01/08/economist-contract-health-department-touting-reform/

Apparently a guy defending Obama care in the media was under contract for the HHS to the tune of $297,600 to provide technical assistance to the HHS in evaluating health care reform proposals.

Son of a gun! Most transparent administration ever!

Johnnyreb on January 8, 2010 at 1:06 PM

employers spooked by ObamaCare and heavier taxes and energy costs.

The Porkulus chickens have come home to roost.

pedestrian on January 8, 2010 at 1:06 PM

Obama should have allowed the MSM to televise the ObamaCare final deal making. This was their biggest mistake ever (as far as their own careers of course).

If the MSM were allowed to televise it, they would have spun whatever shady deals were made to look good for America. But now that they’ve been spurned, the worm has turned and the truth will start dribbling out here and there from the MSM. And as more dribbles out, and their ratings improve over it, the more will come out.

Big, BIG mistake.

DrAllecon on January 8, 2010 at 1:07 PM

Solid B+.

Heckuva job, Baracky.

JammieWearingFool on January 8, 2010 at 1:03 PM

That Stimulus package sure worked wonders, didn’t it?

UltimateBob on January 8, 2010 at 1:07 PM

How bad will the numbers be when those “Christmas” jobs disappear?

Knucklehead on January 8, 2010 at 1:07 PM

Yes! The redhead’s back!

Chuck Schick on January 8, 2010 at 12:59 PM

Must have had a temp job in retail during the holidays.

WashJeff on January 8, 2010 at 1:08 PM

quick hide the decline

unseen on January 8, 2010 at 1:08 PM

Hospital jobs. Now some of the new millions that are both fired and foreclosed can go the the hospital for 3 hots and a cot instead of causing a little fight and going to jail for 3 hots and a cot. Makes sense to me.

seven on January 8, 2010 at 1:09 PM

How bad will the numbers be when those “Christmas” jobs disappear?
Knucklehead on January 8, 2010 at 1:07 PM

Exactly. Most “holiday help” wil not be retained. Heckuva Stimulus Bill, Huh?

kingsjester on January 8, 2010 at 1:10 PM

When the economy really rights itself in a few months or a few years (heaven forbid), can we do a Where Are They Now? for “the redhead”?

LastRick on January 8, 2010 at 1:10 PM

The really worrisome aspect of this amateur administration is that we don’t know what’s better or worse: President Toonces focusing on a problem or ignoring it.

Check out “Conservative Talk Forum” by clicking on my name.

trapeze on January 8, 2010 at 1:11 PM

what is dear leader gonna say today?
totus has been working extra hard this week….

cmsinaz on January 8, 2010 at 1:12 PM

It’ll be interesting to see how Obama spins this in his “comments” on jobs this afternoon. During the press briefing one reporter asked Baghdad Bob why the pres hasn’t held a press conference since July. He has only been coming on tv to “make statements”. Me thinks he’s afraid of answering questions. He’s not good shooting from the hip.

milwife88 on January 8, 2010 at 1:12 PM

The fact that the economic numbers are consistently “unexpected” should tell them to look to different sources when setting their expectations.

crosspatch on January 8, 2010 at 1:12 PM

I guess Obama’s “hard pivot” on jobs ended up being downwards.

BPD on January 8, 2010 at 1:13 PM

Beware the false criticism. It will make O’s comeback as numbers improve (somewhat likely) miraculous.

Fuquay Steve on January 8, 2010 at 1:13 PM

Perhaps the media, seeing lay offs in their future, are finally putting the kool aid down, and drinking some good ol’ fashioned water?

Just saw a headline on yahoo, where UPS is going to lay off 1800 workers.

Also…notice how fast, and furious that graph line goes down, since the elections in November, and continues to plummet, a year later? Still Bush? I think NOT!!!

capejasmine on January 8, 2010 at 1:13 PM

These losses have got to stop. We can look at declining charts all day long but for people who need work a damn chart is meaningless. We’re admiring data points rather than creating jobs for real people. Business has a right to be scared to grow. Those employers are uncertain where the country is going or whether or not they’ll be the next government takeover project. This administration needs to go. November isn’t soon enough. Buy all the gold you can.

kens on January 8, 2010 at 1:14 PM

After 18 months of covering for the Liar in Chief, I think they’ve had it.

uknowmorethanme on January 8, 2010 at 1:03 PM

Slightly OT – Gibby’s presser was just on Fox, and I gotta tell you, he is getting absolutely skewered. They are starting to call them out on all sorts of things, and patience has got to be wearing thin. I think the press may be on the brink of doing their own hard pivot.

singlemalt_18 on January 8, 2010 at 1:14 PM

milwife88 on January 8, 2010 at 1:12 PM

was thinking the same thing…they are getting annoyed that he hasn’t talk with them in some time, totus won’t be able to help him out with that crew

cmsinaz on January 8, 2010 at 1:15 PM

Census is hiring. I am sure they will ned an extra million because people won’t let the ACORN temops in their door and they will have to travel in pairs like the Mormon Boys.

Surely Census workers will ride bikes to save pollution.

seven on January 8, 2010 at 1:15 PM

Check out “Conservative Talk Forum” by clicking on my name.

Ok, ok – we get it already.

Midas on January 8, 2010 at 1:16 PM

I sure hope this will stop Obama care. I mean at some point everyone has to stop, take a deep breath and actually look at the world around them. Even an idiot can see adding in any way to the countries tax burden at this time is suicide, and Obama care will add trillions. No wonder Courtney is giving himself an out to not vote for it.

Johnnyreb on January 8, 2010 at 1:17 PM

I think Steele will be out as RNC head by the beginning of the week.

lorien1973 on January 8, 2010 at 1:18 PM

For a while, the Associated Press seemed determined to make “unexpected” and its variants the most overused term in economic reporting. Today, they give their readers an unexpected shock by dropping the forced sense of optimism normally used in giving bad economic news…

Instead of “unexpected,” this time they said “more-than-expected.”

That’s not even a synonym. It’s just a very slightly different form of the same damned word.

logis on January 8, 2010 at 1:18 PM

cmsinaz on January 8, 2010 at 1:15 PM

I have to admit I like watching the press breifing only beacuse it is so much fun to watch Gibbsy squirm. He is getting increasingly irritated with the press corp. One of these days he is going to snap and it’ll be youtube fodder for decades. I can’t wait.

milwife88 on January 8, 2010 at 1:18 PM

Labor Secretary Hilda Solis also suggested that companies may be sitting on the sidelines looking for more incentives to hire — a signal that the administration has been giving for months.

Beware of Socialists bearing gifts.

Buy Danish on January 8, 2010 at 1:18 PM

I thought Michelle Obama was in charge of encouraging people into service jobs. She has been remarkably quiet, lately.

RushBaby on January 8, 2010 at 1:19 PM

I saw Jack Cafferty complain about Obama the other day. That is a very bad sign, IMHO

wiseprince on January 8, 2010 at 1:21 PM

Labor Secretary Hilda Solis also suggested that companies may be sitting on the sidelines looking for more incentives to hire — a signal that the administration has been giving for months.

Obowma said something like that, too, a few months ago. Employers sitting on all those profits. Instead of hiring people with that money.

Wethal on January 8, 2010 at 1:21 PM

I feel so stimulated.

SouthernGent on January 8, 2010 at 1:22 PM

I was watching the AP slobber all over itself for the last few days, developing the “spin” on crappy economic news that was sure to come out of this. I guess “Hints of an improving economy” are a pipedream, right Associated Press? Keep up this kind of reporting and Obama’s likely to kick you out of bed.

bradley11 on January 8, 2010 at 1:23 PM

This afternoon Barack The Magnificent will opine that American should support all his Marxist domestic plans and jobs will magically appear. Pay no attention to the poor misguided yutes like the Eunuch Bomber.

kingsjester on January 8, 2010 at 1:24 PM

. Employers sitting on all those profits. Instead of hiring people with that money.

Wethal on January 8, 2010 at 1:21 PM

Right! Me and my business are so flush with extra cash, I had lay off another employee at the end of December.

Knucklehead on January 8, 2010 at 1:24 PM

QUICK!! HIDE THE DECLINE!!!

MikeInBA on January 8, 2010 at 1:24 PM

Obama to the rescue!!!

On Friday afternoon, President Barack Obama plans to announce more government spending to create green jobs. The White House says Obama will unveil projects that will help develop solar and wind power and energy management technologies. The funding is part of the $787 billion economic stimulus package Congress approved last year.

Obama is also expected to reiterate the administration’s call for an additional $5 billion in spending for clean energy manufacturing. Congress would have to appropriate the additional money.

Congress, meanwhile, is considering a “jobs bill” that would spend $174 billion on unemployment benefits, roads and other infrastructure and provide support for cash-strapped state governments.

It’s like fighting a tick infestation. And Obama will actually BRAG about this stuff during State of the Union.

RushBaby on January 8, 2010 at 1:24 PM

Eventually, even the delusional must admit the obvious.

Badger40 on January 8, 2010 at 1:24 PM

Michelle Obama has been far too busy toning her arms to deal with any governmental business. I wonder if she furloughed any of the 22 people she hired to be at her beck and call, since she’s out of sight?

bradley11 on January 8, 2010 at 1:25 PM

I’m sure the only thing that’s needed is a few hundred billion more funneled to Goldman Sachs, the Chicago Machine, SEIU, and ACORN, and the number of jobs will start going up, again.

MNHawk on January 8, 2010 at 1:25 PM

Can’t wait for the stimulus to run out….hah!!

PatriotRider on January 8, 2010 at 1:25 PM

And it’s still ALL “W’s” fault. Beltway Bob made that abundantly clear once again today, during his daily press briefing – pointing out at least twice that the economic “mess” started over a year before his lord took office. He didn’t, however, allude to the fact that under his lord’s leadership, it’s now about five times as bad. He also neglects to ever mention that during those 24 months Congress was controlled by Democrats, including one Barack H. Obama. THAT would be an Inconvenient Truth!

GoldenEagle4444 on January 8, 2010 at 1:25 PM

http://www.youtube.com/watch?v=yRMkybRXHLA&feature=related
Lifeboats going guickly…

lovingmyUSA on January 8, 2010 at 1:26 PM

How bad will the numbers be when those “Christmas” jobs disappear?

Knucklehead on January 8, 2010 at 1:07 PM

One of my daughters has a X-mas job. Hoping she can stay on after mid-Jan & they’re trying to keep her (K-mart), but they’re not sure they can.
It boggles the mind to think of all those seasonal employees.

Badger40 on January 8, 2010 at 1:27 PM

As Rush said, where does the buck stop on jobs?

mobydutch on January 8, 2010 at 12:59 PM

Well now thats’ a fine kettle of fish!
I wonder where this BUCK STOPS?
dhunter on January 8, 2010 at 10:07 AM

From the other unemployment thread!
Go ahead Rush plagerize me I don’t mind at all. HeHe

dhunter on January 8, 2010 at 1:27 PM

Two more friends of mine lost their jobs right before Christmas. Many others I know are barely hanging on with consulting jobs and even temp jobs. Middle-aged Americans are really scared right now. Try finding a new management-level job with benefits and a high-five or low-six figure salary when you are 50+. It ain’t happening. These folks have kids in college or about to be, and many of us still have living parents we are trying to take care of. We have houses with mortgages that we can’t sell. We are only 10-15 years away from Medicare and we see it about to disappear with ObamaCare.

This is the heart of the Baby Boom generation and the biggest single cohort of voters. This recession has absolutely knocked us on our asses and scared us to death.

rockmom on January 8, 2010 at 1:29 PM

And it’s still ALL “W’s” fault. Beltway Bob made that abundantly clear once again today, during his daily press briefing – pointing out at least twice that the economic “mess” started over a year before his lord took office.

GoldenEagle4444 on January 8, 2010 at 1:25 PM

Something I noticed the other day, during one of The Won’s press statements: He still uses the phrase “the last eight years” in reference to the ‘failures’ of the Bush administration. Someone needs to update the rhetoric, because now “the last eight years” only includes 7 years of Bush.

BPD on January 8, 2010 at 1:29 PM

Right! Me and my business are so flush with extra cash, I had lay off another employee at the end of December.

Knucklehead on January 8, 2010 at 1:24 PM

Maybe you didn’t correctly calculate the “profits/earnings” ratios Obowma talked about during the campaing?

:)

Wethal on January 8, 2010 at 1:29 PM

The sharp drop in the work force — 661,000 fewer people — showed that more of the jobless are giving up. Once people stop looking for jobs, they’re no longer counted among the unemployed.

My liberal cousin lost her job the Monday before Thanksgiving. She looked for a new job and has now given up. She has now decided to go back to school full-time.

It was all I could do to keep from asking her how all that hopey changey was working for her.

fbcmusicman on January 8, 2010 at 1:31 PM

On Friday afternoon, President Barack Obama plans to announce more government spending to create green jobs. The White House says Obama will unveil projects that will help develop solar and wind power and energy management technologies. The funding is part of the $787 billion economic stimulus package Congress approved last year.

Obama is also expected to reiterate the administration’s call for an additional $5 billion in spending for clean energy manufacturing. Congress would have to appropriate the additional money.

Congress, meanwhile, is considering a “jobs bill” that would spend $174 billion on unemployment benefits, roads and other infrastructure and provide support for cash-strapped state governments.

This is going to do exactly ZERO to help the hundreds of thousands of middle-aged managers and office workers whose jobs are gone and aren’t coming back. We can’t just go work in a factory making wind turbines. We are the ones who have been the backbone of this economy and of the federal tax base.

rockmom on January 8, 2010 at 1:32 PM

Employers sitting on all those profits. Instead of hiring people with that money.

Wethal on January 8, 2010 at 1:21 PM

How long before the govt must “liberate” that $$ to be used ‘for the people’? AKA ‘social justice’, ‘distribution of wealth’ etc..

Badger40 on January 8, 2010 at 1:32 PM

Lack of confidence in the economic recovery led employers to shed a more-than-expected 85,000 net jobs in December

“more than expected”???? Are you daft? Congress continues to muddle through how to raise taxes enough to pay for destroying health care, has cap and tax simmering, and amnesty waiting in the wings. Just what exactly do you expect the private sector to do? Newsflash, the economic outlook will continue to be poor until DC and certain state governments GET OUT OF THE WAY!

JusDreamin on January 8, 2010 at 1:33 PM

It was all I could do to keep from asking her how all that hopey changey was working for her.

fbcmusicman on January 8, 2010 at 1:31 PM

Perhaps she got a load of fed grants to go back to college?
It would certainly make that decision easier when you’re going to be on the public dole for it.

Badger40 on January 8, 2010 at 1:34 PM

This is the heart of the Baby Boom generation and the biggest single cohort of voters. This recession has absolutely knocked us on our asses and scared us to death.

rockmom on January 8, 2010 at 1:29 PM

The only thing that will stop the madness is the fact that the people with the most to lose are the ones who actually vote. Obama drug a whole bunch of Dems on his coat tails with him in 2008. That is not going to happen again. He is posion now and most Dems know that, not all but most.

Nothing so far has been made into law that will permanently cripple our country, so if they bad ones are voted out, or even if they leave voluntarily like Dodd, we can still get out of this mess. It is going to be extremely painful to do, but we can still do it. It is going to take things like only getting half of what you thought you would get in SS benefits and having to pay more of your Medicare, but it can be done.

Johnnyreb on January 8, 2010 at 1:34 PM

He also neglects to ever mention that during those 24 months Congress was controlled by Democrats, including one Barack H. Obama. THAT would be an Inconvenient Truth!

GoldenEagle4444 on January 8, 2010 at 1:25 PM

that is what irks me the most about the lib pundits out there when they are crowing about dear leader, the opponents will never call them on that little tidbit…they need to be called on that repeatedly!

cmsinaz on January 8, 2010 at 1:35 PM

more-than-expected 85,000

I’d say more-than-expected = unexpected.

Nope, the AP still buys that economists from Goldman Sachs of are actually not being rosy idiots trying to talk up the economy.

The thin, thin sheet of ice keeping our country from complete collapse gets thinner every month, and mounting debt, free falling dollar and Dumbocrats just doing things to make it worse with more taxes and disincentives to invest and expand, I’m afraid it won’t be long now.

Should tell people something that the best retail industries right now are guns, ammo, MRE’s and non-perishable food products.

PastorJon on January 8, 2010 at 1:35 PM

rockmom on January 8, 2010 at 1:32 PM

You are exactly right. I wonder if Obama will take into account the jobs leaving a solar panel factory in the east, on their way to China? Green jobs obviously are out there, if you live in the peoples republic. UGH

capejasmine on January 8, 2010 at 1:35 PM

[The redhead] must have had a temp job in retail during the holidays.

WashJeff on January 8, 2010 at 1:08 PM

I really feel sorry for her. After all this time I thought she finally had landed a real job. Too bad.

jwolf on January 8, 2010 at 1:35 PM

Good thing Bush is gone. Why I’d hate to have unemployment at levels we had during his 8 years.

Oh wait…

angryed on January 8, 2010 at 1:36 PM

Eventually, even the delusional must admit the obvious.

Badger40 on January 8, 2010 at 1:24 PM

I think our trolls are starting to come around. I say this because they are not showing up on these job report threads today. I would say this, not coming to Obama’s defense, is step one in the process.

WashJeff on January 8, 2010 at 1:37 PM

“Green Jobs?” Scam positions for a Scam Indusctry based on a Scam. How about doing something to encourage capitalism, Mr. President? Thereby, creating REAL jobs.

kingsjester on January 8, 2010 at 1:37 PM

I just love when this administration says how many jobs that they saved.
Really? Show me the proof!!

whatzit2u on January 8, 2010 at 1:37 PM

So Rip Van AP finally awoke.

faol on January 8, 2010 at 1:38 PM

It’s like fighting a tick infestation. And Obama will actually BRAG about this stuff during State of the Union.

RushBaby on January 8, 2010 at 1:24 PM

There will be a run on the liquor stores that day…

ladyingray on January 8, 2010 at 1:39 PM

If only there had been someone, anyone, warning us about the dangers or electing a Marxist president….

angryed on January 8, 2010 at 1:39 PM

I thought Michelle Obama was in charge of encouraging people into service jobs. She has been remarkably quiet, lately.

RushBaby on January 8, 2010 at 1:19 PM

I’m glad she’s quiet. No good can come from a masculine female. Perhaps she’s working on shedding some of that trunk, or prepping her new tax payer paid for wardrobe for the new year, or chowing down more waigu steaks?

capejasmine on January 8, 2010 at 1:40 PM

Unemployment is caused by wages not adjusting downward to the new market clearing level. How many people would have kept their jobs if they had only been allowed to work for less?

Count to 10 on January 8, 2010 at 1:41 PM

It’s still good news, damn it !

“The number of employees companies have to choose from increased unexpectedly”.

BowHuntingTexas on January 8, 2010 at 1:43 PM

Linda, I can think of one huge incentive to hire:

All of you stepping out of office, all dems retiring from Congress immediately and all TARP, Porkulus, etc money sitting in the Treasury for slush funds paid back against the deficit. Then kill the ObamaCare bill, any talk of cap and tax, and all card check proposals. Announce a cut in taxes.

Unfortunately, they will do the exact opposite and keep blaming Bush as people start to go hungry . . .

PastorJon on January 8, 2010 at 1:43 PM

How long before the govt must “liberate” that $$ to be used ‘for the people’? AKA ’social justice’, ‘distribution of wealth’ etc..

Badger40 on January 8, 2010 at 1:32 PM

I believe this is likely if the Democrats remain in power, especially for large companies that can be forced into a GM style quasi bailout.

jwolf on January 8, 2010 at 1:44 PM

The mainstream lamestream media has done everything in its power to diguise the fact that this nation continues to run in a recession using the stock market as the sole indicator. Only the liberal papers have used the word “recovery” more than Obama’s “let me be clear”. Obama, Gietner, and Bernanke all know that as long as they keep pouring YOUR TAX DOLLARS into the financial institutions, this ponzi scheme will keep the markets falsely brimming with optimism. Replenishing Fannie and Freddie with billions more has the hedge-funders right back into unhealthy bundling of “securities” bound for another hell hole of unsecure liquidity.

quick hide the decline

unseen on January 8, 2010 at 1:08 PM

You ain’t “seen” nothing yet.

Rovin on January 8, 2010 at 1:44 PM

Obamanomics! Catch the Fever! Maybe it’s time for citizens to do a HARD PIVOT on Barry, Nancy and Harry and tell them to work on what’s important.

GarandFan on January 8, 2010 at 1:46 PM

I think Steele will be out as RNC head by the beginning of the week.

lorien1973 on January 8, 2010 at 1:18 PM

What makes you say that?

alohapundit on January 8, 2010 at 1:50 PM

Employers sitting on all those profits. Instead of hiring people with that money.

Wethal on January 8, 2010 at 1:21 PM
How long before the govt must “liberate” that $$ to be used ‘for the people’? AKA ’social justice’, ‘distribution of wealth’ etc..

Badger40 on January 8, 2010 at 1:32 PM

FDR tried something similar to this in the 30′s. I’m trying to find it and what they called it.

thomasaur on January 8, 2010 at 1:53 PM

..and the rad-haired lady on the cell phone is back! She musta been turned loose from her temp Christmas gig at Target.

VoyskaPVO on January 8, 2010 at 1:53 PM

My employer (a hospital) has always had 30 or more job openings posted on a bulletin board outside the cafeteria. A lot of them are for per diem nursing staff, but still, it’s been quite consistent since I started there nearly 10 years ago. A few weeks back the job postings were zero. And they still are. So that’s 30+ jobs, (and 15+ nurses) who won’t be working anytime soon.

Add the coming rise in food prices, what with the crappy weather in Florida and the EPA-caused drought in California, and I’m not feeling very optimistic right now.

LibraryGryffon on January 8, 2010 at 1:57 PM

I thought Michelle Obama was in charge of encouraging people into service jobs. She has been remarkably quiet, lately.

RushBaby on January 8, 2010 at 1:19 PM

But remember everything in this WH comes with an expiration date. Service jobs was so 2008.

angryed on January 8, 2010 at 1:58 PM

FDR tried something similar to this in the 30’s. I’m trying to find it and what they called it.

thomasaur on January 8, 2010 at 1:53 PM

The Undistributed Profits Tax of 1936

Knucklehead on January 8, 2010 at 1:58 PM

Looks like it’s time for Bo Obama to be getting a little brother or sister to distract the media!

Seriously, how in the hell can Congress even consider the massive cap & trade and Obamacare bills until they fix the economy. The filthy lying coward is going to sign Obamacare into law on the day he delivers the SOTU and completely ignore the fact that his administration has been a complete failure when it comes to the addressing the things that matter.

highhopes on January 8, 2010 at 1:59 PM

The Undistributed Profits Tax of 1936

Knucklehead on January 8, 2010 at 1:58 PM

Beat me to it.

Badger40 on January 8, 2010 at 1:59 PM

http://www.taxhistory.org/Civilization/Documents/Surveys/hst23732/23732.htm
I believe this what I was looking for.

thomasaur on January 8, 2010 at 1:59 PM

Hey, unemployment is a lagging indicator! Things are improving, the recovery is under way! Obama’s green jobs initiatve will half the unemployment rate! Chrostmas sales were better than expected! It’s the do-nothing Republicans who are causing all the problems!

Channeling trolls is hard.

Meremortal on January 8, 2010 at 1:59 PM

There will be a run on the liquor stores that day…

ladyingray on January 8, 2010 at 1:39 PM

Needed for the drinking game during the live-blogging….

lovingmyUSA on January 8, 2010 at 2:00 PM

Thanx ladies, you were faster than I.

thomasaur on January 8, 2010 at 2:00 PM

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